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$390,000

  • Sold
  • Closed
  • Condo
  • 1 Bed
  • 1 Full Bath
  • 1 Partial Bath
  • 1,100 Sq. Ft.
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Location, location, location! This unit is priced to sell. It was tenant-occupied for many years and is now waiting for you to make your personalized improvements. Less than a half mile to the pristine beaches of the Atlantic Ocean. It is conveniently located between Dewey Beach & Rehoboth Beach. First floor and no stairs. Premium location overlooking a lovely pond with a fountain. Double sliding doors give access to your spacious patio. The open floor plan is anchored with a real wood-burning fireplace-a rare find in a condominium. The primary bedroom features an en-suite full bath. There is a powder room off the foyer. A full laundry room also serves as a pantry. Right outside the unit is a private storage closet. Several feet away is your assigned parking space and mailbox. Open guest parking is available. Spring Lake is a beautiful community featuring open space, a spring-fed lake, a pond, mature trees, and a community pool. Discover what coastal Delaware offers: miles of pristine beaches, no sales tax, low property taxes, and a Mid-Atlantic climate. The quarterly assessments consist of an operating assessment of $965, a reserve assessment of $360, and a trust assessment of $125, totaling $1,450 due quarterly. (2025 amount) There is an annual painting reserve assessment of $375 (2025 amount) billed with the first quarter assessments in December, bringing the first quarter assessment to $1,825, with the subsequent quarters staying at $1,450. There is a one-time working capital contribution payment due from the buyer directly to the Spring Lake Community Trust upon sale of $2,250 (2025)

Full Property Details for 20842 East Dr #524

General

  • Sold For: $390,000
  • Taxes: $1,272 (2024)
  • Status: Closed
  • Type: Condo
  • Source: BrightMLSMidAtlantic
  • MLS ID: DESU2074788
  • Added to Site: 418 day(s) ago

Interior

  • Rooms/Areas: Living Room, Dining Room, Kitchen, Laundry
  • Fireplace: Yes
  • Number of Fireplaces: 1
  • Fireplace(s): Wood, Wood
  • Appliances: Dishwasher, Disposal, Dryer - Electric, Microwave, Oven/Range - Electric, Refrigerator, Washer
  • Flooring: Carpet, Vinyl

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Main Floor Baths: 2
  • Main - Full Baths: 1
  • Main - 1/2 Baths: 1

Bedrooms

  • Total Bedrooms: 1
  • Bedrooms Main & Up: 1

Other Rooms

  • Living Room: Living Room, Main
  • Kitchen: Kitchen, Main
  • Dining Room: Dining Room, Main
  • Laundry: Dryer In Unit, Washer In Unit, Main

Additional Information

  • Shared Amenities: Pool - Outdoor
  • Shared Pool: Yes
  • Pool: Yes

Exterior

  • Exterior Features: Underground Lawn Sprinkler, Water Fountains
  • Porch/Patio/Deck: Patio(s)

Parking

  • Total Spaces: 1
  • Parking Features: General Common Elements, Lighted Parking, Parking Space Conveys
  • Parking Type: Parking Lot

Location

  • Area: Lewes Rehoboth Hundred (31009)
  • County: Sussex
  • Development Name: Spring Lake
  • Subdivision: Spring Lake
  • Building Name: NONE AVAILABLE
  • Cross Streets: Spring Lake Dr.
  • Driving Directions: Turn into Spring Lake make second left onto East Drive and go around to building 5. Unit is on the first floor left corner.
  • Direction Faces: East

School Information

  • School District: Cape Henlopen

Community

  • Assoc. Fees Include: Common Area Maintenance, Ext Bldg Maint, Insurance, Lawn Care Front, Lawn Care Rear, Lawn Maintenance, Management, Pool(s), Reserve Funds, Snow Removal, Trash
  • Pets Allowed: Yes
  • Pets: Cats OK, Dogs OK

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Central, Forced Air, Heat Pump(s)
  • Heating Fuel: Electric
  • Water Heater: 60+ Gallon Tank, Electric

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Dist. to Water: 2500 Feet

Structural Information

  • Architectural Info: Coastal, Unit/Flat
  • Architectural Style: Coastal, Unit/Flat
  • Structure Type: Garden 1 - 4 Floors
  • Construction: Block, Cedar, Stick Built
  • Foundation: Slab
  • Roof: Architectural Shingle
  • Common Walls: 2+ Common Walls
  • Windows: Double Pane, Screens
  • Doors: Sliding Glass
  • Entry Floor Number: 1
  • Stories/Levels: 0
  • Stories Description: Main
  • Square Feet: 1,100
  • Sq. Ft. Source: Estimated
  • Living Area: 1,100 Sq. Ft.
  • Year Built: 1988
  • Year Built Source: Estimated

Lot Features

  • Property View: Pond, Scenic Vista
  • Lot Dimensions: 0.00 x 0.00
  • Zoning: HR-2

Water Features

  • Water View: Yes
  • Water Front Type: Ocean
  • Water Front Name: Atlantic Ocean

Financial Considerations

  • Price Per Sq. Ft.: $372.73
  • Assessment Year: 2024
  • School Tax: $1,157
  • County Tax: $103
  • County Tax Freq: Annually
  • Tax Amount: $1,272
  • Tax Year: 2024
  • Terms: Standard Sale

Disclosures and Reports

  • Ownership: Condominium
  • Condo: Yes

Listed and Sold by Monument Sotheby's International Realty, PAUL MALTAGHATI

Listing agent

— 20842 East Dr #524 —

  • PAUL MALTAGHATI

    Monument Sotheby's International Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 20842 East Dr #524

School District:Cape Henlopen School District
NameGradesDistance
Rehoboth Elementary School
500 Stockley Street, Rehoboth Beach, DE 19971
PK-60.5 mi
Mariner Middle School
16391 Harbeson Road, Milton, DE 19968
5-813 mi
Cape Henlopen High School
1250 Kings Highway, Lewes, DE 19958
8-125.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 20842 East Dr #524

Date
Details
Price
Change
Source
2/27/2025
Sold
$390,000
-4.88%
MLS
11/23/2024
Listed
$410,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Monument Sotheby's International Realty, PAUL MALTAGHATI

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20842 East Drive #524, Rehoboth Beach, DE 19971 (MLS# DESU2074788) is a Condo property that was sold at $390,000 on February 27, 2025. Want to learn more about 20842 East Drive #524? Do you have questions about finding other Condo real estate for sale in Rehoboth Beach? You can browse all Rehoboth Beach real estate or contact a Coldwell Banker agent to request more information.