34059 Clematis St · Lewes, DE 19958

$89,900

3 bd · 2.0 ba · 938 sqft · Manufactured · 91 Days on market

Built 1980 37 ac lot $96/sqft · 37% above area Est $65k · 37% over ↓ 20% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

Key facts

• 37.04 acre lot
• 3 parking spots
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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; 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 + 0.8% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($82k) 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 $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 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?
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: 2.45% ✓
• Cap rate: 21.19%
• Cash-on-cash: 53.22%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $65,428
• List price: $89,900
• Delta: 37.40%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33987 Sunflower Rd #3831	0.10mi	2/1.0 (-1)	1,000 (+7%)	2mo	$56,000	$56	74

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: 22.8%
• Equity multiple: 1.90×
• Total profit: $22,698
• Equity at exit: $13,404

10-year hold

• IRR: 28.9%
• Equity multiple: 3.22×
• Total profit: $55,900
• Equity at exit: $7,773

Cash invested: $25,172 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $656

Break-even live

Break-even rent $1,369

Max offer price $89,900

Occupancy floor 65%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33725 Skiff Aly #5309 Lewes, DE	2.0	2.0	844	$1,800	$2.13	21d	1	0.33mi

Listing history 22 events

1. 2026-06-18
   days on market $89,900 Active 91 DOM
2. 2026-06-17
   days on market $89,900 Active 90 DOM
3. 2026-06-16
   days on market $89,900 Active 89 DOM
4. 2026-06-15
   days on market $89,900 Active 88 DOM
5. 2026-06-14
   days on market $89,900 Active 86 DOM
6. 2026-06-13
   days on market $89,900 Active 85 DOM
7. 2026-06-10
   days on market $89,900 Active 83 DOM
8. 2026-06-09
   days on market $89,900 Active 82 DOM
9. 2026-06-09
   price $89,900 Active 81 DOM
10. 2026-06-08
    days on market $99,900 Active 81 DOM
11. 2026-06-07
    days on market $99,900 Active 80 DOM
12. 2026-06-05
    days on market $99,900 Active 77 DOM
13. 2026-06-03
    days on market $99,900 Active 76 DOM
14. 2026-06-02
    days on market $99,900 Active 75 DOM
15. 2026-06-01
    days on market $99,900 Active 74 DOM
16. 2026-05-31
    days on market $99,900 Active 73 DOM
17. 2026-05-30
    days on market $99,900 Active 72 DOM
18. 2026-05-11
    price $99,900 828-char remark

    Show marketing remark (828 chars)

    The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

19. 2026-04-21
    price $104,999 828-char remark

    Show marketing remark (828 chars)

    The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

20. 2026-04-09
    price $115,000 828-char remark

    Show marketing remark (828 chars)

    The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

21. 2026-03-19
    listed $125,000 Active 828-char remark

    Show marketing remark (828 chars)

    The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

22. 2026-03-19
    historical $125,000 828-char remark

    Show marketing remark (828 chars)

    The sellers are offering 2 months lot rent paid with an acceptable offer. Welcome to easy coastal living in the heart of Love Creek, Lewes. In Park Marina convenient for all your water sports. A few miles nearby to the famous Tangier outlets Rehoboth beach and many other coastal amenities. This charming 3-bedroom, 2-bath home has been lovingly cared for and offers a spotless, move‑in‑ready interior with an open concept. The screened‑in porch invites you to unwind with morning coffee or evening breezes, while the storage shed keeps everything organized for beach days and backyard projects. Whether you're looking for a full‑time residence or a weekend retreat, this home offers comfort, convenience, and the relaxed Delaware lifestyle you’ve been searching for. Contingent on park approval Monthly lot rent - $663.58

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°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: $26,395
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$5,974
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$2,615
• Taxable income: $7,197
• Est. tax owed @ 24.0%: −$1,727
• After-tax cash flow: $6,144/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: 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

Price history

-20.1% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $99,900 BRIGHT MLS
• 2026-04-21 Price Changed $104,999 BRIGHT MLS
• 2026-04-09 Price Changed $115,000 BRIGHT MLS
• 2026-03-19 Listed $125,000 BRIGHT MLS
• 2026-03-19 Coming Soon $125,000 BRIGHT MLS

Property tax history

-7.2%/yr

Latest (2025): $164 · -53.2% YoY. Source: county tax records.