20471 Lincoln Street

Rehoboth Beach, DE 19971

$734,000
Price
Beds
2,050 Sq. Ft.
$358 / Sq. Ft.
2,050
Sq. Ft.
$358
per Sq. Ft.

Description

Offers due by Tuesday, 4/23/2024 at 5:00pm. Investment opportunity! This 4-unit multi-family property is located east of the Lewes Rehoboth Canal and within biking distance of downtown Rehoboth and Dewey Beach. The property consists of two well maintained and recently updated buildings, each with 1st floor and 2nd floor units. 20473 #1 (front) - 2 bedrooms/1bath, 20473 #2 (front) - efficiency/1 bath, 20471 #1 (rear) - 3 bedrooms/2 bath, 20471 #2 (rear) - 1 bedroom/1bath. All units are occupied and...Offers due by Tuesday, 4/23/2024 at 5:00pm. Investment opportunity! This 4-unit multi-family property is located east of the Lewes Rehoboth Canal and within biking distance of downtown Rehoboth and Dewey Beach. The property consists of two well maintained and recently updated buildings, each with 1st floor and 2nd floor units. 20473 #1 (front) - 2 bedrooms/1bath, 20473 #2 (front) - efficiency/1 bath, 20471 #1 (rear) - 3 bedrooms/2 bath, 20471 #2 (rear) - 1 bedroom/1bath. All units are occupied and remain leased at market rental rates, with potential for rent growth in the future. Excellent investment property with attractive and stable income. Income and expenses available.
  1. Listed by SHAUN TULL • Jack Lingo - Rehoboth
    P: 3022266417 shaun@rbre.com
  2. Listed by BRYCE LINGO • Jack Lingo - Rehoboth
    P: 3022266417 shaun@rbre.com

Property Details for 20471 Lincoln Street

Tax ID Number
334-19.08-163.01
Ownership
Fee Simple
Structure Type
Detached
Style
Other
Waterfront
No
Garage
No
Subdivision
REHOBOTH MANOR
Subdivision
REHOBOTH MANOR (SUSSEX DE)

Location

Listing Courtesy of Jack Lingo - Rehoboth
Add your commute
LISTING UPDATED: 04/25/2024 12:11 PM

Property Details for 20471 Lincoln Street

StatusPending
MLS #DESU2059506
Days on Market16
Taxes$1,654 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1981
Lot Size0.21 AC / 9,148 SF
CountySussex County

Location

Listing Courtesy of Jack Lingo - Rehoboth
Add your commute

Building Information for 20471 Lincoln Street

Stories-Residences4Year Built1981Building Size-Lot Size0.21 AC / 9,148 SF

Payment Calculator

$4,144 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,006

Property Taxes

$138

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 20471 Lincoln Street

Location
Location
  • In City Limits: No
  • School District Name: CAPE HENLOPEN
  • School District County ID: 300200396895
  • SchoolDistrictSource: Listing Agent
  • County: SUSSEX
  • MLS Area: Lewes Rehoboth Hundred (31009)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Year Assessed: 2023
  • Clean Green Assessed: No
  • Land Use Code: 999
  • Zoning: GR
  • Tax Lot: 4
  • School Tax: $925
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Electricity, Insurance, Management, Sewer, Trash Collection, Water
Unit Information
Unit Information
  • Single Room Units Count: 1
  • One Bedroom Units Count: 1
  • Two Bedroom Units Count: 1
  • Three Bedroom Units Count: 1
  • Units Leased Count: 4
  • Number Of Units Vacant: 0
  • Number Of Units Month To Month: 0
  • Rent Control: No
Financial Information
Expenses
  • Operating Expense Includes: Insurance, Trash
  • Professional Management Expense: $8,042
Financial Information
  • Gross Income: $67,020
  • Net Operating Income: $45,325
  • Annual Rental Income: $67,020
  • Income Includes: Apartment Rentals
  • Existing Lease Type: Yearly, Gross
Building Info
Building Info
  • Building Level Count: 2
  • Building Units Total: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 50.00 x 190.00
  • Lot Dimensions Source: Assessor
  • Road Frontage Length: 50.00
  • Parcel ID: 5201517
Parking
Parking
  • Type Of Parking: Off Street
  • Off Street - # of Spaces: 8
  • Parking Features: Crushed Stone
Interior Features
Interior Features
  • Interior Features: Ceiling Fan(s)
  • Fireplace: No
  • Appliances: Exhaust Fan, Oven/Range - Electric, Range Hood, Refrigerator, Dishwasher, Disposal
  • Accessibility Features: None
  • Security Features: Smoke Detector
  • Window Features: Screens
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Utilities: Cable TV, Electric Available, Sewer Available, Water Available
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating Fuel: Electric
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
  • Electric Service: 200+ Amp Service, Circuit Breakers
  • Internet Services: Cable
Confidential Data
Listing Office
  • List Agent AOR: Sussex County Association of REALTORS (DE)

Property History for 20471 Lincoln Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 20471 Lincoln Street

This home is within Cape Henlopen School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Rehoboth Elementary School
PublicK to 5

Mariner Middle School
Public6 to 8

Cape Henlopen High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Jack Lingo - Rehoboth

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.