33288 Arrowood Cv #2726 · Long Neck, DE 19966

$189,000

3 bd · 2.0 ba · 1,920 sqft · SingleFamily · 56 Days on market

Built 2001 Good condition $98/sqft · 7% above area Est $176k · 7% over

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• ARV discount +4.2/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your dream home in this stunning 1920 sq ft triple-wide residence, featuring 3 spacious bedrooms and 2 luxurious bathrooms. Step onto the expansive 48’ wide screened-in porch, where you can unwind while overlooking beautifully manicured gardens and a mature cherry tree. With convenient ramp access to both the side entrance and front deck, this home is designed for easy living. The large shed provides ample storage for your golf car and gardening tools, while the community pool is just a short stroll away, perfect for those sunny days. As you enter, you’re greeted by a formal living room ideal for welcoming guests or enjoying quiet evenings after a day at the beach. The heart of the home boasts an oversized living room with a cozy fireplace, vaulted ceilings, and abundant natural light. The chef’s kitchen is a dream come true, featuring a generous countertop with stools for casual conversations, an abundance of cabinets, and a dining nook for relaxed meals. For more formal gatherings, the elegant dining area shines with a stunning brass chandelier. Retreat to the spacious primary suite, complete with extra-large closets and a pampering ensuite that features a walk-in shower, soaking tub, and dual vanities, all enhanced by a luxurious chandelier. Two additional guest rooms and a well-appointed guest bath complete this inviting home. Nestled in the serene Lakeside community, surrounded by a picturesque six-acre lake, this residence offers modern coastal charm and access to a wealth of amenities, including scenic walking paths and a community pool, making it the perfect place to call home.

Key facts

• 4 parking spots
• Community pool
• Built 2001

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 $1k of loan paydown is wiped out by about $6k 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 56 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe 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 $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $176,152
• List price: $189,000
• Delta: 7.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26294 Creekwood Cir #2631	0.06mi	3/2.0	1,848 (-4%)	2mo	$208,000	$113	89
33361 Nannyberry Cv #2601	0.07mi	3/2.0	1,680 (-12%)	2mo	$166,000	$99	74
33424 Pinebark Cv #2625	0.36mi	3/2.0	1,820 (-5%)	1mo	$192,000	$105	74
32912-LOT # 3167 Tern Cv	0.54mi	3/2.0	1,855 (-3%)	3mo	$430,779	$232	67
26300 Timbercreek Ln	0.47mi	3/2.0	1,775 (-8%)	2mo	$439,690	$248	64
32908 Tern Cv	0.63mi	3/2.5	2,004 (+4%)	1mo	$446,884	$223	60
32727 Sailers Cv	0.68mi	3/2.5	2,004 (+4%)	1mo	$440,902	$220	58
26496 Launch Cv #2947	0.43mi	3/2.0	1,680 (-12%)	5mo	$100,000	$60	55
26656 Castaway Cir #52344	0.44mi	3/2.0	1,680 (-12%)	8mo	$199,000	$118	52
26383 Timbercreek Ln	0.41mi	4/3.0 (+1)	2,100 (+9%)	7mo	$432,000	$206	50
32685 Seaview Loop	0.62mi	2/2.0 (-1)	1,734 (-10%)	1mo	$385,000	$222	49
32935 Mimosa Cv	0.57mi	3/2.0	1,680 (-12%)	4mo	$280,000	$167	49

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,648
• Equity at exit: $28,181

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $29,591
• Equity at exit: $16,341

Cash invested: $52,920 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,239 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $407

Break-even live

Break-even rent $1,724

Max offer price $189,000

Occupancy floor 77%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23567 Devonshire Rd Millsboro, DE	3.0	2.5	2166	$2,000	$0.92	21d	1	1.32mi

Listing history 16 events

1. 2026-06-18
   days on market $189,000 Active 56 DOM
2. 2026-06-17
   days on market $189,000 Active 55 DOM
3. 2026-06-16
   days on market $189,000 Active 54 DOM
4. 2026-06-15
   days on market $189,000 Active 53 DOM
5. 2026-06-14
   days on market $189,000 Active 51 DOM
6. 2026-06-13
   days on market $189,000 Active 50 DOM
7. 2026-06-10
   days on market $189,000 Active 48 DOM
8. 2026-06-09
   days on market $189,000 Active 47 DOM
9. 2026-06-08
   days on market $189,000 Active 46 DOM
10. 2026-06-07
    pricedays on market $189,000 Active 45 DOM
11. 2026-06-02
    days on market $200,000 Active 40 DOM
12. 2026-06-01
    days on market $200,000 Active 39 DOM
13. 2026-05-31
    days on market $200,000 Active 38 DOM
14. 2026-05-30
    days on market $200,000 Active 37 DOM
15. 2026-04-24
    listed $200,000 Active 1639-char remark

    Show marketing remark (1639 chars)

    Discover your dream home in this stunning 1920 sq ft triple-wide residence, featuring 3 spacious bedrooms and 2 luxurious bathrooms. Step onto the expansive 48’ wide screened-in porch, where you can unwind while overlooking beautifully manicured gardens and a mature cherry tree. With convenient ramp access to both the side entrance and front deck, this home is designed for easy living. The large shed provides ample storage for your golf car and gardening tools, while the community pool is just a short stroll away, perfect for those sunny days. As you enter, you’re greeted by a formal living room ideal for welcoming guests or enjoying quiet evenings after a day at the beach. The heart of the home boasts an oversized living room with a cozy fireplace, vaulted ceilings, and abundant natural light. The chef’s kitchen is a dream come true, featuring a generous countertop with stools for casual conversations, an abundance of cabinets, and a dining nook for relaxed meals. For more formal gatherings, the elegant dining area shines with a stunning brass chandelier. Retreat to the spacious primary suite, complete with extra-large closets and a pampering ensuite that features a walk-in shower, soaking tub, and dual vanities, all enhanced by a luxurious chandelier. Two additional guest rooms and a well-appointed guest bath complete this inviting home. Nestled in the serene Lakeside community, surrounded by a picturesque six-acre lake, this residence offers modern coastal charm and access to a wealth of amenities, including scenic walking paths and a community pool, making it the perfect place to call home.

16. 2026-04-14
    historical $200,000 1639-char remark

    Show marketing remark (1639 chars)

    Discover your dream home in this stunning 1920 sq ft triple-wide residence, featuring 3 spacious bedrooms and 2 luxurious bathrooms. Step onto the expansive 48’ wide screened-in porch, where you can unwind while overlooking beautifully manicured gardens and a mature cherry tree. With convenient ramp access to both the side entrance and front deck, this home is designed for easy living. The large shed provides ample storage for your golf car and gardening tools, while the community pool is just a short stroll away, perfect for those sunny days. As you enter, you’re greeted by a formal living room ideal for welcoming guests or enjoying quiet evenings after a day at the beach. The heart of the home boasts an oversized living room with a cozy fireplace, vaulted ceilings, and abundant natural light. The chef’s kitchen is a dream come true, featuring a generous countertop with stools for casual conversations, an abundance of cabinets, and a dining nook for relaxed meals. For more formal gatherings, the elegant dining area shines with a stunning brass chandelier. Retreat to the spacious primary suite, complete with extra-large closets and a pampering ensuite that features a walk-in shower, soaking tub, and dual vanities, all enhanced by a luxurious chandelier. Two additional guest rooms and a well-appointed guest bath complete this inviting home. Nestled in the serene Lakeside community, surrounded by a picturesque six-acre lake, this residence offers modern coastal charm and access to a wealth of amenities, including scenic walking paths and a community pool, making it the perfect place to call home.

ⓘ 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 X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $26,863
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$1,612
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$5,498
• Taxable income: $2,033
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $4,394/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 · 12 photos

Good 75/100 Cosmetic rehab

This 1920 sq ft triple-wide residence is in good condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Dated and could be replaced
• Minor Bathroom cabinets — Dated and could be replaced
• Minor Flooring — Carpeted and could be replaced

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics
• Resale Replace bathroom cabinets — Modern cabinets improve functionality and aesthetics
• Resale Replace flooring — New flooring improves aesthetics and functionality
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dated and could be replaced	Minor	$500–3,000
Bathroom cabinets · Dated and could be replaced	Minor	$500–3,000
Flooring · Carpeted and could be replaced	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
• Resale Replace bathroom cabinets — Modern cabinets improve functionality and aesthetics ↑
• Resale Replace flooring — New flooring improves aesthetics and functionality ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property 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: 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

• Census place: Long Neck, DE
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-24 Listed $200,000 BRIGHT MLS
• 2026-04-14 Coming Soon $200,000 BRIGHT MLS