25875 Plum St · Long Neck, DE 19966

$70,000

3 bd · 1.5 ba · 980 sqft · Manufactured · 97 Days on market

Built 1980 187 ac lot $71/sqft · 9% below area Est $77k · 9% under

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Why this score? — see what drove the B 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
• ARV discount +11.7/15.0
• 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 +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home! Ready to move in! Access to the Beach, and plenty of entertaining room. Great if you have a boat, or just the peace and serenity that this home provides- just bring your beach chairs. Move right in! This delightful home offers a warm and inviting atmosphere perfect for creating memories. With three spacious bedrooms and one and a half bathrooms, this home features a traditional floor plan that seamlessly combines comfort and functionality. The cozy eat-in kitchen is equipped with essential appliances, including a brand new, never used stainless steel microwave, refrigerator, and electric oven/range, making meal prep a breeze. Enjoy the convenience of main floor laundry washer and dryer, and the added comfort of window treatments throughout. Step outside to discover your own slice of paradise! The property boasts a generous lot with a private beach just a short stroll away, perfect for relaxing days by the water. The outdoor space features a deck, ideal for entertaining or enjoying peaceful evenings surrounded by nature. With views of lush gardens, trees, and the serene street, this home offers a tranquil escape from the hustle and bustle. Located in a friendly community with easy access to public transportation, this property is not just a home; it's a lifestyle. With ample parking available on the driveway, you’ll have plenty of space for guests. Embrace the beauty of Bay City and make this inviting home yours today!

Key facts

• Generous lot
• Ample parking
• Private beach

Tags

• ACCESS TO THE BEACH
• PRIVATE BEACH
• GENEROUS LOT
• DECK
• MAIN FLOOR LAUNDRY
• AMPLE PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.1% vs local median 3.3% 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+, amenities F, 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: Long Neck Elementary School (math 22% / reading 35%, grade F, #57 of 105 statewide, top 55%, 693 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).
• 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

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 $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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. 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. 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?
6. 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.
7. 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.
8. 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: 3.15% ✓
• Cap rate: 29.12%
• Cash-on-cash: 81.54%
• DSCR: 4.63
• GRM: 2.6

CMA / ARV

• ARV (median comp): $77,119
• List price: $70,000
• Delta: -9.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 51.6%
• Equity multiple: 3.27×
• Total profit: $44,428
• Equity at exit: $10,437

10-year hold

• IRR: 57.0%
• Equity multiple: 6.68×
• Total profit: $111,255
• Equity at exit: $6,052

Cash invested: $19,600 (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: 2.6×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$15 /mo · $183/yr
• Insurance: −$29
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $871

Break-even live

Break-even rent $1,104

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $911	-5% $891	+0% $871	+5% $852	+10% $832
Rent	-10% $697	-5% $784	+0% $871	+5% $959	+10% $1,046
Rate	-1.0pp $907	-0.5pp $889	base $871	+0.5pp $853	+1.0pp $835

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $70,000 Active 97 DOM
2. 2026-06-19
   price $70,000 Active 94 DOM
3. 2026-06-18
   days on market $75,000 Active 94 DOM
4. 2026-06-17
   days on market $75,000 Active 93 DOM
5. 2026-06-16
   days on market $75,000 Active 92 DOM
6. 2026-06-15
   days on market $75,000 Active 91 DOM
7. 2026-06-14
   days on market $75,000 Active 89 DOM
8. 2026-06-13
   days on market $75,000 Active 88 DOM
9. 2026-06-10
   days on market $75,000 Active 86 DOM
10. 2026-06-09
    days on market $75,000 Active 85 DOM
11. 2026-06-08
    days on market $75,000 Active 84 DOM
12. 2026-06-07
    days on market $75,000 Active 83 DOM
13. 2026-06-02
    days on market $75,000 Active 78 DOM
14. 2026-06-01
    days on market $75,000 Active 77 DOM
15. 2026-05-31
    days on market $75,000 Active 76 DOM
16. 2026-05-30
    days on market $75,000 Active 75 DOM
17. 2026-03-16
    listed $85,000 Active 1463-char remark

    Show marketing remark (1463 chars)

    Great home! Ready to move in! Access to the Beach, and plenty of entertaining room. Great if you have a boat, or just the peace and serenity that this home provides- just bring your beach chairs. Move right in! This delightful home offers a warm and inviting atmosphere perfect for creating memories. With three spacious bedrooms and one and a half bathrooms, this home features a traditional floor plan that seamlessly combines comfort and functionality. The cozy eat-in kitchen is equipped with essential appliances, including a brand new, never used stainless steel microwave, refrigerator, and electric oven/range, making meal prep a breeze. Enjoy the convenience of main floor laundry washer and dryer, and the added comfort of window treatments throughout. Step outside to discover your own slice of paradise! The property boasts a generous lot with a private beach just a short stroll away, perfect for relaxing days by the water. The outdoor space features a deck, ideal for entertaining or enjoying peaceful evenings surrounded by nature. With views of lush gardens, trees, and the serene street, this home offers a tranquil escape from the hustle and bustle. Located in a friendly community with easy access to public transportation, this property is not just a home; it's a lifestyle. With ample parking available on the driveway, you’ll have plenty of space for guests. Embrace the beauty of Bay City and make this inviting home yours today!

ⓘ 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: $183 · $15/mo
• Projected year-2 tax: $294 · $25/mo
• Expected delta: +$112/yr (+$9/mo · 61.1%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,480
• − Mortgage interest: −$3,921
• − Property taxes: −$183
• − Insurance: −$5,875
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$2,036
• Taxable income: $10,228
• Est. tax owed @ 24.0%: −$2,455
• After-tax cash flow: $8,002/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 — 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

1 event — show timeline

• 2026-03-16 Listed $85,000 BRIGHT MLS

Property tax history

-5.0%/yr

Latest (2025): $183 · -35.9% YoY. Source: county tax records.