26539 Cattail Ln · Long Neck, DE 19966

$140,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 79 Days on market

Built 2003 Good condition $122/sqft · 5% below area Est $147k · 5% under $2/mo HOA ↓ 3% since listing

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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 +9.8/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home comes with a one year home warranty! Come home to relaxation and entertainment in Pot-Nets Bayside, the original Pot-Nets community and the largest of six water-oriented neighborhoods spanning nearly five miles of waterfront. Residents enjoy an array of amenities including private beaches, crabbing and fishing piers, over 1,200 boat slips, swimming pools, tennis courts, parks, and playgrounds—all connected by a network of golf cart trails. Spend your days at Paradise Grill, offering waterfront dining, drinks, happy hours, and live entertainment in a true island-style atmosphere. Boaters will appreciate Bayside’s nearly 800 boat slips, two boat ramps, fuel docks, and on-site bait and tackle shop. With two community pools and a private bayside beach, you can enjoy coastal living without ever leaving the neighborhood. Welcome to 26539 Cattail Lane in Pot-Nets Bayside. Outside, a spacious deck and adjoining patio provide the perfect setting for grilling and entertaining, while the fenced front yard adds privacy. A large rear shed offers ample storage, including space for a golf cart. Step inside to a screened porch spanning the width of the home, complete with tinted windows to reduce afternoon sun—an ideal spot for morning coffee or evening relaxation. Inside, the open-concept layout features a bright and inviting great room flowing seamlessly into the dining area, all designed with a relaxed coastal feel. The kitchen is crisp, clean, and conveniently positioned for everyday living and entertaining. Down the hall, you’ll find a utility room with washer, dryer, and rear access, along with two well-sized guest bedrooms and a beautifully maintained hall bath. The primary suite offers a private en suite bath with tub/shower combination. This well-maintained home is move-in ready and perfectly suited for enjoying all that coastal living has to offer. Don’t miss this opportunity!

Key facts

• Boat slips
• Swimming pools
• Tennis courts

Tags

• PRIVATE BEACHES
• CRABBING AND FISHING PIERS
• BOAT SLIPS
• SWIMMING POOLS
• TENNIS COURTS
• GOLF CART TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 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 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 $968 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.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.59% ✓
• Cap rate: 13.08%
• Cash-on-cash: 24.24%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (median comp): $147,465
• List price: $140,000
• Delta: -5.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34192 Sassafras Rd #5011	0.59mi	3/2.0	1,140 (-1%)	17mo	$60,000	$53	56

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,261
• Equity at exit: $20,874

10-year hold

• IRR: 9.0%
• Equity multiple: 1.70×
• Total profit: $27,371
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,230 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$2
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $331

Break-even live

Break-even rent $1,810

Max offer price $140,000

Occupancy floor 80%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	14d	1	1.22mi
22392 Circle Rd , DE	2.0	1.0	1000	$1,523	$1.52	14d	1	1.33mi

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: waterlandscapingpool

Listing history 16 events

1. 2026-06-18
   days on market $140,000 Active 79 DOM
2. 2026-06-17
   days on market $140,000 Active 78 DOM
3. 2026-06-16
   days on market $140,000 Active 77 DOM
4. 2026-06-15
   days on market $140,000 Active 76 DOM
5. 2026-06-14
   days on market $140,000 Active 74 DOM
6. 2026-06-13
   pricedays on market $140,000 Active 73 DOM
7. 2026-06-10
   days on market $150,000 Active 71 DOM
8. 2026-06-09
   days on market $150,000 Active 70 DOM
9. 2026-06-08
   days on market $150,000 Active 69 DOM
10. 2026-06-07
    days on market $150,000 Active 68 DOM
11. 2026-06-02
    days on market $150,000 Active 63 DOM
12. 2026-06-01
    days on market $150,000 Active 62 DOM
13. 2026-05-31
    days on market $150,000 Active 61 DOM
14. 2026-05-30
    days on market $150,000 Active 60 DOM
15. 2026-05-05
    price $150,000 1939-char remark

    Show marketing remark (1939 chars)

    Home comes with a one year home warranty! Come home to relaxation and entertainment in Pot-Nets Bayside, the original Pot-Nets community and the largest of six water-oriented neighborhoods spanning nearly five miles of waterfront. Residents enjoy an array of amenities including private beaches, crabbing and fishing piers, over 1,200 boat slips, swimming pools, tennis courts, parks, and playgrounds—all connected by a network of golf cart trails. Spend your days at Paradise Grill, offering waterfront dining, drinks, happy hours, and live entertainment in a true island-style atmosphere. Boaters will appreciate Bayside’s nearly 800 boat slips, two boat ramps, fuel docks, and on-site bait and tackle shop. With two community pools and a private bayside beach, you can enjoy coastal living without ever leaving the neighborhood. Welcome to 26539 Cattail Lane in Pot-Nets Bayside. Outside, a spacious deck and adjoining patio provide the perfect setting for grilling and entertaining, while the fenced front yard adds privacy. A large rear shed offers ample storage, including space for a golf cart. Step inside to a screened porch spanning the width of the home, complete with tinted windows to reduce afternoon sun—an ideal spot for morning coffee or evening relaxation. Inside, the open-concept layout features a bright and inviting great room flowing seamlessly into the dining area, all designed with a relaxed coastal feel. The kitchen is crisp, clean, and conveniently positioned for everyday living and entertaining. Down the hall, you’ll find a utility room with washer, dryer, and rear access, along with two well-sized guest bedrooms and a beautifully maintained hall bath. The primary suite offers a private en suite bath with tub/shower combination. This well-maintained home is move-in ready and perfectly suited for enjoying all that coastal living has to offer. Don’t miss this opportunity!

16. 2026-03-31
    listed $155,000 Active 1939-char remark

    Show marketing remark (1939 chars)

    Home comes with a one year home warranty! Come home to relaxation and entertainment in Pot-Nets Bayside, the original Pot-Nets community and the largest of six water-oriented neighborhoods spanning nearly five miles of waterfront. Residents enjoy an array of amenities including private beaches, crabbing and fishing piers, over 1,200 boat slips, swimming pools, tennis courts, parks, and playgrounds—all connected by a network of golf cart trails. Spend your days at Paradise Grill, offering waterfront dining, drinks, happy hours, and live entertainment in a true island-style atmosphere. Boaters will appreciate Bayside’s nearly 800 boat slips, two boat ramps, fuel docks, and on-site bait and tackle shop. With two community pools and a private bayside beach, you can enjoy coastal living without ever leaving the neighborhood. Welcome to 26539 Cattail Lane in Pot-Nets Bayside. Outside, a spacious deck and adjoining patio provide the perfect setting for grilling and entertaining, while the fenced front yard adds privacy. A large rear shed offers ample storage, including space for a golf cart. Step inside to a screened porch spanning the width of the home, complete with tinted windows to reduce afternoon sun—an ideal spot for morning coffee or evening relaxation. Inside, the open-concept layout features a bright and inviting great room flowing seamlessly into the dining area, all designed with a relaxed coastal feel. The kitchen is crisp, clean, and conveniently positioned for everyday living and entertaining. Down the hall, you’ll find a utility room with washer, dryer, and rear access, along with two well-sized guest bedrooms and a beautifully maintained hall bath. The primary suite offers a private en suite bath with tub/shower combination. This well-maintained home is move-in ready and perfectly suited for enjoying all that coastal living has to offer. Don’t miss this opportunity!

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°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: $26,754
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$6,225
• − Repairs & maintenance: −$2,140
• − Management: −$2,140
• − HOA: −$24
• − Depreciation: −$4,073
• Taxable income: $2,210
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $3,446/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

This manufactured home is in good condition with minimal repairs needed. A fresh coat of paint and some landscaping improvements would significantly enhance its curb appeal and value.

Value-add opportunities

• Both paint the exterior — enhances curb appeal and resale value
• Both prune overgrown bushes — improves curb appeal and makes the property more attractive

Renovation cost estimate screening

Value-add ROI direction

• Both paint the exterior — enhances curb appeal and resale value ↑
• Both prune overgrown bushes — improves curb appeal and makes the property more attractive ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Long Neck, DE
• County: Sussex County · 82,708 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: 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

-3.2% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $150,000 BRIGHT MLS
• 2026-03-31 Listed $155,000 BRIGHT MLS

Property tax history

-33.4%/yr

Latest (2025): $224 · -33.4% YoY. Source: county tax records.