26187 Skip Jack Ln · Long Neck, DE 19966

$129,900

3 bd · 2.0 ba · 1,272 sqft · Manufactured public records · 28 Days on market

Built 2006 1,307 sqft lot Est $132k · at est.

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.3/15.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Imagine spending your summers just minutes from the Delaware beaches, boating on Rehoboth Bay, relaxing by the community pool, and enjoying everything coastal living has to offer. Completely renovated and move-in ready, this stunning 3-bedroom, 2-bath home delivers the ideal blend of modern comfort and beach-town charm. Step inside to discover a bright, open-concept floor plan designed for easy living and effortless entertaining. The beautifully updated kitchen features stainless steel appliances, a gas range, built-in microwave, dishwasher, and abundant cabinet space, all flowing seamlessly into the dining and living areas. A spacious family room just off the kitchen provides the perfect s

Key facts

• Open floor plan
• Family room
• Major renovations

Tags

• REHOBOTH SHORES COMMUNITY
• MAJOR RENOVATIONS
• OPEN FLOOR PLAN
• FAMILY ROOM
• STAINLESS STEEL APPLIANCES
• BUILT-IN MICROWAVE

Property features AI

Finance

• Other: Located outside city limits; east of Route 1; Bus stop less than 1 mile away; Directions available for neighborhood access (dead-end street location)
• Financial info: Land lease of $455 per month (99 years remaining); Ground rent paid annually (99 years remaining)
• HOA & community: Community pool; Rehoboth Shores community

Exterior

• Parking: Asphalt driveway; Off-street parking for 2 vehicles (2 total off-street spaces)
• Utilities: Public sewer; Community water; Electric service with circuit breakers
• Home design: Manufactured home; Festival 3562F model by Fleetwood; Estimated effective year 2026 (major remodel/renovation); Building not winterized
• Construction: Vinyl siding; Architectural shingle roof; Pillar/post/pier foundation
• Exterior features: Porch(es); Roof over porch; Backs to trees; Fishing available; Located on a rented lot; Ground rent exists (annual payment)

Interior

• Kitchen: Built-in microwave; Dishwasher; Gas range/oven; Stainless steel appliances
• Bedrooms: 3 bedrooms on the main level; Entry-level bedroom
• Flooring: Luxury vinyl plank; Vinyl; Carpet
• Bathrooms: 2 full bathrooms (including main level full baths)
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning (electric)
• Interior features: Open floor plan; Family room off the kitchen; Combination kitchen and dining area; Pantry; Soaking tub; Walk-in shower; Tub/shower; Master bath; Walk-in closet(s); Cathedral ceilings; Storm door(s); Carpet
• Laundry & utility: Main floor laundry (has laundry); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 3.2% in Long Neck — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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+, schools F, amenities 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.
• Market conditions: 865 active listings in the ZIP; 1 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 34% 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 $898 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $127,951 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.73% ✓
• Cap rate: 14.41%
• Cash-on-cash: 29.00%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $132,288
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35468 Joann Dr #11511	0.54mi	3/1.0	1,260 (-1%)	11mo	$52,000	$41	60
35476 Bayview Ln #4147	0.54mi	3/2.0	1,400 (+10%)	17mo	$146,000	$104	44

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $5,935
• Equity at exit: $19,369

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $40,795
• Equity at exit: $11,231

Cash invested: $36,372 (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: 865
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,249 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $419

Break-even live

Break-even rent $1,719

Max offer price $129,900

Occupancy floor 76%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	0.71mi

Listing history 17 events

1. 2026-06-18
   days on market $129,900 Active 28 DOM
2. 2026-06-17
   days on market $129,900 Active 27 DOM
3. 2026-06-16
   days on market $129,900 Active 26 DOM
4. 2026-06-15
   days on market $129,900 Active 25 DOM
5. 2026-06-14
   days on market $129,900 Active 23 DOM
6. 2026-06-13
   pricedays on market $129,900 Active 22 DOM
7. 2026-06-10
   days on market $133,900 Active 20 DOM
8. 2026-06-09
   days on market $133,900 Active 19 DOM
9. 2026-06-08
   days on market $133,900 Active 18 DOM
10. 2026-06-07
    days on market $133,900 Active 17 DOM
11. 2026-06-02
    days on market $133,900 Active 12 DOM
12. 2026-06-01
    days on market $133,900 Active 11 DOM
13. 2026-05-31
    days on market $133,900 Active 10 DOM
14. 2026-05-30
    days on market $133,900 Active 9 DOM
15. 2026-05-21
    listed $134,900 Active
16. 2025-12-31
    historical
17. 2025-08-04
    listed $80,000 Active

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $26,990
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$6,175
• − Repairs & maintenance: −$2,159
• − Management: −$2,159
• − Depreciation: −$3,779
• Taxable income: $3,493
• Est. tax owed @ 24.0%: −$838
• After-tax cash flow: $4,186/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.

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

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

• County: Sussex County · 82,708 people
• City population: 35,884
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 464.0

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%

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%

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

Price history

+68.6% since first listed

3 events — show timeline

• 2026-05-21 Listed $134,900 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-08-04 Listed $80,000 BRIGHT MLS

Property tax history

-2.7%/yr

Latest (2025): $251 · -25.9% YoY. Source: county tax records.