NOT LISTED FOR SALE

2 Saulsbury St Unit 4 Dewey Beach, DE 19971

Estimated Value: $269,311 - $802,000

3 Beds
2 Baths
-- Sq Ft
$400/mo HOA Fee

Last Sold February 26, 2021

Last sale price $205,000

Est. 117% increase in value since last sale

Current estimated payment $2,874/month

102 Days on Market

Highlights

  • Ocean Front
  • Access to Tidal Water
  • Open Floorplan
  • Rehoboth Elementary School Rated A
  • Sandy Beach
  • Wood Flooring

About This Home

As of February 2021

Welcome to "Sea Gem"! This beautifully decorated 3 bedroom, 2 bath condo sits right on the beach! You can't get any closer to the ocean than this! This is just a 6 unit building with a new $30K roof in 2019. Exceptional rental income of $50-55K per year. The prime Summer weeks rent for $3,475.00/week and are fully booked. Enjoy this heated unit year round. Only 6 seasons left on the Land Lease at a very low $1,200 Land Rent per year! Rent from Memorial Day to Labor Day and use the rest of the year virtually "free"! Or enjoy it full time at a cost of $3,958 per month over the 6 years for only $285K! (Less than what someone would pay to rent this property year round!)

Last Agent to Sell the Property

Bob Walsh

BAY COAST REALTY License #RS-0019816 Listed on: 10/17/2020

Co-Listed By

Bill Ferreri

BAY COAST REALTY

Last Buyer's Agent

Bob Walsh

BAY COAST REALTY License #RS-0019816 Listed on: 10/17/2020

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $223

Lot Details

  • Ocean Front
  • Home fronts navigable water
  • Sandy Beach
  • Public Beach
  • 1 Common Wall
  • North Facing Home
  • Landscaped
  • Ground Rent expires in 6 years
  • Property is in very good condition

HOA Fees

  • $400 Monthly HOA Fees

Home Design

  • Architectural Shingle Roof
  • Stick Built Home

Interior Spaces

  • Property has 1 Level
  • Open Floorplan
  • Furnished
  • Ceiling Fan
  • Recessed Lighting
  • Window Treatments
  • Window Screens
  • Dining Area
  • Wood Flooring
  • Crawl Space

Kitchen

  • Breakfast Area or Nook
  • Eat-In Kitchen
  • Electric Oven or Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry in unit
  • Stacked Washer and Dryer

Parking

  • Parking Lot
  • Off-Street Parking
  • 2 Assigned Parking Spaces

Outdoor Features

  • Access to Tidal Water
  • Public Water Access
  • Property is near an ocean
  • Swimming Allowed

Schools

  • Rehoboth Elementary School
  • Beacon Middle School
  • Cape Henlopen High School

Utilities

  • Window Unit Cooling System
  • Electric Baseboard Heater
  • 120/240V
  • Electric Water Heater
  • Cable TV Available

Additional Features

  • Level Entry For Accessibility
  • Flood Risk

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 334-20.14-251.00-4

Community Details

Overview

  • Association fees include insurance, lawn maintenance
  • Low-Rise Condominium
  • Colonial Seas Condo Association Condos
  • Colonial Seas Community

Amenities

  • Common Area

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$223

Lot Details

0

HOA Fees

$400 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Garden 1 - 4 Floors
  • Architectural Style: Unit/Flat
  • Sussex De Quadrants: East of Rt 1
  • Accessibility Features: Level Entry - Main
  • Ownership: Condominium
  • Exclusions: Black sofa on porch.
  • Historic: No
  • Home Warranty: No
  • Inclusions: Furnished
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: Yes
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: Welcome to "Sea Gem"! This beautifully decorated 3 bedroom, 2 bath condo sits right on the beach! You can't get any closer to the ocean than this! This is just a 6 unit building with a new $30K roof in 2019. Exceptional rental income of $50-55K per year. The prime Summer weeks rent for $3,475.00/week and are fully booked. Enjoy this heated unit year round. Only 6 seasons left on the Land Lease at a very low $1,200 Land Rent per year! Rent from Memorial Day to Labor Day and use the rest of the year virtually "free"! Or enjoy it full time at a cost of $3,958 per month over the 6 years for only $285K! (Less than what someone would pay to rent this property year round!)
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Microwave, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked, Water Heater
  • Entry Floor: 1
  • Flooring Type: Wood
  • Interior Amenities: Breakfast Area, Ceiling Fan(s), Dining Area, Entry Level Bedroom, Floor Plan - Open, Kitchen - Eat-In, Wood Floors, Recessed Lighting, Window Treatments
  • Window Features: Screens
  • Fireplace: No
  • Common Walls: 1 Common Wall
  • Foundation Details: Crawl Space
  • Floors In Unit Count: 1
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 2

Beds/Baths

  • Bedrooms: 3
  • Main Level Bedrooms: 3
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Main Level Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Stick Built
  • Road Surface Type: Black Top
  • Roof: Architectural Shingle
  • Spa: No
  • Water Access Features: Public Access, Public Beach, Swimming Allowed
  • Water Access: Yes
  • Water Body Name: Atlantic
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: No Pool
  • Tidal Water: Yes
  • Water View: No

Garage/Parking

  • Assigned Spaces Count: 2
  • Garage: No
  • Parking Features: Asphalt Driveway, Assigned
  • Type Of Parking: Parking Lot, Off Street

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Electric Service: 120/240V
  • Heating Fuel: Electric
  • Heating Type: Baseboard - Electric
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv
  • Water Source: Public
  • Municipal Trash: No
  • Internet Services: Cable

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 1200.00
  • Condo Co-Op Fee Frequency: Quarterly
  • Condo Co-Op Name: Colonial Seas Condo Association
  • HOA Condo Co-Op Amenities: Common Grounds
  • HOA Condo Co-Op Fee Includes: Insurance, Lawn Maintenance
  • HOA Condo Co-Op Management Type: Owner/Self-Management
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Fee Information

  • Loss Mitigation Fee?: No

Schools

  • School District: CAPE HENLOPEN
  • Elementary School: REHOBOTH
  • Middle School: BEACON
  • High School: CAPE HENLOPEN
  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Key: 300200396895
  • School District Source: Listing Agent
  • Elementary School: REHOBOTH
  • High School: CAPE HENLOPEN
  • Middle Or Junior School: BEACON

Lot Info

  • Horses: No
  • Additional Parcels: No
  • Land Use Code: RC
  • Lot Features: Landscaping, Open
  • Property Condition: Very Good
  • Year Assessed: 2020
  • Zoning: TN
  • In City Limits: No

Green Features

  • Clean Green Assessed: No

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: Yes
  • Ground Rent Years Remaining: 6
  • Lease Considered: No
  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Total Actual Rent: 51000.00
  • Vacation Rental: Yes
  • Property Manager: No

Tax Info

  • Assessor Parcel Number: 5204297
  • School Tax: 202.00
  • Tax Annual Amount: 223.00
  • Assessor Parcel Number: 334-20.14-251.00-4
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 02/26/2021

Multi Family

  • Income Expense List: Annual Ground Rent
  • Waterfront Features: Sandy Beach

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 17, 1999
Bought by
Gritti Donald J and Gritti Patricia
Current Estimated Value
$445,578
Source: Public Records

Range of Values:

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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
Gritti Donald J $94,500 --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/26/2021 02/26/21 Sold $205,000 -16.3% --
01/27/2021 01/27/21 Pending -- -- --
11/17/2020 11/17/20 Price Changed $245,000 -5.6% --
10/30/2020 10/30/20 Price Changed $259,500 -8.9% --
10/17/2020 10/17/20 For Sale $285,000 -- --
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
2024 $553 $4,750 $0 $4,750
2023 $552 $4,750 $0 $4,750
2022 $544 $4,750 $0 $4,750
2021 $542 $4,750 $0 $4,750
2020 $541 $4,750 $0 $4,750
2019 $519 $4,750 $0 $4,750
2018 $209 $4,750 $0 $0
2017 $200 $4,750 $0 $0
2016 $218 $4,750 $0 $0
2015 $210 $4,750 $0 $0
2014 $208 $4,750 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Bob Walsh

    Seller's Agent in 2021

    Bob Walsh

    BAY COAST REALTY

    (302) 858-8462

    9 in this area

    27 Total Sales

    Bob Walsh
    Section Image
  • Bill Ferreri

    Seller Co-Listing Agent in 2021

    Bill Ferreri

    BAY COAST REALTY

    (302) 236-1261

    4 in this area

    23 Total Sales

    Bill Ferreri
    Section Image
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Map

Source: Bright MLS

MLS Number: DESU171248

Bright MLS

APN: 334-20.14-251.00-4

Delaware Sussex County Dewey Beach 19971

2 Saulsbury St Unit 4, Dewey Beach, DE

This home is located at 2 Saulsbury St Unit 4, Dewey Beach, DE 19971 since 17 October 2020 and is currently estimated at $445,578. 2 Saulsbury St Unit 4 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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