34 Short Road, Bethany Beach, De 19930 | $1,750,000

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Property Details

A rare opportunity. A beautifully designed and maintained oceanside coastal retreat, just 3 houses off the ocean, located in a private community with private beach access in Middlesex Beach. This quality custom built home reflects pride of ownership
  • MLS Number: 727385
  • Status: Active
  • Price: $1,750,000
  • Property Type:
  • Area: Fenwick/Bethany East Of Canal
  • Community: Middlesex Beach
  • School District: Indian River
  • Square Footage: 2,970
  • Year Built: 2003
  • Bedrooms: 5
  • Full Bathrooms: 3
  • Half Bathrooms: 2
  • Number of Stories: 3
  • New Construction: No
  • County Taxes: $1,798
  • Association Fee: $2,200
  • Sewer Fee: $286
  • Water View: Ocean
  • Furnished: Yes
  • Lot Square Feet: 9,000
  • Lot Size Acres: 0.21
  • Lot Description: Landscaped, Trees/Wooded
  • Water: Public Central Water
  • Sewer: Public Central Sewer
  • Community Amenities: Beach, Water/Lake Privilege

Interior Features

  • Kitchen: Breakfast Bar, Countertops - Granite, Kitchen/Dining Room Combo, Pantry
  • Heating: Gas - Propane, Multi Zone
  • Cooling: Central A/C, Heat Pump(s)
  • Flooring: Carpet, Hardwood
  • Attic: Access Only
  • Security: Security System
  • Appliances: Central Vacuum, Dishwasher, Disposal, Dryer-Electric, Fridge w/Ice Maker, Garage Door Opener, Microwave, Oven/Range Electric, Oven-Self Cleaning, Washer, Water Heater Electric
  • Interior Features: Cable TV Prewired, Ceiling Fan(s), Elevator, Fireplace-Gas, Insulated Door(s), Insulated Window(s), Insulation, MBED-Full Bath, Screen(s), Two Master Bedrooms, Vaulted Ceilings, Walk-In Closets, Window Treatments

Exterior Features

  • Style: Coastal
  • Construction Type: Stick/Frame
  • Exterior Type: Hardi-Plank
  • Roofing: Architectural Shingle
  • Foundation: Pilings
  • Garage: Under Home
  • Garage Size: 2
  • Parking: Covered Parking, Driveway/Off Street
  • Porch/Deck/Patio: Deck - Front, Deck - Side, Three Season Room
  • Exterior Features: Outside Shower

Listing Courtesy of VICKIE YORK AT THE BEACH REALTY

How Experts Project Your Bethany Beach Home Value Growth

If you are an Bethany Beach homeowner (or about to become one), you’ll be interested in the progression of your Sussex County home’s value over time. The market may fluctuate, but what doesn’t is your goal of seeing your property value go up — in other words, calculating its Return on Investment. In economic terms, evaluating the projected ROI tells you how much profit there would be if the home is sold at a later time.

There are two major methods of calculating real estate ROI. Both take cost and appreciation into account — but they come up with quite different answers!

The Cost Method gives a smaller ROI. Consider buying an Bethany Beach house for $100,000. Ubiquitous Zillow (the Internet giant) pegs the current annual appreciation rate for real estate in the U.S. at 6%. If our Bethany Beach market proves true to that projection, the example Sussex County home value would register $106,000 after the first year. If $2,000 were spent on repairs, that means a $4,000 profit would result, and the ROI for that one year would be $4,000 divided by $102,000: 3.9%. At that ROI, it would take roughly 26 (100 divided by 3.9) years to equal the cost of the home.

Sometimes called the "Out of Pocket" method, this calculation yields a higher ROI. Here, ROI is calculated based on the size of the down payment (assuming a mortgage is involved). Take the same example: the Sussex County home valued at $100,000. You won’t actually pay that whole amount — just the down payment (say, $20,000). To evaluate the ROI, the down payment is added to the repair costs ($20,000+$2,000) and that number is subtracted from the appreciated home value ($106,000-$22,000). The "equity" in this case is $84,000, so the ROI in that single year is $84,000/$106,000 = 79.2%. Although this sounds terrific, it isn’t too realistic…after all, the mortgage left is still owed: it may not be "out of pocket" because it hasn’t been actually paid yet, but the remaining liability is real.

If you have Bethany Beach home value questions, I’m here to answer those and any other real estate-related needs. Call me anytime to discuss home values, ROI, or other property questions!

The Two Differing Situations for Bethany Beach Comparables

There are two kinds of situations that homeowners looking at Bethany Beach comparables run into:
1. THE SIMPLE COMPS: Your Bethany Beach home is part of an area that’s more uniform than not, in a neighborhood where there are a sufficient number of similar houses to have produced several sales recently. Your street may not be part of a literal development with models that have near-duplicate floor plans—but the area is, in general, homogenous. When it comes to selling your Bethany Beach home, you’re in luck!
2. THE NOT-SO-SIMPLE COMPS: AKA, the incomparable situation. Your area home is one of a kind, almost totally unlike any other in the neighborhood (two bedrooms, six-and-a-half baths) or unlike any other in any neighborhood (who else has a swimming pool built into the attic?). All right, maybe your house isn’t quite that weirdly incomparable, but it’s still the case that no similar home has sold within a 5-mile radius within the last year or two. When it comes to selling your Bethany Beach home, you may still be in luck—but not because of ‘the comps’!
When your property falls into the first category, one whole part of your selling situation becomes a piece of cake because of the comparables. Bethany Beach comparables from previous sales make the ultimate, convincing case that your home has at least $X value, because the market says so. In writing. Real people have plunked down their hard-earned dollars as proof. Even better, real banks have backed them up with their also very real dollars. It’s all verifiable in the public records.
When your property falls into the second category, in terms of the comparables for Bethany Beach, it really doesn’t matter if you have the most attractive house or the best bells and whistles and bathroom renovations that will take a buyer’s breath away. If no other home within a reasonable distance has sold with a reasonable period (say, six months) that are close to the same size as yours, or if none has anything like similar features, you and your Realtor® are going to be pretty much on your own even settling on a listing price. Here’s a few lesser known reasons why paying attention to comparables is important when selling your home.
· Unique amenities won’t always guarantee a higher comparable value. If the amenities are unusual for Bethany Beach, it might make it that much more difficult to find enough comparables in your area to come up with a listing price.
· School districts factor heavily into value. You might have grumbled about paying school taxes if you aren’t sending your own children off to school, but the quality of the school district has a large influence on comparables.
· Scarcity of housing inventory in your neighborhood can be either an advantage or disadvantage. It’s a plus if the housing inventory is low due to high demand (there will be enough recent sales information to set an accurate listing price). It’s a negative if scarcity occurs because no one is buying nearby homes—and appraisers will find it more difficult to place a value on the property.
It’s my job to get your home the best offers in the shortest amount of time for either category of Bethany Beach comparables. Give me a call—regardless of which one yours falls into, we’ll discuss how we can produce results that are truly incomparable! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestate.com.