Four-Bedroom Residential Income
New
For Sale
$600,000
20411 JEB Dr, Rehoboth Beach, DE 19971
Townhome with dual primary suites, a screened porch, and access to a community pool.
Property Size1,800 SF
Days on Market2
Property Features for 20411 JEB Dr
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Investment
Units
Unit Mix
1 x 4BR/3.5BA
Multifamily Units
1
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
pool
screened-in porch
Building Details
Building Size
1,800 SF
Year Built
2003
Units
1
Listing Agency:
(240) 499-6532
Listed By:
Rich Meadows III
(240) 499-6532
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rich Meadows III
Investment Insights
Based on property information with market context.
This 4-bedroom, 3.5-bathroom townhome at Oyster Bay Villas was built in 2003 and features a multi-level layout with two primary suites. One suite is located on the first floor, while the upper-level suite includes a private bath. The residence also provides an additional guest bedroom and full bath, along with an open living, dining, and kitchen arrangement. Interior features include hardwood flooring, stainless steel appliances, granite countertops, extensive cabinetry, a backsplash, and a breakfast bar. A screened porch adds a separate area for outdoor use.
The property is less than two miles from Rehoboth Beach’s sand and boardwalk. It is adjacent to local bike paths and the Lewes-Rehoboth Canal route, with an outdoor community pool nearby. Route 1 outlet shopping, dining, grocery stores, and state parks are within minutes. The property records a bike score of 84 and a walk score of 65.
The property is less than two miles from Rehoboth Beach’s sand and boardwalk. It is adjacent to local bike paths and the Lewes-Rehoboth Canal route, with an outdoor community pool nearby. Route 1 outlet shopping, dining, grocery stores, and state parks are within minutes. The property records a bike score of 84 and a walk score of 65.
Key Highlights
- 4‑bedroom, 3.5‑bathroom townhome built in 2003
- Two primary suites, including one on the first floor
- Screened porch plus access to the community outdoor pool
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,682
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$353,640
$353.6K
Cap Rate 7%
$252,600
$252.6K
Cap Rate 9%
$196,467
$196.5K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.1K $18.96/SF
− Vacancy
−$2.0K −$1.10/SF
EGI
$32.1K $17.86/SF
− OpEx
−$14.5K −$8.04/SF
NOI
$17.7K $9.82/SF
Area
Sussex County, DE
Vacancy
5.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$353,640
Cap Rate 7%
$252,600
Cap Rate 9%
$196,467
Alternative Uses
Best Use
Apartment 5plus
$252.6K
$221.0K – $294.7K
NOI $17,682 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.6K
$432.8K – $577.1K
NOI $34,625 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 19971, DE
14,348
Population
16,948
Households
0.8
Avg Household Size
60
Median Age
55%
College-Educated
96%
High-School Grad
18.0 sq mi
ZIP Area
797
Density / Sq Mi
$103,301
Median Household Income
$49,905
Median Earnings
$1,383
Median Rent
$561,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhome with dual primary suites, a screened porch, and access to a community pool.
Where is this residential income property located?
The property is located at 20411 JEB Dr Rehoboth Beach, DE.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4‑bedroom, 3.5‑bathroom townhome built in 2003; Two primary suites, including one on the first floor; Screened porch plus access to the community outdoor pool
