30 Sussex, Lewes, De 19958 | $479,000

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Property Details

INTOWN LEWES under 480k with a two car garage! Established community of Highland Acres offers privacy yet two miles to beach and one mile to 2nd St. No HOA. Neighborhood tucked in off Savannah road yet walking distance to everything Lewes has to offe
  • MLS Number: 725988
  • Status: Active
  • Price: $479,000
  • Property Type:
  • Area: Lewes And Rehoboth Hundred
  • Community: Highland Acres
  • School District: Cape Henlopen
  • Square Footage: 1,750
  • Year Built: 1985
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Number of Stories: 1
  • New Construction: No
  • County Taxes: $887
  • City Taxes: $560
  • Furnished: No
  • Lot Square Feet: 13,939
  • Lot Size Acres: 0.32
  • Lot Description: Cleared
  • Water: Water-Public Central
  • Sewer: Sewer-Public Central

Interior Features

  • Kitchen: Breakfast Bar, Kitchen/Dining Room Combo
  • Heating: Forced Air, Heat Pump(s)
  • Cooling: Central A/C
  • Flooring: Hardwood-Synthetic
  • Basement: Crawl Space
  • Attic: Access Only
  • Appliances: Cable TV Pre Wired, Dishwasher, Disposal, Dryer-Electric, Microwave, Oven/Range Electric, Refrigerator, Washer, Water Heater Electric
  • Interior Features: Ceiling Fan(s), MBED-Full Bath, Window Treatments

Exterior Features

  • Style: Rancher/Rambler
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Garage: Attached
  • Garage Size: 2
  • Parking: Driveway/Off Street, Garage
  • Porch/Deck/Patio: Porch - Screened
  • Exterior Features: Outside Shower

Listing Courtesy of BERKSHIRE HATHAWAY HOMESERVICES GALLO-L

Lewes Multi-Family Housing: Investment and Residence Choice

Lewes multi-family housing is the umbrella term covering all the various kinds of residences that shelter more than one family. Everything from duplexes and homes with guest cottages to apartment complexes fall into the category, which is most often thought of in terms of the solid investment potential it represents.
While Lewes multi-family housing offers all of the same investment potential and more (the economies of scale can give an apartment building listing, for instance, many times the profit potential of a single family rental), a multi-family residence can also be the pathway to homeownership for a first-time home buyer. You might not think so, but when a prospective buyer will also be resident, standard financing guidelines—even for FHA loans—may apply. The lending particulars vary by a given Lewes property’s specifics—among other factors, whether or not cash flow-producing tenants are already in place. But the assumption that the higher mortgage amounts associated with multi-family housing opportunities automatically puts them out of reach ain’t (as the song says) necessarily so!
The NAR® finds that some 38% of residences are purchased by first-time buyers—yet it’s a safe bet that most of them would never consider that purchasing multi-family homes could be a great way to own their first home (and even generate some extra income at the same time). To begin to examine this as a possibility, some basic research into some of the key elements of multi-family financing is a logical preliminary step.
· Down Payment Options
Today’s loan requirements may be seeing some degree of easing, but most Lewes multi-family homes listings carry bigger down payments than single residences. Even so, some FHA loans for a one- to four-unit home require just a 3.5% down payment. A variety of other loan programs emphasizing affordable down payment options may also apply.
· Cash Reserves Requirements
Some traditional lenders have no specific cash reserve requirements, while the FHA has defined guidelines. For one- or two-unit properties, buyers must have one month’s worth of reserves (cash left after closing). For three- to four-unit homes, the requirement is for three months of reserves.
· Debt-to-Income Ratio
Lenders evaluate debt-to-income ratios to include other monthly debt payments as well as the anticipated mortgage payment. They weigh that against gross monthly income…and, needless to say, lenders who include a high percentage of projected rental income will be more likely to find a loan viable.
Whether you are a first-time or veteran home buyer, considering Lewes's multi-family housing listings is an idea that may be worth pursuing. Give me a call to discuss how one of today’s prime offerings might fit into your future! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestate.com.

Five Qualities Distinguish the Best Delaware Real Estate Agent

If you are just about to commit to buying or selling a home in Delaware, the first important task before you comes with identifying the best Realtor® to assist your effort. That comes first because although you might begin by combing through the current Delaware listings or driving through the neighborhood to spot what’s going on, there is always a possibility that acting without delay will be important. If that happens to be the case, zeroing in on the best Delaware agent takes first priority.

How you ultimately select that best real estate agent for you involves a selection process that’s a lot like any business person's procedure—except that it’s easier to identify the candidates. You won’t have to post “help wanted” ads since the candidates (myself included) are all actively looking for you! We are the prominent Delaware brokers and agents whose names you see on the web and on our “FOR SALE” signs. They’re all over the place.

 The true lion’s share of the work of identifying your best “hire” will come in the conversations you have with the leading candidates. Whether you call them up or drop in on them at their office (or run into them at an open house), it’s important to bear in mind that these conversations, whether casual or not, are actually employment interviews. You’re the boss; the agents are applicants—and the hiring decision is a very important one. During these interactions, if you can determine that the agent you’re speaking with is strong in these five qualities, you’ve found your agent:

  1. Accessible. The best Delaware real estate agent for you is easy to talk to—the kind of person you connect with automatically; who puts you at ease. The best agent will be someone who is engaging and enjoyable to talk with.
  2. Professional. At the same time (it only seems to conflict with the above), the best agent is a professional at all times. After all, some of the most durable friendships wind up being with people we’ve “been through the wars with” in business!
  3. Sympathetic. A lot of the business at hand will consist of pinpointing your personal tastes and leanings and prioritizing them correctly. The best Delaware real estate agent for you will be keenly aware of your preferences—which won’t be the same as everybody else’s.
  4. Authoritative. That best agent knows Delaware inside and out; is personally familiar with the current crop of area listings; is known and widely respected by her or his Delaware real estate colleagues.
  5. Dedicated. Your best partner in the upcoming campaign will be committed to the real estate profession—not just for this week or for this transaction, but for the long haul. The best Delaware real estate agent will be there for you the next time, too!

Needless to say, when you are narrowing the field for who you want to become your own best Delaware agent, I hope you’ll call me for a chat! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com