37430 5th Street Rehoboth Beach , DE 19971

This waterfront lot is ready for your dream home! Situated on an oversized lot measuring 101' x 125', it features million-dollar unobstructed views overlooking Thompson Island all the way to Rehoboth Bay. Boating is easy from one of three private backyard docks with access to Dewey Beach, Rehoboth Bay and the Indian River inlet connecting to the Atlantic Ocean. The existing home is configured as a single story two-bedroom, one-bath bungalow with a one-bedroom and bath guest studio adjoined by a trellis. Many options exist for the next owner: Use the property as-is, build on top of existing structure and footings or build your waterfront dream home. The guest unit has earned up to $18K/summer in rental income alone. Live in one unit and rent the other, adjoin the two, rent both or rebuild. Don't delay: This property has an approved federal grant available through 10/2025 offering almost 200K to preserve the existing structure. Bay Vista is in Sussex County, DE, outside city limits, just over a mile from downtown Rehoboth and has no HOA or rental restrictions. Don't miss this once-in-a-lifetime opportunity for waterfront living close to town! This is one of the only waterfront lots with a usable residence available in close proximity to Rehoboth. The owner is a licensed Realtor.