37371 Georgia Dr · Ocean View, DE 19945

$325,000

3 bd · 3.0 ba · 1,850 sqft · Manufactured · 29 Days on market

Built 1986 0.36 ac lot $10/mo HOA

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Why this score? — see what drove the C- 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 +15.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious and close to the beach, this 3 Bedroom, 3 bath home offers a Primary Bedroom and Bath and a Jack & Jill Bath between the Second & Third Bedrooms. With 2 Living areas, Dining area and Kitchen with plenty of cabinet space, rear screened porch and located on an 1+ acre of land in a community with $125 yearly HOA fees. New roof and New heater in 2021.

Key facts

• Walk-in closet
• Ensuite bath
• Wooded corner lot

Tags

• WOODED CORNER LOT
• SPLIT-BEDROOM FLOOR PLAN
• WALK-IN CLOSET
• ENSUITE BATH
• COZY WOOD-BURNING FIREPLACE
• OPEN KITCHEN

Property features AI

Finance

• Other: Fee simple ownership; Not in a federal flood zone; Accessibility: 2+ access exits; Pets allowed (cats and dogs OK); Ground rent paid annually
• HOA & community: HOA fee of $125 annually

Exterior

• Parking: Five driveway/off-street parking spaces; Circular driveway; Dirt driveway
• Utilities: Well water; Public sewer; 200+ amp electric service; Propane available and used for heating (metered); Cable TV available; Municipal trash not provided
• Home design: Manufactured home (double wide); Estimated year built; Entry-level bedroom present; Outside city limits; Corner lot/unit
• Construction: Vinyl siding; Crawl space foundation; Building not winterized
• Exterior features: Deck(s) and porch(es); Corner lot; Front yard and rear yard; Side yards; Partly wooded and backs to trees; secluded setting with trees/wooded

Interior

• Kitchen: Kitchen with island
• Bedrooms: Three bedrooms on the main level; At least one entry-level bedroom
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning (electric); Wood-burning stove for heat; Hot water: electric
• Interior features: Ceiling fans; Open floor plan with combined dining/living and kitchen/dining areas; Dining area; Family room off the kitchen; Kitchen island; Master bathroom
• Laundry & utility: Washer and dryer in unit; Hookups provided

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $325k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (19.9% below list).
• Recommended offer: $260k (19.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#27 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Lord Baltimore Elementary School (math 51% / reading 67%, grade B-, #4 of 105 statewide, top 4%, 579 students, 0% FRL); Selbyville Middle School (math 20% / reading 49%, grade F, #12 of 36 statewide, top 34%, 719 students, 0% FRL); Indian River High School (math 32% / reading 52%, grade F, #10 of 40 statewide, top 26%, 1,088 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 45% at this address vs 33% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Indian River School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 285 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $250k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $260,485 (19.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $183,808
• Equity at exit: $292,786

10-year hold

• IRR: 22.3%
• Equity multiple: 6.88×
• Total profit: $535,535
• Equity at exit: $631,404

Cash invested: $91,000 (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 19945

• Home prices YoY: 16.9%
• Active inventory: 285
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,605 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$135
• HOA: −$10
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $109

Break-even live

Break-even rent $2,467

Max offer price $325,000

Occupancy floor 91%

Sensitivity live

Price	-10% $293	-5% $201	+0% $109	+5% $17	+10% $-75
Rent	-10% $-97	-5% $6	+0% $109	+5% $212	+10% $315
Rate	-1.0pp $273	-0.5pp $192	base $109	+0.5pp $25	+1.0pp $-61

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35059 Dundee St Frankford, DE	4.0	2.5	2565	$2,800	$1.09	22d	1	0.45mi
33697 Ashland Dr Frankford, DE	3.0	2.0	1696	$2,200	$1.30	44d	1	1.19mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 21 events

1. 2026-06-21
   days on market $325,000 Active 29 DOM
2. 2026-06-18
   days on market $325,000 Active 26 DOM
3. 2026-06-17
   days on market $325,000 Active 25 DOM
4. 2026-06-16
   days on market $325,000 Active 24 DOM
5. 2026-06-15
   days on market $325,000 Active 23 DOM
6. 2026-06-14
   days on market $325,000 Active 21 DOM
7. 2026-06-13
   days on market $325,000 Active 20 DOM
8. 2026-06-10
   days on market $325,000 Active 18 DOM
9. 2026-06-09
   days on market $325,000 Active 17 DOM
10. 2026-06-08
    days on market $325,000 Active 16 DOM
11. 2026-06-07
    days on market $325,000 Active 15 DOM
12. 2026-06-02
    days on market $325,000 Active 10 DOM
13. 2026-06-01
    days on market $325,000 Active 9 DOM
14. 2026-05-31
    days on market $325,000 Active 8 DOM
15. 2026-05-30
    days on market $325,000 Active 7 DOM
16. 2026-05-23
    listed $325,000 Active
17. 2021-07-14
    soldstatus $250,000
18. 2021-06-30
    soldstatus $250,000 Closed 370-char remark

    Show marketing remark (370 chars)

    Spacious and close to the beach, this 3 Bedroom, 3 bath home offers a Primary Bedroom and Bath and a Jack & Jill Bath between the Second & Third Bedrooms. With 2 Living areas, Dining area and Kitchen with plenty of cabinet space, rear screened porch and located on an 1+ acre of land in a community with $125 yearly HOA fees. New roof and New heater in 2021.

19. 2021-05-06
    status Pending 370-char remark

    Show marketing remark (370 chars)

    Spacious and close to the beach, this 3 Bedroom, 3 bath home offers a Primary Bedroom and Bath and a Jack & Jill Bath between the Second & Third Bedrooms. With 2 Living areas, Dining area and Kitchen with plenty of cabinet space, rear screened porch and located on an 1+ acre of land in a community with $125 yearly HOA fees. New roof and New heater in 2021.

20. 2021-05-04
    listed $229,000 Active 370-char remark

    Show marketing remark (370 chars)

    Spacious and close to the beach, this 3 Bedroom, 3 bath home offers a Primary Bedroom and Bath and a Jack & Jill Bath between the Second & Third Bedrooms. With 2 Living areas, Dining area and Kitchen with plenty of cabinet space, rear screened porch and located on an 1+ acre of land in a community with $125 yearly HOA fees. New roof and New heater in 2021.

21. 1986-10-24
    soldstatus $9,200

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,536 · $128/mo
• Expected delta: +$349/yr (+$29/mo · 29.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,258
• − Mortgage interest: −$18,205
• − Property taxes: −$1,188
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,501
• − Management: −$2,501
• − HOA: −$120
• − Depreciation: −$9,455
• Taxable loss: −$4,336
• Est. tax savings @ 24.0%: +$1,041
• After-tax cash flow: $2,350/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: 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 — Ocean View

• Score: 69/100
• State rank: #27
• US rank: #8560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,917

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 (77%)
• Race & ethnicity: White 77% Black 12% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 46.51%
• Current HPI: 322.2407
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+3432.6% since first listed

6 events — show timeline

• 2026-05-23 Listed $325,000 BRIGHT MLS
• 2021-07-14 Sold (Public Records) $250,000 Public Records
• 2021-06-30 Sold (MLS) $250,000 BRIGHT MLS
• 2021-05-06 Pending — BRIGHT MLS
• 2021-05-04 Listed $229,000 BRIGHT MLS
• 1986-10-24 Sold (Public Records) $9,200 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,188 · -4.8% YoY. Source: county tax records.