26114 Redwing Ct · Long Neck, DE 19966

$115,500

3 bd · 2.0 ba · 1,300 sqft · SingleFamily · 52 Days on market

Built 1996 Good condition $89/sqft · 42% above area Est $81k · 42% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market at no fault of the Sellers. Time is now to get your beach home for the summer. This 3-bedroom, 2-bathroom doublewide home offers comfort and an incredible value! This well-maintained home on a cul-de-sac has beautiful LVP floors, dry walled walls, nice layout, deck, large yard, shed and nice yard. The new HVAC was installed in 2025, water heater 2021 and roof was installed in 2016. You will love the size of the rooms as well as the beautiful bathrooms. This gated community offers a community beach, swimming pool, a fishing /crabbing per and a playground. This great home is priced to sell!

Key facts

• Community pool
• Built 1996
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $116k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 3.2% in Long Neck — 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 69/100 on livability (#30 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, schools F, amenities 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.
• Market conditions: 865 active listings in the ZIP; 1 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 34% of the median local income ($78k/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 $799 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 + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $112,035 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.95% ✓
• Cap rate: 16.46%
• Cash-on-cash: 36.30%
• DSCR: 2.62
• GRM: 4.3

CMA / ARV

• ARV (median comp): $81,167
• List price: $115,500
• Delta: 42.30%
• 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
26013 Seagull Ln #48469	0.13mi	3/2.0	1,344 (+3%)	1mo	$90,000	$67	88
26322 Portside Ln	0.35mi	3/2.0	1,264 (-3%)	7mo	$170,000	$134	73
26221 Cove Dr	0.51mi	3/2.0	1,296 (-0%)	4mo	$205,000	$158	72
35262 7th St	0.12mi	2/2.0 (-1)	1,132 (-13%)	0mo	$98,000	$87	67
35434 Pine Dr	0.40mi	3/2.0	1,396 (+7%)	3mo	$106,500	$76	66
35539 Pine Dr	0.45mi	3/2.0	1,216 (-6%)	4mo	$93,500	$77	64
34995 Keelson St Unit E-274	0.53mi	3/2.0	1,232 (-5%)	3mo	$158,500	$129	64
34848 Halyard St Unit E-431	0.56mi	3/2.0	1,366 (+5%)	5mo	$273,176	$200	61
25950 S Maple St	0.43mi	4/1.5 (+1)	1,216 (-6%)	6mo	$51,000	$42	57
25861 Mahogany St	0.63mi	4/2.0 (+1)	1,360 (+5%)	2mo	$107,500	$79	56
25841 N Cherry St #4382	0.45mi	3/1.0	1,176 (-10%)	4mo	$52,250	$44	56
35518 Joann Dr #137	0.42mi	2/— (-1)	1,484 (+14%)	3mo	$138,000	$93	50

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: 11.4%
• Equity multiple: 1.45×
• Total profit: $14,580
• Equity at exit: $17,221

10-year hold

• IRR: 20.5%
• Equity multiple: 2.75×
• Total profit: $56,449
• Equity at exit: $9,986

Cash invested: $32,340 (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: 865
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,249 medium
• Mortgage (P&I): −$606
• Tax est. 1.5%: −$144 /mo · $1,732/yr
• Insurance: −$48
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $518

Break-even live

Break-even rent $1,593

Max offer price $115,500

Occupancy floor 72%

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	0.57mi

Listing history 23 events

1. 2026-06-18
   price $115,500 Active 52 DOM
2. 2026-06-18
   days on market $117,750 Active 52 DOM
3. 2026-06-17
   days on market $117,750 Active 51 DOM
4. 2026-06-16
   days on market $117,750 Active 50 DOM
5. 2026-06-15
   days on market $117,750 Active 49 DOM
6. 2026-06-14
   days on market $117,750 Active 47 DOM
7. 2026-06-13
   days on market $117,750 Active 46 DOM
8. 2026-06-10
   days on market $117,750 Active 44 DOM
9. 2026-06-09
   days on market $117,750 Active 43 DOM
10. 2026-06-08
    days on market $117,750 Active 42 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    pricedays on market $117,750 Active 41 DOM
13. 2026-06-02
    days on market $119,995 Active 36 DOM
14. 2026-06-01
    days on market $119,995 Active 35 DOM
15. 2026-05-31
    days on market $119,995 Active 34 DOM
16. 2026-05-30
    days on market $119,995 Active 33 DOM
17. 2026-04-27
    status Active 617-char remark

    Show marketing remark (617 chars)

    Back on the market at no fault of the Sellers. Time is now to get your beach home for the summer. This 3-bedroom, 2-bathroom doublewide home offers comfort and an incredible value! This well-maintained home on a cul-de-sac has beautiful LVP floors, dry walled walls, nice layout, deck, large yard, shed and nice yard. The new HVAC was installed in 2025, water heater 2021 and roof was installed in 2016. You will love the size of the rooms as well as the beautiful bathrooms. This gated community offers a community beach, swimming pool, a fishing /crabbing per and a playground. This great home is priced to sell!

18. 2026-04-14
    listed $124,500 617-char remark

    Show marketing remark (617 chars)

    Back on the market at no fault of the Sellers. Time is now to get your beach home for the summer. This 3-bedroom, 2-bathroom doublewide home offers comfort and an incredible value! This well-maintained home on a cul-de-sac has beautiful LVP floors, dry walled walls, nice layout, deck, large yard, shed and nice yard. The new HVAC was installed in 2025, water heater 2021 and roof was installed in 2016. You will love the size of the rooms as well as the beautiful bathrooms. This gated community offers a community beach, swimming pool, a fishing /crabbing per and a playground. This great home is priced to sell!

19. 2026-04-14
    historical 617-char remark

    Show marketing remark (617 chars)

    Back on the market at no fault of the Sellers. Time is now to get your beach home for the summer. This 3-bedroom, 2-bathroom doublewide home offers comfort and an incredible value! This well-maintained home on a cul-de-sac has beautiful LVP floors, dry walled walls, nice layout, deck, large yard, shed and nice yard. The new HVAC was installed in 2025, water heater 2021 and roof was installed in 2016. You will love the size of the rooms as well as the beautiful bathrooms. This gated community offers a community beach, swimming pool, a fishing /crabbing per and a playground. This great home is priced to sell!

20. 2025-04-22
    historical
21. 2025-04-04
    listed $139,900 Active
22. 2022-04-19
    listed $121,500
23. 2022-04-19
    historical

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,983
• − Mortgage interest: −$6,470
• − Property taxes: −$1,732
• − Insurance: −$6,102
• − Repairs & maintenance: −$2,159
• − Management: −$2,159
• − Depreciation: −$3,360
• Taxable income: $5,001
• Est. tax owed @ 24.0%: −$1,200
• After-tax cash flow: $5,013/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 · 10 photos

Good 75/100 Cosmetic rehab

This well-maintained, 3-bedroom doublewide home on a cul-de-sac offers a great value with a new roof, HVAC, and water heater. It's ready for a new owner to make it their own.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale replace window screens — improves energy efficiency and aesthetics
• Resale update kitchen appliances — modernizes the space
• Resale install new flooring in bathrooms — enhances overall look
• Resale update paint color scheme — creates a fresh and inviting atmosphere

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale replace window screens — improves energy efficiency and aesthetics ↑
• Resale update kitchen appliances — modernizes the space ↑
• Resale install new flooring in bathrooms — enhances overall look ↑
• Resale update paint color scheme — creates a fresh and inviting atmosphere ↑

ⓘ 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: 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 — Long Neck

• Score: 69/100
• State rank: #30
• US rank: #8720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• 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

+2.5% since first listed

7 events — show timeline

• 2026-04-27 Relisted — BRIGHT MLS
• 2026-04-14 Listing Removed — BRIGHT MLS
• 2026-04-14 Listed $124,500 BRIGHT MLS
• 2025-04-22 Listing Removed — BRIGHT MLS
• 2025-04-04 Listed $139,900 BRIGHT MLS
• 2022-04-19 Listing Removed — BRIGHT MLS
• 2022-04-19 Listed $121,500 BRIGHT MLS