31660 Janice Rd · Lewes, DE 19958

$109,900

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 266 Days on market

Built 1987 $131/sqft · 58% above area ↓ 18% since listing

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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 +7.5/15.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

Key facts

• 3 parking spots
• Community pool
• Built 1987

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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 $760 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($97k) 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 $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 1.94% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.14%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (median comp): $69,588
• List price: $109,900
• Delta: 57.93%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31752 Siham Rd	0.12mi	2/2.0	840 (0%)	1mo	$92,500	$110	94
32041 Janice Rd #2275	0.32mi	2/2.0	850 (+1%)	13mo	$115,000	$135	72

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: 29.3%
• Equity multiple: 2.19×
• Total profit: $36,565
• Equity at exit: $16,386

10-year hold

• IRR: 35.4%
• Equity multiple: 3.91×
• Total profit: $89,593
• Equity at exit: $9,502

Cash invested: $30,772 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,135 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $927

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 52%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12001 Old Vine Blvd Lewes, DE	1.0–2.0	1.0–2.0	987	$3,055	$3.10	13d	17	0.48mi

Listing history 23 events

1. 2026-06-18
   days on market $109,900 Active 266 DOM
2. 2026-06-17
   days on market $109,900 Active 265 DOM
3. 2026-06-16
   days on market $109,900 Active 264 DOM
4. 2026-06-15
   days on market $109,900 Active 263 DOM
5. 2026-06-14
   days on market $109,900 Active 261 DOM
6. 2026-06-13
   days on market $109,900 Active 260 DOM
7. 2026-06-10
   days on market $109,900 Active 258 DOM
8. 2026-06-09
   days on market $109,900 Active 257 DOM
9. 2026-06-08
   days on market $109,900 Active 256 DOM
10. 2026-06-07
    days on market $109,900 Active 255 DOM
11. 2026-06-05
    pricedays on market $109,900 Active 252 DOM
12. 2026-06-03
    days on market $114,900 Active 251 DOM
13. 2026-06-02
    days on market $114,900 Active 250 DOM
14. 2026-06-01
    days on market $114,900 Active 249 DOM
15. 2026-05-31
    days on market $114,900 Active 248 DOM
16. 2026-05-30
    days on market $114,900 Active 247 DOM
17. 2026-04-28
    price $114,900 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

18. 2026-03-30
    price $119,900 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

19. 2026-03-09
    price $124,900 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

20. 2025-12-02
    price $129,900 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

21. 2025-10-20
    price $134,999 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

22. 2025-09-26
    listed $139,900 Active 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

23. 2025-09-25
    historical $139,900 1599-char remark

    Show marketing remark (1599 chars)

    NEW PRICE!! Welcome to this beautifully remodeled in 2025 manufactured home in the sought-after Whispering Pines community—redone down to the sheetrock and subflooring! With upgrades including a new roof, windows, deck & railings, HVAC, electrical, plumbing, appliances, and more, this 2-bedroom, 2-bath home offers the comfort and feel of a brand-new build. Step onto the brand-new front deck, surrounded by mature trees, and enter an open-concept living space featuring luxury vinyl plank flooring throughout. The light-filled living room flows into a spacious dining area and a modern kitchen, complete with all new white cabinetry, tile-accented walls, recessed lighting, stainless steel appliances, and a window above the double sink that looks out onto the peaceful yard. The primary bedroom includes a generous walk-in closet and a private ensuite bathroom with a step-in shower, new vanity, and all new fixtures. A second bedroom and fully remodeled bath offer comfort and flexibility for guests or home office use. Outside, enjoy the privacy and shade of mature trees, plus a storage shed for your beach gear and bikes. Whispering Pines offers a community pool, playground, basketball court, and covered picnic area—everything you need for an active lifestyle. Located just 10 minutes from downtown Lewes and its beaches, boating, and outdoor recreation, with easy access to Route 1, shopping outlets, dining, and Rehoboth Beach just minutes away. Conveniently located near schools, grocery, pharmacy, and hospital/medical care, this is your move-in ready coastal retreat!

ⓘ 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: $25,614
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − Depreciation: −$3,197
• Taxable income: $9,965
• Est. tax owed @ 24.0%: −$2,392
• After-tax cash flow: $8,730/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

-17.9% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $114,900 BRIGHT MLS
• 2026-03-30 Price Changed $119,900 BRIGHT MLS
• 2026-03-09 Price Changed $124,900 BRIGHT MLS
• 2025-12-02 Price Changed $129,900 BRIGHT MLS
• 2025-10-20 Price Changed $134,999 BRIGHT MLS
• 2025-09-26 Listed $139,900 BRIGHT MLS
• 2025-09-25 Coming Soon $139,900 BRIGHT MLS

Property tax history

-4.9%/yr

Latest (2025): $127 · -23.6% YoY. Source: county tax records.