Seller's Agent in 2021
Tracy Kelley
Jack Lingo - Rehoboth
(302) 227-3883
8 in this area
47 Total Sales
2 Saulsbury St Unit 5 Dewey Beach, DE 19971
Estimated Value: $367,000 - $597,000
3
Beds
2
Baths
950
Sq Ft
$400/mo
HOA Fee
Highlights
- Ocean Front
- Beach
- Sandy Beach
- Rehoboth Elementary School Rated A
- Water Access
- 0.32 Acre Lot
About This Home
As of February 2021This is for you IF: This is a ground lease property. There are 6 years remaining on the ground lease- you leave the property at the end of the 6 year term-no buy out or renewal option . Must be a cash buyer only- financing is not an option for only a 6 year term. Great opportunity to enjoy 6 years of OCEAN FRONT!! Welcome to Shorebreak on Saulsbury!" This charmingly appointed, recently renovated condo sits directly atop the beach! It features 3 bedrooms and 2 baths, central HVAC, hardwood floors throughout, granite countertops in the full kitchen, two reserved parking spaces, and direct dune access to the beach. Located in Colonial Seas, the 6-unit building received a new roof in 2019, and new stairs are set to be installed in November 2020. Association dues cover all grounds and exterior building maintenance, communal hot water, outside shower, community grill and dune seating. Unit #5 generated over $65,000 of rental income in 2020; take out the covid losses and income would be closer to 80K. The prime Summer weeks rent for $4,250/week, and are consistently fully booked. There are 6 years left on the land lease at a very low $1,200 per year, so you can recoup your investment AND enjoying living in style right on the beach!
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $803
Year Built
- Built in 1963
Lot Details
- Ocean Front
- Home fronts navigable water
- Sandy Beach
- Public Beach
- South Facing Home
- Land Lease expires in 6 years
- Ground Rent expires in 6 years
- Property is in very good condition
HOA Fees
- $400 Monthly HOA Fees
Home Design
- Coastal Architecture
- Flat Roof Shape
- Slab Foundation
- Vinyl Siding
Interior Spaces
- 950 Sq Ft Home
- Property has 1 Level
- Open Floorplan
- Partially Furnished
- Insulated Doors
- Living Room
- Screened Porch
- Wood Flooring
- Ocean Views
- Flood Lights
Kitchen
- Country Kitchen
- Electric Oven or Range
- Microwave
- Dishwasher
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 2 Full Bathrooms
Laundry
- Dryer
- Washer
Parking
- 2 Open Parking Spaces
- 2 Parking Spaces
- Parking Lot
- 2 Assigned Parking Spaces
Outdoor Features
- Water Access
- Property is near an ocean
- Swimming Allowed
- Screened Patio
Location
- Flood Risk
Schools
- Rehoboth Elementary School
- Beacon Middle School
- Cape Henlopen High School
Utilities
- Central Air
- Air Source Heat Pump
- Electric Water Heater
- Cable TV Available
Listing and Financial Details
- Property is used as a vacation rental
- Assessor Parcel Number 334-20.14-251.00-5
Community Details
Overview
- Association fees include insurance, trash, management, lawn maintenance
- 6 Units
- Low-Rise Condominium
- Colonial Seas Community
- Rehoboth By The Sea Subdivision
Recreation
- Beach
Pet Policy
- Dogs Allowed
Security
- Fire and Smoke Detector
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 22, 2011
Bought by
Cs5 Llc
Total Days on Market
64
Current Estimated Value
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Cs5 Llc | $162,500 | -- |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/09/2021 02/09/21 | Sold | $299,000 | 0.0% | $315 / Sq Ft |
| 01/09/2021 01/09/21 | Pending | -- | -- | -- |
| 11/06/2020 11/06/20 | For Sale | $299,000 | -- | $315 / 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 |
|---|---|---|---|---|
| 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
-
Tracy Kelley
-
Melinda Ingram
Buyer's Agent in 2021
Melinda Ingram
Jack Lingo - Rehoboth
(302) 462-6581
1 in this area
83 Total Sales
Map
Similar Homes in the area
Source: Bright MLS
MLS Number: DESU172744
APN: 334-20.14-251.00-5
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