$389,000
$399,000
2.5%For more information regarding the value of a property, please contact us for a free consultation.
102 MARTIN LN #2 Rehoboth Beach, DE 19971
4 Beds
3 Baths
1,350 SqFt
Key Details
Sold Price $389,000
Property Type Single Family Home
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,350 sqft
Price per Sqft $288
Subdivision Truitts Midway
MLS Listing ID DESU168424
Sold Date 11/24/20
Style Contemporary
Bedrooms 4
Full Baths 3
HOA Y/N N
Abv Grd Liv Area 1,350
Originating Board BRIGHT
Year Built 1959
Annual Tax Amount $592
Tax Year 2020
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 75.00 x 100.00
Property Description
EXTRAORDINARY INVESTMENT OPPORTUNITY! This completely renovated and updated duplex with tenant occupancy and leases in place provides an uninterrupted income stream from the moment you take ownership. The property is ideally suited for either long term rentals as well as short term/weekly possibilities. This 2 unit, fully legal and county approved property, boasts of being fully renovated from top to bottom. Everything in the building was replaced except the walls and the roof which was installed in 2008. There are new windows and doors, rigid foam insulation in the walls that exceed code, and additions to the floor structure, prescribed by a licensed architect, to meet current building code. In addition to the required fire rated ceiling between the units, there is a sound isolation system that blocks most of the noise between the units. All the electric, plumbing, and HVAC are three years old and inspected to code. There is a commercial Wi-Fi system that covers both units with separate, secure networks, plus additional networks for guests and building management. It is also wired with 4 IP cameras and a network video recorder with remote access. The upstairs unit is a 2 bed, 1 bath with a laundry in the unit and enough closets for a long-term tenant or owner. It also has a deck for outdoor privacy. The downstairs unit is a 2 bed, 2 full baths with small closets to accommodate weekly rentals. There is a laundry in the shared storage room for the downstairs unit. That laundry was designed for the cleaners to use when they do the turn-over for weekly renters if needed. There is separate HVAC and electric for each unit, a new 100 foot-deep well with public sewer, and a shared hot water tankless propane system. Both units have stainless steel appliances, granite counter tops and custom purple heart breakfast bars. Four legal parking spaces (permits are included) are defined by railroad ties. It is all legal and was properly permitted as a duplex/rental. The property is located on a dead-end street in a small neighborhood without through traffic. It's within walking distance to restaurants and also convenient to the DART bus that serves the local beaches. Here are some financials that are currently in place. The owners pay for internet access, sewage, trash removal, & propane. Second-floor rent is 1200.00. The first-floor unit, due to some nicer finishes and 2nd full bath is 1300.00. Simply put - this is an excellent investment opportunity. Continue to rent both units OR live in one and rent the other OR rent one long term and the other short term OR etc. Don't miss this opportunity to start or add a great income producer to your investment portfolio!
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning MR
Direction Northeast
Rooms
Other Rooms Living Room, Bedroom 2, Kitchen, Bedroom 1, Laundry, Storage Room, Bathroom 1, Bathroom 2
Main Level Bedrooms 2
Interior
Interior Features Breakfast Area, Built-Ins, Ceiling Fan(s), Combination Kitchen/Dining, Entry Level Bedroom, Flat, Floor Plan - Open, Kitchen - Eat-In, Recessed Lighting, Tub Shower, Upgraded Countertops, Window Treatments, Primary Bath(s)
Hot Water Instant Hot Water, Propane
Heating Heat Pump(s)
Cooling Multi Units, Programmable Thermostat, Central A/C
Flooring Stone, Vinyl
Equipment Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer - Front Loading, Dual Flush Toilets, Energy Efficient Appliances, ENERGY STAR Clothes Washer, ENERGY STAR Dishwasher, Icemaker, Instant Hot Water, Oven - Self Cleaning, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, Water Heater - High-Efficiency, Water Heater - Tankless
Furnishings No
Fireplace N
Window Features Casement,Double Pane,Energy Efficient,ENERGY STAR Qualified,Insulated,Low-E,Screens,Vinyl Clad
Appliance Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer - Front Loading, Dual Flush Toilets, Energy Efficient Appliances, ENERGY STAR Clothes Washer, ENERGY STAR Dishwasher, Icemaker, Instant Hot Water, Oven - Self Cleaning, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, Water Heater - High-Efficiency, Water Heater - Tankless
Heat Source Electric
Laundry Dryer In Unit, Has Laundry, Lower Floor, Upper Floor, Washer In Unit
Exterior
Exterior Feature Deck(s)
Garage Spaces 4.0
Parking On Site 2
Utilities Available Cable TV, Phone Available
Water Access N
Roof Type Asphalt
Street Surface Access - On Grade,Black Top,Paved
Accessibility Roll-in Shower
Porch Deck(s)
Total Parking Spaces 4
Garage N
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Well
Architectural Style Contemporary
Level or Stories 2
Additional Building Above Grade, Below Grade
Structure Type Block Walls,Dry Wall
New Construction N
Schools
School District Cape Henlopen
Others
Pets Allowed Y
Senior Community No
Tax ID 334-12.00-145.01
Ownership Fee Simple
SqFt Source Assessor
Security Features Smoke Detector
Acceptable Financing Cash, Conventional
Horse Property N
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Pets Allowed Cats OK, Dogs OK
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Bought with CARRIE LINGO • Jack Lingo - Lewes
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