Ground-Level Residential Income
For Sale
$324,900
36011 CONDO DRIVE #A106, Rehoboth Beach, DE 19971
Two-bedroom condominium with an open layout, screened porch, owner’s suite, and access to a community pool.
Property Size936 SF
Days on Market84
Property Features for 36011 CONDO DRIVE #A106
General Information
Standard status
Active
Size
936 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
community pool
Building Details
Building Size
936 SF
Year Built
1989
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Lee Ann Wilkinson · License #RA-0002064
(302) 645-6661
Source:
Stevedeboe.kw
Added: Jul 15
Changed: Sep 2
Last Checked: Oct 5 at 3:30PM
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
Investment Insights
Based on property information with market context.
This 1989 residential income property is a ground-level, end-unit condominium with two bedrooms and an open floor plan. The interior includes an owner’s suite with an en suite bath, while a private screened porch extends the living area outdoors. Residents also have access to a community pool.
The property is located in Beachaven at 36011 Condo Drive in Rehoboth Beach, Delaware, positioned between Lewes and Rehoboth Beach. Its setting places the condominium near local area attractions and the beach.
The property is located in Beachaven at 36011 Condo Drive in Rehoboth Beach, Delaware, positioned between Lewes and Rehoboth Beach. Its setting places the condominium near local area attractions and the beach.
Key Highlights
- Ground‑level, end‑unit condominium
- Two‑bedroom layout with an open floor plan
- Owner’s suite includes an en suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,194
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,880
$183.9K
Cap Rate 7%
$131,343
$131.3K
Cap Rate 9%
$102,156
$102.2K
Market Conditions
NOI Build-Up for 936 SF
Gross rent
$17.7K $18.96/SF
− Vacancy
−$1.0K −$1.10/SF
EGI
$16.7K $17.86/SF
− OpEx
−$7.5K −$8.04/SF
NOI
$9.2K $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%
$183,880
Cap Rate 7%
$131,343
Cap Rate 9%
$102,156
Alternative Uses
Best Use
Apartment 5plus
$131.3K
$114.9K – $153.2K
NOI $9,194 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.2K
$225.1K – $300.1K
NOI $18,005 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
738
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 - Two-bedroom condominium with an open layout, screened porch, owner’s suite, and access to a community pool.
Where is this residential income property located?
The property is located at 36011 CONDO DRIVE #A106 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: Ground‑level, end‑unit condominium; Two‑bedroom layout with an open floor plan; Owner’s suite includes an en suite bath
