25983 S Cedar St · Long Neck, DE 19966

$155,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 27 Days on market

Built 1991 Est $163k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• 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

Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

Key facts

• Metal roof
• Large front porch
• Private beach

Tags

• CANAL VIEWS
• LARGE FRONT PORCH
• REAR DECK
• FENCED BACKYARD
• METAL ROOF
• PRIVATE BEACH

Property features AI

Finance

• Other: Located in a federal flood zone; Pets allowed (cats and dogs OK)
• Financial info: Land lease: $926 per month; Land lease years remaining: 1
• HOA & community: Monthly land lease payment

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric power for cooling and hot water
• Home design: Manufactured home (double wide); Land lease ownership
• Construction: Vinyl siding; Modular/manufactured construction; Metal roof; Pillar/post/pier foundation; Double wide manufactured home; Make: PIGR
• Exterior features: Has water view; Above-grade and below-grade other structures; Property managed (property manager present)

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning (electric); Electric hot water
• Interior features: Ramp to main level; No basement; Living area reported by assessor; Water view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; 2 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 37% 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 $1k of loan paydown is wiped out by about $5k 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 27 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $155k implies a 288% gain — meaningful room to come down on a strong offer.

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 $152,675 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.56% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.19%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $163,072
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25869 N Pine St	0.07mi	4/2.0 (+1)	1,568 (0%)	1mo	$145,500	$93	91
35476 Bayview Ln #4147	0.23mi	3/2.0	1,400 (-11%)	17mo	$146,000	$104	57

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-706
• Equity at exit: $23,111

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $31,704
• Equity at exit: $13,402

Cash invested: $43,400 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,418 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $378

Break-even live

Break-even rent $1,939

Max offer price $155,000

Occupancy floor 79%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35805 S Gloucester Cir Millsboro, DE	3.0	2.5	2100	$2,300	$1.10	43d	1	0.68mi
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	0.70mi

Listing history 20 events

1. 2026-06-18
   days on market $155,000 Active 27 DOM
2. 2026-06-17
   days on market $155,000 Active 26 DOM
3. 2026-06-16
   days on market $155,000 Active 25 DOM
4. 2026-06-15
   days on market $155,000 Active 24 DOM
5. 2026-06-14
   days on market $155,000 Active 22 DOM
6. 2026-06-13
   days on market $155,000 Active 21 DOM
7. 2026-06-10
   days on market $155,000 Active 19 DOM
8. 2026-06-09
   days on market $155,000 Active 18 DOM
9. 2026-06-08
   days on market $155,000 Active 17 DOM
10. 2026-06-07
    pricedays on market $155,000 Active 16 DOM
11. 2026-06-02
    days on market $159,900 Active 11 DOM
12. 2026-06-01
    days on market $159,900 Active 10 DOM
13. 2026-05-31
    days on market $159,900 Active 9 DOM
14. 2026-05-30
    days on market $159,900 Active 8 DOM
15. 2026-05-22
    listed $159,900 Active
16. 2016-10-14
    soldstatus $40,000 772-char remark

    Show marketing remark (772 chars)

    Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

17. 2016-10-14
    historical

    Show marketing remark (772 chars)

    Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

18. 2016-08-27
    historical 772-char remark

    Show marketing remark (772 chars)

    Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

19. 2016-03-17
    listed $42,444 772-char remark

    Show marketing remark (772 chars)

    Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

20. 2016-03-17
    listed $42,444

    Show marketing remark (772 chars)

    Check out the view from the front porch of this beauty. If you can pay cash for this mobile it is in a community with lot rent of 8000 per year, add a boat slip for 700 per year and you can be playing in the Rehoboth bay for under 9000 per year. You can walk out your door to your boat and enjoy water views. Parking for 5 cars and or toys! Your boat can be stored in the yard. Beautiful waterfront community. Lovely three bedroom, two bath home. Home shows pride of ownership. New thermopane windows in 2014. 12 x 24 shed with electric. Large deck, 12 x 16. Newer heat and A/C. Community amenities. Boat dock and slips, ramp and outdoor tennis. Check out this awesome double wide today!Tell your friends and maybe one of them will buy it and you can hang out with them.

ⓘ 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 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: $29,010
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$6,300
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − Depreciation: −$4,509
• Taxable income: $2,552
• Est. tax owed @ 24.0%: −$613
• After-tax cash flow: $3,927/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

+276.7% since first listed

6 events — show timeline

• 2026-05-22 Listed $159,900 BRIGHT MLS
• 2016-10-14 Listing Removed — BRIGHT MLS
• 2016-10-14 Sold (MLS) $40,000 BRIGHT MLS
• 2016-08-27 Listing Removed — BRIGHT MLS
• 2016-03-17 Listed $42,444 BRIGHT MLS
• 2016-03-17 Listed $42,444 BRIGHT MLS

Property tax history

-4.2%/yr

Latest (2025): $310 · -32.8% YoY. Source: county tax records.