2 Virginia Avenue, Rehoboth Beach, De 19971 | $624,900

I like it!

Email me 2 Virginia Avenue, Rehoboth Beach, De

*



* Required Fields

  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
  • Image Loading. Refresh your browser.
View Map
If this text does not disappear quickly, then your browser does not support Google Maps

Property Details

Rare opportunity to own a 2bd/2ba, 2-story 5th floor unit with a spectacular ocean front location! The large, covered balcony affords panoramic views of Rehoboth's famous beach & boardwalk, breath-taking sunrises, and all the sights & sounds of the o
  • MLS Number: 731594
  • Status: Active
  • Price: $624,900
  • Property Type:
  • Area: Lewes And Rehoboth Hundred
  • Community: North Rehoboth / Edgewater House
  • School District: Cape Henlopen
  • Square Footage: 1,375
  • Year Built: 1966
  • Bedrooms: 2
  • Full Bathrooms: 2
  • Number of Stories: 2
  • Unit Floor Number: 5
  • New Construction: No
  • County Taxes: $1,093
  • City Taxes: $304
  • Condo Fee: $12,320
  • Waterfront: Ocean
  • Water View: Ocean
  • Pool: Other See Remarks
  • Furnished: Yes
  • Lot Size Acres: 0.00
  • Lot Description: Bulkhead, Landscaped
  • Water: Public Central Water
  • Sewer: Public Central Sewer
  • Community Amenities: Beach, Laundry Facilities, Parking-Garage, Pool-Inground, Pool-Outdoor, Security, Water/Lake Privilege

Interior Features

  • Kitchen: Pantry
  • Heating: Heat Pump(s)
  • Cooling: Central A/C, Heat Pump(s)
  • Flooring: Carpet, Tile, Vinyl
  • Security: Main Entrance Locked, Smoke Detectors
  • Appliances: Dishwasher, Disposal, Fridge w/Ice Maker, Microwave, Oven/Range Electric
  • Interior Features: Bedroom-Entry Level, Broadband Access, Cable TV Prewired, Ceiling Fan(s), Insulated Door(s), Insulated Window(s), Insulation, Intercom, MBED-Full Bath, Storm Door(s), Window Treatments

Exterior Features

  • Style: Flat/Apartment
  • Construction Type: Masonry
  • Exterior Type: Stucco
  • Roofing: Flat, Rubber
  • Foundation: Pilings
  • Garage: Other See Remarks
  • Parking: Assigned, Garage
  • Porch/Deck/Patio: Balcony(s)

Listing Courtesy of KELLER WILLIAMS REALTY

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!

Delaware Buyers and Sellers Benefit from Recent Real Estate Tome

When it comes to making the most of Delaware real estate, knowledge is power. The schools didn’t teach us anything about selling a home or how to decide which home to buy, yet those are subjects that have lasting impacts on our lives. When such key decisions are in our immediate future, we come face-to-face with the importance of making the right choices, asking the right questions—and engineering the best deal.  

Whether or not you’re about to head a foray into Delaware real estate, here are a number of excellent recent books that will help arm you with actionable knowledge:

100 Questions Every First Time Home Buyer Should Ask

This book is a general go-to reference for buyers (and I think for sellers as well: being able to put yourself in the shoes of potential buyers is essential for intelligent marketing). Answers to the “100 Questions” are provided by top brokers from around the country, so every detail won’t necessarily answer our Delaware real estate specifics; but on the whole, this book is concise and informative. The questions are arranged in an easy-to-read format, separated into chapters like “Putting Together the Deal” and “How Do I Know What I Can Afford to Spend.” Readers rate it very highly.

Smart Essentials for Selling Your Home

Solid, practical information that can be invaluable for homeowners about to enter the Delaware real estate market. In the same way that 100 Questions book is also useful to sellers, this one would make excellent reading for itinerant home buyers who’d like to know what’s important to sellers…thus being one step ahead when it comes to striking a win/win deal. Smart Essentials is mercifully short: just under 100 pages.

Buying a Home: Don’t Let Them Make a Monkey Out of You

Newly updated and with the highest reader reviews, this one is most appropriate for potential buyers with little or no previous real estate experience. As author Musgrave puts it, the object here is “to convey to the reader only the necessary information—and not one word more.” The extremely easy-to-read, informal approach is a welcome departure for first-timers: no wonder readers are almost unanimous in agreeing that if first-time home buyers read just one book, this is a worthy choice.

Investing in Real Estate

A newly written follow-up to the 2008 best seller, this is an accessible starter book that addresses most of the key issues that successful real estate investors learn to evaluate. The index is especially useful for locating individual topics quickly (something eBook readers don’t need to worry about: they just highlight a search term).

Thinking of buying or selling real estate in Delaware?  Knowledge truly is power—and I’m here to share what I know and to bring it all to bear on your behalf! 

Savvy shoppers; don’t sit on the sidelines, call/text 302-228-7871 or 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.