The Bluewater - Build On-Your-Lot Plan · Millville, DE 19967

$335,200

3 bd · 2.5 ba · 1,767 sqft · SingleFamily · 164 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Appreciation +4.6/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

The Bluewater by Bay to Beach Builders blends relaxed coastal style with efficient living. With 1,767 heated sq. ft. , 3 bedrooms, and 2.5 bathrooms, it's ideal for families, retirees, or beach lovers seeking low-maintenance living with standout design. The front covered porch leads into a light-filled, open layout that feels both spacious and cozy. The great room and dining area feature soaring ceilings with an "open to above" design that adds drama and natural light. The adjacent kitchen offers ample counter space, pantry storage, and easy flow for everyday meals or entertaining. A powder room and laundry area are conveniently located nearby. The main-floor primary suite includes a walk-in closet and full bath, making single-level living possible. Upstairs, two secondary bedrooms, a full bath, and a central loft provide flexible space for guests, family, or a home office. The Bluewater's cottage-inspired exterior shines in coastal towns like Lewes, Ocean View, and Bethany Beach, fitting beautifully on infill lots or smaller community homesites. It works equally well as a vacation retreat or full-time residence on Delaware or Maryland's Eastern Shore. For infill projects, Bay to Beach Builders offers complete support-from knockdown to knockout-including zoning, demolition, and rebuilding. Designed for timeless appeal, energy efficiency, and a seamless indoor-outdoor lifestyle, the Bluewater delivers charm, comfort, and coastal elegance in one thoughtfully crafted plan.

Key facts

• Front covered porch
• Ample counter space
• Pantry storage

Tags

• FRONT COVERED PORCH
• LIGHT FILLED OPEN LAYOUT
• SOARING CEILINGS
• AMPLE COUNTER SPACE
• PANTRY STORAGE
• MAIN FLOOR PRIMARY SUITE

🏗️ New construction. The $335,200 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $560,031.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (26.1% below list).
• Recommended offer: $248k (26.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#49 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: amenities F, commute F, cost of living 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: Lord Baltimore Elementary School (math 51% / reading 67%, grade B-, #4 of 105 statewide, top 4%, 579 students, 0% FRL); Selbyville Middle School (math 20% / reading 49%, grade F, #12 of 36 statewide, top 34%, 719 students, 0% FRL); Indian River High School (math 32% / reading 52%, grade F, #10 of 40 statewide, top 26%, 1,088 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.
• Zoned-school proficiency averages 45% at this address vs 33% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Indian River School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 127 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $4k of loan paydown is wiped out by about $5k 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 164 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; 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 $247,852 (26.1% 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. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.44% ✗
• Cap rate: 2.20%
• Cash-on-cash: -14.63%
• DSCR: 0.35
• GRM: 18.8

CMA / ARV

• ARV (median comp): $560,031
• List price: $335,200
• Delta: -40.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32256 Old School Ln	0.18mi	3/2.0	1,700 (-4%)	2mo	$620,000	$365	82
32670 Cedar Dr	0.13mi	4/2.0 (+1)	1,700 (-4%)	1mo	$386,000	$227	80
18 Whites Creek Ln	0.28mi	4/2.5 (+1)	1,840 (+4%)	5mo	$594,000	$323	71
14 Woods Cir	0.44mi	3/2.0	1,716 (-3%)	6mo	$519,000	$302	67
38 Hudson Ave	0.36mi	3/2.0	1,632 (-8%)	2mo	$450,000	$276	67
223 Chad Pl	0.43mi	3/2.0	1,617 (-8%)	0mo	$580,000	$359	64
12 Windmill Ln	0.59mi	3/2.0	1,837 (+4%)	2mo	$399,900	$218	62
24 Assawoman Ave	0.64mi	3/2.0	1,779 (+1%)	8mo	$440,000	$247	61
6 Jordyn Ct	0.67mi	3/2.0	1,800 (+2%)	8mo	$576,000	$320	57
36728 Baltimore Ave	0.69mi	3/2.0	1,850 (+5%)	3mo	$385,000	$208	56
18 Hudson Ave	0.49mi	3/2.5	2,020 (+14%)	1mo	$549,900	$272	53
31434 Oak St	0.66mi	3/2.0	1,568 (-11%)	2mo	$330,000	$210	46

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

Projected returns pro-forma

-0.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: -0.04×
• Total profit: $-163,635
• Equity at exit: $139,216

10-year hold

• IRR: -18.4%
• Equity multiple: -0.62×
• Total profit: $-254,028
• Equity at exit: $149,649

Cash invested: $156,809 (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 19967

• Home prices YoY: -0.3%
• Active inventory: 127
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,479 medium
• Mortgage (P&I): −$2,937
• Tax est. 1.5%: −$700 /mo · $8,400/yr
• Insurance: −$233
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-1,968

Break-even live

Break-even rent $4,969

Max offer price $275,293

Occupancy floor —

Sensitivity live

Price	-10% $-1,581	-5% $-1,774	+0% $-1,968	+5% $-2,161	+10% $-2,355
Rent	-10% $-2,164	-5% $-2,066	+0% $-1,968	+5% $-1,870	+10% $-1,772
Rate	-1.0pp $-1,686	-0.5pp $-1,825	base $-1,968	+0.5pp $-2,113	+1.0pp $-2,261

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: $140,008
• Closing costs: $16,801
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Village Green Dr Ocean View, DE	3.0	2.5	2076	$2,445	$1.18	15d	3	0.79mi
30839 Cedar Neck Rd Ocean View, DE	4.0	2.0	2040	$2,950	$1.45	45d	1	1.16mi
37580 Mahogany St Ocean View, DE	4.0	3.5	1600	$2,300	$1.44	45d	1	1.18mi
33697 Ashland Dr Frankford, DE	3.0	2.0	1696	$2,200	$1.30	45d	1	1.50mi

Listing history 17 events

1. 2026-06-21
   days on market $335,200 Active 164 DOM
2. 2026-06-18
   days on market $335,200 Active 161 DOM
3. 2026-06-17
   days on market $335,200 Active 160 DOM
4. 2026-06-16
   days on market $335,200 Active 159 DOM
5. 2026-06-15
   days on market $335,200 Active 158 DOM
6. 2026-06-14
   days on market $335,200 Active 156 DOM
7. 2026-06-13
   days on market $335,200 Active 155 DOM
8. 2026-06-10
   days on market $335,200 Active 153 DOM
9. 2026-06-09
   days on market $335,200 Active 152 DOM
10. 2026-06-08
    days on market $335,200 Active 151 DOM
11. 2026-06-07
    days on market $335,200 Active 150 DOM
12. 2026-06-02
    days on market $335,200 Active 145 DOM
13. 2026-06-01
    days on market $335,200 Active 144 DOM
14. 2026-05-31
    days on market $335,200 Active 143 DOM
15. 2026-05-30
    days on market $335,200 Active 142 DOM
16. 2026-03-20
    price $335,200 1504-char remark

    Show marketing remark (1504 chars)

    The Bluewater by Bay to Beach Builders blends relaxed coastal style with efficient living. With 1,767 heated sq. ft. , 3 bedrooms, and 2.5 bathrooms, it's ideal for families, retirees, or beach lovers seeking low-maintenance living with standout design. The front covered porch leads into a light-filled, open layout that feels both spacious and cozy. The great room and dining area feature soaring ceilings with an "open to above" design that adds drama and natural light. The adjacent kitchen offers ample counter space, pantry storage, and easy flow for everyday meals or entertaining. A powder room and laundry area are conveniently located nearby. The main-floor primary suite includes a walk-in closet and full bath, making single-level living possible. Upstairs, two secondary bedrooms, a full bath, and a central loft provide flexible space for guests, family, or a home office. The Bluewater's cottage-inspired exterior shines in coastal towns like Lewes, Ocean View, and Bethany Beach, fitting beautifully on infill lots or smaller community homesites. It works equally well as a vacation retreat or full-time residence on Delaware or Maryland's Eastern Shore. For infill projects, Bay to Beach Builders offers complete support-from knockdown to knockout-including zoning, demolition, and rebuilding. Designed for timeless appeal, energy efficiency, and a seamless indoor-outdoor lifestyle, the Bluewater delivers charm, comfort, and coastal elegance in one thoughtfully crafted plan.

17. 2026-01-08
    listed $330,300 Active 1504-char remark

    Show marketing remark (1504 chars)

    The Bluewater by Bay to Beach Builders blends relaxed coastal style with efficient living. With 1,767 heated sq. ft. , 3 bedrooms, and 2.5 bathrooms, it's ideal for families, retirees, or beach lovers seeking low-maintenance living with standout design. The front covered porch leads into a light-filled, open layout that feels both spacious and cozy. The great room and dining area feature soaring ceilings with an "open to above" design that adds drama and natural light. The adjacent kitchen offers ample counter space, pantry storage, and easy flow for everyday meals or entertaining. A powder room and laundry area are conveniently located nearby. The main-floor primary suite includes a walk-in closet and full bath, making single-level living possible. Upstairs, two secondary bedrooms, a full bath, and a central loft provide flexible space for guests, family, or a home office. The Bluewater's cottage-inspired exterior shines in coastal towns like Lewes, Ocean View, and Bethany Beach, fitting beautifully on infill lots or smaller community homesites. It works equally well as a vacation retreat or full-time residence on Delaware or Maryland's Eastern Shore. For infill projects, Bay to Beach Builders offers complete support-from knockdown to knockout-including zoning, demolition, and rebuilding. Designed for timeless appeal, energy efficiency, and a seamless indoor-outdoor lifestyle, the Bluewater delivers charm, comfort, and coastal elegance in one thoughtfully crafted plan.

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 93% 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,742
• − Mortgage interest: −$31,370
• − Property taxes: −$8,400
• − Insurance: −$3,467
• − Repairs & maintenance: −$2,379
• − Management: −$2,379
• − Depreciation: −$16,292
• Taxable loss: −$34,546
• Est. tax savings @ 24.0%: +$8,291
• After-tax cash flow: $-15,322/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 — Millville

• Score: 64/100
• State rank: #49
• US rank: #13839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, DE
• City population: 2,093
• Population (ZIP): 2,093

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Lithuanian 5% Italian 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 1% Spanish 1% 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: ▼ -0.85%
• Current HPI: 263.8607
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1.5% since first listed

2 events — show timeline

• 2026-03-20 Price Changed $335,200 Zillow
• 2026-01-08 Listed $330,300 Zillow