2 Saulsbury Street # 5

Dewey Beach, DE
$ 299,000 Beds 3 Baths 2 Sq 950
Monthly Estimate* How much can I afford?

This is for you IF: This is a ground lease property. There are 6 years remaining on the ground lease- you leave the property at the end of the 6 year term-no buy out or renewal option . Must be a cash buyer only- financing is not an option for only a 6 year term. Great opportunity to enjoy 6 years of OCEAN FRONT!! Welcome to Shorebreak on Saulsbury!" This charmingly appointed, recently renovated condo sits directly atop the beach! It features 3 bedrooms and 2 baths, central HVAC, hardwood floors throughout, granite countertops in the full kitchen, two reserved parking spaces, and direct dune access to the beach. Located in Colonial Seas, the 6-unit building received a new roof in 2019, and new stairs are set to be installed in November 2020. Association dues cover all grounds and exterior building maintenance, communal hot water, outside shower, community grill and dune seating. Unit #5 generated over $65,000 of rental income in 2020; take out the covid losses and income would be closer to 80K. The prime Summer weeks rent for $4,250/week, and are consistently fully booked. There are 6 years left on the land lease at a very low $1,200 per year, so you can recoup your investment AND enjoying living in style right on the beach!

Contingent

  • Price
  • $ 299,000
  • Lot Size
  • 0.32 Acres
  • Bedrooms
  • 3
  • Sqr Footage
  • 950
  • Full Bathrooms
  • 2
  • Year Built
  • 1963
  • Half Bathrooms
  • 0
  • City, Zip
  • Dewey Beach
  • Taxes
  • 803
  • County
  • SUSSEX
  • Style
  • Coastal,Unit/Flat
  • Area
  • Lewes Rehoboth Hundred
  • MLS#
  • DESU172744
  • Zip
  • 19971
Listing Provided by: Jack Lingo - Rehoboth

Features

General

Acceptable Financing Cash
Accessibility Other
Appliances Dishwasher, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Washer, Water Heater
Architectural Style Coastal, Unit/Flat
Association Amenities Beach
Association Fee Includes Insurance, Trash, Management, Lawn Maintenance
Association Y/N No
Building Name Colonial Seas
Condo/Coop Association Y/N Yes
Construction Materials Vinyl Siding
Cool Fuel Electric
Cooling Heat Pump(s), Central A/C
County SUSSEX
Electric Fuses, Circuit Breakers
Elementary School REHOBOTH
Exclusions Dining Table and chairs, hand chair, standing mirror in hall, artwork and personal items belonging to sellers.
Exterior Features Flood Lights, Street Lights
Facing Direction South
Flooring Hardwood
Garage Y/N No
HOA Fee 2 400.00
HOA Fee 2 Frequency Monthly
Heating Heat Pump(s)
High School CAPE HENLOPEN
High School District CAPE HENLOPEN
Interior Features Kitchen - Country, Floor Plan - Open, Wood Floors
Levels 1
Location Type Oceanfront
MLS Area Lewes Rehoboth Hundred (31009)
Middle/Junior High School BEACON
New Construction No
Other Structures Above Grade, Below Grade
Ownership Land Lease
Parking Features Assigned
Patio/Porch Features Porch(es), Screened
Possession Settlement
Price Per Sq Ft 314.74
Property Type Residential
PropertyCondition Very Good
Real Estate Owned Y/N No
Roof Flat
Security Features Smoke Detector
Senior Community Y/N No
Sewer Public Sewer
Structure Type Unit/Flat/Apartment
Subdivision Name REHOBOTH BY THE SEA
Sussex DE Quadrants East of Rt 1
Tax Annual Amount 803.0
Tax Year 2020
Total Units 6
Unit Number 5
Utilities Cable TV
Vacation Rental Y/N Yes
View Ocean
Water Access Y/N Yes
Water Body Name Atlantic Ocean
Waterfront Features Sandy Beach
Zoning TN
Zoning Description Town Codes

Interior Features

Above Grade Finished Area 950
Above Grade Finished Area Source Estimated
Above Grade Finished Area Unit Type Square Feet
Basement Y/N No
Bathrooms Count Main Level 2.00
Bathrooms Full Main Level 2
Below Grade Finished Area Source Assessor
Below Grade Finished Area Unit Type Square Feet
Below Grade Unfin Area Units Square Feet
Below Grade Unfin Sqft Source Assessor
Central Air Y/N Yes
Entry Level 2
Fireplace Y/N No
Full Baths 2
Heating Fuel Electric
Heating Y/N Yes
Hot Water Electric
Laundry Type Has Laundry
Living Area 950
Main Level Bedrooms 3
Room Type Living Room, Kitchen, Screened Porch
Total Baths 2
Total Bedrooms 3
Total Rooms 8

Exterior Features

# Of Assigned Spaces 2
Door Features Insulated
Foundation Details Slab
Inclusions Furniture with exclusions
Lot Dimensions 0.00 x 0.00
Lot Features Private
Lot Size Acres 0.32
Lot Size Source Assessor
Lot Size Square Feet 13939.00
Navigable Water Y/N Yes
Parking Lot - # Of Spaces 2
Pool Y/N No Pool
Road Surface Type Paved
Total Parking Spaces 2
Type of Parking Parking Lot
Water Access Features Public Beach, Swimming Allowed
Water Body Type Ocean
Water Oriented Y/N Yes
Water Source Public
Water View Y/N Yes
Waterfront Y/N Yes

Room Details

Kitchen Main
Living Room Main
Screened Porch Main

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,068

Per Month

Based on the average sale price from the Ashburn, VA office

  • Monthly Principal & interest $1,939
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

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

Price History

11/6/2020 Listed $299,000

Property vs Zip Code Average in 19971

Price
AVG $720K
$300K
Taxes
AVG $1,273
$803
Visits
AVG 70
44
Year Built
AVG 1991
1963
Walkscore
AVG 36
34
Data Provided by Walkscore ® not using MLS data

Map

2 Saulsbury Street # 5 Dewey Beach, DE is a Single Family Home for sale at $299000 with 950 sqft and a lot size of 0.32 Acres Acre(s). 2 Saulsbury Street # 5 Dewey Beach has 3 bedrooms, 2 baths and was built in 1963. The property's zip code is 19971 which is in Dewey Beach, DE

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.