26669 River Breeze Dr · Long Neck, DE 19966

$285,000

4 bd · 3.0 ba · 1,755 sqft · Manufactured · 75 Days on market

Built 1986 0.50 ac lot $162/sqft · 61% above area $8/mo HOA

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Why this score? — see what drove the D+ 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +3.8/10.0
• 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

ATTENTION: Significant price improvement to $285,000!!! Seller is motivated!!!! Being sold "as Is". With a vision, the buyer has closeness and proximity to many outstanding features in both Rehoboth and Bethany plus local shopping opportunities and dining options. Discover a unique opportunity to own this Class C manufactured home on . 5 acre. Renovated through the years to this now 1,755 square feet of designed living space. Built in 1986, this Class C residence combines comfort with privacy. The home features four generously sized bedrooms spaced amply apart providing space for relaxation and personalization. The three full bathrooms beside the bedrooms ensure convenience and privacy for all. The interior boasts an attic/house fan, promoting a comfortable climate year-round while enhancing energy efficiency. The exterior of the home is simple and maintained with wood decks in both the front and back, as well as a detached garage. River Breeze is set within a well-maintained community that includes road maintenance by your HOA. While there are no additional amenities, the simplicity of the surroundings allows for a peaceful lifestyle, free from the distractions of excessive noise and activity. With some furnishings included, this home is a blank canvas, ready for you to infuse your personal style and vision. Being sold in "AS IS" condition. All inspections are for informational purposes only. Septic evaluation provided although noted as Unsatisfactory.

Key facts

• Wood decks
• Attic house fan
• Detached garage

Tags

• CLASS C MANUFACTURED HOME
• WOOD DECKS
• DETACHED GARAGE
• ATTIC HOUSE FAN
• WELL MAINTAINED COMMUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath manufactured listed at $285k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/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 $250k (12.3% below list).
• Recommended offer: $250k (12.3% below list) — sets the bar for 1% rule.
• 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 38% 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 $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 75 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $161k; list at $285k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,939 (12.3% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 9.5

CMA / ARV

• ARV (median comp): $177,090
• List price: $285,000
• Delta: 60.94%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25818 Autumn Rd	0.60mi	3/2.0 (-1)	1,500 (-14%)	10mo	$190,000	$127	30

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-27,672
• Equity at exit: $42,494

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-647
• Equity at exit: $24,642

Cash invested: $79,800 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,499 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$119
• HOA: −$8
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $293

Break-even live

Break-even rent $2,129

Max offer price $285,000

Occupancy floor 83%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.07mi
34011 Harvard Ave Millsboro, DE	1.0–3.0	1.0–2.0	1048	$4,516	$4.31	14d	1	0.82mi
32082 Plaza Dr , DE	1.0–3.0	1.0–2.0	1169	$2,019	$1.73	21d	14	0.97mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 14 events

1. 2026-04-22
   price $285,000 1498-char remark

   Show marketing remark (1498 chars)

   ATTENTION: Significant price improvement to $285,000!!! Seller is motivated!!!! Being sold "as Is". With a vision, the buyer has closeness and proximity to many outstanding features in both Rehoboth and Bethany plus local shopping opportunities and dining options. Discover a unique opportunity to own this Class C manufactured home on . 5 acre. Renovated through the years to this now 1,755 square feet of designed living space. Built in 1986, this Class C residence combines comfort with privacy. The home features four generously sized bedrooms spaced amply apart providing space for relaxation and personalization. The three full bathrooms beside the bedrooms ensure convenience and privacy for all. The interior boasts an attic/house fan, promoting a comfortable climate year-round while enhancing energy efficiency. The exterior of the home is simple and maintained with wood decks in both the front and back, as well as a detached garage. River Breeze is set within a well-maintained community that includes road maintenance by your HOA. While there are no additional amenities, the simplicity of the surroundings allows for a peaceful lifestyle, free from the distractions of excessive noise and activity. With some furnishings included, this home is a blank canvas, ready for you to infuse your personal style and vision. Being sold in "AS IS" condition. All inspections are for informational purposes only. Septic evaluation provided although noted as Unsatisfactory.

2. 2026-03-12
   listed $315,000 Active 1498-char remark

   Show marketing remark (1498 chars)

   ATTENTION: Significant price improvement to $285,000!!! Seller is motivated!!!! Being sold "as Is". With a vision, the buyer has closeness and proximity to many outstanding features in both Rehoboth and Bethany plus local shopping opportunities and dining options. Discover a unique opportunity to own this Class C manufactured home on . 5 acre. Renovated through the years to this now 1,755 square feet of designed living space. Built in 1986, this Class C residence combines comfort with privacy. The home features four generously sized bedrooms spaced amply apart providing space for relaxation and personalization. The three full bathrooms beside the bedrooms ensure convenience and privacy for all. The interior boasts an attic/house fan, promoting a comfortable climate year-round while enhancing energy efficiency. The exterior of the home is simple and maintained with wood decks in both the front and back, as well as a detached garage. River Breeze is set within a well-maintained community that includes road maintenance by your HOA. While there are no additional amenities, the simplicity of the surroundings allows for a peaceful lifestyle, free from the distractions of excessive noise and activity. With some furnishings included, this home is a blank canvas, ready for you to infuse your personal style and vision. Being sold in "AS IS" condition. All inspections are for informational purposes only. Septic evaluation provided although noted as Unsatisfactory.

3. 2026-03-12
   historical $315,000 1498-char remark

   Show marketing remark (1498 chars)

   ATTENTION: Significant price improvement to $285,000!!! Seller is motivated!!!! Being sold "as Is". With a vision, the buyer has closeness and proximity to many outstanding features in both Rehoboth and Bethany plus local shopping opportunities and dining options. Discover a unique opportunity to own this Class C manufactured home on . 5 acre. Renovated through the years to this now 1,755 square feet of designed living space. Built in 1986, this Class C residence combines comfort with privacy. The home features four generously sized bedrooms spaced amply apart providing space for relaxation and personalization. The three full bathrooms beside the bedrooms ensure convenience and privacy for all. The interior boasts an attic/house fan, promoting a comfortable climate year-round while enhancing energy efficiency. The exterior of the home is simple and maintained with wood decks in both the front and back, as well as a detached garage. River Breeze is set within a well-maintained community that includes road maintenance by your HOA. While there are no additional amenities, the simplicity of the surroundings allows for a peaceful lifestyle, free from the distractions of excessive noise and activity. With some furnishings included, this home is a blank canvas, ready for you to infuse your personal style and vision. Being sold in "AS IS" condition. All inspections are for informational purposes only. Septic evaluation provided although noted as Unsatisfactory.

4. 2011-06-06
   soldstatus $161,000
5. 2011-06-06
   soldstatus $161,000
6. 2011-06-02
   soldstatus $161,000 173-char remark

   Show marketing remark (173 chars)

   Super Low Price for a Home of Over 2,300 sq. ft. with 4 Bedrooms and a Garage on a Half Acre Lot. Take the Virtual Tour to see All of the Features. Seller is Very Motivated!

7. 2011-05-09
   historical 173-char remark

   Show marketing remark (173 chars)

   Super Low Price for a Home of Over 2,300 sq. ft. with 4 Bedrooms and a Garage on a Half Acre Lot. Take the Virtual Tour to see All of the Features. Seller is Very Motivated!

8. 2011-03-01
   listed $165,500 173-char remark

   Show marketing remark (173 chars)

   Super Low Price for a Home of Over 2,300 sq. ft. with 4 Bedrooms and a Garage on a Half Acre Lot. Take the Virtual Tour to see All of the Features. Seller is Very Motivated!

9. 2011-01-31
   historical
10. 2010-05-10
    listed $169,900
11. 2006-11-10
    soldstatus $165,000
12. 2006-06-28
    listed $187,000
13. 2006-05-12
    historical
14. 2005-05-12
    listed $215,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $725 · $60/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$464/yr (+$39/mo · 64.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 19 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: $29,993
• − Mortgage interest: −$15,964
• − Property taxes: −$725
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,399
• − Management: −$2,399
• − HOA: −$96
• − Depreciation: −$8,291
• Taxable loss: −$1,307
• Est. tax savings @ 24.0%: +$314
• After-tax cash flow: $3,827/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

+32.6% since first listed

14 events — show timeline

• 2026-04-22 Price Changed $285,000 BRIGHT MLS
• 2026-03-12 Listed $315,000 BRIGHT MLS
• 2026-03-12 Coming Soon $315,000 BRIGHT MLS
• 2011-06-06 Sold (Public Records) $161,000 Public Records
• 2011-06-06 Sold (Public Records) $161,000 Public Records
• 2011-06-02 Sold (MLS) $161,000 BRIGHT MLS
• 2011-05-09 Listing Removed — BRIGHT MLS
• 2011-03-01 Listed $165,500 BRIGHT MLS
• 2011-01-31 Listing Removed — BRIGHT MLS
• 2010-05-10 Listed $169,900 BRIGHT MLS
• 2006-11-10 Sold (MLS) $165,000 BRIGHT MLS
• 2006-06-28 Listed $187,000 BRIGHT MLS
• 2006-05-12 Listing Removed — BRIGHT MLS
• 2005-05-12 Listed $215,000 BRIGHT MLS

Property tax history

-0.6%/yr

Latest (2025): $725 · -22.4% YoY. Source: county tax records.