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BLACK OAK DRIVE #MODEL
About This Property
This home is to be built; photos are of a model home, The Montauk. Black Oak is located east of Rt. 1, just 3 miles from downtown Lewes, 7 miles from downtown Rehoboth Beach, and 8 miles to Milton. Miles of Delaware shoreline, boating, outdoor activity, entertainment, dining and shopping are nearby, and easy commutes to larger cities and airports make this location a dream. Personalize your floor plans with each model, base prices range from $814,900-$1,039,900 and home sizes range from 2,102 - 4,810 sq. ft. The Black Oak community of 127 new homes features a Clubhouse, outdoor pool, pickleball and tot playground. Basements are available on specific homesites. Generous base features include Enerwise energy efficiency, Advanced framing exterior walls, extra roof insulation, landscaping package, tray ceilings, Home IQ system with USB-C and USB-A outlets, 4' conditioned crawl space, engineered hardwood, carpet and tile flooring, granite kitchen counters, cultured marble bathroom vanity tops, Rinnai tankless hot water heater, and Sea Gull lighting fixtures.
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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 |
|---|---|---|---|
| May 1, 2026 | Listed by Compass | $814,900 | |
| Listed by Compass | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017