Edgewater House 2 Virginia Ave Unit 525 Rehoboth Beach, DE 19971
Estimated Value: $691,000 - $1,189,000
2
Beds
2
Baths
1,375
Sq Ft
$1,027/mo
HOA Fee
Highlights
- Ocean View
- Beach
- Access to Tidal Water
- Rehoboth Elementary School Rated A
- Home fronts navigable water
- Sandy Beach
About This Home
As of August 2018Seeking back-up offers! Rare opportunity to own a 2bd/2ba, 2-story 5th floor unit with a spectacular ocean front location! The large, covered balcony affords panoramic views of Rehoboth's famous beach & boardwalk, breath-taking sunrises, and all the sights & sounds of the ocean 24/7! Leave your car in the garage and walk or bike to the sandy beach, world class restaurants, boutique shopping and Funland. This desirable, maintenance-free, all-electric condo features open-concept living space and two private suites; one upstairs/one down. Enjoy the on-site private pool, laundry facilities and assigned parking. This unit consistently tops the charts in rentals due to its incredible location and 5th floor views. Close to the elevator, too! Comfortably sleeps 7-9. Sold subject to existing rentals: 15 weeks as of 5/12/18. Brought in over 44k in rental income in 2017!
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $1,397
Year Built
- Built in 1966
Lot Details
- Home fronts navigable water
- Sandy Beach
- Public Beach
- Landscaped
HOA Fees
- $1,027 Monthly HOA Fees
Home Design
- Flat Roof Shape
- Rubber Roof
- Piling Construction
- Masonry
- Stucco
Interior Spaces
- 1,375 Sq Ft Home
- Property has 2 Levels
- Furnished
- Ceiling Fan
- Insulated Windows
- Window Treatments
- Insulated Doors
- Intercom
Kitchen
- Electric Oven or Range
- Microwave
- Ice Maker
- Dishwasher
- Disposal
Flooring
- Carpet
- Tile or Brick
- Vinyl
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Parking
- 1 Parking Space Included
- 1 Assigned Parking Space
Outdoor Features
- Private Pool
- Access to Tidal Water
- Water Access
- Property is near an ocean
- Bulkhead
- Lake Privileges
- Balcony
Location
- Flood Risk
Utilities
- Central Air
- Heat Pump System
- 100 Amp Service
Listing and Financial Details
- Property is used as a vacation rental
- Assessor Parcel Number 334-14.14-23.00-525
Community Details
Overview
- Association fees include sewer, trash, common area maintenance
- Mid-Rise Condominium
- Edgewater House Community
- North Rehoboth Subdivision
Amenities
- Laundry Facilities
- Elevator
Recreation
- Beach
- Community Pool
Security
- Security Service
- Storm Doors
- Fire and Smoke Detector
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 14, 2018
Closed on
Sep 21, 2018
Sold by
Asuncion Frederick and Nugent Irvine
Bought by
James N Proakis T
Seller's Agent
ERIN S LEE
Keller Williams Realty
Buyer's Agent
JEANNE COPPOLA
Long & Foster Real Estate, Inc.
List Price
$624,900
Sold Price
$621,500
Premium/Discount to List
-$3,400
-0.54%
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
$295,097
Avg. Annual Appreciation
6.73%
Original Mortgage
$453,000
Interest Rate
4.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 1, 1999
Bought by
Wood Elizabeth B (Trustee)
Similar Homes in Rehoboth Beach, DE
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| James N Proakis T | $621,500 | -- | |
| Wood Elizabeth B (Trustee) | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | James N Proakis T | $450,000 | |
| Closed | James N Proakis T | $453,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/23/2018 08/23/18 | For Sale | $624,900 | +0.5% | $454 / Sq Ft |
| 08/08/2018 08/08/18 | Sold | $621,500 | -0.5% | $452 / Sq Ft |
| 06/26/2018 06/26/18 | Pending | -- | -- | -- |
| 05/14/2018 05/14/18 | For Sale | $624,900 | +9.4% | $454 / Sq Ft |
| 12/17/2015 12/17/15 | Sold | $571,000 | -23.8% | $415 / Sq Ft |
| 12/01/2015 12/01/15 | Pending | -- | -- | -- |
| 05/22/2015 05/22/15 | For Sale | $749,000 | -- | $545 / 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 | $1,282 | $21,150 | $0 | $21,150 |
| 2023 | $1,280 | $21,150 | $0 | $21,150 |
| 2022 | $1,236 | $21,150 | $0 | $21,150 |
| 2021 | $1,224 | $21,150 | $0 | $21,150 |
| 2020 | $1,221 | $21,150 | $0 | $21,150 |
| 2019 | $1,222 | $21,150 | $0 | $21,150 |
| 2018 | $1,142 | $26,000 | $0 | $0 |
| 2017 | $1,093 | $26,000 | $0 | $0 |
| 2016 | $1,039 | $26,000 | $0 | $0 |
| 2015 | $992 | $26,000 | $0 | $0 |
| 2014 | $985 | $26,000 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
ERIN S LEE
Seller's Agent in 2018
ERIN S LEE
Keller Williams Realty
(302) 470-0281
60 in this area
363 Total Sales
-
JEANNE COPPOLA
Buyer's Agent in 2018
JEANNE COPPOLA
Long & Foster
(302) 362-2222
1 in this area
2 Total Sales
-
Bill Mann
Seller's Agent in 2015
Bill Mann
Mann & Sons, Inc.
(302) 542-1696
2 in this area
5 Total Sales
-
Buyer's Agent in 2015
Kevin Willner
JOE MAGGIO REALTY
(410) 340-2201
124 Total Sales
About Edgewater House
Map
Source: Bright MLS
MLS Number: 1001573890
APN: 334-14.14-23.00-525
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