NOT LISTED FOR SALE

2 Penn St Rehoboth Beach, DE 19971

Estimated Value: $2,229,586 - $3,369,000

0.51 Acre
$5,488,810 Price per Acre
22,216 Sq Ft Lot

Last Sold October 20, 2020

Last sale price $6,700,000 $859 Per Sq Ft

Current estimated payment $16,883/month

57 Days on Market

Highlights

  • Ocean Front
  • Access to Tidal Water
  • Corner Lot
  • Rehoboth Elementary School Rated A
  • 0.51 Acre Lot
  • No HOA

About This Lot

As of October 2020

Oceanfront at its very best! Half acre building lot fronting both the Atlantic Ocean and Silver Lake situated at the corner of Penn Street and East Lake Drive, the most desired location along the Delaware coast. Enjoy serene views while being just a short bike ride to the shops and restaurants that line Rehoboth Avenue. Rare opportunity.

Last Agent to Sell the Property

Bryce Lingo

(302) 226-6417 bryce@rbre.com Jack Lingo - Rehoboth License #RA-0001746 Listed on: 07/31/2020

Jack Lingo - Rehoboth

Co-Listed By

Shaun Tull

(302) 226-6417 shaun@rbre.com Jack Lingo - Rehoboth License #RS-0016284

Last Buyer's Agent

Allen Jarmon

(302) 745-5122 ajarmon113@gmail.com NextHome Tomorrow Realty License #RA-0002913

NextHome Tomorrow Realty

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $2,420

Lot Details

  • 0.51 Acre Lot
  • Lot Dimensions are 93x323x75x266
  • Ocean Front
  • Home fronts navigable water
  • Corner Lot
  • Property is zoned MR

Property Views

  • Ocean
  • Lake

Location

  • Flood Risk

Listing and Financial Details

  • Assessor Parcel Number 334-20.06-112.00

Community Details

Overview

  • No Home Owners Association

Recreation

  • Access to Tidal Water
  • Private Water Access
  • Property is near an ocean

Property Details

Property Type

Land

Est. Annual Taxes

$2,420

Lot Details

0

Listing Details

  • Property Type: Land
  • Property Sub Type: Land
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Fee Simple
  • Current Use: Residential
  • New Construction: No
  • Federal Flood Zone: Yes
  • Automatically Close On Close Date: No
  • Remarks Public: Oceanfront at its very best! Half acre building lot fronting both the Atlantic Ocean and Silver Lake situated at the corner of Penn Street and East Lake Drive, the most desired location along the Delaware coast. Enjoy serene views while being just a short bike ride to the shops and restaurants that line Rehoboth Avenue. Rare opportunity.
  • Special Features: None

Interior Features

  • Price Per Sq Ft: 316.09
  • Street Number Modifier: 2

Exterior Features

  • Construction Completed: No
  • View: Ocean, Lake
  • Water Access Features: Private Access
  • Water Access: Yes
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Tidal Water: Yes
  • Water View: Yes

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: No
  • Sewer/Septic System: Public Sewer
  • Water Source: Public
  • Municipal Trash: No

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Association Recreation Fee: 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 Features: Corner
  • Lot Size Acres: 0.51
  • Lot Dimensions: 93x323x75x266
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 22130.00
  • Year Assessed: 2020
  • Zoning: MR
  • Farmland Preservation: No
  • In City Limits: No

Rental Info

  • Ground Rent Exists: No
  • Lease Considered: No
  • Vacation Rental: No
  • Rent Spree Online Application: No

Tax Info

  • School Tax: 2191.00
  • Tax Annual Amount: 2420.00
  • Assessor Parcel Number: 334-20.06-112.00
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2020
  • Close Date: 10/20/2020

Multi Family

  • Federal Flood Zone: VE

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 31, 2020
Closed on
Oct 20, 2020
Sold by
Shell House Llc
Bought by
James C Dipaula Jr Ret
Seller's Agent
Bryce Lingo
Jack Lingo - Rehoboth
Buyer's Agent
Allen Jarmon
NextHome Tomorrow Realty
List Price
$6,995,000
Sold Price
$6,700,000
Premium/Discount to List
-$295,000
-4.22%
Current Estimated Value
$2,799,293

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$3,900,707
Avg. Annual Appreciation
-16.19%

Purchase Details

Closed on
Feb 18, 2020
Sold by
Shell House Llc
Bought by
Lombardi Paul V and Lombardi Bridgewater

Purchase Details

Closed on
Dec 9, 2014
Sold by
Dominick A Dominick A
Bought by
Shell House Llc

Purchase Details

Closed on
Dec 5, 2012
Sold by
Meredith Meredith and Townsend Jenney Meredith
Bought by
Shell House Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
James C Dipaula Jr Ret $6,700,000 None Available
Lombardi Paul V $6,500,000 None Available
Shell House Llc $1,500,000 --
Shell House Llc -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/20/2020 10/20/20 Sold $6,700,000 -4.2% $859 / Sq Ft
09/26/2020 09/26/20 Pending -- -- --
07/31/2020 07/31/20 For Sale $6,995,000 -- $897 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

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 $24,503 $219,200 $123,750 $95,450
2024 $13,816 $219,200 $123,750 $95,450
2023 $2,539 $219,200 $123,750 $95,450
2022 $2,450 $219,200 $123,750 $95,450
2021 $2,428 $219,200 $123,750 $95,450
2020 $6,902 $219,200 $123,750 $95,450
2019 $10,306 $219,200 $123,750 $95,450
2018 $9,626 $219,200 $0 $0
2017 $9,218 $219,200 $0 $0
2016 $8,756 $219,200 $0 $0
2015 $8,367 $219,200 $0 $0
2014 $7,405 $195,450 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Bryce Lingo

    Seller's Agent in 2020

    Bryce Lingo

    Jack Lingo - Rehoboth

    (302) 226-6417

    184 in this area

    345 Total Sales

    Bryce Lingo
    Section Image
  • Shaun Tull

    Seller Co-Listing Agent in 2020

    Shaun Tull

    Jack Lingo - Rehoboth

    (302) 226-6417

    176 in this area

    275 Total Sales

    Shaun Tull
    Section Image
  • Allen Jarmon

    Buyer's Agent in 2020

    Allen Jarmon

    NextHome Tomorrow Realty

    (302) 745-5122

    35 in this area

    76 Total Sales

    Allen Jarmon
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: DESU165578

Bright MLS

APN: 334-20.06-112.00

Delaware Sussex County Rehoboth Beach 19971

2 Penn St, Rehoboth Beach, DE

This home is located at 2 Penn St, Rehoboth Beach, DE 19971 since 31 July 2020 and is currently estimated at $2,799,293, approximately $358 per square foot. 2 Penn St is a home located in Sussex County with nearby schools including Rehoboth Elementary School, Mariner Middle School, and Cape Henlopen High School.

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