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Henry Jaffe

henry@jaffeassoc.com +1(302) 296-6646

Listed by Corey Harris • Crown Homes Real Estate

$ 1,148,000

Est. payment | -/mo

3 Beds

2 Baths

576 SqFt

Save

$ 1,148,000

Est. payment | -/mo

Save

3 Beds

2 Baths

576 SqFt

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 576 sqft

Price per Sqft $1,993

Subdivision None Available

MLS Listing ID DESU2115604

Style Coastal

Bedrooms 3

Full Baths 2

HOA Y/N N

Abv Grd Liv Area 576

Year Built 1960

Lot Size 0.370 Acres

Acres 0.37

Lot Dimensions 75.00 x 219.00

Property Sub-Type Detached

Source BRIGHT

Property Description

APPROVED preliminary plans to build THREE, 5 bed 4 bath homes! East of route one and an easy walk to Rehoboth Ave. Discover a rare opportunity to own a fully renovated, income-producing Rehoboth Beach cottage while unlocking incredible development potential. This charming coastal retreat sits on nearly half an acre and features a beautifully updated main cottage along with a separate in-law suite—perfect for extended family or vacation guests. The property currently operates as a successful short-term rental, generating approximately $45,000 per summer, even with two weeks reserved for the owner's family. Beyond its charm and consistent income, this property offers something truly special: C-1 zoning with preliminary approval already in place for three new 5-bedroom, 4-bath homes. Whether you're an investor seeking steady cash flow while you plan your project, or a developer ready to take advantage of the area's booming new construction market, this property checks every box. New development around the corner has sold homes exceeding of $1.6 million, proving the strong demand for high-end coastal living in this location. Situated just one lot from the Rehoboth-Lewes Canal, the property offers easy access to everything that makes Rehoboth Beach so desirable. A new city-approved bike path located about 40 feet away will soon connect directly to Rehoboth Avenue and the Boardwalk, allowing guests or future homeowners to enjoy the beach, dining, and shops without ever starting a car. Located outside of Rehoboth Beach city limits, the property falls under Sussex County jurisdiction—making the permitting process simpler, faster, and more cost-effective. And to make things even easier, the listing agent is a local builder and contractor who can complete the future builds for the new buyer. This is an exceptional opportunity to own a cash-flowing Rehoboth Beach classic with the potential to develop three new luxury homes in one of Delaware's most coveted coastal destinations. Buyer to confirm all permitted land uses with Sussex County. Buyer to perform all due diligence on zoning, use, approvals, etc. Seller is a licensed Delaware real estate agent, builder/contractor.

Location

State DE

County Sussex

Area Lewes Rehoboth Hundred (31009)

Zoning C-1

Rooms

Main Level Bedrooms 3

Interior

Hot Water Instant Hot Water, Electric

Heating Forced Air

Cooling Central A/C

Inclusions All Fixtures and Appliances, Most Furniture. To be determined by Buyer and seller

Fireplace N

Heat Source Electric

Exterior

Exterior Feature Deck(s)

Fence Fully

Water Access N

View Canal

Accessibility None

Porch Deck(s)

Garage N

Building

Story 1

Foundation Crawl Space

Above Ground Finished SqFt 576

Sewer Public Sewer

Water Well

Architectural Style Coastal

Level or Stories 1

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Cape Henlopen

Others

Senior Community No

Tax ID 334-19.08-24.00

Ownership Fee Simple

SqFt Source 576

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Nearby Locations

"I am committed to supporting clients in making informed real estate decisions, providing superior service, and generating results. Please give me a call or email if you have questions; I'm here to bring value, insight, and efficiency to your real estate objectives." -Henry Jaffe

+1(302) 296-6646

henry@jaffeassoc.com

37519 OYSTER HOUSE RD #1 Rehoboth Beach, DE 19971