Nassau Cove Plan · Bridgeville, DE 19933

$269,990

3 bd · 2.5 ba · 1,629 sqft · Townhouse · 335 Days on market

55+ age-restricted Good condition

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Why this score? — see what drove the D 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 +11.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Condition / age +4.0/5.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Experience the ease of main-level living with a first-floor owner's suite in the Nassau Cove Interior Home at Heritage Shores Villas 55+ - designed for comfort, simplicity, and an active lifestyle. This interior townhome features a smart, efficient layout where the kitchen, dining area, and great room connect seamlessly, crafting a cozy-yet-open space for everyday living. The first-floor owner's suite is thoughtfully positioned for privacy and convenience, offering a walk-in closet and end suite bath so you can enjoy peaceful morning and restful evenings without needing to climb stairs. Upstairs, additional bedrooms and a full bath provide the perfect setup for hosting overnight guests, pursuing hobbies, or creating a quiet office or bonus space. With thoughtful storage options throughout and a one-car garage, the Nassau Cove Interior Home balances functionality with low-maintenance design. Heritage Shores Villas 55+ allows you to enjoy a lock-and-leave lifestyle with lawn care and exterior maintenance included, plus access to an amenity-rich community designed exclusively for active adults. From social opportunities to everyday conveniences, everything here supports a lifestyle centered on relaxation and connection. The Nassau Cove Interior Home is ideal for those seeking low-maintenance, purposeful design, and the comfort of an owner's suite on the main floor - without sacrificing space or style.

Key facts

• Inviting great room
• Large center island
• Formal dining space

Tags

• GORGEOUS GOURMET KITCHEN
• LARGE CENTER ISLAND
• INVITING GREAT ROOM
• FORMAL DINING SPACE
• OPTIONAL OUTDOOR PATIO
• LUXURY OWNER'S SUITE

🏗️ New construction. The $269,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $369,974.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-525 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (4.8% below list).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#48 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A, crime B; Watch: amenities F, commute F.
• Woodbridge School District (rural): math 17% / reading 34% proficiency, ranked #21 of 26 in DE (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Woodbridge Early Childhood Education Center (592 students, 0% FRL); Woodbridge Middle School (math 13% / reading 37%, grade F, #22 of 36 statewide, top 63%, 598 students, 0% FRL); Woodbridge High School (math 12% / reading 27%, grade F, #32 of 40 statewide, top 85%, 723 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 152 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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).
• At $2,571/mo this rent would consume 50% of the median local household income ($61k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($3k loan paydown + $4k appreciation (1.1% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Recommended offer $237,591 (12.0% 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 335 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 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?
6. 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?
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: 0.70% ✗
• Cap rate: 4.59%
• Cash-on-cash: -6.09%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $369,974
• List price: $269,990
• Delta: -27.02%
• 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
399 Heritage Shores Cir	0.08mi	2/2.0 (-1)	1,500 (-8%)	14mo	$380,000	$253	64
391 Heritage Shores Cir	0.06mi	2/2.0 (-1)	1,500 (-8%)	19mo	$339,590	$226	62
42 Whistling Duck Dr	0.49mi	2/2.0 (-1)	1,683 (+3%)	4mo	$320,000	$190	61
387 Heritage Shores Cir	0.05mi	2/2.0 (-1)	1,449 (-11%)	14mo	$349,990	$242	60
34 White Pelican Ct	0.61mi	2/2.0 (-1)	1,645 (+1%)	10mo	$305,000	$185	55
303 Waterside Sq	0.04mi	2/2.0 (-1)	1,449 (-11%)	23mo	$364,200	$251	54
30 White Pelican Ct	0.61mi	2/2.0 (-1)	1,605 (-2%)	14mo	$285,000	$178	50
98 Whistling Duck Dr	0.70mi	2/2.0 (-1)	1,602 (-2%)	11mo	$330,000	$206	48
49 Whistling Duck Dr	0.52mi	2/2.0 (-1)	1,593 (-2%)	21mo	$318,000	$200	47
64 Whistling Duck Dr	0.57mi	2/2.0 (-1)	1,658 (+2%)	20mo	$295,000	$178	47
66 Whistling Duck Dr	0.58mi	2/2.0 (-1)	1,464 (-10%)	14mo	$345,000	$236	38
36 Whistling Duck Dr	0.48mi	2/2.0 (-1)	1,870 (+15%)	23mo	$335,000	$179	27

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

Projected returns pro-forma

1.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.77×
• Total profit: $-23,936
• Equity at exit: $129,037

10-year hold

• IRR: 0.7%
• Equity multiple: 1.09×
• Total profit: $8,883
• Equity at exit: $173,612

Cash invested: $103,593 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 2 under contract
• Months of supply: 30.0 mo (3%/mo absorbed)
• Median asking: $292,490 ($182/sqft)
• Median days on market: 51 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +24.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 19933

• Home prices YoY: 0.4%
• Active inventory: 152
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,571 high
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $-525

Break-even live

Break-even rent $3,236

Max offer price $293,946

Occupancy floor —

Sensitivity live

Price	-10% $-270	-5% $-398	+0% $-525	+5% $-653	+10% $-781
Rent	-10% $-729	-5% $-627	+0% $-525	+5% $-424	+10% $-322
Rate	-1.0pp $-339	-0.5pp $-431	base $-525	+0.5pp $-621	+1.0pp $-719

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: $92,494
• Closing costs: $11,099
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
377 Waterside Sq Bridgeville, DE	3.0	2.5	1253	$2,500	$2.00	140d	1	0.05mi
12 Whistling Duck Dr Bridgeville, DE	3.0	2.0	1902	$2,800	$1.47	0d	1	0.39mi
318 Choptank Dr Bridgeville, DE	2.0–3.0	2.5–3.5	1635	$2,649	$1.62	0d	1	0.50mi
106 Heritage Shores Cir Bridgeville, DE	3.0–4.0	2.0–3.0	2141	$2,999	$1.40	0d	13	0.61mi
23613 Linkside Dr Bridgeville, DE	3.0	2.0	1650	$2,000	$1.21	140d	1	0.88mi

Listing history 50 events

1. 2026-09-24
   days on market $269,990 Active 335 DOM
2. 2026-09-23
   days on market $269,990 Active 334 DOM
3. 2026-09-21
   days on market $269,990 Active 332 DOM
4. 2026-09-20
   days on market $269,990 Active 331 DOM
5. 2026-09-19
   days on market $269,990 Active 330 DOM
6. 2026-09-18
   days on market $269,990 Active 329 DOM
7. 2026-09-17
   days on market $269,990 Active 328 DOM
8. 2026-09-16
   days on market $269,990 Active 327 DOM
9. 2026-09-15
   days on market $269,990 Active 326 DOM
10. 2026-09-14
    days on market $269,990 Active 325 DOM
11. 2026-09-13
    days on market $269,990 Active 324 DOM
12. 2026-09-12
    days on market $269,990 Active 323 DOM
13. 2026-09-11
    days on market $269,990 Active 322 DOM
14. 2026-09-05
    days on market $269,990 Active 316 DOM
15. 2026-09-04
    days on market $269,990 Active 315 DOM
16. 2026-09-03
    days on market $269,990 Active 314 DOM
17. 2026-09-02
    days on market $269,990 Active 313 DOM
18. 2026-08-29
    days on market $269,990 Active 309 DOM
19. 2026-08-28
    days on market $269,990 Active 308 DOM
20. 2026-08-27
    days on market $269,990 Active 307 DOM
21. 2026-08-26
    days on market $269,990 Active 306 DOM
22. 2026-08-25
    days on market $269,990 Active 305 DOM
23. 2026-08-24
    days on market $269,990 Active 304 DOM
24. 2026-08-23
    days on market $269,990 Active 303 DOM
25. 2026-08-22
    days on market $269,990 Active 302 DOM
26. 2026-08-21
    days on market $269,990 Active 301 DOM
27. 2026-08-20
    days on market $269,990 Active 300 DOM
28. 2026-08-19
    days on market $269,990 Active 299 DOM
29. 2026-08-18
    days on market $269,990 Active 298 DOM
30. 2026-08-17
    days on market $269,990 Active 297 DOM
31. 2026-08-16
    days on market $269,990 Active 296 DOM
32. 2026-08-15
    days on market $269,990 Active 295 DOM
33. 2026-08-14
    days on market $269,990 Active 294 DOM
34. 2026-08-13
    days on market $269,990 Active 293 DOM
35. 2026-08-12
    days on market $269,990 Active 292 DOM
36. 2026-08-11
    days on market $269,990 Active 291 DOM
37. 2026-08-10
    days on market $269,990 Active 290 DOM
38. 2026-08-09
    days on market $269,990 Active 289 DOM
39. 2026-08-08
    days on market $269,990 Active 288 DOM
40. 2026-08-07
    days on market $269,990 Active 287 DOM
41. 2026-08-06
    days on market $269,990 Active 286 DOM
42. 2026-08-05
    days on market $269,990 Active 285 DOM
43. 2026-08-04
    days on market $269,990 Active 284 DOM
44. 2026-08-03
    days on market $269,990 Active 283 DOM
45. 2026-07-31
    days on market $269,990 Active 280 DOM
46. 2026-07-29
    days on market $269,990 Active 278 DOM
47. 2026-07-27
    days on market $269,990 Active 276 DOM
48. 2026-07-25
    days on market $269,990 Active 274 DOM
49. 2026-07-24
    days on market $269,990 Active 273 DOM
50. 2026-07-23
    days on market $269,990 Active 272 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,857
• − Mortgage interest: −$20,724
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − Depreciation: −$10,763
• Taxable loss: −$12,967
• Est. tax savings @ 24.0%: +$3,112
• After-tax cash flow: $-3,193/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 None rehab

This townhouse is in excellent condition with a modern kitchen, well-maintained interior, and a good curb appeal. It is move-in ready and would benefit from some exterior painting and landscaping improvements to further enhance its value.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters. ↑
• Both Adding smart home features — Smart home features can increase the property's appeal and value, especially for tech-savvy buyers/renters. ↑

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Phillis Wheatley Elementary School F DE #57/105 Nat'l #28,012/41,679 Middle Woodbridge Middle School F DE #22/36 Nat'l #10,338/14,009 High Woodbridge High School F DE #32/40 Nat'l #14,491/17,239

Schools (NCES district)

• District: Woodbridge School District
• NCES district ID: 1001850
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $48,711
• Composite: 22.28/100
• National rank: #8137
• State rank: #21 of 26 in DE

C Composite livability gradescore 64/100

Livability — Bridgeville

• Score: 64/100
• State rank: #48
• US rank: #13807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bridgeville, DE
• County: Sussex · 248,853 people
• City population: 11,409
• Population (ZIP): 11,409
• Household income: $61,261
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 4% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 52% Hispanic / Latino 22% Black 21% Two or more races 10%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Romanian 2% Hispanic 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 80% English-only · Spanish 16% French/Haitian/Cajun 3% Other Indo-European 1%

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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: ▲ 1.14%
• Current HPI: 283.0199
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6.0% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $264,990 Zillow
• 2026-05-14 Price Changed $259,990 Zillow
• 2026-04-21 Price Changed $249,990 Zillow
• 2025-12-07 Price Changed $259,990 Zillow
• 2025-10-24 Listed $249,990 Zillow