1 Coventry Ln #42025, Lewes, DE 19958

Description

Sussex East/West is a leased-land, 55-plus* community (*up to 20% of owners may be younger than 55-years-old). Sussex East is located approximately 5.5 miles from the Lewes public beach, with the Cape Henlopen State Park beaches...and the famous Rehoboth Beach boardwalk...not much farther away. This community has a unique location with access to the State Park’s hiking/biking trail via the trail head on Minos Conaway Rd. There have been many updates and renovations to this home, the addition of the living room with vaulted ceiling, New kitchen with quartz counter tops, stainless appliances, new natural gas furnace, central Ac, tankless water heater, All new flooring, updated baths. plus much more. Two pets are allowed in Sussex East, and they have a fenced dog park near the community’s indoor salt-water pool. New pickle ball court, too. (Note: Family & friends may always visit, but rentals are NOT permitted in this community).
Leasehold Interest with Lot Rent of approx. $1057/month (Leases renew annually with any increase capped as per 25 Del. C. Ch. 70). The Community Owner requires an Application from the Buyer and all occupants 18-years-of-age or older, with acceptance in the community based on: 1)income verification, 2)Credit bureau score (including debt-to-income ratio), and 3)Clean criminal background check. Leased land properties do not meet the requirements for conventional 30-year mortgages, but financing may be available to qualified borrowers from a few Lenders that specialize in installment/chattel loans for manufactured homes on leased land. Buyer will have a real estate transfer tax (3.75% DMV Doc Fee) as part of their closing costs & a settlement agent fee.