102 Martin Ln Unit 2 Rehoboth Beach, DE 19971

Listing Details

• Property Type: Residential
• Structure Type: Detached
• Architectural Style: Contemporary
• Sussex De Quadrants: Between Rt 1 & 113
• Accessibility Features: Roll-In Shower
• Ownership: Fee Simple
• Home Warranty: No
• New Construction: No
• Story List: Main, Upper 1
• Expected On Market: 2020-09-30
• Federal Flood Zone: No
• Year Built: 1959
• Year Renovated: 2018
• Automatically Close On Close Date: No
• Remarks Public: EXTRAORDINARY INVESTMENT OPPORTUNITY! This completely renovated and updated duplex with tenant occupancy and leases in place provides an uninterrupted income stream from the moment you take ownership. The property is ideally suited for either long term rentals as well as short term/weekly possibilities. This 2 unit, fully legal and county approved property, boasts of being fully renovated from top to bottom. Everything in the building was replaced except the walls and the roof which was installed in 2008. There are new windows and doors, rigid foam insulation in the walls that exceed code, and additions to the floor structure, prescribed by a licensed architect, to meet current building code. In addition to the required fire rated ceiling between the units, there is a sound isolation system that blocks most of the noise between the units. All the electric, plumbing, and HVAC are three years old and inspected to code. There is a commercial Wi-Fi system that covers both units with separate, secure networks, plus additional networks for guests and building management. It is also wired with 4 IP cameras and a network video recorder with remote access. The upstairs unit is a 2 bed, 1 bath with a laundry in the unit and enough closets for a long-term tenant or owner. It also has a deck for outdoor privacy. The downstairs unit is a 2 bed, 2 full baths with small closets to accommodate weekly rentals. There is a laundry in the shared storage room for the downstairs unit. That laundry was designed for the cleaners to use when they do the turn-over for weekly renters if needed. There is separate HVAC and electric for each unit, a new 100 foot-deep well with public sewer, and a shared hot water tankless propane system. Both units have stainless steel appliances, granite counter tops and custom purple heart breakfast bars. Four legal parking spaces (permits are included) are defined by railroad ties. It is all legal and was properly permitted as a duplex/rental. The property is located on a dead-end street in a small neighborhood without through traffic. It's within walking distance to restaurants and also convenient to the DART bus that serves the local beaches. Here are some financials that are currently in place. The owners pay for internet access, sewage, trash removal, & propane. Second-floor rent is 1200.00. The first-floor unit, due to some nicer finishes and 2nd full bath is 1300.00. Simply put - this is an excellent investment opportunity. Continue to rent both units OR live in one and rent the other OR rent one long term and the other short term OR etc. Don't miss this opportunity to start or add a great income producer to your investment portfolio!
• Special Features: None
• Property Sub Type: Detached

Interior Features

• Appliances: Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer - Front Loading, Dual Flush Toilets, Energy Efficient Appliances, Energy Star Clothes Washer, Energy Star Dishwasher, Icemaker, Instant Hot Water, Oven - Self Cleaning, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, Water Heater - High-Efficiency, Water Heater - Tankless
• Flooring Type: Stone, Vinyl
• Interior Amenities: Breakfast Area, Built-Ins, Ceiling Fan(s), Combination Kitchen/Dining, Entry Level Bedroom, Flat, Floor Plan - Open, Kitchen - Eat-In, Recessed Lighting, Tub Shower, Upgraded Countertops, Window Treatments, Primary Bath(s)
• Window Features: Casement, Double Pane, Energy Efficient, Energy Star Qualified, Insulated, Low-E, Screens, Vinyl Clad
• Fireplace: No
• Door Features: French, Insulated, Energy Star Qualified Door(s)
• Wall Ceiling Types: Block Walls, Dry Wall
• Foundation Details: Slab
• Levels Count: 2
• Room List: Living Room, Bedroom 2, Kitchen, Bedroom 1, Laundry, Storage Room, Bathroom 1, Bathroom 2
• Basement: No
• Laundry Type: Dryer In Unit, Has Laundry, Lower Floor, Upper Floor, Washer In Unit
• Total Sq Ft: 1350
• Living Area Sq Ft: 1350
• Price Per Sq Ft: 295.56
• Above Grade Finished Sq Ft: 1350
• Above Grade Finished Area Units: Square Feet
• Street Number Modifier: 102

Beds/Baths

• Bedrooms: 4
• Main Level Bedrooms: 2
• Total Bathrooms: 3
• Full Bathrooms: 3
• Main Level Bathrooms: 2.00
• Upper Level Bathrooms: 1
• Upper Level Bathrooms: 1.00
• Main Level Full Bathrooms: 2
• Upper Level Full Bathrooms: 1

Exterior Features

• Other Structures: Above Grade, Below Grade
• Other Structures List: Shed
• Construction Materials: Frame, Masonry
• Exterior Features: Secure Storage
• Road Surface Type: Access - On Grade, Black Top, Paved
• Roof: Asphalt
• Water Access: No
• Waterfront: No
• Water Oriented: No
• Pool: No Pool
• Tidal Water: No
• Water View: No

Garage/Parking

• Assigned Spaces Count: 2
• Garage: No
• Parking Features: Assigned
• Total Garage And Parking Spaces: 4
• Type Of Parking: Off Street, Parking Lot
• Off Street Parking Spaces: 2
• Parking Lot Number Of Spaces: 2

Utilities

• Central Air Conditioning: Yes
• Cooling Fuel: Electric
• Cooling Type: Multi Units, Programmable Thermostat, Central A/C
• Heating Fuel: Electric
• Heating Type: Heat Pump(s)
• Heating: Yes
• Hot Water: Instant Hot Water, Propane
• Security: Smoke Detector
• Sewer/Septic System: Public Sewer
• Utilities: Cable Tv, Phone Available
• Water Source: Well

Condo/Co-op/Association

• Condo Co-Op Association: No
• HOA: No
• Senior Community: No

Schools

• School District: CAPE HENLOPEN
• School District Key: 300200396895
• School District Source: Listing Agent

Lot Info

• Horses: No
• Additional Parcels: No
• Land Use Code: RS
• Lot Size Acres: 0.17
• Lot Dimensions: 75.00 x 100.00
• Lot Size Units: Square Feet
• Lot Sq Ft: 7405.00
• Outdoor Living Structures: Deck(s)
• Soil Types: Sandy
• Year Assessed: 2020
• Zoning: MR
• In City Limits: No

Green Features

• Clean Green Assessed: No

Rental Info

• Lease Considered: No
• Pets: Cats Ok, Dogs Ok
• Pets Allowed: Yes
• Total Actual Rent: 27400.00
• Vacation Rental: No

Tax Info

• Assessor Parcel Number: 5189924
• School Tax: 535.00
• Tax Annual Amount: 592.00
• Assessor Parcel Number: 334-12.00-145.01
• Tax Lot: 40
• County Tax Payment Frequency: Annually
• Tax Year: 2020
• Close Date: 11/24/2020

MLS Schools

• School District Name: CAPE HENLOPEN