Furnished Two-Bedroom Income
For Sale
$324,900
35542 E ATLANTIC CIRCLE #207, Rehoboth Beach, DE 19971
First-floor condo with an open layout, screened porch, in-unit laundry, and private storage.
Property Size950 SF
Days on Market106
Property Features for 35542 E ATLANTIC CIRCLE #207
General Information
Standard status
Active
Size
950 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Amenities
in-unit laundry
screened porch
private storage closet
Building Details
Building Size
950 SF
Year Built
2003
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Lee Ann Wilkinson · License #RA-0002064
(302) 645-6661
Source:
Stevedeboe.kw
Added: Jul 17
Changed: Oct 26
Last Checked: Oct 28 at 4:50AM
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 Berkshire Hathaway HomeServices PenFed Realty
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Investment Insights
Based on property information with market context.
This furnished residential income property is a first-floor condominium built in 2003. The two-bedroom, two-bath layout places the kitchen, dining area, and living room within one open-concept gathering space. Luxury vinyl plank flooring runs throughout, and the owner's suite is separated from the guest bedroom for added privacy. The guest room connects to a full bathroom, while in-unit laundry and a private storage closet add everyday functionality.
A screened porch extends the living area outdoors and provides a defined space for enjoying the coastal setting. The property is located between Lewes and Rehoboth Beach, with access to beaches, restaurants, shopping, golf, entertainment, and outdoor recreation. Furnishings are included, supporting use as a primary residence, vacation getaway, or investment property.
A screened porch extends the living area outdoors and provides a defined space for enjoying the coastal setting. The property is located between Lewes and Rehoboth Beach, with access to beaches, restaurants, shopping, golf, entertainment, and outdoor recreation. Furnishings are included, supporting use as a primary residence, vacation getaway, or investment property.
Key Highlights
- Furnished first‑floor condominium with 2 bedrooms and 2 full bathrooms
- Built in 2003 with luxury vinyl plank flooring throughout
- Open‑concept kitchen, dining, and living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,332
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,640
$186.6K
Cap Rate 7%
$133,314
$133.3K
Cap Rate 9%
$103,689
$103.7K
Market Conditions
NOI Build-Up for 950 SF
Gross rent
$18.0K $18.96/SF
− Vacancy
−$1.0K −$1.10/SF
EGI
$17.0K $17.86/SF
− OpEx
−$7.6K −$8.04/SF
NOI
$9.3K $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%
$186,640
Cap Rate 7%
$133,314
Cap Rate 9%
$103,689
Alternative Uses
Best Use
Apartment 5plus
$133.3K
$116.7K – $155.5K
NOI $9,332 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.1K
$228.4K – $304.6K
NOI $18,274 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condo with an open layout, screened porch, in-unit laundry, and private storage.
Where is this residential income property located?
The property is located at 35542 E ATLANTIC CIRCLE #207 Rehoboth Beach, DE.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Furnished first‑floor condominium with 2 bedrooms and 2 full bathrooms; Built in 2003 with luxury vinyl plank flooring throughout; Open‑concept kitchen, dining, and living areas
