NOT LISTED FOR SALE

5 Laurel St Rehoboth Beach, DE 19971

Estimated Value: $2,023,029 - $3,457,000

0.11 Acre
$27,027,364 Price per Acre
5,000 Sq Ft Lot

Last Sold January 18, 2023

Last sale price $1,800,000

Est. 65% increase in value since last sale

Current estimated payment $16,825/month

141 Days on Market

Highlights

  • Water Oriented
  • Building is oceanfront but unit may not have water views
  • No HOA
  • Rehoboth Elementary School Rated A

About This Lot

As of January 2023

Build the home of your dreams in the ocean block South Rehoboth with potential for ocean views and breezes! This rarely available 50'x 100' building lot on Laurel Street has already been cleared, graded and ready for construction. Just one lot off the beach, this property is less than 200 feet to the boardwalk and beach, and within walking distance to the many shops and restaurants that line Rehoboth Avenue.

Last Agent to Sell the Property

Bryce Lingo

Jack Lingo - Rehoboth License #RA-0001746 Listed on: 07/02/2022

Jack Lingo - Rehoboth

Co-Listed By

Shaun Tull

Jack Lingo - Rehoboth License #RS-0016284

Last Buyer's Agent

Dave McCarthy

Dave McCarthy & Associates, Inc.

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $2,064

Year Built

  • 2023

Lot Details

  • 5,000 Sq Ft Lot
  • Lot Dimensions are 50.00 x 100.00
  • Building is oceanfront but unit may not have water views
  • Cleared Lot
  • Property is zoned TN

Schools

  • Rehoboth Elementary School
  • Beacon Middle School
  • Cape Henlopen High School

Utilities

  • Municipal Trash
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 5
  • Assessor Parcel Number 334-14.18-95.00

Community Details

Overview

  • No Home Owners Association
  • South Rehoboth Subdivision

Recreation

  • Water Oriented
  • Property is near an ocean

Property Details

Property Type

Land

Est. Annual Taxes

$2,064

Year Built

2023

Lot Details

0

Listing Details

  • Property Type: Land
  • Property Sub Type: Land
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Fee Simple
  • Current Use: Residential
  • Federal Flood Zone: No
  • Automatically Close On Close Date: No
  • Remarks Public: Build the home of your dreams in the ocean block South Rehoboth with potential for ocean views and breezes! This rarely available 50'x 100' building lot on Laurel Street has already been cleared, graded and ready for construction. Just one lot off the beach, this property is less than 200 feet to the boardwalk and beach, and within walking distance to the many shops and restaurants that line Rehoboth Avenue.
  • Special Features: None
  • Year Built (Public Record): 2023

Interior Features

  • Price Per Sq Ft: 379.00
  • Street Number Modifier: 5

Exterior Features

  • Construction Completed: No
  • Road Surface Type: Paved
  • Water Access: No
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: No
  • Water Oriented: Yes
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: No
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available
  • Water Source: Public
  • Municipal Trash: Yes
  • Internet Services: Cable

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: 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

  • Horses: No
  • Additional Parcels: No
  • Land Use Code: RS
  • Lot Features: Cleared
  • Lot Size Acres: 0.11
  • Lot Dimensions: 50.00 x 100.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 5000.00
  • Year Assessed: 2021
  • Zoning: TN
  • Farmland Preservation: No
  • In City Limits: Yes

Rental Info

  • Ground Rent Exists: No
  • Lease Considered: No
  • Vacation Rental: No

Tax Info

  • School Tax: 1168.00
  • School Tax Pymnt Freq: Annually
  • Tax Annual Amount: 2064.00
  • Assessor Parcel Number: 334-14.18-95.00
  • Tax Lot: 5
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2021
  • Close Date: 01/18/2023

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 22, 2024
Sold by
Wallace Todd A and Wallace Margaret
Bought by
Mtw Properties Llc
Total Days on Market
141
Current Estimated Value
$2,973,010

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Outstanding Balance
$1,984,867
Interest Rate
6.99%
Mortgage Type
New Conventional
Estimated Equity
$988,143

Purchase Details

Listed on
Jul 2, 2022
Closed on
Jan 18, 2023
Sold by
Revocable Trust
Bought by
Wallace Todd A and Wallace Margaret
Seller's Agent
Bryce Lingo
Jack Lingo - Rehoboth
Buyer's Agent
Dave McCarthy
Dave McCarthy & Associates, Inc.
List Price
$2,100,000
Sold Price
$1,800,000
Premium/Discount to List
-$300,000
-14.29%
Views
129

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.36%
Original Mortgage
$1,260,000
Interest Rate
6.33%
Mortgage Type
Credit Line Revolving
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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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
Mtw Properties Llc -- None Listed On Document
Wallace Todd A $1,800,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mtw Properties Llc $2,000,000
Previous Owner Wallace Todd A $2,400,000
Previous Owner Wallace Todd A $1,260,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/18/2023 01/18/23 Sold $1,800,000 -5.0% --
11/17/2022 11/17/22 Price Changed $1,895,000 -5.0% --
09/23/2022 09/23/22 Price Changed $1,995,000 -5.0% --
07/02/2022 07/02/22 For Sale $2,100,000 -- --
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 $2,393 $27,400 $12,500 $14,900
2023 $1,349 $27,400 $12,500 $14,900
2022 $1,302 $27,400 $12,500 $14,900
2021 $1,290 $27,400 $12,500 $14,900
2020 $1,286 $27,400 $12,500 $14,900
2019 $1,288 $27,400 $12,500 $14,900
2018 $1,203 $27,400 $0 $0
2017 $1,152 $27,400 $0 $0
2016 $1,094 $27,400 $0 $0
2015 $1,046 $27,400 $0 $0
2014 $1,038 $27,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Bryce Lingo

    Seller's Agent in 2023

    Bryce Lingo

    Jack Lingo - Rehoboth

    (302) 226-6417

    202 in this area

    391 Total Sales

    Bryce Lingo
    Section Image
  • Shaun Tull

    Seller Co-Listing Agent in 2023

    Shaun Tull

    Jack Lingo - Rehoboth

    (302) 226-6417

    184 in this area

    299 Total Sales

    Shaun Tull
    Section Image
  • Dave McCarthy

    Buyer's Agent in 2023

    Dave McCarthy

    Dave McCarthy & Associates, Inc.

    (302) 650-0820

    31 in this area

    49 Total Sales

    Dave McCarthy
    Section Image
  • Walt Cassel

    Buyer Co-Listing Agent in 2023

    Walt Cassel

    Dave McCarthy & Associates, Inc.

    (917) 826-8867

    28 in this area

    39 Total Sales

    Walt Cassel
    Section Image
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Map

Source: Bright MLS

MLS Number: DESU2024574

Bright MLS

APN: 334-14.18-95.00

Delaware Sussex County Rehoboth Beach 19971

5 Laurel St, Rehoboth Beach, DE

This home is located at 5 Laurel St, Rehoboth Beach, DE 19971 since 02 July 2022 and is currently estimated at $2,973,010. This property was built in 2023. 5 Laurel St 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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