When was property at 507 School Lane built and last sold?

The property at 507 School Lane was built in 1963 and last sold on Jul 22, 2022 for $1,175,000.

How much is this home worth?

The estimated value of the home located at 507 School Lane is $1,463,192.

What are some comparable homes to 507 School Lane?

There are currently no comparable homes to 507 School Lane.

Rehoboth Beach

19971

507 SCHOOL LN

$1,175,000

● House - Off Market

507 SCHOOL LN

REHOBOTH BEACH, DE 19971

4 Beds

3 Baths, 1 Half Bath

2,624 Ft²

$1,427,204

RealtyHop Estimate

2.31%

Since Aug 1, 2022

National-US

Primary Model

About This Property

Nestled among beautiful mature trees in the desirable Schoolvue community, 507 School Lane is a property that offers endless opportunities! Built in 1965, this classic 2 story, 4 bedroom, 2.5 bath Colonial home features charm and character throughout. The welcoming front porch adorned with red brick greets you upon entry. Some of the home's key features include a large great room with bay windows offering an abundance of natural light, a cozy den accented with reclaimed hardwoods, built-ins, brick fireplace, and knotty pine paneling, a walk-up attic, and full walk-out basement. This building lot is like no other in the area offering the utmost privacy at 23,000 +/- square foot in size. It provides the opportunity for expansion or build new with room for a pool, garage and the maximum square footage under the Rehoboth Beach building code. Your options are too numerous to list. With easy access to downtown Rehoboth, South Rehoboth's beaches, Turtle Park, Turtle Bridge and local tennis, this property will be hard to beat!

Unit Size

2,624 Ft²

Days on Market

80 days

Land Size

0.54 acres

Price per sqft

$532

Property Type

House

Property Taxes

$187

HOA Dues

Year Built

1963

Payment Calculator

Cap Rate Calculator

Last updated: 2 years ago (Bright MLS #DESU2017206)

Price History

Date / Event	Date	Event
Aug 4, 2022	Sold	Premium
Sold
Apr 8, 2022	Listed by Jack Lingo - Rehoboth	$1,395,000
Listed by Jack Lingo - Rehoboth

Property Highlights

Air Conditioning

Fireplace

Garage

Building Info

Overview

General

Year Built: 1963

Effective Year Built: 1963
Bedroom Count: 0
Bathroom Count: 2
Partial Bathrooms: 2
Bathroom Plumbing Fixtures: 5
Building Condition: 0
Building Quality: 5
Construction Type: 6
Building Style: 0
Exterior Walls Type: 17
Interior Walls Type: 0
Roof Shape Type: 1
Roof Cover Type: 13
Floor Count: 200
Floor Cover: 0
Basement Type: 9
Basement Area: 360
Garage Type: 7
Garage Square Area: 216
Parking Space Count: 1
Patio Type: 0
Porch Type: 7
Pool Type: 0

Dimensions

Lot Size Square Feet: 23,836

Lot Size Depth Feet: 2,270
Lot Size Frontage Feet: 1,050
Total Building Area: 2,032
Building Area: 2,032
Building Area Measurement: L

Heating and Cooling

Fireplace Count: 1

Air Conditioning: 6
Heating: 24
Heated Square Feet: 2,032
Heating Fuel Type: 0

Utilities

Sewer System: 0

Water Service: 0

Building

Building Type: 0

Property Class: R
Subdivision: REHOBOTH BEACH
Land Acres: 0000000547
Standard Land Use Code: 1001
County Land Use Code: RS
Legal Description 1: SCHOOLVUE LOTS 17 18 SEC E

Neighborhood

School District Name: Cape Henlopen School District

School Tax School District: CAPE HENLOPEN
Census Tract: 051102

Zoning

Zoning: TN

Geography

District: CAPE HENLOPE

Section: E
Parcel: 334-20.05-10.00
Lot: 17-18
Municipality: 19971
Latitude: 38.7112
Longitude: -75.0883

Address

Full Address: 507 School Ln

Address - House Number: 507
Address - Street Name: School
Address - Suffix Type: Ln
State: DE
City Name: Rehoboth Beach
Carrier Code: C009
4-Digit Zip Code: 1801
Zip Code: 19971

Valuation

Tax

Tax Year: 2023

Tax Amount: $173,100
Initial Tax Delinquent Year: 2022

Appraisal Valuation

Standard Deviation: 0.2468

Valuation Date: Sep 13, 2023
Confidence Score: 65
Final Value: 1,145,457
High Value: 1,428,267
Low Value: 862,648

Open Liens

Total Open Liens:

Premium

Total Open Liens Amount:

Premium
First Open Lien Mortgage Lender:

Premium
First Open Lien Mortgage Recording Date:

Premium
First Open Lien Mortgage Financing Type:

Premium
First Open Lien Mortgage Loan Amount:

Premium
First Open Lien Mortgage Term:

Premium
First Open Lien Mortgage Position:

Premium
First Open Lien Mortgage Loan Type:

Premium
First Open Lien Mortgage Loan Due Date:

Premium

Market Valuation

Market Total Value: $70,300

Market Land Value: $34,100
Market Improvement Value: $36,200

Assessments Valuation

Assessed Year: 2023

Assessed Total Value: $35,150
Assessed Land Value: $17,050
Assessed Improvements Value: $18,100

Sales

Current Sale Contract Date: Jul 22, 2022

Current Sale Recording Date: Aug 04, 2022
Current Sale Price:

Premium
Current Sale Document Type: 27
Current Sale Input Document Number: 36893

Last Sale Mortgage

First Mortgage Lender:

Premium

First Mortgage Transaction Date:

Premium
First Mortgage Loan Amount:

Premium
First Mortgage Terms:

Premium
First Mortgage Loan Type:

Premium
First Mortgage Loan Due Date:

Premium

Financing

First Mortgage Financing Type: ADJ

Data used for valuation calculations is provided by RealtyHop, and other third party sources

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Comparables

About Rehoboth Beach

Stats & Trends

Median Asking:

$1,680,000

Sale Price/ft²

$1,026

Below Asking

0.02%

Average Days on Market

Average Home Size

2236 ft²

Average Home Age

43.7 years

Currently For Sale

43 Listings

Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 31 6th Street, REHOBOTH BEACH, DE, 19971

$2,500 /mo

3 Beds
2 Baths
1,670 ft²

31 6th Street #B, REHOBOTH BEACH, DE, 19971 Listing by Joshua Wilt

Unit for rent at 19805 Coastal Highway, REHOBOTH BEACH, DE, 19971

$2,800 /mo

3 Beds
2 Baths
1,522 ft²

19805 Coastal Highway #311, REHOBOTH BEACH, DE, 19971 Listing by CARLA L.H. RIDDLE

Unit for rent at 36429 Warwick Drive, REHOBOTH BEACH, DE, 19971

$2,800 /mo

3 Beds
2 Baths
1,900 ft²

36429 Warwick Drive, REHOBOTH BEACH, DE, 19971 Listing by Brittany McCunney

Rentals Near You

Click here to view more rentals in the neighborhood.

Listed by: BRYCE LINGO
Jack Lingo - Rehoboth
Last Updated: 6 hours ago
Data Source: Bright MLS , MLS# DESU2017206

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.

507 SCHOOL LN

About This Property

Price History

Property Highlights

Building Info

Overview

Building

Neighborhood

Zoning

Geography

Valuation

Comparables

About Rehoboth Beach

Stats & Trends

Similar Homes for Sale

Nearby Rentals

Frequently Asked Questions