412 KINGS HIGHWAY
About This Property
Adding to the property's unique character and history, don't miss the historic Bride and Groom tree planted in 1812, a rare and meaningful feature that reflects Lewes' rich heritage and timeless appeal.
The property features two separate units, including a 2-bedroom, 1-bath residence and a 2-bedroom, 2-bath residence, sharing a private driveway and fenced backyard - ideal for outdoor entertaining, guests, or rental flexibility. Whether used as a primary residence with guest quarters, vacation home, or income-producing property, the possibilities are exceptional.
This extensive renovation included full interior and exterior rebuilds, all new windows and doors, new electrical service and panels, new plumbing supply and drain lines, new insulation with upgraded soundproofing between floors, new sheetrock, trim, cabinetry, flooring, tile, appliances, and lighting throughout. Structural improvements included foundation work, repaired framing, leveled floors, and new layouts, along with a vaulted ceiling in the second-floor bedroom.
Exterior improvements elevate both curb appeal and durability, including cedar shake siding on the front, LP SmartSide siding on the sides and rear, a new metal roof, gutters, downspouts, cedar fencing, hardscaping, and landscaping. Outdoor living spaces include a new side deck with cedar decking and PVC railings, along with a welcoming front porch featuring cedar decking.
Additional upgrades include new HVAC ductwork, full system cleaning post-construction, new sump pump with battery backup, Roof Maxx treatment on the existing shingle roof, and all necessary building permits and HPARC approvals completed during renovation.
Just 2.5 blocks to Second Street, enjoy easy access to Lewes' charming shops, restaurants, coffee spots, canalfront dining, and local events, along with nearby Lewes Beach, Cape Henlopen State Park, and the Junction & Breakwater Trail.
This is a rare, turn-key multi-unit opportunity in Historic Lewes - completely renovated, thoughtfully designed, and ideally located in one of Delaware's most desirable coastal towns, with a piece of Lewes history right in your backyard. Lots of room to add the backyard oasis of your dreams! DON'T MISS YOUR CHANCE TO OWN AN EASY INVESTMENT OR MULTI GENERATIONAL LIVING OPPORTUNITY.
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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 |
|---|---|---|---|
| Oct 8, 2026 | Price Decreased |
$1,248,000
↓ $1K
(0.1%) | |
| Price Decreased | |||
| Sep 11, 2026 | Price Decreased |
$1,249,000
↓ $101K
(7.5%) | |
| Price Decreased | |||
| Jun 16, 2026 | Price Decreased |
$1,350,000
↓ $50K
(3.6%) | |
| Price Decreased | |||
| Apr 8, 2026 | Listed by Monument Sotheby's International Realty | $1,400,000 | |
| Listed by Monument Sotheby's International Realty | |||
| Feb 28, 2020 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017