17063 W Holly Dr · Lewes, DE 19968

$360,000

3 bd · 3.0 ba · 1,712 sqft · SingleFamily public records · 140 Days on market

Built 1989 0.40 ac lot $210/sqft · 23% below area Est $451k · 20% under $8/mo HOA

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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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1989

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (32.2% below list).
• Recommended offer: $244k (32.2% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.8% 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.
• Zoned schools: Milton Elementary School (math 47% / reading 57%, grade C-, #13 of 105 statewide, top 12%, 556 students, 0% FRL); Mariner Middle School (math 32% / reading 48%, grade F, #7 of 36 statewide, top 17%, 664 students, 0% FRL); Cape Henlopen High School (math 26% / reading 51%, grade F, #14 of 40 statewide, top 33%, 1,813 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 391 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 140 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $65k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,954 (32.2% 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 140 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 12.3

CMA / ARV

• ARV (median comp): $451,362
• List price: $360,000
• Delta: -20.24%
• 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
16897 Randor Dr	0.15mi	3/2.0	1,665 (-3%)	10mo	$380,000	$228	76
29645 Riverstone Dr	0.58mi	3/2.0	1,730 (+1%)	1mo	$425,000	$246	66
17547 Cloud Nine Dr	0.49mi	3/2.0	1,764 (+3%)	3mo	$525,000	$298	66
29649 Riverstone Dr	0.60mi	3/2.0	1,702 (-1%)	2mo	$419,000	$246	65
29635 Riverstone Dr	0.51mi	3/2.0	1,732 (+1%)	6mo	$390,000	$225	65
16998 Jays Way	0.40mi	3/2.0	1,638 (-4%)	9mo	$426,000	$260	63
17302 Jerry St	0.39mi	3/2.0	1,820 (+6%)	7mo	$379,000	$208	61
29751 Pebblestone Loop	0.70mi	3/2.0	1,730 (+1%)	1mo	$475,000	$275	60
29648 Riverstone Dr	0.62mi	3/2.0	1,746 (+2%)	9mo	$449,900	$258	56
29671 Riverstone Dr	0.59mi	3/2.0	1,851 (+8%)	0mo	$464,900	$251	55
16770 Brookstone Dr	0.49mi	3/2.0	1,968 (+15%)	9mo	$480,000	$244	41
30830 Mills Ridge Rd	0.68mi	3/2.5	1,461 (-15%)	5mo	$650,000	$445	38

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-70,239
• Equity at exit: $53,677

10-year hold

• IRR: -13.1%
• Equity multiple: 0.24×
• Total profit: $-77,030
• Equity at exit: $31,126

Cash invested: $100,800 (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 19968

• Home prices YoY: -11.2%
• Active inventory: 391
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,440 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$65 /mo · $782/yr
• Insurance: −$150
• HOA: −$8
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-184

Break-even live

Break-even rent $2,672

Max offer price $327,525

Occupancy floor —

Sensitivity live

Price	-10% $20	-5% $-82	+0% $-184	+5% $-286	+10% $-817
Rent	-10% $-377	-5% $-280	+0% $-184	+5% $-87	+10% $9
Rate	-1.0pp $-3	-0.5pp $-92	base $-184	+0.5pp $-277	+1.0pp $-372

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16832 Ole Grist Run Milton, DE	3.0	2.0	1375	$2,300	$1.67	45d	1	0.31mi
16894 Beulah Blvd Milton, DE	3.0	2.0	1875	$2,695	$1.44	23d	3	0.73mi
17010 Minos Conaway Rd Lewes, DE	3.0	2.0	1600	$2,500	$1.56	45d	1	1.42mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: water

Listing history 16 events

1. 2026-06-01
   status $360,000 Pending 140 DOM
2. 2026-05-31
   days on market $360,000 Active 140 DOM
3. 2026-05-30
   days on market $360,000 Active 139 DOM
4. 2026-05-16
   price $384,000 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

5. 2026-04-04
   price $389,000 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

6. 2026-03-06
   price $394,000 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

7. 2026-02-03
   price $399,000 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

8. 2026-01-08
   price $425,000 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

9. 2026-01-08
   listed $425,000 Active 590-char remark

   Show marketing remark (590 chars)

   Welcome to 17063 W Holly Drive, located in the desirable Overbrook Shores community. This home provides access to everything the neighborhood offers, including water access, boating, fishing, a peaceful coastal lifestyle, and community amenities. The kitchen and both bathrooms were renovated in 2021, providing modern finishes and functionality. Come and add your personal touches to make this home yours. Conveniently located close to Delaware beaches and tax-free shopping, as well as dining and local attractions. Don’t miss your opportunity to own in this sought-after community.

10. 2021-05-07
    soldstatus $330,000
11. 2015-08-18
    soldstatus $223,900
12. 2015-08-14
    soldstatus $223,900 830-char remark

    Show marketing remark (830 chars)

    Here it is! The one you have been waiting for! This Overbrook Shores home has it all! 4 bedrooms, 3 bathrooms which includes a master bedroom with full bath. The large open kitchen has move-able center island and tons of storage space and counter tops for days. The kitchen opens to the inviting living room to the right or the warm, bright and cozy Florida room to the left. It has a 2 car garage with wall to wall cabinets and counter space for the perfect workshop or "man cave. " The large backyard is great for entertaining which includes an awning above the patio for added comfort! Located in a spectacular neighborhood close to everything the beach has to offer including water access to Red Mill Pond makes this home stand out from the rest! Pride of ownership, original owners. .. .. this one will not last!!

13. 2015-07-18
    historical 830-char remark

    Show marketing remark (830 chars)

    Here it is! The one you have been waiting for! This Overbrook Shores home has it all! 4 bedrooms, 3 bathrooms which includes a master bedroom with full bath. The large open kitchen has move-able center island and tons of storage space and counter tops for days. The kitchen opens to the inviting living room to the right or the warm, bright and cozy Florida room to the left. It has a 2 car garage with wall to wall cabinets and counter space for the perfect workshop or "man cave. " The large backyard is great for entertaining which includes an awning above the patio for added comfort! Located in a spectacular neighborhood close to everything the beach has to offer including water access to Red Mill Pond makes this home stand out from the rest! Pride of ownership, original owners. .. .. this one will not last!!

14. 2015-06-18
    listed $223,900 830-char remark

    Show marketing remark (830 chars)

    Here it is! The one you have been waiting for! This Overbrook Shores home has it all! 4 bedrooms, 3 bathrooms which includes a master bedroom with full bath. The large open kitchen has move-able center island and tons of storage space and counter tops for days. The kitchen opens to the inviting living room to the right or the warm, bright and cozy Florida room to the left. It has a 2 car garage with wall to wall cabinets and counter space for the perfect workshop or "man cave. " The large backyard is great for entertaining which includes an awning above the patio for added comfort! Located in a spectacular neighborhood close to everything the beach has to offer including water access to Red Mill Pond makes this home stand out from the rest! Pride of ownership, original owners. .. .. this one will not last!!

15. 2013-11-25
    historical
16. 2013-09-28
    listed $229,900

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

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $782 · $65/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$653/yr (+$54/mo · 83.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 17 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: $29,274
• − Mortgage interest: −$20,166
• − Property taxes: −$782
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,342
• − Management: −$2,342
• − HOA: −$96
• − Depreciation: −$10,473
• Taxable loss: −$8,726
• Est. tax savings @ 24.0%: +$2,094
• After-tax cash flow: $-112/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: 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

• City population: 31,938
• Population (ZIP): 14,791

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 (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 5% Slovak 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica, Dominican Republic
• Languages at home: 92% English-only · Spanish 5% Vietnamese 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: ▼ -43.93%
• Current HPI: 349.5055
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+67.0% since first listed

13 events — show timeline

• 2026-05-16 Price Changed $384,000 BRIGHT MLS
• 2026-04-04 Price Changed $389,000 BRIGHT MLS
• 2026-03-06 Price Changed $394,000 BRIGHT MLS
• 2026-02-03 Price Changed $399,000 BRIGHT MLS
• 2026-01-08 Price Changed $425,000 BRIGHT MLS
• 2026-01-08 Listed $425,000 BRIGHT MLS
• 2021-05-07 Sold (Public Records) $330,000 Public Records
• 2015-08-18 Sold (Public Records) $223,900 Public Records
• 2015-08-14 Sold (MLS) $223,900 BRIGHT MLS
• 2015-07-18 Listing Removed — BRIGHT MLS
• 2015-06-18 Listed $223,900 BRIGHT MLS
• 2013-11-25 Listing Removed — BRIGHT MLS
• 2013-09-28 Listed $229,900 BRIGHT MLS

Property tax history

+5.0%/yr

Latest (2025): $782 · -24.8% YoY. Source: county tax records.