19980 Center Ave Unit C86 · Rehoboth Beach, DE 19971

$149,995

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 114 Days on market

Built 2026 Excellent condition $134/sqft · 78% above area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMING SOON! NOW ACCEPTING DEPOSITS! Be the first to call this stunning, brand-new manufactured home your own. Offering three spacious bedrooms and two full bathrooms, the home features an open floor plan filled with natural light and stylish finishes throughout. Luxury vinyl flooring runs seamlessly across the main living areas, while the sleek kitchen is fully outfitted with energy-star stainless steel appliances, a gas stove, elegant hardwood cabinetry, and a generous island perfect for both cooking and entertaining. A separate laundry room comes complete with a washer and dryer, giving you added storage and functionality. The expansive primary suite is your private escape, featuring two closets and a spa-like en-suite bath with a luxurious soaking tub perfect for relaxing after a day at the beach. This home is built with energy efficiency in mind, offering a smart thermostat, solar-ready electric, upgraded utilities, and modern hardscaping. Outside, you'll find a new driveway and sidewalk, storm doors, door-side gutters, and a matching 8x10 shed for your storage needs. For added peace of mind, the home includes a 1-year manufacturer warranty plus a 6-year extended warranty. Located in a vibrant beach community just two miles from Rehoboth Beach, you'll enjoy resort-style amenities including two pools, a dog park, picnic pavilion with BBQs, a playground, and a bathhouse. The home is perfectly positioned across from shopping, dining, and the state trail system, putting e

Key facts

• Open floor plan
• Solar ready electric
• New driveway

Tags

• OPEN FLOOR PLAN
• ENERGY STAR APPLIANCES
• LUXURIOUS SOAKING TUB
• SMART THERMOSTAT
• SOLAR READY ELECTRIC
• NEW DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 1.1% in Rehoboth Beach — 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 71/100 on livability (#20 in DE) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, employment A+; Watch: crime F, commute F, cost of living F.
• Cape Henlopen School District (town): math 42% / reading 55% proficiency, ranked #5 of 26 in DE (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 331 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k 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 $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

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 $136,495 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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. 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: 1.68% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.13%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $84,200
• List price: $149,995
• Delta: 78.14%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20005 Atlantic Ave	0.14mi	3/2.0	1,200 (+7%)	13mo	$151,000	$126	71
19900 Sea Air Ave Unit A-66	0.08mi	2/1.0 (-1)	1,150 (+3%)	16mo	$58,000	$50	69
20013 Atlantic Ave #3399	0.25mi	3/2.0	1,200 (+7%)	10mo	$130,290	$109	68
19627 Queen St #22	0.45mi	3/2.0	980 (-12%)	2mo	$58,000	$59	57
19606 Queen St #31	0.49mi	3/2.0	1,288 (+15%)	2mo	$63,400	$49	51
36122 Knight St	0.53mi	2/2.0 (-1)	956 (-15%)	2mo	$105,000	$110	44

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: 21.1%
• Equity multiple: 1.86×
• Total profit: $36,210
• Equity at exit: $22,365

10-year hold

• IRR: 29.3%
• Equity multiple: 3.61×
• Total profit: $109,559
• Equity at exit: $12,969

Cash invested: $41,999 (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 19971

• Active inventory: 331
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,514 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $950

Break-even live

Break-even rent $1,312

Max offer price $149,995

Occupancy floor 57%

Sensitivity live

Price	-10% $1,053	-5% $1,001	+0% $950	+5% $898	+10% $846
Rent	-10% $751	-5% $850	+0% $950	+5% $1,049	+10% $1,148
Rate	-1.0pp $1,025	-0.5pp $988	base $950	+0.5pp $911	+1.0pp $871

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: $37,499
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36400 Warwick Dr Rehoboth Beach, DE	3.0	2.5	792	$3,500	$4.42	45d	1	0.62mi
3500 Sanibel Cir #3516 Rehoboth Beach, DE	2.0	2.0	1150	$2,000	$1.74	22d	1	0.82mi
3300 Sanibel Cir #3301 Rehoboth Beach, DE	3.0	2.0	1395	$2,100	$1.51	45d	1	0.89mi
107 Strawberry Way Rehoboth Beach, DE	3.0	2.0	1025	$2,750	$2.68	45d	1	0.91mi
35948 Haven Dr #201 Rehoboth Beach, DE	2.0	2.0	858	$1,800	$2.10	22d	1	1.06mi
300 Pebble Dr #318 Rehoboth Beach, DE	2.0	2.0	940	$1,800	$1.91	22d	1	1.13mi
32015 Azure Ave Rehoboth Beach, DE	1.0–3.0	1.0–2.0	1054	$2,375	$2.25	45d	1	1.45mi

Listing history 12 events

1. 2026-06-13
   days on market $149,995 Active 114 DOM
2. 2026-06-10
   pricedays on market $149,995 Active 112 DOM
3. 2026-06-09
   days on market $159,995 Active 111 DOM
4. 2026-06-08
   days on market $159,995 Active 110 DOM
5. 2026-06-07
   days on market $159,995 Active 109 DOM
6. 2026-06-05
   days on market $159,995 Active 106 DOM
7. 2026-06-03
   days on market $159,995 Active 105 DOM
8. 2026-06-02
   days on market $159,995 Active 104 DOM
9. 2026-06-01
   days on market $159,995 Active 103 DOM
10. 2026-05-31
    days on market $159,995 Active 102 DOM
11. 2026-05-30
    days on market $159,995 Active 101 DOM
12. 2026-02-18
    listed $159,995 Active 1497-char remark

    Show marketing remark (1497 chars)

    COMING SOON! NOW ACCEPTING DEPOSITS! Be the first to call this stunning, brand-new manufactured home your own. Offering three spacious bedrooms and two full bathrooms, the home features an open floor plan filled with natural light and stylish finishes throughout. Luxury vinyl flooring runs seamlessly across the main living areas, while the sleek kitchen is fully outfitted with energy-star stainless steel appliances, a gas stove, elegant hardwood cabinetry, and a generous island perfect for both cooking and entertaining. A separate laundry room comes complete with a washer and dryer, giving you added storage and functionality. The expansive primary suite is your private escape, featuring two closets and a spa-like en-suite bath with a luxurious soaking tub perfect for relaxing after a day at the beach. This home is built with energy efficiency in mind, offering a smart thermostat, solar-ready electric, upgraded utilities, and modern hardscaping. Outside, you'll find a new driveway and sidewalk, storm doors, door-side gutters, and a matching 8x10 shed for your storage needs. For added peace of mind, the home includes a 1-year manufacturer warranty plus a 6-year extended warranty. Located in a vibrant beach community just two miles from Rehoboth Beach, you'll enjoy resort-style amenities including two pools, a dog park, picnic pavilion with BBQs, a playground, and a bathhouse. The home is perfectly positioned across from shopping, dining, and the state trail system, putting e

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $30,169
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,414
• − Management: −$2,414
• − Depreciation: −$4,363
• Taxable income: $9,577
• Est. tax owed @ 24.0%: −$2,298
• After-tax cash flow: $9,096/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

Excellent 100/100 None rehab

This brand-new manufactured home is move-in ready with excellent condition and no visible repairs needed. It offers a spacious floor plan, energy-efficient appliances, and a well-maintained exterior. Updates such as painting and new flooring can further enhance its value.

Value-add opportunities

• Both Painting — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping — Enhances curb appeal and can increase property value
• Resale New flooring in bathrooms — High-end flooring can attract more buyers
• Resale New countertops in kitchen — Modern countertops can increase the home's appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping — Enhances curb appeal and can increase property value ↑
• Resale New flooring in bathrooms — High-end flooring can attract more buyers ↑
• Resale New countertops in kitchen — Modern countertops can increase the home's appeal ↑

ⓘ 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: Cape Henlopen School District
• NCES district ID: 1000170
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $60,196
• Composite: 42.47/100
• National rank: #3214
• State rank: #5 of 26 in DE

Livability — Rehoboth Beach

• Score: 71/100
• State rank: #20
• US rank: #6520

Category grades

Amenities A+ Commute F Cost of living F Crime F Employment A+ Housing B- Health & safety A+ 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): 14,886
• Household income: $102,146
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 317.0

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 (88%)
• Race & ethnicity: White 88% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▼ -220.39%
• Current HPI: 353.3977
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-18 Listed $159,995 Zillow