28467 Wynikako Ave · Long Neck, DE 19966

$127,500

3 bd · 2.0 ba · 1,240 sqft · Other · 88 Days on market

Built 2017 Poor condition 6,534 sqft lot $103/sqft · 30% above area Est $98k · 30% over ↓ 15% since listing

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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
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

Key facts

• 6,534 sq ft lot
• 4 parking spots
• Built 2017

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $128k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 $882 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• 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 $119,850 (6.0% 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 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.75% ✓
• Cap rate: 14.58%
• Cash-on-cash: 29.60%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (median comp): $97,933
• List price: $127,500
• Delta: 30.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.9%
• Equity multiple: 1.89×
• Total profit: $31,948
• Equity at exit: $19,011

10-year hold

• IRR: 29.9%
• Equity multiple: 3.68×
• Total profit: $95,750
• Equity at exit: $11,024

Cash invested: $35,700 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,230 medium
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $825

Break-even live

Break-even rent $1,186

Max offer price $127,500

Occupancy floor 58%

Sensitivity live

Price	-10% $913	-5% $869	+0% $825	+5% $781	+10% $737
Rent	-10% $649	-5% $737	+0% $825	+5% $913	+10% $1,001
Rate	-1.0pp $889	-0.5pp $857	base $825	+0.5pp $792	+1.0pp $758

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29266 Honeysuckle Knl Millsboro, DE	3.0	1.0	1152	$1,900	$1.65	22d	1	1.37mi

Listing history 21 events

1. 2026-06-18
   days on market $127,500 Active 88 DOM
2. 2026-06-17
   days on market $127,500 Active 87 DOM
3. 2026-06-16
   days on market $127,500 Active 86 DOM
4. 2026-06-15
   days on market $127,500 Active 85 DOM
5. 2026-06-14
   days on market $127,500 Active 83 DOM
6. 2026-06-13
   days on market $127,500 Active 82 DOM
7. 2026-06-10
   days on market $127,500 Active 80 DOM
8. 2026-06-09
   days on market $127,500 Active 79 DOM
9. 2026-06-08
   days on market $127,500 Active 78 DOM
10. 2026-06-07
    days on market $127,500 Active 77 DOM
11. 2026-06-02
    days on market $127,500 Active 72 DOM
12. 2026-06-01
    days on market $127,500 Active 71 DOM
13. 2026-05-31
    days on market $127,500 Active 70 DOM
14. 2026-05-30
    days on market $127,500 Active 69 DOM
15. 2026-05-13
    price $127,500 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

16. 2026-04-28
    price $129,990 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

17. 2026-04-16
    price $135,000 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

18. 2026-04-02
    price $139,900 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

19. 2026-03-28
    price $144,900 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

20. 2026-03-23
    listed $150,000 Active 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

21. 2026-03-18
    historical $150,000 1530-char remark

    Show marketing remark (1530 chars)

    NOW reduced and Lot Rent Paid by seller until the end of the year!!! Buyer to enjoy this home without having to pay lease land until Dec 31st 2026!!! 2017 beautiful oversized single wide with added on screened porch and extremely low lot rent of $375 a month. The home features a large side porch, front porch, one shed, outdoor shower, side fenced yard & a boat port. The home is well maintained, has LVP flooring, nice open floor plan, great size bedrooms and nice kitchen. Last year taxes were $213. Current owners pay the yearly lease ahead: rent in full was $4227and if paid monthly it is 377$ or $4527 total for the year. Selling partially furnished. Riverdale Park is located on Indian River and features a private beach, fishing pier and two public boat ramps. The community is a short drive to beaches, bayfront restaurants, bars, and shopping. You can avoid the Rt. 1 traffic and stay right in the Long Neck area. Purchase based upon park approval. Park application for residency includes background check, credit check, and verification of income. As a resident, you will have access to a private beach, fishing pier, and boat ramp, making it a paradise for water enthusiasts. Riverdale Park has some of the lowest lot rents in the area. Situated close to restaurants, bars, and shopping, as well as the pristine Delaware beaches, this home offers the perfect blend of relaxation and convenience. Don't miss out on the opportunity to make this your own slice of paradise – schedule a private showing today!

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 85% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°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: $26,759
• − Mortgage interest: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$1,304
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − Depreciation: −$3,709
• Taxable income: $8,410
• Est. tax owed @ 24.0%: −$2,018
• After-tax cash flow: $7,881/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the exterior, roof, windows, and interior. Significant updates are needed to improve its condition and value.

Repairs flagged

• Major exterior siding — Decayed and peeling
• Major roof — Missing shingles and visible damage
• Major windows — Cracked and broken frames
• Major interior walls/paint — Peeling and stained
• Major HVAC/mechanicals — No photos of the HVAC/mechanicals

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and structural integrity
• Both roof repair/replacement — Fixes major structural issue and improves safety
• Both window replacement — Enhances energy efficiency and safety
• Both interior painting — Improves aesthetics and value
• Both HVAC upgrade — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Decayed and peeling	Major	$15,000–50,000
roof · Missing shingles and visible damage	Major	$15,000–50,000
windows · Cracked and broken frames	Major	$15,000–50,000
interior walls/paint · Peeling and stained	Major	$15,000–50,000
HVAC/mechanicals · No photos of the HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and structural integrity ↑
• Both roof repair/replacement — Fixes major structural issue and improves safety ↑
• Both window replacement — Enhances energy efficiency and safety ↑
• Both interior painting — Improves aesthetics and value ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑

ⓘ 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

-15.0% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $127,500 BRIGHT MLS
• 2026-04-28 Price Changed $129,990 BRIGHT MLS
• 2026-04-16 Price Changed $135,000 BRIGHT MLS
• 2026-04-02 Price Changed $139,900 BRIGHT MLS
• 2026-03-28 Price Changed $144,900 BRIGHT MLS
• 2026-03-23 Listed $150,000 BRIGHT MLS
• 2026-03-18 Coming Soon $150,000 BRIGHT MLS