32575 Long Iron #3214 · Long Neck, DE 19966

$299,000

3 bd · 2.0 ba · 1,900 sqft · SingleFamily · 319 Days on market

Built 2001 $157/sqft · 12% below area Est $340k · 12% under ↓ 12% 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 +18.6/30.0
• ARV discount +12.9/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• 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

Golf Course Living with Style and Comfort in Baywood Greens Welcome to this beautifully maintained 3-bedroom, 2-bath home in the highly desirable Baywood Greens golf course community. Perfectly positioned overlooking the 1st green, this home blends comfort, style, and resort-quality amenities and incredible views! Inside, you'll find brand-new flooring throughout, an updated kitchen with stainless steel appliances, and a bright addition off the kitchen that offers stunning golf course views. The open floor plan is ideal for entertaining, while the 2-car attached garage and covered front porch add both function and charm. Step outside to a private paver patio surrounded by well-maintained landscaping—perfect for outdoor dining or peaceful mornings. Major updates include a new roof and a replaced A/C compressor, offering peace of mind and improved energy efficiency. Living in Baywood Greens means enjoying a two-tier resort-style pool, access to private community beaches, and a range of perks such as discounts on golf and clubhouse dining. Residents also have free use of the driving range, putting green, and chipping green, along with access to dog parks, a fitness room, scenic walking trails, and so much more. Whether you're looking for a year-round residence or a relaxing getaway, this home delivers the ideal blend of comfort, convenience, and community in one of the region’s most beautiful settings!

Key facts

• Fitness room
• Private paver patio
• 2 garage spots

Tags

• PRIVATE PAVER PATIO
• TWO-TIER RESORT-STYLE POOL
• PRIVATE COMMUNITY BEACHES
• FITNESS ROOM
• SCENIC WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (0.3% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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).
• At $2,982/mo this rent would consume 46% of the median local household income ($78k/yr) (locally 464% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 319 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 319 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 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: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $340,165
• List price: $299,000
• Delta: -12.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32554 Long Spoon Way #3141	0.09mi	3/2.0	1,860 (-2%)	4mo	$343,000	$184	89
33754 Caddies Way	0.31mi	3/2.0	1,865 (-2%)	0mo	$330,000	$177	82
32519 Putters Dell #3268	0.20mi	3/2.0	1,935 (+2%)	9mo	$295,000	$152	80
31517 Hook Way	0.26mi	3/2.0	1,854 (-2%)	8mo	$374,503	$202	78
25043 Dogleg Way	0.21mi	3/2.0	2,004 (+6%)	10mo	$444,753	$222	73
32524 Putters Dell Dr #3274	0.22mi	3/2.0	2,060 (+8%)	10mo	$415,000	$201	68
32547 Long Iron Way #3210	0.06mi	3/2.5	2,122 (+12%)	11mo	$304,000	$143	66
32373 Bayshore Dr	0.69mi	3/2.0	1,892 (-0%)	3mo	$395,000	$209	65
81 Branch Ct	0.21mi	3/2.0	2,184 (+15%)	2mo	$315,000	$144	64
205 Long Neck Cir	0.35mi	3/2.0	1,674 (-12%)	1mo	$309,900	$185	64
32585 Long Spoon Way #3280	0.26mi	3/2.0	1,618 (-15%)	4mo	$380,000	$235	60
32253 Bayshore Dr	0.70mi	3/2.0	1,695 (-11%)	10mo	$425,000	$251	41

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-29,987
• Equity at exit: $44,582

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,212
• Equity at exit: $25,852

Cash invested: $83,720 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,982 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $289

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 85%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34011 Harvard Ave Millsboro, DE	1.0–3.0	1.0–2.0	1048	$4,516	$4.31	13d	1	0.82mi
23567 Devonshire Rd Millsboro, DE	3.0	2.5	2166	$2,000	$0.92	20d	1	1.31mi

Listing history 23 events

1. 2026-06-18
   days on market $299,000 Active 319 DOM
2. 2026-06-17
   days on market $299,000 Active 318 DOM
3. 2026-06-16
   days on market $299,000 Active 317 DOM
4. 2026-06-15
   days on market $299,000 Active 316 DOM
5. 2026-06-14
   days on market $299,000 Active 314 DOM
6. 2026-06-13
   days on market $299,000 Active 313 DOM
7. 2026-06-10
   days on market $299,000 Active 311 DOM
8. 2026-06-09
   days on market $299,000 Active 310 DOM
9. 2026-06-08
   days on market $299,000 Active 309 DOM
10. 2026-06-07
    days on market $299,000 Active 308 DOM
11. 2026-06-02
    days on market $299,000 Active 303 DOM
12. 2026-06-01
    days on market $299,000 Active 302 DOM
13. 2026-05-31
    days on market $299,000 Active 301 DOM
14. 2026-05-30
    days on market $299,000 Active 300 DOM
15. 2026-04-27
    price $305,000 1434-char remark

    Show marketing remark (1434 chars)

    Golf Course Living with Style and Comfort in Baywood Greens Welcome to this beautifully maintained 3-bedroom, 2-bath home in the highly desirable Baywood Greens golf course community. Perfectly positioned overlooking the 1st green, this home blends comfort, style, and resort-quality amenities and incredible views! Inside, you'll find brand-new flooring throughout, an updated kitchen with stainless steel appliances, and a bright addition off the kitchen that offers stunning golf course views. The open floor plan is ideal for entertaining, while the 2-car attached garage and covered front porch add both function and charm. Step outside to a private paver patio surrounded by well-maintained landscaping—perfect for outdoor dining or peaceful mornings. Major updates include a new roof and a replaced A/C compressor, offering peace of mind and improved energy efficiency. Living in Baywood Greens means enjoying a two-tier resort-style pool, access to private community beaches, and a range of perks such as discounts on golf and clubhouse dining. Residents also have free use of the driving range, putting green, and chipping green, along with access to dog parks, a fitness room, scenic walking trails, and so much more. Whether you're looking for a year-round residence or a relaxing getaway, this home delivers the ideal blend of comfort, convenience, and community in one of the region’s most beautiful settings!

16. 2026-02-25
    price $316,900 1434-char remark

    Show marketing remark (1434 chars)

    Golf Course Living with Style and Comfort in Baywood Greens Welcome to this beautifully maintained 3-bedroom, 2-bath home in the highly desirable Baywood Greens golf course community. Perfectly positioned overlooking the 1st green, this home blends comfort, style, and resort-quality amenities and incredible views! Inside, you'll find brand-new flooring throughout, an updated kitchen with stainless steel appliances, and a bright addition off the kitchen that offers stunning golf course views. The open floor plan is ideal for entertaining, while the 2-car attached garage and covered front porch add both function and charm. Step outside to a private paver patio surrounded by well-maintained landscaping—perfect for outdoor dining or peaceful mornings. Major updates include a new roof and a replaced A/C compressor, offering peace of mind and improved energy efficiency. Living in Baywood Greens means enjoying a two-tier resort-style pool, access to private community beaches, and a range of perks such as discounts on golf and clubhouse dining. Residents also have free use of the driving range, putting green, and chipping green, along with access to dog parks, a fitness room, scenic walking trails, and so much more. Whether you're looking for a year-round residence or a relaxing getaway, this home delivers the ideal blend of comfort, convenience, and community in one of the region’s most beautiful settings!

17. 2025-08-03
    listed $319,900 Active 1434-char remark

    Show marketing remark (1434 chars)

    Golf Course Living with Style and Comfort in Baywood Greens Welcome to this beautifully maintained 3-bedroom, 2-bath home in the highly desirable Baywood Greens golf course community. Perfectly positioned overlooking the 1st green, this home blends comfort, style, and resort-quality amenities and incredible views! Inside, you'll find brand-new flooring throughout, an updated kitchen with stainless steel appliances, and a bright addition off the kitchen that offers stunning golf course views. The open floor plan is ideal for entertaining, while the 2-car attached garage and covered front porch add both function and charm. Step outside to a private paver patio surrounded by well-maintained landscaping—perfect for outdoor dining or peaceful mornings. Major updates include a new roof and a replaced A/C compressor, offering peace of mind and improved energy efficiency. Living in Baywood Greens means enjoying a two-tier resort-style pool, access to private community beaches, and a range of perks such as discounts on golf and clubhouse dining. Residents also have free use of the driving range, putting green, and chipping green, along with access to dog parks, a fitness room, scenic walking trails, and so much more. Whether you're looking for a year-round residence or a relaxing getaway, this home delivers the ideal blend of comfort, convenience, and community in one of the region’s most beautiful settings!

18. 2016-06-12
    historical
19. 2014-09-08
    listed $229,900
20. 2014-05-01
    historical
21. 2013-11-11
    listed $249,900
22. 2006-08-14
    historical
23. 2006-07-09
    listed $345,000

ⓘ 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: $35,780
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − Depreciation: −$8,698
• Taxable loss: −$1,372
• Est. tax savings @ 24.0%: +$329
• After-tax cash flow: $3,800/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

-11.6% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $305,000 BRIGHT MLS
• 2026-02-25 Price Changed $316,900 BRIGHT MLS
• 2025-08-03 Listed $319,900 BRIGHT MLS
• 2016-06-12 Listing Removed — BRIGHT MLS
• 2014-09-08 Listed $229,900 BRIGHT MLS
• 2014-05-01 Listing Removed — BRIGHT MLS
• 2013-11-11 Listed $249,900 BRIGHT MLS
• 2006-08-14 Listing Removed — BRIGHT MLS
• 2006-07-09 Listed $345,000 BRIGHT MLS