Gated First-Floor Income
For Sale
$339,000
33725 SKIFF ALLEY #107, Lewes, DE 19958
Well-maintained condo with split-bedroom layout, private balcony, and access to pool, kayak launch, elevators, and boat slips.
Property Size1,199 SF
Days on Market163
Property Features for 33725 SKIFF ALLEY #107
General Information
Standard status
Active
Size
1,199 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
private balcony
gated entrance
secure building access
outdoor pool
kayak storage and launch
available boat slips
Building Details
Building Size
1,199 SF
Year Built
2019
Stories
3
Listing Agency:
Compass
Listed By:
Joshua Wilt
(302) 273-4998
Source:
Stevedeboe.kw
Added: May 1
Changed: Oct 6
Last Checked: Oct 9 at 4:44PM
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 Compass
Investment Insights
Based on property information with market context.
This first-floor condominium in a gated community was built in 2019 and features a split-bedroom floor plan with LVP flooring throughout the main living areas. The open living space includes a shiplap-accented fireplace, while the kitchen is equipped with granite countertops and stainless-steel appliances. The primary suite offers a double vanity and tiled shower with frameless glass. A private balcony connects to both bedrooms and the family room.
Community features include gated entry, secure building access, elevators, an outdoor pool, kayak storage, and a kayak launch. Boat slips are available on a first-come basis. The property is located about 7 miles from both Lewes and Rehoboth Beach, with a bus stop at the community entrance. Seven-day minimum rentals are allowed, supporting use as a residence, beach getaway, or investment property.
Community features include gated entry, secure building access, elevators, an outdoor pool, kayak storage, and a kayak launch. Boat slips are available on a first-come basis. The property is located about 7 miles from both Lewes and Rehoboth Beach, with a bus stop at the community entrance. Seven-day minimum rentals are allowed, supporting use as a residence, beach getaway, or investment property.
Key Highlights
- First‑floor condo at 33725 SKIFF ALLEY #107, Lewes, DE 19958
- Built in 2019 with a split‑bedroom layout and LVP flooring in main living areas
- Private balcony accessible from both bedrooms and the family room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,778
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,560
$235.6K
Cap Rate 7%
$168,257
$168.3K
Cap Rate 9%
$130,867
$130.9K
Market Conditions
NOI Build-Up for 1,199 SF
Gross rent
$22.7K $18.96/SF
− Vacancy
−$1.3K −$1.10/SF
EGI
$21.4K $17.86/SF
− OpEx
−$9.6K −$8.04/SF
NOI
$11.8K $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 Rate 5%
$235,560
Cap Rate 7%
$168,257
Cap Rate 9%
$130,867
Alternative Uses
Best Use
Apartment 5plus
$168.3K
$147.2K – $196.3K
NOI $11,778 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.5K
$288.3K – $384.4K
NOI $23,064 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
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Business Placement
Demographics for 19958, DE
27,911
Population
19,410
Households
1.4
Avg Household Size
61
Median Age
49%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
590
Density / Sq Mi
$91,445
Median Household Income
$49,124
Median Earnings
$1,654
Median Rent
$488,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condo with split-bedroom layout, private balcony, and access to pool, kayak launch, elevators, and boat slips.
Where is this residential income property located?
The property is located at 33725 SKIFF ALLEY #107 Lewes, DE.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: First‑floor condo at 33725 SKIFF ALLEY #107, Lewes, DE 19958; Built in 2019 with a split‑bedroom layout and LVP flooring in main living areas; Private balcony accessible from both bedrooms and the family room
