6 Beds
2 Baths
1,675 SqFt
6 Beds
2 Baths
1,675 SqFt
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,675 sqft
Price per Sqft $112
Subdivision Middletown
MLS Listing ID DENC2112358
Style Colonial
Bedrooms 6
Full Baths 2
HOA Y/N N
Abv Grd Liv Area 1,675
Year Built 1910
Annual Tax Amount $2,316
Tax Year 2025
Lot Size 4,792 Sqft
Acres 0.11
Lot Dimensions 40.00 x 116.00
Property Sub-Type Detached
Source BRIGHT
Property Description
Even more compelling is the property's 23R-2 zoning. Middletown's R-2 district allows one- and two-family residential uses, and the Town provides a Conditional Use process for conversion of an existing one-family dwelling into multiple dwelling units, subject to Town approval and all applicable lot area, floor area, parking, property condition, permitting, registration, and inspection requirements. Subject to approval, the existing layout presents the potential to create two separate 3-bedroom, 1-bath units.
For an owner-occupant, this creates an appealing potential “house hack” opportunity: live in one 3-bedroom unit while renting the second and use the rental income to help offset a portion, or potentially a substantial portion, of the monthly mortgage and ownership expenses. Investors may instead explore operating both units as long-term rentals following all required approvals.
Location adds another layer of value. Downtown Middletown and Main Street are just blocks away, placing shopping, dining, entertainment, services, schools, and everyday conveniences close to home. The downtown business district includes dozens of shops and service businesses, along with restaurants, pubs, breweries, and entertainment venues generally within about one mile. Within approximately five miles, the greater Middletown trade area offers hundreds of businesses and dozens of restaurants, bars, breweries, shops, grocery stores, services, and national retailers.
The investment story is strengthened by Middletown's continued residential and commercial growth. U.S. Census estimates place the town's 2025 population at approximately 25,800, up about 11.2% since 2020. New retail, office, residential, and mixed-use development continues throughout the area, including major projects such as Bayberry Town Center, adding shopping, dining, services, office space, housing, and employment opportunities.
Commuters also benefit from easy access to DE-299, US-301, DE-1, US-13, and connections to I-95, providing convenient regional travel throughout Delaware and the Mid-Atlantic. DE-1 offers access north toward Christiana, Newark, Wilmington, and the I-95 corridor and south toward Dover, while US-301 provides connections toward Maryland, Baltimore, and the greater Washington metropolitan region. Philadelphia and surrounding employment centers are also accessible through the I-95 corridor. Middletown's location between northern and central Delaware gives residents access to multiple employment markets and major commercial centers.
Whether envisioned as a spacious six-bedroom single-family residence, owner-occupied house hack, potential two-unit rental property, or value-add investment, 125 E Lake Street offers a compelling combination of space, location, zoning flexibility, highway access, nearby amenities, and future income potential.
Two-unit conversion and all proposed uses are subject to Town of Middletown approval, permits, parking requirements, inspections, registration, and buyer verification.
Location
State DE
County New Castle
Area South Of The Canal (30907)
Zoning 23R-2
Rooms
Main Level Bedrooms 3
Interior
Hot Water 60+ Gallon Tank
Heating Baseboard - Electric
Cooling None
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Private Pool No
Building
Story 2
Foundation Other
Above Ground Finished SqFt 1675
Sewer No Septic System
Water Public
Architectural Style Colonial
Level or Stories 2
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Appoquinimink
Others
Senior Community No
Tax ID 23-006.00-050
Ownership Fee Simple
SqFt Source 1675
Acceptable Financing Cash, Bank Portfolio, FHA 203(b), Other
Listing Terms Cash, Bank Portfolio, FHA 203(b), Other
Financing Cash,Bank Portfolio,FHA 203(b),Other
Special Listing Condition Standard
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