Precious Bankole

505 Lakewood Drive

Milford, DE
$ 550,000 Beds 4 Baths 3 Sq 2,126 Virtual Tour
Monthly Estimate* How much can I afford?

Tucked away at the end of non-through street and surrounded by mature trees, this beautifully renovated 1950s brick home offers something increasingly rare, authentic character, timeless craftsmanship, and a setting filled with privacy and charm. Far from a cookie-cutter property, this sturdy brick residence was built to last and has been thoughtfully reimagined with a fresh contemporary farmhouse aesthetic while preserving its enduring appeal. A welcoming front porch leads to a stunning decorative wood entry door, setting the tone for the stylish interiors beyond. Inside, you'll find crisp white walls, elegant crown molding, farmhouse-inspired lighting, and a soothing neutral color palette that creates a warm and inviting atmosphere. Black fixtures and hardware throughout add a sophisticated modern contrast, while luxury vinyl plank flooring flows seamlessly through most of the main level. To the left of the foyer, the spacious primary suite serves as a private retreat, featuring crown molding, recessed lighting, and a sliding barn door leading to a beautifully appointed en suite bath. The bath includes dual vanities, a walk-in shower with a rain showerhead, and a private water closet. To the right, a generously sized family room welcomes gatherings with crown molding and recessed lighting, opening effortlessly into the heart of the home. The beautifully updated kitchen features quartz countertops, a breakfast-bar island, stainless steel appliances, and a convection self-cleaning oven. Just beyond, the formal living room offers a striking black-and-white painted brick wood-burning fireplace, creating the perfect focal point for cozy evenings and holiday celebrations. The formal dining room is equally inviting, highlighted by a dramatic black chandelier, crown molding, and chair rail detailing that add elegance and character to every gathering. Down the hallway, you'll find two comfortable guest bedrooms with plush carpeting, a full hall bath with a tub/shower combination, a linen closet, and a second primary suite. This additional suite features plush carpeting and a private en suite bath complete with a tiled shower, classic black fixtures, and a rain showerhead, making it ideal for guests or multi-generational living. The full unfinished basement provides exceptional storage and future possibilities. It houses the laundry area, an oversized water heater installed in 2022, Bilco doors, and walk-up access to the backyard. A Generac whole-house generator and water treatment systemoffers additional peace of mind year-round. Outside, the property continues to impress. The oversized backyard provides ample room for outdoor entertaining, gardening, or recreation and includes a paver patio, storage shed, and a dramatic black wrought-iron gate that creates a memorable entrance at the end of the long private driveway. An attached two-car garage with automatic openers offers convenient access from both the driveway and rear patio. Visit the quaint town of Milford a short distance away. With shops and eateries. And the Milford Riverwalk. And you are still less than an hour to the Delaware beaches! Rich in character, thoughtfully renovated, and nestled in a private wooded setting, this exceptional home combines the quality and craftsmanship of a bygone era with the style and conveniences today's buyers desire. Some exterior photos have been virtually enhanced for presentation purposes.

ACTIVE

  • Price
  • $ 550,000
  • City
  • Milford
  • Bedrooms
  • 4
  • Full Bathrooms
  • 3
  • County
  • SUSSEX
  • Half Bathrooms
  • 0
  • Area
  • Cedar Creek Hundred
  • Lot Size
  • 0.58 Acres
  • Zip
  • 19963
  • Sqr Footage
  • 2,126
  • Year Built
  • 1954
  • Taxes
  • $ 1198
  • Style
  • Ranch/Rambler
  • MLS#
  • DESU2095850
Listed By: Kevin J Hammersmith with Northrop Realty - 3029479100;
Data Source: Bright MLS

Features

General

Living Area 2126
Sewer Septic Exists
Heating Heat Pump(s),Forced Air
Cooling Central A/C,Heat Pump(s),Ceiling Fan(s)
Possession Settlement
Roof Architectural Shingle,Pitched
Appliances Built-In Microwave,Built-In Range,Dishwasher,Disposal,Dryer,Energy Efficient Appliances,Exhaust Fan,Freezer,Icemaker,Oven - Self Cleaning,Oven/Range - Electric,Refrigerator,Stainless Steel Appliances
Zoning MR
Garage Spaces 2.00
Patio/Porch Features Patio(s),Porch(es),Roof
Architectural Style Ranch/Rambler
Security Features Main Entrance Lock,Smoke Detector,Carbon Monoxide Detector(s)
Construction Materials Brick,Stick Built,Vinyl Siding
School District MILFORD
Year Built 1954
Electric 200+ Amp Service
View Garden/Lawn,Trees/Woods
Levels 1
Tax Year 2025
Ownership Fee Simple
Cool Fuel Electric
Building Name NONE AVAILABLE
Accessibility 2+ Access Exits
County SUSSEX
New Construction No
Property Type Residential
HOA No
Subdivision Name CHESTNUT KNOLL ACRES
Garage Y/N Yes
Water Access Y/N No
Other Structures Above Grade,Below Grade
Full Baths 3
Status ACTIVE
Directions Route 113 to Old Shawnee Rd,turn onto Evergreen to right on Wisseman,right on Roosevelt and a left onto Lakewood,follow to the end.
City MILFORD
Disclosures Prop Disclosure
Senior Community Y/N No
MLS Area Cedar Creek Hundred (31004)
Lot Size Units Square Feet
Lot Size Square Feet 25265.00
Tax Annual Amount 1198.0
Structure Type Detached
Condo/Coop Association fee Y/N No
Bathrooms Full Main Level 3
Bathrooms Count Main Level 3.00
Price Per Sq Ft Total AG 258.7
Vacation Rental Y/N No
Virtual Tour https://media.homesight2020.com/505-Lakewood-Drive/idx
Total SQFT 2126
Location Type Corner Lot/Unit
Sussex DE Quadrants Between Rt 113 & 13
Standard Status Active
Year Built Source Assessor
Legal Subdivision CHESTNUT KNOLL ACRES
Tax Lot 42

Interior Features

Interior Amenities Breakfast Area,Carpet,Ceiling Fan(s),Chair Railings,Combination Kitchen/Living,Crown Moldings,Dining Area,Entry Level Bedroom,Floor Plan - Open,Formal/Separate Dining Room,Kitchen - Eat-In,Kitchen -
Heating Fuel Electric
Basement Rear Entrance,Unfinished,Connecting Stairway,Daylight,Full,Interior Access,Sump Pump,Walkout Stairs,Windows,Outside Entrance
Flooring Luxury Vinyl Plank,Partially Carpeted
Total Fireplaces 1
Fireplace Features Wood,Brick,Fireplace - Glass Doors,Mantel(s)
Hot Water Electric
Basement (Y/N) Yes
Heating Y/N Yes
Window Features Double Pane,Double Hung,Screens,Vinyl Clad
Fireplace Y/N Yes
Above Grade Finished Area 2126
Central Air Y/N Yes
Total Bedrooms 4
Room Type Living Room,Dining Room,Primary Bedroom,Bedroom 2,Bedroom 3,Bedroom 4,Kitchen,Family Room,Basement,Foyer
Main Level Bedrooms 4
Below Grade Finished Area Unit Type Square Feet
LivingAreaSource Estimated
Laundry Type Has Laundry,Lower Floor
Below Grade Unfin Area Units Square Feet
Below Grade Unfin SQFT Source Assessor
Below Grade Finished Area Source Assessor
Above Grade Finished Area Source Estimated
Above Grade Finished Area Unit Type Square Feet
Total Baths 3

Exterior Features

Exterior Amenities Exterior Lighting,Extensive Hardscape
Pool No Pool
Fencing Decorative,Fully,Rear,Privacy
Parking Features Asphalt Driveway
Lot Features Backs to Trees,Corner,Front Yard,Landscaping,Level,No Thru Street,SideYard(s),Rear Yard,Trees/Wooded
Water Source Well
Total Parking Spaces 2
Garage Features Garage - Side Entry,Garage Door Opener,Additional Storage Area
Type of Parking Attached Garage
Land Use Code 1 1
Foundation Details Concrete Perimeter
Water View Y/N No
Lot Dimensions 134.00 x 156.00
Lot Size Acres 0.58
Lot Size Source Assessor
Waterfront Y/N No
Door Features Storm
Navigable Water Y/N No
Water Oriented Y/N No
# of Attached Garage Spaces 2
LotDimensionsSource Assessor

Room Details

Basement Lower 1 Basement - Unfinished
Bedroom 2 Main Flooring - Carpet,Attached Bathroom,Ceiling Fan(s),Crown Molding,Window Treatments,Lighting - Recessed
Bedroom 3 Main Flooring - Carpet,Ceiling Fan(s),Crown Molding,Window Treatments,Lighting - Recessed
Bedroom 4 Main Flooring - Carpet,Ceiling Fan(s),Crown Molding,Window Treatments,Lighting - Recessed
Dining Room Main
Family Room Main Flooring - Luxury Vinyl Plank,Ceiling Fan(s),Lighting - Recessed
Foyer Main Flooring - Luxury Vinyl Plank
Kitchen Main Breakfast Bar,Countertop(s) - Quartz,Flooring - Luxury Vinyl Plank,Island,Kitchen - Eat-in,Kitchen - Electric Cooking,Lighting - Recessed,Pantry
Living Room Main Flooring - Luxury Vinyl Plank,Fireplace - Wood Burning,Ceiling Fan(s),Crown Molding
Primary Bedroom Main Attached Bathroom,Ceiling Fan(s),Crown Molding,Window Treatments,Flooring - Luxury Vinyl Plank,Lighting - Recessed

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Martinsburg, WV office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Ross Elementary School
Middle School Milford Central Academy Middle School
High School Milford High School

Price History

6/5/2026 Listed $629,900
7/14/2026 2% - $619,900
8/6/2026 4% - $600,000
9/18/2026 9% - $550,000

Property vs Zip Code Average in 19963

Price
AVG $550K
$550K
Taxes
AVG $1,354
$1,198
Year Built
AVG 1987
1954
Visits
AVG 346
15
Data Provided by Inside Real Estate®

Areas That We Cover

505 Lakewood Drive Milford, DE is a Single Family Home for sale at $550000 with 2126 sqft and a lot size of 0.58 Acres Acre(s). 505 Lakewood Drive Milford has 4 bedrooms, 3 baths and was built in 1954. The property's zip code is 19963 which is in Milford, DE

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Precious Bankole

Precious Bankole

240-351-5185

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