34159 Indian Cabin Creek Rd #792 · Long Neck, DE 19966

$169,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 85 Days on market

Built 2004 Fair condition $126/sqft · 8% below area Est $183k · 8% under

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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 +29.6/30.0
• ARV discount +11.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the ultimate coastal lifestyle in this charming 3-bedroom, 2-bath home nestled in the original section of Pot-Nets Bayside. Spanning 1,344 sq ft, this residence boasts a vaulted ceiling and modern luxury vinyl plank flooring throughout the living areas, complemented by cozy carpeting in the bedrooms. The primary suite features a spacious closet and an ensuite with both a soaking tub and shower, while the guest rooms are brightened by a skylight in the guest bath. Enjoy cooking in the eat-in kitchen with newer appliances, and step out onto your expansive screened-in porch, perfect for evening meals after a day at the beach. With over 500 sq ft of deck space for grilling and a fire pit area for relaxing under the stars, this home is designed for entertaining. Plus, a 14x14 shed provides ample storage for all your beach gear. Embrace the community's private beaches, pools, and recreational amenities, ensuring that your days are filled with sun, fun, and relaxation. Don’t miss out on this coastal gem! Golf car with charger and Jet Ski included in the sale of the home with reasonable offer.

Key facts

• Vaulted ceiling
• Fire pit area
• Private beaches

Tags

• VAULTED CEILING
• LUXURY VINYL PLANK FLOORING
• EXPANSIVE SCREENED-IN PORCH
• OVER 500 SQ FT OF DECK SPACE
• FIRE PIT AREA
• PRIVATE BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $169k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 35% 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 $5k 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 85 days — a 6% lower offer ($159k) 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 $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $183,109
• List price: $169,000
• Delta: -7.71%
• 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
26990 Wood Duck Rd #52697	0.16mi	3/2.0	1,334 (-1%)	1mo	$180,000	$135	90
34484 Oak Ln	0.20mi	3/2.0	1,400 (+4%)	1mo	$207,900	$149	83
34215 River Rd	0.38mi	3/2.0	1,275 (-5%)	1mo	$240,000	$188	73
34366 Beach Plum #468	0.19mi	3/2.0	1,446 (+8%)	7mo	$99,000	$68	73
34401 Mallard Rd #502	0.16mi	3/2.0	1,200 (-11%)	3mo	$99,900	$83	72
34346 River Rd #55756	0.21mi	3/2.0	1,512 (+12%)	6mo	$215,000	$142	65
34488 Easy St Unit E-810	0.46mi	3/2.0	1,456 (+8%)	0mo	$190,000	$130	64
34495 Easy St	0.49mi	3/2.0	1,432 (+6%)	6mo	$140,000	$98	61
34249 Hillenwood Rd #48450	0.24mi	3/2.0	1,152 (-14%)	7mo	$239,000	$207	60
26545 Woodchuck Ln Unit E-862	0.56mi	3/2.0	1,456 (+8%)	0mo	$159,000	$109	59
34482 Basin Cir #655	0.22mi	4/3.0 (+1)	1,484 (+10%)	8mo	$199,000	$134	56
34635 Deck St Unit E-323	0.46mi	4/2.0 (+1)	1,168 (-13%)	3mo	$134,900	$115	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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-17,411
• Equity at exit: $25,198

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,437
• Equity at exit: $14,612

Cash invested: $47,320 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 865
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,253 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $152

Break-even live

Break-even rent $2,061

Max offer price $169,000

Occupancy floor 88%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	1.31mi

Listing history 16 events

1. 2026-06-18
   price $169,000 Active 85 DOM
2. 2026-06-18
   days on market $175,000 Active 85 DOM
3. 2026-06-17
   days on market $175,000 Active 84 DOM
4. 2026-06-16
   days on market $175,000 Active 83 DOM
5. 2026-06-15
   days on market $175,000 Active 82 DOM
6. 2026-06-14
   days on market $175,000 Active 80 DOM
7. 2026-06-13
   days on market $175,000 Active 79 DOM
8. 2026-06-10
   days on market $175,000 Active 77 DOM
9. 2026-06-09
   days on market $175,000 Active 76 DOM
10. 2026-06-08
    days on market $175,000 Active 75 DOM
11. 2026-06-07
    days on market $175,000 Active 74 DOM
12. 2026-06-02
    days on market $175,000 Active 69 DOM
13. 2026-06-01
    days on market $175,000 Active 68 DOM
14. 2026-05-31
    days on market $175,000 Active 67 DOM
15. 2026-05-30
    days on market $175,000 Active 66 DOM
16. 2026-03-25
    listed $175,000 Active 1119-char remark

    Show marketing remark (1119 chars)

    Experience the ultimate coastal lifestyle in this charming 3-bedroom, 2-bath home nestled in the original section of Pot-Nets Bayside. Spanning 1,344 sq ft, this residence boasts a vaulted ceiling and modern luxury vinyl plank flooring throughout the living areas, complemented by cozy carpeting in the bedrooms. The primary suite features a spacious closet and an ensuite with both a soaking tub and shower, while the guest rooms are brightened by a skylight in the guest bath. Enjoy cooking in the eat-in kitchen with newer appliances, and step out onto your expansive screened-in porch, perfect for evening meals after a day at the beach. With over 500 sq ft of deck space for grilling and a fire pit area for relaxing under the stars, this home is designed for entertaining. Plus, a 14x14 shed provides ample storage for all your beach gear. Embrace the community's private beaches, pools, and recreational amenities, ensuring that your days are filled with sun, fun, and relaxation. Don’t miss out on this coastal gem! Golf car with charger and Jet Ski included in the sale of the home with reasonable offer.

ⓘ 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 10/10 Extreme FEMA zone AE · 99% 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: $27,038
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$6,370
• − Repairs & maintenance: −$2,163
• − Management: −$2,163
• − Depreciation: −$4,916
• Taxable loss: −$576
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $1,958/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 · 1 photo

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bath home requires moderate repairs and maintenance to improve its condition and value. Painting and landscaping improvements would significantly enhance its curb appeal and overall value.

Repairs flagged

• Moderate Exterior siding — Weathered and needs repainting or replacement.
• Moderate Interior walls/paint — Paint appears faded and may need touch-up or repainting.
• Minor Landscaping — Overgrown and could benefit from trimming and planting.

Value-add opportunities

• Both Painting exterior siding and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Improves curb appeal and enhances property value.
• Rental HVAC maintenance — Ensures comfort and reduces energy costs for tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and needs repainting or replacement.	Moderate	$3,000–15,000
Interior walls/paint · Paint appears faded and may need touch-up or repainting.	Moderate	$3,000–15,000
Landscaping · Overgrown and could benefit from trimming and planting.	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both Painting exterior siding and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Improves curb appeal and enhances property value. ↑
• Rental HVAC maintenance — Ensures comfort and reduces energy costs for tenants. ↑

ⓘ 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

1 event — show timeline

• 2026-03-25 Listed $175,000 BRIGHT MLS