26612 Briarstone Pl Unit B44 · Long Neck, DE 19966

$279,900

3 bd · 2.5 ba · 1,788 sqft · Condo · 27 Days on market

Built 2004 Good condition Garage $157/sqft · 13% below area Est $320k · 13% under $385/mo HOA · 16% of rent ↓ 6% since listing

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +13.2/15.0
• Cash flow +7.1/30.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

MOVE-IN READY & PACKED WITH PREMIUM UPGRADES - this beautifully maintained 3-bedroom, 2.5-bath home offers 1,788 square feet of thoughtfully designed living space in the desirable Fairfield at Long Neck community. Featuring an open-concept floor plan, smart home technology, and high-end finishes, this home is ideal for full-time living, a vacation retreat, or an investment opportunity near Delaware's beaches. The bright main living area is filled with natural light and flows seamlessly into the upgraded kitchen, complete with a large center island, breakfast area, abundant cabinetry, premium Samsung Black Stainless Steel appliances, and a newly installed range hood.

Key facts

• Premium upgrades
• High end finishes
• Move in ready

Tags

• MOVE IN READY
• PREMIUM UPGRADES
• OPEN CONCEPT FLOOR PLAN
• SMART HOME TECHNOLOGY
• HIGH END FINISHES
• INTEGRATED SMART HOME SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-403 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (13.3% below list).
• Recommended offer: $222k (20.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#30 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Long Neck Elementary School (math 22% / reading 35%, grade F, #57 of 105 statewide, top 55%, 693 students, 0% FRL); Millsboro Middle School (math 24% / reading 42%, grade F, #14 of 36 statewide, top 37%, 771 students, 0% FRL); Sussex Central High School (math 23% / reading 42%, grade F, #24 of 40 statewide, top 59%, 2,039 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 999 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 37% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,652 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.16%
• DSCR: 0.73
• GRM: 9.6

CMA / ARV

• ARV (median comp): $320,388
• List price: $279,900
• Delta: -9.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26605 Briarstone Pl	0.02mi	3/2.5	1,524 (-15%)	0mo	$279,900	$184	74
26367 West Pintail Rd #81	1.09mi	3/2.0	1,768 (-1%)	0mo	$229,000	$130	61
34644 W Harbor Dr #45061	1.25mi	3/2.5	1,716 (-4%)	0mo	$180,000	$105	58
25858 N Cherry St #49858	0.66mi	3/2.0	1,904 (+6%)	1mo	$125,000	$66	55
34481 Broadwater Rd #643	1.20mi	3/1.5	1,925 (+8%)	0mo	$35,000	$18	48
9 Burrwood Ct	0.92mi	3/2.5	1,959 (+10%)	1mo	$465,000	$237	48
34648 West Hbr	1.24mi	4/2.5 (+1)	1,643 (-8%)	0mo	$250,000	$152	46
25962 Bald Cypress St	0.66mi	3/2.0	1,490 (-17%)	1mo	$125,000	$84	42
34855 Halyard St Unit E-440	0.67mi	3/2.0	1,366 (-24%)	0mo	$280,633	$205	41
34104 Meadow Ln	1.45mi	3/2.0	1,456 (-19%)	0mo	$126,000	$87	38
34063 Village Way Unit E-995	1.49mi	3/2.0	1,400 (-22%)	0mo	$119,000	$85	38
34695 Deck St Unit E-160	0.88mi	2/2.0 (-1)	1,442 (-19%)	0mo	$110,000	$76	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.10×
• Total profit: $-70,721
• Equity at exit: $41,734

10-year hold

• IRR: -23.8%
• Equity multiple: -0.19×
• Total profit: $-93,485
• Equity at exit: $24,201

Cash invested: $78,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 70 Landlord-Friendly
• State Delaware: 70 Landlord-Friendly · D+7
• County: — inherits STATE
• City: — inherits STATE

Court of Common Pleas hears L&T; moderate-paced. No state rent control.

Methodology + full state rankings →

ZIP-level market 19966

• Home prices YoY: -6.4%
• Active inventory: 999
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,426 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$385
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $-403

Break-even live

Break-even rent $2,936

Max offer price $221,652

Occupancy floor —

Sensitivity live

Price	-10% $-209	-5% $-306	+0% $-403	+5% $-499	+10% $-596
Rent	-10% $-594	-5% $-498	+0% $-403	+5% $-307	+10% $-211
Rate	-1.0pp $-262	-0.5pp $-331	base $-403	+0.5pp $-475	+1.0pp $-549

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $69,975
• Closing costs: $8,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35805 S Gloucester Cir Millsboro, DE	3.0	2.5	2100	$2,300	$1.10	93d	1	0.06mi
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	62d	1	0.07mi

Property features AI

Finance

• HOA & community: Monthly association fee of $365HOA covers common area maintenance, exterior building maintenance, insurance, management, pool(s), road maintenance, trash, and lawn maintenanceCommunity pool/outdoor pool

Exterior

• Parking: Attached garage with 2 spacesGarage door openerInside access to garageDriveway
• Security: Sprinkler system
• Utilities: Public waterPublic sewerElectric availablePropane availableCable TV availablePhone availableElectric hot water
• Home design: Interior townhouse/rowhouseFee simple ownershipProperty manager presentLocated outside city limitsFederal flood zone AE
• Construction: Vinyl sidingArchitectural shingle roofSlab foundationBuilt year estimated
• Exterior features: Lawn sprinklerSidewalksDeck(s)Screened outdoor living areaCommunity pool

Interior

• Kitchen: CooktopDishwasherDisposalRefrigeratorKitchen island
• Bedrooms: Three bedrooms on the upper level
• Flooring: CarpetCeramic tile
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Forced air heating (electric)Central air conditioning (electric)
• Interior features: Breakfast areaCombination kitchen/diningDining areaFamily room off kitchenSoaking tubStall showerTub/showerRecessed lightingKitchen islandMaster bath(s)Dry wall walls and ceilingsSprinkler system
• Laundry & utility: Washer in unitDryer in unitElectric water heater

HOA detail $385/mo · $4,620/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $279,900 Active 27 DOM
2. 2026-08-07
   days on market $279,900 Active 26 DOM
3. 2026-08-06
   days on market $279,900 Active 25 DOM
4. 2026-08-05
   days on market $279,900 Active 24 DOM
5. 2026-08-04
   days on market $279,900 Active 23 DOM
6. 2026-08-03
   days on market $279,900 Active 22 DOM
7. 2026-07-31
   days on market $279,900 Active 19 DOM
8. 2026-07-29
   days on market $279,900 Active 17 DOM
9. 2026-07-27
   days on market $279,900 Active 15 DOM
10. 2026-07-25
    pricedays on market $279,900 Active 13 DOM
11. 2026-07-24
    days on market $289,000 Active 12 DOM
12. 2026-07-23
    days on market $289,000 Active 11 DOM
13. 2026-07-22
    days on market $289,000 Active 10 DOM
14. 2026-07-21
    days on market $289,000 Active 9 DOM
15. 2026-07-18
    days on market $289,000 Active 6 DOM
16. 2026-07-16
    days on market $289,000 Active 4 DOM
17. 2026-07-16
    days on market $289,000 Active 3 DOM
18. 2026-07-13
    statusdays on market $289,000 Active 1 DOM
19. 2026-07-12
    days on market $289,000 Coming Soon 2 DOM
20. 2026-07-11
    remarks 695-char remark
21. 2026-07-11
    pricestatusdays on marketlisting id $289,000 Coming Soon 1 DOM
22. 2026-07-06
    days on market $289,900 Active 83 DOM
23. 2026-07-05
    days on market $289,900 Active 82 DOM
24. 2026-07-04
    days on market $289,900 Active 81 DOM
25. 2026-07-03
    days on market $289,900 Active 80 DOM
26. 2026-07-02
    days on market $289,900 Active 79 DOM
27. 2026-07-01
    days on market $289,900 Active 78 DOM
28. 2026-06-30
    days on market $289,900 Active 77 DOM
29. 2026-06-29
    days on market $289,900 Active 76 DOM
30. 2026-06-28
    days on market $289,900 Active 75 DOM
31. 2026-06-28
    days on market $289,900 Active 74 DOM
32. 2026-06-27
    days on market $289,900 Active 73 DOM
33. 2026-06-25
    days on market $289,900 Active 71 DOM
34. 2026-06-23
    days on market $289,900 Active 69 DOM
35. 2026-06-21
    pricedays on market $289,900 Active 68 DOM
36. 2026-06-18
    days on market $299,990 Active 65 DOM
37. 2026-06-17
    days on market $299,990 Active 64 DOM
38. 2026-06-16
    days on market $299,990 Active 63 DOM
39. 2026-06-15
    days on market $299,990 Active 62 DOM
40. 2026-06-14
    days on market $299,990 Active 60 DOM
41. 2026-06-13
    days on market $299,990 Active 59 DOM
42. 2026-06-10
    days on market $299,990 Active 57 DOM
43. 2026-06-09
    days on market $299,990 Active 56 DOM
44. 2026-06-08
    days on market $299,990 Active 55 DOM
45. 2026-06-07
    days on market $299,990 Active 54 DOM
46. 2026-06-02
    days on market $299,990 Active 49 DOM
47. 2026-06-01
    days on market $299,990 Active 48 DOM
48. 2026-05-31
    days on market $299,990 Active 47 DOM
49. 2026-05-30
    days on market $299,990 Active 46 DOM
50. 2026-05-04
    price $299,990 2360-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 16% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,116
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − HOA: −$4,620
• − Depreciation: −$8,143
• Taxable loss: −$9,582
• Est. tax savings @ 24.0%: +$2,300
• After-tax cash flow: $-2,531/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $8,940–$26,820 screening

This well-maintained, spacious 1,788 sq. ft. condo is ready for a fresh coat of paint and some minor updates to the kitchen and living areas to maximize its resale and rental value.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Replace the sink faucet — A new faucet can improve functionality and aesthetics. ↑
• Both Install new carpet in living areas — New carpet can improve comfort and add value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Long Neck Elementary School F DE #57/105 Nat'l #28,012/41,679 Middle Millsboro Middle School F DE #14/36 Nat'l #8,059/14,009 High Sussex Central High School F DE #24/40 Nat'l #10,333/17,239

Schools (NCES district)

• District: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

C Composite livability gradescore 69/100

Livability — Long Neck

• Score: 69/100
• State rank: #30
• US rank: #8720

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment D+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Neck, DE
• County: Sussex County · 248,853 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 5% of renters

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Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 8% Two or more races 7% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1%

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Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.26%
• Current HPI: 268.5609
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Property features AI

Finance

• HOA & community: Monthly association fee of $365HOA covers common area maintenance, exterior building maintenance, insurance, management, pool(s), road maintenance, trash, and lawn maintenanceCommunity pool/outdoor pool

Exterior

• Parking: Attached garage with 2 spacesGarage door openerInside access to garageDriveway
• Security: Sprinkler system
• Utilities: Public waterPublic sewerElectric availablePropane availableCable TV availablePhone availableElectric hot water
• Home design: Interior townhouse/rowhouseFee simple ownershipProperty manager presentLocated outside city limitsFederal flood zone AE
• Construction: Vinyl sidingArchitectural shingle roofSlab foundationBuilt year estimated
• Exterior features: Lawn sprinklerSidewalksDeck(s)Screened outdoor living areaCommunity pool

Interior

• Kitchen: CooktopDishwasherDisposalRefrigeratorKitchen island
• Bedrooms: Three bedrooms on the upper level
• Flooring: CarpetCeramic tile
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Forced air heating (electric)Central air conditioning (electric)
• Interior features: Breakfast areaCombination kitchen/diningDining areaFamily room off kitchenSoaking tubStall showerTub/showerRecessed lightingKitchen islandMaster bath(s)Dry wall walls and ceilingsSprinkler system
• Laundry & utility: Washer in unitDryer in unitElectric water heater

Price history

-6.5% since first listed

3 events — show timeline

• 2026-06-19 Price Changed $289,900 BRIGHT MLS
• 2026-05-04 Price Changed $299,990 BRIGHT MLS
• 2026-04-14 Listed $309,990 BRIGHT MLS