51 BAY REACH
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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%.
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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 |
|---|---|---|---|
| May 3, 2024 | Sold | ||
| Sold | |||
| Apr 1, 2024 | In contract | - | |
| In contract | |||
| Mar 19, 2024 | Price Decreased |
$1,275,000
↓ $75K
(5.6%) | |
| Price Decreased | |||
| Feb 29, 2024 | Listed by Jack Lingo - Lewes | $1,350,000 | |
| Listed by Jack Lingo - Lewes | |||
| | |||
|
Overflowing with coastal charm yet tucked away in a private wooded oasis! That's what you'll find when you visit 51 Bay Reach in Pine Bay! This gorgeous 3 bedroom, 2 bath home offers first-floor living at its finest! Some of the many upgraded features include a large kitchen with quartz countertops, center island, stainless steel appliances, and custom cabinets, a spacious living area with floor-to-ceiling stone fireplace and upgraded lighting, tons of built-in cabinets for extra storage, and more! The bedrooms are spacious and the bathrooms provide a relaxing, spa-like feel.
Surrounded by mature trees on an almost half-acre lot within walking distance to the beach or a quick bike ride into Rehoboth, this home offers the best of both worlds. During your downtime, you can sip your coffee on your screened-in porch or entertain on your spacious deck with a connected paver patio and hot tub. You can even get to know your neighbors at the Pine Bay community pool or at one of the many community events! This one-of-a-kind home has been meticulously maintained and freshly painted so it won't last long. Be sure to schedule your private showing today!
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| Jul 23, 2020 | Sold | ||
| Sold | |||
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About Sussex
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017