tomo logo

$825,000

Beds
3
Baths
2.0
sq ft
1,750

37419 5th St, Rehoboth Beach, DE 19971

37419 5th St

REHOBOTH BEACH, DE 19971

  • 79 days on market
    • Price drop $25,000↓
Amazing opportunity to own a 2 BR+ loft home with a 1 BR accessory dwelling unit less about 2 miles from the beach in a waterfront community! You won't want to leave the huge, screened porch with views of the water, wetlands and Thompson Island!!This adorable cottage was remodeled to give an open floor plan and vaulted ceiling. Main home bath has heated floors. Loft could easily be converted to a 3rd BR. First floor features a spacious 1 BR ADU with an equally large, screened porch. The oversized lot (77 x 100) leaves ample room for a pool. With 20 owned solar panels the home has been net-zero energy usage!! Ample parking for all of your guests. Bay Vista features a private marina for boating enthusiasts. ADU has been rented year-round in the past for $1200/mo. (electric included!) but could easily rent for more!! The upstairs has rented as an Air B&B in the past, generating approx. $26K renting only in the summer season! The 2 units share a common laundry area and an outside shower. Seller has made several recent upgrades and has maintained the home well. Imagine the potential! New homes on smaller lots are selling in the $1.5M range! Scoop this up now, build your dream home in the future!

Details

Property type

Single Family Residence

Est. home value

$187,089

Lot size

7,700 sq ft

Price per sq ft

$472

Year built

1959

Annual property taxes

$660

HOA

No

Price History

10/26/2024
Bright

Bright #DESU2069502

Price change
$825,000
-2.94%
09/11/2024
Bright

Bright #DESU2069502

Listed
$850,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

CAPE HENLOPEN

School district: 

CAPE HENLOPEN

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$695,609
Asking price
$825,000
Closing costs (~8% of asking)
-$66,000
Est. remaining loan balance
-$63,391
Cash to seller
$695,609

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Jpmorgan Chase Bank Na

Loan start date

November 2011

Original loan amount

$89,449

Est. remaining balance

$63,391

Interest rate

4.09%

Loan type

Not Provided, 30 year

Seller

John David Mclaughlin

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 2:55 AM

Listing updated: 10/26/2024 at 3:04 PM

Listed by: ALLEN JARMON, NextHome Tomorrow Realty Phone #: (302) 601-4171

MLS: Bright #DESU2069502

Bright logo