NOT LISTED FOR SALE

2 Saulsbury St Unit 5 Dewey Beach, DE 19971

Estimated Value: $319,000 - $638,000

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

Last Sold February 09, 2021

Last sale price $299,000 $315 Per Sq Ft

Est. 44% increase in value since last sale

Current estimated payment $2,799/month

64 Days on Market

Highlights

  • Ocean Front
  • Beach
  • Sandy Beach
  • Rehoboth Elementary School Rated A
  • Water Access
  • 0.32 Acre Lot

About This Home

As of February 2021

This 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!

Last Agent to Sell the Property

Tracy Kelley

Jack Lingo - Rehoboth License #RA-0031023 Listed on: 11/06/2020

Jack Lingo - Rehoboth

Last Buyer's Agent

Melinda Ingram

Jack Lingo - Rehoboth License #RS-0017875

Jack Lingo - Rehoboth

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
  • Heat Pump System
  • 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

Property Details

Home Type

Condominium

Est. Annual Taxes

$803

Year Built

Built in 1963

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: Coastal, Unit/Flat
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Land Lease
  • Exclusions: Dining Table and chairs, hand chair, standing mirror in hall, artwork and personal items belonging to sellers.
  • Inclusions: Furniture with exclusions
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: Yes
  • Year Built: 1963
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: This 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!
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Washer, Water Heater
  • Entry Floor: 2
  • Flooring Type: Hardwood
  • Interior Amenities: Kitchen - Country, Floor Plan - Open, Wood Floors
  • Fireplace: No
  • Door Features: Insulated
  • Foundation Details: Slab
  • Levels Count: 1
  • Room Count: 8
  • Room List: Living Room, Kitchen, Screened Porch
  • Basement: No
  • Laundry Type: Has Laundry
  • Total Sq Ft: 950
  • Living Area Sq Ft: 950
  • Price Per Sq Ft: 314.74
  • Above Grade Finished Sq Ft: 950
  • 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: Vinyl Siding
  • Exterior Features: Flood Lights, Street Lights
  • Road Surface Type: Paved
  • Roof: Flat
  • View: Ocean
  • Water Access Features: Public Beach, Swimming Allowed
  • Water Access: Yes
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: No Pool
  • Water View: Yes

Garage/Parking

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

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Heat Pump(s), Central A/C
  • Electric Service: Fuses, Circuit Breakers
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Security: Smoke Detector
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv
  • Water Source: Public
  • Internet Services: Cable

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 400.00
  • Condo Co-Op Fee Frequency: Monthly
  • Condo Co-Op Name: Self Managed
  • HOA Condo Co-Op Amenities: Beach
  • HOA Condo Co-Op Fee Includes: Insurance, Trash, Management, Lawn Maintenance
  • HOA: No
  • Senior Community: No
  • Association Recreation 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

  • Land Lease Amt Freq: Annually
  • Land Lease Years Remaining: 6
  • Land Use Code: RC
  • Lot Features: Private
  • Lot Size Acres: 0.32
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 13939.00
  • Outdoor Living Structures: Porch(es), Screened
  • Property Condition: Very Good
  • Year Assessed: 2020
  • Zoning: TN
  • Zoning Description: Town Codes
  • In City Limits: Yes

Rental Info

  • Furnished: Partially
  • Ground Rent Exists: Yes
  • Ground Rent Years Remaining: 6
  • Pets: Dogs Ok
  • Pets Allowed: Yes
  • Total Actual Rent: 85000.00
  • Vacation Rental: Yes
  • Property Manager: No

Tax Info

  • School Tax: 202.00
  • Tax Annual Amount: 803.00
  • Assessor Parcel Number: 334-20.14-251.00-5
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 02/09/2021

Multi Family

  • Federal Flood Zone: AO
  • 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
Mar 22, 2011
Bought by
Cs5 Llc
Current Estimated Value
$431,789
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
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

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

  • Tracy Kelley

    Seller's Agent in 2021

    Tracy Kelley

    Jack Lingo - Rehoboth

    (302) 227-3883

    7 in this area

    41 Total Sales

    Tracy Kelley
    Section Image
  • Melinda Ingram

    Buyer's Agent in 2021

    Melinda Ingram

    Jack Lingo - Rehoboth

    (302) 462-6581

    2 in this area

    83 Total Sales

    Melinda Ingram
    Section Image
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Map

Source: Bright MLS

MLS Number: DESU172744

Bright MLS

APN: 334-20.14-251.00-5

Delaware Sussex County Dewey Beach 19971

2 Saulsbury St Unit 5, Dewey Beach, DE

This home is located at 2 Saulsbury St Unit 5, Dewey Beach, DE 19971 since 06 November 2020 and is currently estimated at $431,789, approximately $454 per square foot. This property was built in 1963. 2 Saulsbury St Unit 5 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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