Seller's Agent in 2021
Manoj Philip
Keller Williams Realty Wilmington
(302) 383-8812
1 in this area
16 Total Sales
36525 Palm Dr Unit 5303 Rehoboth Beach, DE 19971
Estimated Value: $348,305 - $467,000
2
Beds
2
Baths
--
Sq Ft
$267/mo
HOA Fee
Highlights
- 1 Fireplace
- Furnished
- Stainless Steel Appliances
- Rehoboth Elementary School Rated A
- Community Pool
- Forced Air Heating and Cooling System
About This Home
As of May 2021What if you could own a beach house in just 30 days or less? And what if it was fully-furnished and updated? As if it couldn't get any better, what if I told you the rental income covers the current owners' entire yearly mortgage?! *Yes, this turnkey property is ready to make money for you on Day 1. We already have reservations booked for most of the summer, with some open slots for you to enjoy too. *So that means this income-producing investment is ready to go as soon as you sign the papers. *When guests book this condo, they stay for varying lengths of time: A few days, a week, etc. But regardless of their length of stay, the total income is enough to pay for the current owner's total property expenses. *Even when it's cold outside, this property produces income at the rate of roughly $1,500/month on average from October through April. If you think that's good, just wait until you see the revenue during the summer months! *The attached document shows the breakdown of gross income and operating expenses, so you can see the proof. Ask your agent to download it and send it to you. The document shows names of guests who rented this condo, so please keep that information confidential. That data was provided to prove that we aren't making up the numbers. So please use discretion when reviewing the document. *Why do people keep booking this condo? Because they love it! Nothing-less-than 5 Star reviews on Vrbo and Airbnb! Just look at all the recent updates or features: Pergo waterproof laminate flooring throughout the living area, tile flooring in the kitchen and bathrooms, quartz kitchen countertops, an undermount kitchen sink, stainless steel appliances, stylish lighting fixtures throughout the condo, modern fans in the living room and bedrooms (as well as a fan in the screened-in balcony), new vanities and toilets in both bathrooms and a new HVAC system (2020). *So, what’s the catch? There is no catch! *The owners can continue to profit from their investment. But for the magic number listed in front of you, they'll sell it. After all, a savvy investor like you already knows: Everything's for sale at the right price, especially when interest rates are this low. *And if we can't get that price, we'll simply take it off the market and the owners will enjoy other people paying their expenses. *So now's your chance to easily add wealth to your portfolio. Schedule your tour today! [Note 1]: Seller has ordered a new washer and a new dryer to replace the existing combination/stacked unit you see in the photo. Photos of the new units are provided. They'll be delivered and installed on May 1, 2021. [Note 2]: The interior photos were provided by the Seller and were taken at different times. The condo is also rented out, and subsequently cleaned, regularly. So taking all of this into consideration, the general decor may be slightly different than what you see in the photos since things may have been moved around by renters or the housecleaner, for example. [Note 3]: Any and all listing information and data are assumed to be accurate, but Buyer is responsible for verifying any and all listing information and data.
Last Agent to Sell the Property
(302) 383-8812 manoj@manojsellshomes.com Keller Williams Realty Wilmington License #RS-0019277 Listed on: 03/24/2021
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $617
Year Built
- Built in 2003
Lot Details
- Property is in excellent condition
HOA Fees
- $267 Monthly HOA Fees
Parking
- Parking Lot
Home Design
- Entry on the 3rd floor
- Vinyl Siding
Interior Spaces
- Property has 1 Level
- Furnished
- Ceiling Fan
- 1 Fireplace
Kitchen
- Electric Oven or Range
- Built-In Microwave
- Freezer
- Ice Maker
- Dishwasher
- Stainless Steel Appliances
- Disposal
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Home Security
Utilities
- Forced Air Heating and Cooling System
- Heat Pump System
- Vented Exhaust Fan
- Electric Water Heater
Listing and Financial Details
- Property is used as a vacation rental
- Assessor Parcel Number 334-13.00-317.00-5303
Community Details
Overview
- $650 Capital Contribution Fee
- Association fees include common area maintenance, pool(s), snow removal, exterior building maintenance, trash, reserve funds, road maintenance
- Low-Rise Condominium
- Palms Of Rehoboth Subdivision
Recreation
- Community Pool
Security
- Carbon Monoxide Detectors
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 4, 2019
Closed on
Apr 1, 2019
Sold by
Flannigan Paul D and Esteves Matthew D
Bought by
Dean Zachery K
Seller's Agent
Tracy Hynes
Berkshire Hathaway HomeServices PenFed Realty
Buyer's Agent
Madeleine Forrester
Coldwell Banker Realty
List Price
$214,900
Sold Price
$214,900
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
$178,676
Avg. Annual Appreciation
9.48%
Original Mortgage
$193,410
Outstanding Balance
$170,384
Interest Rate
4.4%
Mortgage Type
New Conventional
Estimated Equity
$223,192
Purchase Details
Closed on
Jun 30, 2003
Bought by
Flannigan Paul D and Esteve Matthew D
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 |
|---|---|---|---|
| Dean Zachery K | $214,900 | -- | |
| Flannigan Paul D | $166,200 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Dean Zachery K | $193,410 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/14/2021 05/14/21 | Sold | $326,000 | +0.3% | -- | |
| 04/02/2021 04/02/21 | Pending | -- | -- | -- | |
| 03/24/2021 03/24/21 | For Sale | $325,000 | +51.2% | -- | |
| 04/02/2019 04/02/19 | Sold | $214,900 | 0.0% | $202 / Sq Ft | View Prior Sale |
| 02/14/2019 02/14/19 | Pending | -- | -- | -- | |
| 02/04/2019 02/04/19 | For Sale | $214,900 | -- | $202 / 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 |
|---|---|---|---|---|
| 2025 | $539 | $12,650 | $0 | $12,650 |
| 2024 | $648 | $12,650 | $0 | $12,650 |
| 2023 | $648 | $12,650 | $0 | $12,650 |
| 2022 | $625 | $12,650 | $0 | $12,650 |
| 2021 | $619 | $12,650 | $0 | $12,650 |
| 2020 | $617 | $12,650 | $0 | $12,650 |
| 2019 | $618 | $12,650 | $0 | $12,650 |
| 2018 | $577 | $13,150 | $0 | $0 |
| 2017 | $553 | $13,150 | $0 | $0 |
| 2016 | $525 | $13,150 | $0 | $0 |
| 2015 | $502 | $13,150 | $0 | $0 |
| 2014 | $498 | $13,150 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Manoj Philip
-
Terry Stinson
Buyer's Agent in 2021
Terry Stinson
Keller Williams Realty
(302) 727-6200
6 in this area
14 Total Sales
-
Tracy Hynes
Seller's Agent in 2019
Tracy Hynes
BHHS PenFed (actual)
(302) 632-6325
1 in this area
19 Total Sales
-
Christopher Beagle
Seller Co-Listing Agent in 2019
Christopher Beagle
Compass
(215) 262-6209
26 in this area
56 Total Sales
-
Madeleine Forrester
Buyer's Agent in 2019
Madeleine Forrester
Coldwell Banker Realty
(443) 235-9838
2 in this area
80 Total Sales
-
Ryan Haley
Buyer Co-Listing Agent in 2019
Ryan Haley
Atlantic Shores Sotheby's International Realty
(443) 880-8078
2 in this area
378 Total Sales
Map
Source: Bright MLS
MLS Number: DESU179546
APN: 334-13.00-317.00-5303
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