121 Houston St., Dewey Beach, De 19971 | $799,900

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Property Details

RENTAL INVESTMENT or REMODEL or BUILD NEW!! Unique property in it's own right. Large lot. Two 1 level, rustic with knotty pine apartments w/3bdrm, 1bath each with one being down and one up. Each has it's own porch, there are 2 outside showe
  • MLS Number: 724482
  • Status: Active
  • Price: $799,900
  • Property Type:
  • Area: Dewey To Lewes East Of Canal
  • School District: Cape Henlopen
  • Square Footage: 2,400
  • Year Built: 1965
  • Bedrooms: 6
  • Full Bathrooms: 2
  • Number of Stories: 2
  • New Construction: No
  • County Taxes: $1,060
  • City Taxes: $500
  • Furnished: Yes
  • Lot Dimensions: 50'x104'x50'x104'
  • Lot Square Feet: 5,212
  • Lot Size Acres: 0.12
  • Water: Public Central Water
  • Sewer: Public Central Sewer

Interior Features

  • Kitchen: Breakfast Bar, Eat In
  • Heating: Baseboard Electric
  • Cooling: Wall Unit
  • Flooring: Carpet, Hardwood, Vinyl
  • Appliances: Microwave, Oven/Range Electric, Refrigerator, Water Heater Electric
  • Interior Features: Built In Bookcases, Cable TV Prewired

Exterior Features

  • Style: Flat/Apartment
  • Construction Type: Stick/Frame
  • Exterior Type: Aluminum Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Parking: Driveway/Off Street
  • Porch/Deck/Patio: Porch - Enclosed, Porch - Front

Listing Courtesy of CROWLEY ASSOCIATES REALTY INC.

When’s the Best Time to List a Delaware Vacation Home?

Before April 15th came and went, perhaps you and your accountant had one of those occasional chats about your assets and liabilities. If owning your vacation home in Sussex Countyhas resulted in more taxes or less financial gain than you’d planned for—or if you and your family just don’t use the place as often as you used to–this spring or summer is a good time to consider selling. If you have lost some love for your extra house, but don’t want to go through the rigmarole of renting it out season-to-season, the selling alternative could be at hand.

 USA Today recently featured an article headlined,How to Sell Vacation Property.” In it, author Jennifer Eblin pointed out, “Your real estate agent should understand that selling a vacation property is different from selling any other piece of property…and have intimate knowledge of the surrounding area.

That kind of experience is doubly helpful when it comes from dealing with vacation homes similar to your own. If your home-away-from-home is in a condominium community, a Realtor® who is  familiar with the community is most likely to have intimate knowledge of price points, selling points—and deal breakers that can sometimes make all the difference for your own sale.

Just as important as teaming with the right real estate agent is making sure the property is in top condition. Few Sussex County vacation home buyers will be looking for a “fixer-upper”—so plan to spruce up the house before it goes on the market. Make small repairs, repaint dull or off-color walls, and depersonalize as much as possible. Picture what drew you to the property back when you bought it: present that same space and feeling to the new owners.

In almost every case, right about now is a highly favorable time to list a Sussex County vacation home. This is the season when people are looking forward to the warmer months and wishing they had a great place of their own in which to enjoy them. With winter still fresh in people’s minds, a well-priced Sussex County vacation home listing stands the best chance of drawing a crowd.

The bottom line is that selling a vacation home in Sussex County is about selling an idea—whether it’s a rustic escape or a luxurious retreat from the daily grind. Make sure your property speaks that language, and I’ll be standing by--ready to do the rest!  

Student Loans: Less of a Mortgage Obstacle than Thought

 All of a sudden last month Delaware readers might have come across a number of new articles dealing with the same topic: the problem young first time home buyers are encountering due to outstanding student loans. The target group is the millennials—everyone born between the early 1980s and 2000s. If you are one of them, you are frequently reminded that there are millions and millions of you out there. And millions who also share the same student loan problem.

There are conflicting accounts of the precise size of the issue, but it seems that the average college graduate now carries somewhere between $30,000 - $50,000 in debt upon graduation. The Federal Reserve says that the amount of student debt has more than doubled since 2007, to something like $1.3 trillion, at this point!

Nobody would deny that this appears to be a roadblock to young adults contemplating applying for their first Delaware mortgage. Dealing with banks or any lending institutions for the first time always has the aura of stepping into alien territory. A major unknown is the detail known as the debt-to-income ratio.

Apparently many would-be first-time homebuyers who are thinking about qualifying for Delaware mortgages automatically assume that their own debt-to-income ratios disqualify them from consideration, even though that’s not necessarily the case. At least according to the folks at Equifax, the debt reporting company, that perception is at odds with the reality.

The debt-to-income ratio is the monthly dollar amount an individual must produce in order to service his or her combined debts in relation to their total income. It is not the total amount of debt (no matter how soberingly large that number might be). Rather, it’s the ratio between the cash in and cash out per month. That becomes a considerably less daunting proposition because it’s a measure that can be improved much more rapidly. A recent survey showed that most respondents assumed that they had to reduce their debt payments by more than $300 per month in order to qualify for a mortgage, but an actual analysis showed that the real number was most often less than $300—and sometimes as little as $150.

Qualifying for Delaware mortgages differs for everyone, so the takeaway for Delaware Millennials (as for every other first time home buyer) is that assumptions shouldn’t get in the way of real fact-finding. Give me a call if you’d like to get a broad view of today’s Delaware starter home offerings. It could be that you are closer to moving into a home of your than you think! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com