34909 Oak Dr #10660 · Long Neck, DE 19958

$110,000

3 bd · 1.5 ba · 980 sqft · SingleFamily · 87 Days on market

Built 1978 Good condition $112/sqft · at area comps Est $106k · at est. ↓ 27% 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 +5.9/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on Lot H-091 is a beautiful, 1978, 3 bedroom 1 and a half bath newly remodeled home with Brand New Roof with Lifetime Warranty and New Electrical Panel for sale listed at $125,000. The 2 smaller bedrooms have a jack-and-jill bathroom, which great for kids or guests. Perfect for a beach/vacation home on the beautiful Rehoboth Bay! This home will include the kitchen dinette set, sofa, 2 chairs, washer and dryer, appliances and misc. items. There is plenty of parking and shed is included along with the outdoor shower. The 2026 lot rent is $914/month and will include sewer, trash removal services, amenities, and snow removal. 24-hour on-call maintenance, and on-site management. Discover your dream of affordable waterfront living in West Bay Park, a gem close to Lewes, Rehoboth Beach, and Dewey Beach. Our newly listed home offers the luxury of resort community living with marina access without the hefty price tag. This home is part of a vibrant community where scenic waterfront views and amenities of higher-priced neighborhoods come as a standard.

Key facts

• Brand new roof
• Lifetime warranty
• Outdoor shower

Tags

• BRAND NEW ROOF
• LIFETIME WARRANTY
• NEW ELECTRICAL PANEL
• JACK-AND-JILL BATHROOM
• OUTDOOR SHOWER
• MARINA ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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.
• Cape Henlopen School District (town): math 42% / reading 55% proficiency, ranked #5 of 26 in DE (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 818 active listings in the ZIP; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 + 0.8% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.06% ✓
• Cap rate: 17.53%
• Cash-on-cash: 40.14%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

• ARV (median comp): $106,160
• List price: $110,000
• Delta: 3.62%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34972 North Dr Unit B-13	0.14mi	3/2.0	924 (-6%)	1mo	$100,000	$108	81
34970 South Dr Unit D-11	0.18mi	2/1.0 (-1)	960 (-2%)	0mo	$122,000	$127	81
23309 Lawrence Ln #44993	0.70mi	2/2.0 (-1)	980 (0%)	3mo	$79,000	$81	58
35016 South Dr #45220	0.23mi	3/2.0	1,120 (+14%)	9mo	$120,000	$107	56
34938 North Dr Unit B6	0.12mi	2/1.0 (-1)	1,116 (+14%)	10mo	$50,000	$45	56
23323 Timothy Ln #37273	0.62mi	2/2.0 (-1)	980 (0%)	16mo	$72,500	$74	51
23290 Timothy Ln #52696	0.66mi	3/2.0	924 (-6%)	9mo	$110,000	$119	50
34339 Cedar Ln	0.74mi	2/2.0 (-1)	980 (0%)	16mo	$200,000	$204	46

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.45×
• Total profit: $13,808
• Equity at exit: $16,401

10-year hold

• IRR: 18.3%
• Equity multiple: 2.32×
• Total profit: $40,522
• Equity at exit: $9,511

Cash invested: $30,800 (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 19958

• Rents YoY: 0.8%
• Active inventory: 818
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,266 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $570

Break-even live

Break-even rent $1,545

Max offer price $110,000

Occupancy floor 70%

Sensitivity live

Price	-10% $646	-5% $608	+0% $570	+5% $532	+10% $494
Rent	-10% $391	-5% $480	+0% $570	+5% $659	+10% $749
Rate	-1.0pp $625	-0.5pp $598	base $570	+0.5pp $541	+1.0pp $512

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $110,000 Active 87 DOM
2. 2026-06-17
   days on market $110,000 Active 86 DOM
3. 2026-06-16
   days on market $110,000 Active 85 DOM
4. 2026-06-15
   days on market $110,000 Active 84 DOM
5. 2026-06-14
   days on market $110,000 Active 82 DOM
6. 2026-06-13
   pricedays on market $110,000 Active 81 DOM
7. 2026-06-10
   days on market $125,000 Active 79 DOM
8. 2026-06-09
   days on market $125,000 Active 78 DOM
9. 2026-06-08
   days on market $125,000 Active 77 DOM
10. 2026-06-07
    days on market $125,000 Active 76 DOM
11. 2026-06-05
    days on market $125,000 Active 73 DOM
12. 2026-06-03
    days on market $125,000 Active 72 DOM
13. 2026-06-02
    days on market $125,000 Active 71 DOM
14. 2026-06-01
    days on market $125,000 Active 70 DOM
15. 2026-05-31
    days on market $125,000 Active 69 DOM
16. 2026-05-30
    days on market $125,000 Active 68 DOM
17. 2026-05-05
    price $110,000 1069-char remark

    Show marketing remark (1069 chars)

    Located on Lot H-091 is a beautiful, 1978, 3 bedroom 1 and a half bath newly remodeled home with Brand New Roof with Lifetime Warranty and New Electrical Panel for sale listed at $125,000. The 2 smaller bedrooms have a jack-and-jill bathroom, which great for kids or guests. Perfect for a beach/vacation home on the beautiful Rehoboth Bay! This home will include the kitchen dinette set, sofa, 2 chairs, washer and dryer, appliances and misc. items. There is plenty of parking and shed is included along with the outdoor shower. The 2026 lot rent is $914/month and will include sewer, trash removal services, amenities, and snow removal. 24-hour on-call maintenance, and on-site management. Discover your dream of affordable waterfront living in West Bay Park, a gem close to Lewes, Rehoboth Beach, and Dewey Beach. Our newly listed home offers the luxury of resort community living with marina access without the hefty price tag. This home is part of a vibrant community where scenic waterfront views and amenities of higher-priced neighborhoods come as a standard.

18. 2026-03-23
    listed $125,000 Active 1069-char remark

    Show marketing remark (1069 chars)

    Located on Lot H-091 is a beautiful, 1978, 3 bedroom 1 and a half bath newly remodeled home with Brand New Roof with Lifetime Warranty and New Electrical Panel for sale listed at $125,000. The 2 smaller bedrooms have a jack-and-jill bathroom, which great for kids or guests. Perfect for a beach/vacation home on the beautiful Rehoboth Bay! This home will include the kitchen dinette set, sofa, 2 chairs, washer and dryer, appliances and misc. items. There is plenty of parking and shed is included along with the outdoor shower. The 2026 lot rent is $914/month and will include sewer, trash removal services, amenities, and snow removal. 24-hour on-call maintenance, and on-site management. Discover your dream of affordable waterfront living in West Bay Park, a gem close to Lewes, Rehoboth Beach, and Dewey Beach. Our newly listed home offers the luxury of resort community living with marina access without the hefty price tag. This home is part of a vibrant community where scenic waterfront views and amenities of higher-priced neighborhoods come as a standard.

19. 2025-10-31
    historical
20. 2025-09-11
    price $110,000
21. 2025-08-19
    status Active
22. 2025-08-17
    historical
23. 2025-07-11
    price $120,000
24. 2025-05-01
    price $140,000
25. 2025-02-14
    listed $150,000 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 6/10 Major FEMA zone AE · 63% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $27,196
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$6,075
• − Repairs & maintenance: −$2,176
• − Management: −$2,176
• − Depreciation: −$3,200
• Taxable income: $5,758
• Est. tax owed @ 24.0%: −$1,382
• After-tax cash flow: $5,456/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 80/100 Cosmetic rehab

This 1978 single-family home is in good condition with a new roof and modern updates, making it a great investment for both resale and rental.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Replace outdoor shower — Improves guest experience

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Replace outdoor shower — Improves guest experience ↑

ⓘ 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: Cape Henlopen School District
• NCES district ID: 1000170
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $60,196
• Composite: 42.47/100
• National rank: #3214
• State rank: #5 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
• Metro: Salisbury, MD-DE
• Population (ZIP): 31,938
• Household income: $97,197
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 545.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Romanian 6% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -204.07%
• Current HPI: 299.0736
• Rent YoY: ▲ 0.77%
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

-26.7% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $110,000 BRIGHT MLS
• 2026-03-23 Listed $125,000 BRIGHT MLS
• 2025-10-31 Listing Removed — BRIGHT MLS
• 2025-09-11 Price Changed $110,000 BRIGHT MLS
• 2025-08-19 Relisted — BRIGHT MLS
• 2025-08-17 Listing Removed — BRIGHT MLS
• 2025-07-11 Price Changed $120,000 BRIGHT MLS
• 2025-05-01 Price Changed $140,000 BRIGHT MLS
• 2025-02-14 Listed $150,000 BRIGHT MLS