20467 Lincoln St., Rehoboth Beach, De 19971 | $599,900

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Property Details

Investor alert! Walk or bike to downtown Rehoboth, the beach and boardwalk, and Dewey attractions. Potential for $36,000 annual rental income from this spacious 7 bedroom home just outside of city limits has great rental potential! 1.4 miles to the b
  • MLS Number: 721425
  • Status: Active
  • Price: $599,900
  • Property Type:
  • Area: Dewey To Lewes East Of Canal
  • Community: Rehoboth Manor
  • School District: Cape Henlopen
  • Square Footage: 3,400
  • Year Built: 1959
  • Bedrooms: 7
  • Full Bathrooms: 4
  • Number of Stories: 2
  • New Construction: No
  • County Taxes: $804
  • Furnished: No
  • Lot Square Feet: 10,227
  • Lot Size Acres: 0.23
  • Lot Description: Landscaped
  • Water: Public Central Water
  • Sewer: Public Central Sewer

Interior Features

  • Heating: Heat Pump(s)
  • Cooling: Central A/C
  • Flooring: Carpet, Laminate, Tile
  • Basement: Crawl Space
  • Attic: Access Only
  • Appliances: Dishwasher, Disposal, Dryer-Electric, Fridge w/Ice Maker, Microwave, Oven/Range Gas, Refrigerator, Washer, Water Heater Electric
  • Interior Features: Bedroom-Entry Level, Cable TV Prewired, Ceiling Fan(s), MBED-Full Bath, Screen(s), Storm Door(s), Storm Window(s)

Exterior Features

  • Style: Coastal
  • Construction Type: Stick/Frame
  • Exterior Type: Brick, Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Parking: Driveway/Off Street
  • Porch/Deck/Patio: Balcony(s), Deck - Front
  • Exterior Features: Fencing-Partial, Storage Shed/Outbuilding

Listing Courtesy of OCEAN ATLANTIC SOTHEBY'S INTL REALTY

A Rehoboth Beach Vacation Home Makes Sense When You Add It Up

Deciding to buy a vacation home in Rehoboth Beach can be one of the smartest investments there is. Or it can turn into an irksome drain on time and pocketbook. As much as with any real estate transaction, buying a vacation home that fulfills its upside potential takes thoughtful weighing of all the advantages and drawbacks a second home entails.

There’s nothing better than having your own place to escape to when it’s time to get away… and if the same sanctuary can be rented out now and again, that extra income only adds appeal. Especially when you find a place that strikes an emotional cord, it can be hard to resist the impulse to just make an offer and work out the kinks later. All the same, it pays to keep an eye on some of the issues that don’t leap to mind when you think “vacation.” 

Even if it’s only a part-time venue, that Rehoboth Beach vacation home will need ongoing maintenance attention.  If you are a dedicated DIY hobbyist, that may not be a large issue; but if not, part of your due diligence will be verifying the availability and price of professional help.

For a second home to make financial sense, all expense items should be part of the budget calculations. A vacation home might be near enough to the water to warrant flood insurance (or extra work done to prepare it for floods), just as a cabin in a wildfire-prone area might be at greater risk of fire and need extra coverage. If your vacation home will involve a home loan, be prepared to pencil in a higher interest rate than what’s expected for a primary residence. Even if it’s just a bit higher, the total amount will add up over the life of the loan. Taking all expenses fully into account from the beginning means there will be no surprises later on.  

A Delaware vacation home should be a place that lowers everyday stress levels — not adds to them. There are plenty of properties available, so do give me a call. One of them might be just right for you! Call/text 302-228-7871or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and  waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.

Flipping or Buy-and-Hold? Strategic Choice for Rehoboth Beach In

When you own the Rehoboth Beach home your family lives in, you are by definition a real estate investor: it comes with the turf. Your investment is essentially a passive one. Until the day you decide to sell and move on, any improvement in its value is secondary to how well it serves to shelter your family.

How you think about your investment—and how you proceed to manage it—is altogether different when you buy a home purely as a financial venture. For one thing, you face an immediate strategic decision: will you be flipping for a quick short-term profit, or aim for the long term through a buy-and-hold strategy? You have to weigh some pros and cons in order to make the right decision.

Flipping

Pro: Capital is Freed

A flipping strategy minimizes the amount of time your investment capital is committed, freeing it for other uses. Should you identify another potentially lucrative investment, you will be able to take advantage of it.

Con: Unexpected Challenges

While flipping for short-term profit has definite ‘hands-on’ appeal, first-time investors can be surprised by unexpected complications. Properties that appear to be undervalued (and ripe for a quick flip!) may require costly fixes. Overspending on renovations quickly eats into profits, but underspending can lead to a lengthier holding time. Experienced Rehoboth Beach flipping veterans have learned to successfully gauge a property’s true turnaround value.

Additional Consideration: Taxes

Sussex County flipping has tax implications that impact the bottom line. Profits from a property owned more than a year are generally taxed at the ordinary income tax rate, while a property held for less than a year may be taxed at the capital gains rate. Local and state tariffs need to be considered as well—this is where input from a qualified professional is important.

Buy-and-Hold

Pro: Passive Investment

If management is outsourced to a professional property manager, the buy-and-hold strategy will require less personal attention than flipping does. Preparing a property for a flip often involves considerable time commitment and adept contractor schedule-juggling.

Con: Management Costs

The passive investment advantage holds true if outside management is contemplated— with commensurate expense. If you enjoy the challenge of successfully managing a property, this negative doesn’t apply.

Pro: Fewer Properties Need To Be Identified

Ultimately, successfully executing a flipping strategy means scrutinizing a huge number of properties over the course of time. In contrast, a buy-and-hold strategy necessitates finding only a few great bargains. Pursued intelligently, both buy-and-hold and quick flip strategies have proved profitable for many investors. Both call for finding solid value in Bethany Beach properties—which is where giving me a call comes in!