35933 TARPON DRIVE
About This Property
Tucked into the coveted enclave of Wolfe Pointe, this masterfully built estate commands a premier three-quarter-acre homesite where the Lewes-Rehoboth Canal meets the untouched wilderness of Cape Henlopen State Park, a protected backdrop with tranquil views that are hard to rival. Totaling 5,082 square feet of sun-filled living space, every detail has been considered. Five generous bedrooms, four and a half baths, a first-floor primary suite that feels like a private sanctuary, and a dedicated home office for days when the world comes to you. Upstairs, three additional bedrooms each claim their own walk-in closet and bath access. Even the storage has been elevated, with two floored attics professionally encapsulated and insulated for year-round peace of mind.
At the home's center, a fully remodeled kitchen gleams with new appliances and the kind of flow that turns everyday meals into lingering gatherings. Then there is the feature that truly sets this property apart in Coastal Delaware: an oversized, newly built detached garage designed to house your boat or RV. Also included, the finished bonus suite with a full bath offers an inspired retreat for overnight guests, visiting family, or a creative studio all your own. It is the kind of purpose-built space that's rarely found at this caliber. Behind the scenes, a 22KW whole-house generator, new main level furnace, and updated heat pumps quietly stand guard, while fresh interior paint, new downstairs carpeting, and a crisp exterior repaint have the home looking ready for its next chapter. Outside, redesigned landscaping with river rock beds, an expanded deck, and a custom fire-pit patio frame the ornamental aluminum-fenced grounds, a canvas for long summer evenings and salt-air mornings. Homes like this don't come along often. This is your moment - call and schedule a showing today!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 31, 2026 | Sold | ||
| Sold | |||
| May 5, 2026 | In contract | - | |
| In contract | |||
| Apr 23, 2026 | Listed by Berkshire Hathaway HomeServices PenFed Realty | $2,100,000 | |
| Listed by Berkshire Hathaway HomeServices PenFed Realty | |||
| Mar 20, 2020 | Sold | ||
| Sold | |||
| Dec 21, 2019 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017