4 Mayfair Ln Unit MAY004 · Lewes, DE 19958

$219,000

3 bd · 2.0 ba · 1,624 sqft · Manufactured · 42 Days on market

Built 2026 Good condition $135/sqft · 57% above area

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * Sussex West is an active and exciting 55+ Senior Community. Manufactured in 2000 this well-kept home has curb appeal and a private patio for your enjoyment. Open the door to the curvy archways and a Euro feel inside, featuring a neutral color palette with luxury vinyl plank flooring in the main living areas, a spacious living room, formal dining room, breakfast nook and kitchen with prep island, skylights and appliances including a new gas stove. The primary ensuite bedroom is located at the rear of the home and offers a roomy walk-in closet and connecting ensuite bath with dual sinks, a soaking tub and walk-in shower. Completing the floor plan is a second be

Key facts

• Pickleball court
• Horseshoe court
• Swimming pool

Tags

• PICKLEBALL COURT
• SWIMMING POOL
• HORSESHOE COURT

Property features AI

Finance

• Other: Address: 4 Mayfair Ln Unit MAY004, Lewes, DE 19958; Listing provided by Zillow; information deemed reliable but not guaranteed
• Financial info: List price reported (buyer to verify)

Exterior

• Utilities: Natural gas; Central air
• Home design: Spec inventory, Plan 86615; Active listing status
• Exterior features: Living area approximately 1,624 (living area reported)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 2 full bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $219k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 1.7% in Lewes — 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 67/100 on livability (#40 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: 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: Rents flat; 818 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 32% of the median local income ($97k/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 $2k of loan paydown is wiped out by about $7k 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 42 days — a 3% lower offer ($212k) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
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: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.30%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $139,808
• List price: $219,000
• Delta: 56.64%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31702 Siham Rd #2339	0.61mi	3/2.0	1,524 (-6%)	22mo	$130,000	$85	43

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.88×
• Total profit: $-7,578
• Equity at exit: $32,654

10-year hold

• IRR: 3.6%
• Equity multiple: 1.24×
• Total profit: $14,503
• Equity at exit: $18,935

Cash invested: $61,320 (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 19958

• Rents YoY: 0.8%
• Active inventory: 818
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,582 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $527

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 75%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20141 Riesling Ln #306 Lewes, DE	2.0	2.0	1600	$2,600	$1.62	43d	1	0.64mi
24258 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	43d	1	0.68mi
12001 Old Vine Blvd Lewes, DE	1.0–2.0	1.0–2.0	987	$3,055	$3.10	13d	17	0.70mi
24238 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	43d	1	0.73mi
17010 Minos Conaway Rd Lewes, DE	3.0	2.0	1600	$2,500	$1.56	43d	1	0.99mi
17432 Slipper Shell Way #5 Lewes, DE	3.0	2.0	1840	$2,150	$1.17	20d	1	1.34mi
18 Greystone Dr Lewes, DE	3.0	2.5	2114	$2,875	$1.36	20d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $219,000 Active 42 DOM
2. 2026-06-17
   days on market $219,000 Active 41 DOM
3. 2026-06-16
   days on market $219,000 Active 40 DOM
4. 2026-06-15
   days on market $219,000 Active 39 DOM
5. 2026-06-14
   days on market $219,000 Active 37 DOM
6. 2026-06-13
   days on market $219,000 Active 36 DOM
7. 2026-06-10
   days on market $219,000 Active 34 DOM
8. 2026-06-09
   days on market $219,000 Active 33 DOM
9. 2026-06-08
   days on market $219,000 Active 32 DOM
10. 2026-06-07
    days on market $219,000 Active 31 DOM
11. 2026-06-05
    days on market $219,000 Active 28 DOM
12. 2026-06-03
    days on market $219,000 Active 27 DOM
13. 2026-06-02
    days on market $219,000 Active 26 DOM
14. 2026-06-01
    days on market $219,000 Active 25 DOM
15. 2026-05-31
    days on market $219,000 Active 24 DOM
16. 2026-05-30
    days on market $219,000 Active 23 DOM
17. 2026-05-07
    listed $219,000 Active 1134-char remark

ⓘ 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 · 19 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: $30,988
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,479
• − Management: −$2,479
• − Depreciation: −$6,371
• Taxable income: $3,012
• Est. tax owed @ 24.0%: −$723
• After-tax cash flow: $5,596/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 · 30 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in Sussex West is move-in ready with good curb appeal and interior condition. It offers a good investment opportunity with potential for value enhancement through minor updates.

Value-add opportunities

• Resale Painting the exterior siding — Enhances curb appeal and can increase the home's value
• Resale Updating the kitchen backsplash — Modernizes the kitchen and can increase the home's value
• Resale Upgrading the flooring in the bathrooms — Enhances the overall aesthetic and can increase the home's value
• Resale Upgrading the lighting fixtures — Modernizes the home and can increase the home's value
• Resale Landscaping improvements — Enhances curb appeal and can increase the home's value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Enhances curb appeal and can increase the home's value ↑
• Resale Updating the kitchen backsplash — Modernizes the kitchen and can increase the home's value ↑
• Resale Upgrading the flooring in the bathrooms — Enhances the overall aesthetic and can increase the home's value ↑
• Resale Upgrading the lighting fixtures — Modernizes the home and can increase the home's value ↑
• Resale Landscaping improvements — Enhances curb appeal and can increase the home's value ↑

ⓘ 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 — Lewes

• Score: 67/100
• State rank: #40
• US rank: #11077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 31,938
• Metro: Salisbury, MD-DE
• Population (ZIP): 31,938
• Household income: $97,197
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 545.0

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% Two or more races 6% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Romanian 6% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -204.07%
• Current HPI: 299.0736
• Rent YoY: ▲ 0.77%
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0