Seller's Agent in 2020
Ian Blyth
Coldwell Banker Realty
(302) 569-2352
7 in this area
42 Total Sales
Estimated Value: $1,205,857
2
Beds
4
Baths
2,304
Sq Ft
$523/Sq Ft
Est. Value
Highlights
- Water Oriented
- Canal View
- Wood Flooring
- Lewes Elementary School Rated A
- Colonial Architecture
- 1-minute walk to 1812 Memorial Park
About This Home
As of August 2020Have you been looking to own a once in a lifetime property in the heart of downtown, Historic Lewes? This rare, turnkey investment property is sure to amaze you and your financial advisor! The first-floor features a fully functioning restaurant & bar space with seating for 50+, which is currently leased for the next five years at $48,000 per year. The second-floor features two beautifully remodeled vacation rental apartments which produced more than $48,600 in rental income in 2019. Between the restaurant/bar and the two apartments, this property is projected to produce approximately $100,000 in annual income! Nestled in the middle of Historic Lewes' shopping and restaurant district, this property is a stone s throw from the Lewes & Rehoboth Canal and just a short walk or bike ride to Lewes Beach. This 1850's built property is also situated only one block away from The Lewes Canalfront Park & Marina. If you are tired of the volatility of the stock market, looking to diversify your investment portfolio, or you want to have a place of your own in Historic Lewes, then you owe it to yourself to visit this historic 1850's gem!
Last Agent to Sell the Property
(302) 569-2352 ianblyth2003@yahoo.com Coldwell Banker Realty License #RS0025973 Listed on: 04/10/2020
Last Buyer's Agent
(302) 569-2352 ianblyth2003@yahoo.com Coldwell Banker Realty License #RS0025973 Listed on: 04/10/2020
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $688
Year Built
- Built in 1850
Lot Details
- 1,742 Sq Ft Lot
- Lot Dimensions are 37.00 x 51.00
- Historic Home
- Property is zoned TN 651, Commercial and Residential
Parking
- On-Street Parking
Property Views
- Canal
- Park or Greenbelt
Home Design
- Colonial Architecture
- Batts Insulation
- Metal Roof
- Wood Siding
- Concrete Perimeter Foundation
- CPVC or PVC Pipes
- Tile
Interior Spaces
- 2,304 Sq Ft Home
- Property has 2 Levels
- Furnished
- Fire and Smoke Detector
Flooring
- Wood
- Tile or Brick
Bedrooms and Bathrooms
- 2 Bedrooms
Accessible Home Design
- Mobility Improvements
Outdoor Features
- Water Oriented
- Property is near a canal
Schools
- Lewes Elementary School
- Beacon Middle School
- Cape Henlopen High School
Utilities
- Central Air
- Heat Pump System
- Electric Water Heater
- Municipal Trash
- Phone Available
- Cable TV Available
Community Details
- No Home Owners Association
Listing and Financial Details
- Property is used as a vacation rental
- Assessor Parcel Number 335-08.08-30.00
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 10, 2020
Closed on
Aug 25, 2020
Sold by
Gates Family Prtnrshp Llc
Bought by
West Market Street Llc
Seller's Agent
Ian Blyth
Coldwell Banker Realty
Buyer's Agent
Ian Blyth
Coldwell Banker Realty
List Price
$1,295,000
Sold Price
$1,100,000
Premium/Discount to List
-$195,000
-15.06%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$105,857
Avg. Annual Appreciation
1.81%
Purchase Details
Closed on
Mar 11, 2015
Bought by
Gates Family Partnership Llc
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| West Market Street Llc | $1,100,000 | None Available | |
| Gates Family Partnership Llc | $1,100,000 | -- |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/27/2020 08/27/20 | Sold | $1,100,000 | -15.1% | $477 / Sq Ft |
| 05/28/2020 05/28/20 | Pending | -- | -- | -- |
| 04/10/2020 04/10/20 | For Sale | $1,295,000 | -- | $562 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,361 | $14,650 | $2,650 | $12,000 |
| 2024 | $722 | $14,650 | $2,650 | $12,000 |
| 2023 | $721 | $14,650 | $2,650 | $12,000 |
| 2022 | $696 | $14,650 | $2,650 | $12,000 |
| 2021 | $690 | $14,650 | $2,650 | $12,000 |
| 2020 | $688 | $14,650 | $2,650 | $12,000 |
| 2019 | $689 | $14,650 | $2,650 | $12,000 |
| 2018 | $643 | $14,650 | $0 | $0 |
| 2017 | $616 | $14,650 | $0 | $0 |
| 2016 | $585 | $14,650 | $0 | $0 |
| 2015 | $559 | $14,650 | $0 | $0 |
| 2014 | $555 | $14,650 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Ian Blyth
-
Michael Kennedy
Seller Co-Listing Agent in 2020
Michael Kennedy
Compass
(302) 381-7001
228 in this area
632 Total Sales
Map
Source: Bright MLS
MLS Number: DESU159534
APN: 335-08.08-30.00
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