214 Magnolia Dr · Millsboro, DE 19966

$239,999

2 bd · 2.0 ba · 1,020 sqft · SingleFamily public records · 88 Days on market

Built 1992 3,049 sqft lot $235/sqft · 6% below area Est $255k · 6% under $33/mo HOA · 2% of rent

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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 +14.0/30.0
• ARV discount +10.2/15.0
• DSCR +4.3/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Magnolia Meadows just outside downtown Millsboro! This coastal-style twin ranch offers 2BR/2BR, a 1-car garage, and a low maintenance living with an HOA of only $400/year. Features include LVP flooring throughout, a renovated kitchen with white shaker cabinets, stainless steel appliances, and modern countertops. The living room provides a comfortable layout & opens directly to the sunroom, allowing natural light to pour in. Fenced in backyard with deck and attached shed. Spacious primary suite with updated bath & walk-in shower; second bedroom & full hall bath on opposite side. Great value near the beach!

Key facts

• $33 HOA
• Garage
• Built 1992

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $32 ($387/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 $185k (22.8% below list).
• Recommended offer: $185k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.3% in Millsboro — 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 66/100 on livability (#44 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, cost of living B+; Watch: crime D-, amenities D-, commute 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: East Millsboro Elementary School (math 24% / reading 40%, grade F, #44 of 105 statewide, top 46%, 815 students, 0% FRL); Millsboro Middle School (math 24% / reading 42%, grade F, #14 of 36 statewide, top 37%, 771 students, 0% FRL); Sussex Central High School (math 23% / reading 42%, grade F, #24 of 40 statewide, top 59%, 2,039 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.
• Market conditions: 870 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 $2k of loan paydown is wiped out by about $7k 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 88 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $138k; list at $240k implies a 73% gain — meaningful room to come down on a strong offer.

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 $185,302 (22.8% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.77% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 10.8

CMA / ARV

• ARV (median comp): $255,149
• List price: $239,999
• Delta: -5.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Marie Ct	0.24mi	2/2.0	1,064 (+4%)	14mo	$68,900	$65	70
13 Scott Dr	0.34mi	2/2.0	980 (-4%)	14mo	$61,000	$62	66
3 Marie Ct #55759	0.29mi	3/2.0 (+1)	1,120 (+10%)	1mo	$92,500	$83	64
21 Kyle Cir #45427	0.24mi	3/2.0 (+1)	1,132 (+11%)	10mo	$109,900	$97	57
405 Union St	0.27mi	3/1.0 (+1)	960 (-6%)	21mo	$80,000	$83	51
241 W Church St	0.64mi	2/2.0	960 (-6%)	12mo	$280,000	$292	51
109 Laurel Rd	0.59mi	2/1.0	928 (-9%)	21mo	$280,000	$302	36
337 Grace St	0.49mi	3/1.0 (+1)	1,144 (+12%)	22mo	$290,000	$253	29

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-36,949
• Equity at exit: $35,785

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-29,984
• Equity at exit: $20,751

Cash invested: $67,200 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 870
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,853 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$100
• HOA: −$33
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $32

Break-even live

Break-even rent $1,812

Max offer price $239,999

Occupancy floor 93%

Sensitivity live

Price	-10% $168	-5% $100	+0% $32	+5% $-311	+10% $-394
Rent	-10% $-114	-5% $-41	+0% $32	+5% $105	+10% $179
Rate	-1.0pp $153	-0.5pp $93	base $32	+0.5pp $-30	+1.0pp $-93

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 20 events

1. 2026-06-21
   days on market $239,999 Active 88 DOM
2. 2026-06-18
   days on market $239,999 Active 85 DOM
3. 2026-06-17
   days on market $239,999 Active 84 DOM
4. 2026-06-16
   days on market $239,999 Active 83 DOM
5. 2026-06-15
   days on market $239,999 Active 82 DOM
6. 2026-06-14
   days on market $239,999 Active 80 DOM
7. 2026-06-13
   days on market $239,999 Active 79 DOM
8. 2026-06-10
   pricedays on market $239,999 Active 77 DOM
9. 2026-06-09
   days on market $249,999 Active 76 DOM
10. 2026-06-08
    days on market $249,999 Active 75 DOM
11. 2026-06-07
    days on market $249,999 Active 74 DOM
12. 2026-06-02
    days on market $249,999 Active 69 DOM
13. 2026-06-01
    days on market $249,999 Active 68 DOM
14. 2026-05-31
    days on market $249,999 Active 67 DOM
15. 2026-05-30
    days on market $249,999 Active 66 DOM
16. 2026-05-19
    price $249,999 641-char remark

    Show marketing remark (641 chars)

    Welcome to Magnolia Meadows just outside downtown Millsboro! This coastal-style twin ranch offers 2BR/2BR, a 1-car garage, and a low maintenance living with an HOA of only $400/year. Features include LVP flooring throughout, a renovated kitchen with white shaker cabinets, stainless steel appliances, and modern countertops. The living room provides a comfortable layout & opens directly to the sunroom, allowing natural light to pour in. Fenced in backyard with deck and attached shed. Spacious primary suite with updated bath & walk-in shower; second bedroom & full hall bath on opposite side. Great value near the beach!

17. 2026-03-25
    listed $259,999 Active 641-char remark

    Show marketing remark (641 chars)

    Welcome to Magnolia Meadows just outside downtown Millsboro! This coastal-style twin ranch offers 2BR/2BR, a 1-car garage, and a low maintenance living with an HOA of only $400/year. Features include LVP flooring throughout, a renovated kitchen with white shaker cabinets, stainless steel appliances, and modern countertops. The living room provides a comfortable layout & opens directly to the sunroom, allowing natural light to pour in. Fenced in backyard with deck and attached shed. Spacious primary suite with updated bath & walk-in shower; second bedroom & full hall bath on opposite side. Great value near the beach!

18. 2026-03-24
    historical $259,999 641-char remark

    Show marketing remark (641 chars)

    Welcome to Magnolia Meadows just outside downtown Millsboro! This coastal-style twin ranch offers 2BR/2BR, a 1-car garage, and a low maintenance living with an HOA of only $400/year. Features include LVP flooring throughout, a renovated kitchen with white shaker cabinets, stainless steel appliances, and modern countertops. The living room provides a comfortable layout & opens directly to the sunroom, allowing natural light to pour in. Fenced in backyard with deck and attached shed. Spacious primary suite with updated bath & walk-in shower; second bedroom & full hall bath on opposite side. Great value near the beach!

19. 2022-09-14
    soldstatus $138,500
20. 2002-01-25
    soldstatus $85,000

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $936 · $78/mo
• Expected delta: +$456/yr (+$38/mo · 94.7%)

ⓘ 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 ≥103°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: $22,236
• − Mortgage interest: −$13,444
• − Property taxes: −$481
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − HOA: −$396
• − Depreciation: −$6,982
• Taxable loss: −$3,824
• Est. tax savings @ 24.0%: +$918
• After-tax cash flow: $1,305/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 — Millsboro

• Score: 66/100
• State rank: #44
• US rank: #12135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millsboro, DE
• County: Sussex County · 82,708 people
• City population: 35,884
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 464.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 8% Two or more races 7% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -18.26%
• Current HPI: 268.5609
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

+194.1% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $249,999 BRIGHT MLS
• 2026-03-25 Listed $259,999 BRIGHT MLS
• 2026-03-24 Coming Soon $259,999 BRIGHT MLS
• 2022-09-14 Sold (Public Records) $138,500 Public Records
• 2002-01-25 Sold (Public Records) $85,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $481 · -18.3% YoY. Source: county tax records.