31667 Siham Rd #11688 · Lewes, DE 19958

$95,000

3 bd · 2.0 ba · 924 sqft · SingleFamily · 154 Days on market

Built 1977 Excellent condition 65 ac lot $103/sqft · 27% above area Est $75k · 27% over ↓ 31% 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
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market at no fault of the sellers. Welcome to this beautifully renovated 3-bedroom, 2-bathroom manufactured home located in the peaceful Whispering Pines community of Lewes, Delaware. Completely transformed in 2023, this home feels like new and offers a blend of modern luxury with coastal charm. Inside, an open floor plan creates a seamless flow between the living, dining, and kitchen areas, ideal for both everyday living and entertaining. The kitchen is a showpiece, featuring vaulted ceilings that amplify the sense of space, a full-height subway tile backsplash for timeless elegance, and warm butcher block countertops that perfectly complement sleek grey cabinetry and stainless steel appliances. Whether you're preparing a casual meal or hosting a dinner party, this space will inspire your culinary creativity. The three generously sized bedrooms include walk-in closets, offering plenty of space and storage. Double entry doors at both the front and back of the home add convenience and charm and a separate shed provides additional storage for seasonal items or tools. The Whispering Pines community is tranquil, with well-maintained surroundings that enhance the peaceful living environment. Located just off Route 1, you’ll enjoy easy access to shopping centers, dining options, parks, bike paths, and some of the most beautiful beaches in Delaware. For outdoor enthusiasts, there are numerous recreational opportunities in the area, including state parks, wineries, and breweries. The community also offers a pool, lawn care, and trash services included in the monthly fee, ensuring a low-maintenance lifestyle. This home sits on leased land, with a monthly fee of $852.5, which covers access to all the community amenities. Seller is willing to cover the first three months of lot rent with a valid offer. Located within the highly-rated Cape Henlopen School District, this home is an excellent option for those seeking a relaxed and convenient coastal lifestyle. Fully renovated, beautifully maintained, and in a prime location, this home is truly one of a kind

Key facts

• Open floor plan
• Renovated
• Double entry doors

Tags

• RENOVATED
• OPEN FLOOR PLAN
• VAULTED CEILINGS
• BUTCHER BLOCK COUNTERTOPS
• WALK-IN CLOSETS
• DOUBLE ENTRY DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.3% vs local median 1.7% in Lewes — 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 67/100 on livability (#40 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: commute F, cost of living 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; 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 35% of the median local income ($97k/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 $657 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago 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

• 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.98% ✓
• Cap rate: 26.26%
• Cash-on-cash: 71.30%
• DSCR: 4.17
• GRM: 2.8

CMA / ARV

• ARV (median comp): $74,980
• List price: $95,000
• Delta: 26.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31582 Janice Rd #54584	0.10mi	2/2.0 (-1)	924 (0%)	13mo	$69,900	$76	79
30 Bristol Way Unit A-71	0.32mi	2/2.0 (-1)	924 (0%)	2mo	$65,000	$70	79
17614 Caroline Dr #17272	0.14mi	3/1.5	988 (+7%)	2mo	$65,000	$66	78
31602 Dogwood Ct	0.26mi	2/1.5 (-1)	924 (0%)	6mo	$43,000	$47	76
17611 Ebb Tide Dr	0.15mi	3/1.5	840 (-9%)	2mo	$85,000	$101	74
31690 Janice Rd #54514	0.11mi	3/2.0	1,014 (+10%)	8mo	$82,500	$81	72
17538 Mary Ann Dr #14849	0.06mi	3/2.0	1,000 (+8%)	14mo	$83,000	$83	72
32000 Janice Rd #42942	0.30mi	3/1.0	980 (+6%)	0mo	$58,000	$59	72
31715 Sycamore Ct Unit H-48	0.23mi	2/1.0 (-1)	896 (-3%)	11mo	$67,000	$75	66
31673 Renee Rd #21197	0.27mi	2/2.0 (-1)	980 (+6%)	14mo	$105,000	$107	61
15 Bristol Way #36841	0.41mi	2/2.0 (-1)	980 (+6%)	11mo	$97,000	$99	57
31700 Sycamore Ct #38603	0.25mi	2/1.0 (-1)	1,024 (+11%)	8mo	$32,000	$31	54

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: 68.4%
• Equity multiple: 3.97×
• Total profit: $79,101
• Equity at exit: $14,165

10-year hold

• IRR: 71.8%
• Equity multiple: 7.55×
• Total profit: $174,289
• Equity at exit: $8,214

Cash invested: $26,600 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,832 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,581

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,646	-5% $1,613	+0% $1,581	+5% $1,548	+10% $1,515
Rent	-10% $1,357	-5% $1,469	+0% $1,581	+5% $1,692	+10% $1,804
Rate	-1.0pp $1,628	-0.5pp $1,605	base $1,581	+0.5pp $1,556	+1.0pp $1,531

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12001 Old Vine Blvd Lewes, DE	1.0–2.0	1.0–2.0	987	$3,055	$3.10	14d	17	0.51mi
33082 E Light Dr Lewes, DE	4.0	2.0	992	$2,600	$2.62	45d	1	1.47mi

Listing history 33 events

1. 2026-06-18
   days on market $95,000 Active 154 DOM
2. 2026-06-17
   days on market $95,000 Active 153 DOM
3. 2026-06-16
   days on market $95,000 Active 152 DOM
4. 2026-06-15
   days on market $95,000 Active 151 DOM
5. 2026-06-14
   days on market $95,000 Active 149 DOM
6. 2026-06-13
   days on market $95,000 Active 148 DOM
7. 2026-06-10
   days on market $95,000 Active 146 DOM
8. 2026-06-09
   days on market $95,000 Active 145 DOM
9. 2026-06-08
   days on market $95,000 Active 144 DOM
10. 2026-06-07
    days on market $95,000 Active 143 DOM
11. 2026-06-05
    days on market $95,000 Active 140 DOM
12. 2026-06-03
    days on market $95,000 Active 139 DOM
13. 2026-06-02
    days on market $95,000 Active 138 DOM
14. 2026-06-01
    days on market $95,000 Active 137 DOM
15. 2026-05-31
    days on market $95,000 Active 136 DOM
16. 2026-05-30
    days on market $95,000 Active 135 DOM
17. 2026-05-12
    status Active 2097-char remark

    Show marketing remark (2097 chars)

    Back on the market at no fault of the sellers. Welcome to this beautifully renovated 3-bedroom, 2-bathroom manufactured home located in the peaceful Whispering Pines community of Lewes, Delaware. Completely transformed in 2023, this home feels like new and offers a blend of modern luxury with coastal charm. Inside, an open floor plan creates a seamless flow between the living, dining, and kitchen areas, ideal for both everyday living and entertaining. The kitchen is a showpiece, featuring vaulted ceilings that amplify the sense of space, a full-height subway tile backsplash for timeless elegance, and warm butcher block countertops that perfectly complement sleek grey cabinetry and stainless steel appliances. Whether you're preparing a casual meal or hosting a dinner party, this space will inspire your culinary creativity. The three generously sized bedrooms include walk-in closets, offering plenty of space and storage. Double entry doors at both the front and back of the home add convenience and charm and a separate shed provides additional storage for seasonal items or tools. The Whispering Pines community is tranquil, with well-maintained surroundings that enhance the peaceful living environment. Located just off Route 1, you’ll enjoy easy access to shopping centers, dining options, parks, bike paths, and some of the most beautiful beaches in Delaware. For outdoor enthusiasts, there are numerous recreational opportunities in the area, including state parks, wineries, and breweries. The community also offers a pool, lawn care, and trash services included in the monthly fee, ensuring a low-maintenance lifestyle. This home sits on leased land, with a monthly fee of $852.5, which covers access to all the community amenities. Seller is willing to cover the first three months of lot rent with a valid offer. Located within the highly-rated Cape Henlopen School District, this home is an excellent option for those seeking a relaxed and convenient coastal lifestyle. Fully renovated, beautifully maintained, and in a prime location, this home is truly one of a kind

18. 2026-04-29
    historical Active Under Contract 2097-char remark

    Show marketing remark (2097 chars)

    Back on the market at no fault of the sellers. Welcome to this beautifully renovated 3-bedroom, 2-bathroom manufactured home located in the peaceful Whispering Pines community of Lewes, Delaware. Completely transformed in 2023, this home feels like new and offers a blend of modern luxury with coastal charm. Inside, an open floor plan creates a seamless flow between the living, dining, and kitchen areas, ideal for both everyday living and entertaining. The kitchen is a showpiece, featuring vaulted ceilings that amplify the sense of space, a full-height subway tile backsplash for timeless elegance, and warm butcher block countertops that perfectly complement sleek grey cabinetry and stainless steel appliances. Whether you're preparing a casual meal or hosting a dinner party, this space will inspire your culinary creativity. The three generously sized bedrooms include walk-in closets, offering plenty of space and storage. Double entry doors at both the front and back of the home add convenience and charm and a separate shed provides additional storage for seasonal items or tools. The Whispering Pines community is tranquil, with well-maintained surroundings that enhance the peaceful living environment. Located just off Route 1, you’ll enjoy easy access to shopping centers, dining options, parks, bike paths, and some of the most beautiful beaches in Delaware. For outdoor enthusiasts, there are numerous recreational opportunities in the area, including state parks, wineries, and breweries. The community also offers a pool, lawn care, and trash services included in the monthly fee, ensuring a low-maintenance lifestyle. This home sits on leased land, with a monthly fee of $852.5, which covers access to all the community amenities. Seller is willing to cover the first three months of lot rent with a valid offer. Located within the highly-rated Cape Henlopen School District, this home is an excellent option for those seeking a relaxed and convenient coastal lifestyle. Fully renovated, beautifully maintained, and in a prime location, this home is truly one of a kind

19. 2026-01-02
    listed $95,000 Active 2097-char remark

    Show marketing remark (2097 chars)

    Back on the market at no fault of the sellers. Welcome to this beautifully renovated 3-bedroom, 2-bathroom manufactured home located in the peaceful Whispering Pines community of Lewes, Delaware. Completely transformed in 2023, this home feels like new and offers a blend of modern luxury with coastal charm. Inside, an open floor plan creates a seamless flow between the living, dining, and kitchen areas, ideal for both everyday living and entertaining. The kitchen is a showpiece, featuring vaulted ceilings that amplify the sense of space, a full-height subway tile backsplash for timeless elegance, and warm butcher block countertops that perfectly complement sleek grey cabinetry and stainless steel appliances. Whether you're preparing a casual meal or hosting a dinner party, this space will inspire your culinary creativity. The three generously sized bedrooms include walk-in closets, offering plenty of space and storage. Double entry doors at both the front and back of the home add convenience and charm and a separate shed provides additional storage for seasonal items or tools. The Whispering Pines community is tranquil, with well-maintained surroundings that enhance the peaceful living environment. Located just off Route 1, you’ll enjoy easy access to shopping centers, dining options, parks, bike paths, and some of the most beautiful beaches in Delaware. For outdoor enthusiasts, there are numerous recreational opportunities in the area, including state parks, wineries, and breweries. The community also offers a pool, lawn care, and trash services included in the monthly fee, ensuring a low-maintenance lifestyle. This home sits on leased land, with a monthly fee of $852.5, which covers access to all the community amenities. Seller is willing to cover the first three months of lot rent with a valid offer. Located within the highly-rated Cape Henlopen School District, this home is an excellent option for those seeking a relaxed and convenient coastal lifestyle. Fully renovated, beautifully maintained, and in a prime location, this home is truly one of a kind

20. 2025-12-31
    historical
21. 2025-10-09
    price $95,000
22. 2025-08-15
    status Active
23. 2025-07-18
    historical Active Under Contract
24. 2025-04-24
    price $99,999
25. 2025-02-28
    price $109,900
26. 2024-12-20
    listed $115,000 Active
27. 2023-12-22
    soldstatus $105,000 Closed
28. 2023-11-17
    historical Active Under Contract
29. 2023-11-10
    price $115,000
30. 2023-10-31
    price $120,000
31. 2023-09-13
    price $127,000
32. 2023-09-01
    price $134,500
33. 2023-08-22
    listed $137,000 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $33,981
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$2,718
• − Management: −$2,718
• − Depreciation: −$2,764
• Taxable income: $18,559
• Est. tax owed @ 24.0%: −$4,454
• After-tax cash flow: $14,513/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 · 13 photos

Excellent 95/100 None rehab

This beautifully renovated home in the Whispering Pines community of Lewes, Delaware, is move-in ready with modern updates and a clean, well-maintained appearance.

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance.
• Resale Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance. ↑
• Resale Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract potential buyers. ↑

ⓘ 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 — Lewes

• Score: 67/100
• State rank: #40
• US rank: #11077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 31,938
• 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

-30.7% since first listed

17 events — show timeline

• 2026-05-12 Relisted — BRIGHT MLS
• 2026-04-29 Contingent — BRIGHT MLS
• 2026-01-02 Listed $95,000 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-10-09 Price Changed $95,000 BRIGHT MLS
• 2025-08-15 Relisted — BRIGHT MLS
• 2025-07-18 Contingent — BRIGHT MLS
• 2025-04-24 Price Changed $99,999 BRIGHT MLS
• 2025-02-28 Price Changed $109,900 BRIGHT MLS
• 2024-12-20 Listed $115,000 BRIGHT MLS
• 2023-12-22 Sold (MLS) $105,000 BRIGHT MLS
• 2023-11-17 Contingent — BRIGHT MLS
• 2023-11-10 Price Changed $115,000 BRIGHT MLS
• 2023-10-31 Price Changed $120,000 BRIGHT MLS
• 2023-09-13 Price Changed $127,000 BRIGHT MLS
• 2023-09-01 Price Changed $134,500 BRIGHT MLS
• 2023-08-22 Listed $137,000 BRIGHT MLS