58 Maryland Ave APT 2, Rehoboth Beach, DE, 19971 | 4.51% Rental Yield

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58 Maryland Ave APT 2, Rehoboth Beach, DE, 19971 | 4.51% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Rental property for sale in Rehoboth Beach at 58 Maryland Ave APT 2, Rehoboth Beach, DE, 19971 priced at $599,000 converts $2,250/mo rent into after a $2,932/mo obligation. Total monthly income equals $2,250/mo. Return on cash invested prints 12.66% in year one, and rental yield reads 4.51% against a $599,000 entry. Equity gained on principal adds $3,865/yr, while 5% annual appreciation compiles into $165,493 by year five. Five-year ROI reaches 63.38% and total cumulative return in cash sums $124,894. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,250/mo property income covering a $2,932/mo payment, not borrower’s personal income.

Condo

Built in 1984

5,000 sqft lot

$N/A/sqft

No HOA

More details about the property

Located just two blocks from the iconic Rehoboth Beach boardwalk, this quaint 2-bedroom, 1-bath condo offers the perfect blend of comfort and convenience in the heart of this vibrant coastal town. Nestled within a charming 6-unit complex, this condo boasts a prime location, just a short stroll from the beach, boardwalk, and downtown shops and restaurants. Lovingly maintained, the condo features cozy living spaces, a fully-equipped kitchen, and a welcoming front porchideal for relaxing with a cool drink or enjoying people-watching on lively summer days. The property comes with assigned parking, so youll never have to worry about finding a spot. Theres also an on-site washer/dryer and personal storage closets in the basement to house all your beach essentials. Whether you're looking for a weekend retreat, a year-round escape, or an investment property, this cozy condo offers all you need for coastal living.

Neighborhood Data

Neighborhood data shown for ZIP Code: 19971, Rehoboth Beach, DE area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	18,117 (100%)
Owner Occupied HU	6,931 (38.3%)
Renter Occupied HU	1,380 ( 7.6%)
Vacant Housing Units	9,806 (54.1%)
Median Home Value	$664,792
Average Home Value	$784,663