NOT LISTED FOR SALE

302 Laurel St Rehoboth Beach, DE 19971

Estimated Value: $474,785 - $2,707,000

5 Beds
4.5 Baths
3,700 Sq Ft
$372/Sq Ft Est. Value

Last Sold May 27, 2022

Last sale price $2,395,000 $647 Per Sq Ft

Est. 43% decrease in value since last sale

Current estimated payment $7,855/month

5 Days on Market

Highlights

  • Eat-In Gourmet Kitchen
  • Coastal Architecture
  • Main Floor Bedroom
  • Rehoboth Elementary School Rated A
  • Wood Flooring
  • 3-minute walk to Rehoboth Elementary Playground

About This Home

As of May 2022

Built in 2018 by Echelon Custom Homes, this home is located on one of the quietest streets in town, with ample parking. Park the car and walk to Rehoboth Avenue for dinner, the boardwalk for a stroll or sit on the quiet front porch or large back patio. The owners thought of everything as this home was built with multiple gathering spaces, including a fully-equipped game room on the lower level. Features include double off-street parking spaces and a large outdoor closet for bikes & beach equipment. With a proven rental history, $127k of gross rental income in 2021 (notwithstanding part-time owner use), this is the perfect Rehoboth beach house for family enjoyment and income generation if desired.

Facts & Features: 3000 sf + Lower Level Game Room. 5 Bedrooms, 4.5 Baths. Wide-open floorplan featuring chef's kitchen with double islands, 2 dishwashers, 2 ovens & a wine fridge. Sleeping capacity of 14+. High efficiency HVAC and dual oversized water heaters. Outdoor beach and bike closet. Oversized solar system on roof (Owned). Professionally decorated – FULLY furnished (excluding 1 painting.) Large rear patio with pergola & outdoor teak dining table. Fully fenced backyard for privacy and pets. Private outdoor shower.

Rentals: Turnkey rental with great income potential and history. The owner's family used this home regularly and yet generated significant rental income to help offset the expenses of a beach home. This home has 35 Five Star Reviews as a vacation rental:
"What a beautiful open, gorgeous space with every amenity. The chef's kitchen, first and second floor living areas, double master bedrooms, easy proximity to the beach and town. Spotless brand new construction, lovely decoration, we camped out there and only went out to dinner once in five days it was so nice to be there! An oasis of a house in Rehoboth." "We just loved the house and the neighborhood. The kitchen is first rate, with two dishwashers and a wide open island. The dining room table runs alongside the kitchen and also opens into the living room area. The huge TV can be viewed from the kitchen as well as several surrounding sofas. Lots of closets and storage space. There is a master bedroom both on the first floor and the second floor so adults can be downstairs and the kids upstairs. We walked to the beach every single morning, and walked into town regularly. The house is spacious without being overwhelming and just filled with sunlight. A real find." Guest bookings through 8/20/22 to be inherited/honored by new owners. All rentals must be honored.

Last Listed By

Andy Meddick

Keller Williams Realty Listed on: 05/02/2022

Keller Williams Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,350

Year Built

  • Built in 2018

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 50.00 x 100.00
  • Downtown Location
  • North Facing Home
  • Vinyl Fence
  • Sprinkler System
  • Property is in excellent condition
  • Property is zoned TN

HOA Fees

  • $2 Monthly HOA Fees

Home Design

  • Coastal Architecture
  • Block Foundation
  • Frame Construction
  • Asphalt Roof
  • HardiePlank Type

Interior Spaces

  • Property has 2 Levels
  • Furnished
  • Ceiling height of 9 feet or more
  • Ceiling Fan
  • Recessed Lighting
  • Window Treatments
  • Window Screens
  • Open Floorplan
  • Dining Area
  • Game Room

Kitchen

  • Eat-In Gourmet Kitchen
  • Microwave
  • Extra Refrigerator or Freezer
  • Ice Maker
  • Dishwasher
  • Kitchen Island
  • Wine Rack
  • Disposal

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • En-Suite Bathroom
  • Walk-In Closet

Laundry

  • Laundry on upper level
  • Dryer
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 2 Parking Spaces
  • 2 Driveway Spaces

Eco-Friendly Details

  • Solar owned by seller

Outdoor Features

  • Outdoor Shower
  • Patio
  • Outdoor Storage
  • Outdoor Grill
  • Playground

Utilities

  • Central Air
  • Heat Pump System
  • Underground Utilities
  • 200+ Amp Service
  • Electric Water Heater
  • Municipal Trash

Community Details

  • Country Club Estate Owners HOA
  • Built by Echelon Custom Homes
  • Country Club Estates Subdivision

Listing and Financial Details

  • Property is used as a vacation rental
  • Tax Lot 16
  • Assessor Parcel Number 334-14.17-264.00

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,350

Year Built

Built in 2018

Lot Details

0

HOA Fees

$2 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Detached
  • Architectural Style: Coastal
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Fee Simple
  • Exclusions: Large painting of Philadelphia in the upstairs family room.
  • Inclusions: Fully furnished
  • New Construction: No
  • Story List: Lower 1, Main, Upper 1
  • Federal Flood Zone: No
  • Year Built: 2018
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: Built in 2018 by Echelon Custom Homes, this home is located on one of the quietest streets in town, with ample parking. Park the car and walk to Rehoboth Avenue for dinner, the boardwalk for a stroll or sit on the quiet front porch or large back patio. The owners thought of everything as this home was built with multiple gathering spaces, including a fully-equipped game room on the lower level. Features include double off-street parking spaces and a large outdoor closet for bikes & beach equipment. With a proven rental history, $127k of gross rental income in 2021 (notwithstanding part-time owner use), this is the perfect Rehoboth beach house for family enjoyment and income generation if desired. Facts & Features: 3000 sf + Lower Level Game Room. 5 Bedrooms, 4.5 Baths. Wide-open floorplan featuring chef's kitchen with double islands, 2 dishwashers, 2 ovens & a wine fridge. Sleeping capacity of 14+. High efficiency HVAC and dual oversized water heaters. Outdoor beach and bike closet. Oversized solar system on roof (Owned). Professionally decorated – FULLY furnished (excluding 1 painting.) Large rear patio with pergola & outdoor teak dining table. Fully fenced backyard for privacy and pets. Private outdoor shower. Rentals: Turnkey rental with great income potential and history. The owner's family used this home regularly and yet generated significant rental income to help offset the expenses of a beach home. This home has 35 Five Star Reviews as a vacation rental: "What a beautiful open, gorgeous space with every amenity. The chef's kitchen, first and second floor living areas, double master bedrooms, easy proximity to the beach and town. Spotless brand new construction, lovely decoration, we camped out there and only went out to dinner once in five days it was so nice to be there! An oasis of a house in Rehoboth." "We just loved the house and the neighborhood. The kitchen is first rate, with two dishwashers and a wide open island. The dining room table runs alongside the kitchen and also opens into the living room area. The huge TV can be viewed from the kitchen as well as several surrounding sofas. Lots of closets and storage space. There is a master bedroom both on the first floor and the second floor so adults can be downstairs and the kids upstairs. We walked to the beach every single morning, and walked into town regularly. The house is spacious without being overwhelming and just filled with sunlight. A real find." Guest bookings through 8/20/22 to be inherited/honored by new owners. All rentals must be honored.
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Dishwasher, Disposal, Microwave, Washer, Dryer, Refrigerator, Icemaker, Extra Refrigerator/Freezer, Water Heater
  • Flooring Type: Hardwood
  • Interior Amenities: Combination Kitchen/Dining, Dining Area, Entry Level Bedroom, Kitchen - Eat-In, Kitchen - Island, Primary Bath(s), Walk-In Closet(s), Window Treatments, Wood Floors, Carpet, Ceiling Fan(s), Combination Kitchen/Living, Kitchen - Gourmet, Pantry, Recessed Lighting, Wine Storage
  • Window Features: Screens
  • Fireplace: No
  • Wall Ceiling Types: 9'+ Ceilings, Dry Wall
  • Foundation Details: Block
  • Levels Count: 2
  • Room List: Game Room
  • Basement: No
  • Laundry Type: Upper Floor, Washer In Unit, Dryer In Unit
  • Total Sq Ft: 4500
  • Living Area Sq Ft: 3700
  • Price Per Sq Ft: 765.00
  • Above Grade Finished Sq Ft: 3000
  • Below Grade Finished Sq Ft: 700
  • Below Grade Sq Ft: 800
  • Total Below Grade Sq Ft: 1500
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 302

Beds/Baths

  • Bedrooms: 5
  • Main Level Bedrooms: 1
  • Total Bathrooms: 5
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Main Level Bathrooms: 2.00
  • Upper Level Bathrooms: 3
  • Upper Level Bathrooms: 3.00
  • Main Level Full Bathrooms: 1
  • Upper Level Full Bathrooms: 3
  • Main Level Half Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Frame, Hardiplank Type
  • Exterior Features: Outside Shower, Bbq Grill, Play Area, Secure Storage, Underground Lawn Sprinkler
  • Roof: Asphalt
  • View: Street
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Concrete Driveway
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: Driveway
  • Number of Spaces in Driveway: 2

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Electric Service: 200+ Amp Service, Circuit Breakers
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Security: Carbon Monoxide Detector(s), Smoke Detector
  • Sewer/Septic System: Public Sewer
  • Utilities: Under Ground
  • Water Source: Public
  • Municipal Trash: Yes
  • Internet Services: Cable

Condo/Co-op/Association

  • HOA Fees: 20.00
  • HOA Fee Frequency: Annually
  • Condo Co-Op Association: No
  • HOA Name: COUNTRY CLUB ESTATE OWNERS
  • HOA: Yes
  • Senior Community: No
  • Association Recreation Fee: No

Schools

  • School District: CAPE HENLOPEN
  • School District Key: 300200396895
  • School District Source: Listing Agent

Green Features

  • Green Power: Pv Solar Array(s) Owned
  • Clean Green Assessed: No

Lot Info

  • Fencing: Vinyl
  • Improvement Assessed Value: 32550.00
  • Land Assessed Value: 6250.00
  • Land Use Code: RS
  • Lot Size Acres: 0.11
  • Lot Dimensions: 50.00 x 100.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 4792.00
  • Outdoor Living Structures: Patio(s)
  • Property Condition: Excellent
  • Year Assessed: 2021
  • Zoning: TN
  • In City Limits: Yes

Building Info

  • Builder Name: Echelon Custom Homes

Rental Info

  • Furnished: Yes
  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Vacation Rental: Yes

Tax Info

  • Assessor Parcel Number: 5196664
  • School Tax: 1654.00
  • Tax Annual Amount: 2350.00
  • Assessor Parcel Number: 334-14.17-264.00
  • Tax Lot: 16
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2021
  • Close Date: 05/27/2022

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 2, 2022
Closed on
May 22, 2022
Sold by
Odonnell Mark G
Bought by
Crabdev Llc
Seller's Agent
Andy Meddick
Keller Williams Realty
Buyer's Agent
Carrie Lingo
Jack Lingo - Lewes
List Price
$2,295,000
Sold Price
$2,395,000
Premium/Discount to List
$100,000
4.36%
Total Days on Market
5
Current Estimated Value
$1,374,595

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,020,405
Avg. Annual Appreciation
-19.93%

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
Crabdev Llc $2,395,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Crabdev Llc $1,437,000
Previous Owner Delaplane James M $522,500
Previous Owner Odonnell Mark G $894,300
Previous Owner O'Donnell Mark $4,170,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/27/2022 05/27/22 Sold $2,395,000 +4.4% $647 / Sq Ft
05/07/2022 05/07/22 Pending -- -- --
05/02/2022 05/02/22 For Sale $2,295,000 -- $620 / 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 $1,912 $19,600 $6,250 $13,350
2023 $1,911 $19,600 $6,250 $13,350
2022 $1,844 $19,600 $6,250 $13,350
2021 $1,827 $19,600 $6,250 $13,350
2020 $1,822 $19,600 $6,250 $13,350
2019 $1,824 $19,600 $6,250 $13,350
2018 $1,704 $38,800 $0 $0
2017 $824 $19,600 $0 $0
2016 $783 $19,600 $0 $0
2015 $748 $19,600 $0 $0
2014 $743 $19,600 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: DESU2021010

Bright MLS

APN: 334-14.17-264.00