26346 Oak Forest Ln · Long Neck, DE 19966

$75,000

2 bd · 1.0 ba · 736 sqft · Manufactured public records · 22 Days on market

Built 1994 19 ac lot Est $59k · 27% over $850/mo HOA · 48% of rent

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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 +16.2/30.0
• 1% rule +10.0/10.0
• DSCR +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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located in Millsboro, this home offers easy access to Delaware’s most popular coastal destinations. Enjoy a short drive to the beaches of Rehoboth Beach, Lewes and Bethany Beach where you’ll find award winning dining, shopping, boardwalks and pristine shoreline. Ideally positioned near Route 113 and Route 24, this location provides the perfect balance of peaceful residential living with quick access to coastal attractions, boating, golf and year round entertainment. The kitchen offers an open layout with a breakfast bar overlooking the living area. Two bedrooms and one full bath are conveniently located on a single level. Perfectly suited as a primary residence or a second home, this location combines peaceful living with quick access to year round coastal recreation. Lot rent is $800 a month includes water. Cash purchase only

Key facts

• Spacious back deck
• Newer countertops
• Three storage sheds

Tags

• UPDATED VINYL FLOORING
• NEWER COUNTERTOPS
• SPACIOUS BACK DECK
• LARGE SCREENED-IN FRONT PORCH
• OUTDOOR SHOWER
• THREE STORAGE SHEDS

Property features AI

Finance

• Other: Lot dimensions per assessor; Above-grade finished area approximately 684 (source: estimated)
• Financial info: Annual ground rent listed under income/expense; Land lease years remaining: 1
• HOA & community: Monthly land lease / association fee of $850

Exterior

• Parking: Driveway
• Utilities: Community water; Community septic tank
• Home design: Manufactured home; Estimated year built; Land lease ownership
• Construction: Vinyl siding
• Exterior features: Not located in a federal flood zone; Above-grade and below-grade other structures noted; Tidal water: No

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Heat pump heating; Wall unit cooling; Electric heating and cooling; Electric hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $40 ($483/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 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 $519 of loan paydown is wiped out by about $2k 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 22 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $75k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 48% of rent.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.38% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.30%
• DSCR: 1.10
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $58,880
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25780 Blue Ridge St #4198	0.67mi	3/1.0 (+1)	740 (+0%)	1mo	$58,850	$80	62

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-9,043
• Equity at exit: $11,183

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-2,345
• Equity at exit: $6,485

Cash invested: $21,000 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$850
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $40

Break-even live

Break-even rent $1,732

Max offer price $75,000

Occupancy floor 93%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $850 · $10,200/yr
• Likely covers: water

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 22 DOM
2. 2026-06-17
   days on market $75,000 Active 21 DOM
3. 2026-06-16
   days on market $75,000 Active 20 DOM
4. 2026-06-15
   days on market $75,000 Active 19 DOM
5. 2026-06-14
   days on market $75,000 Active 17 DOM
6. 2026-06-13
   days on market $75,000 Active 16 DOM
7. 2026-06-10
   days on market $75,000 Active 14 DOM
8. 2026-06-09
   days on market $75,000 Active 13 DOM
9. 2026-06-09
   price $75,000 Active 12 DOM
10. 2026-06-08
    days on market $83,000 Active 12 DOM
11. 2026-06-07
    days on market $83,000 Active 11 DOM
12. 2026-06-02
    days on market $83,000 Active 6 DOM
13. 2026-06-01
    days on market $83,000 Active 5 DOM
14. 2026-05-31
    days on market $83,000 Active 4 DOM
15. 2026-05-30
    days on market $83,000 Active 3 DOM
16. 2026-05-27
    listed $83,000 Active
17. 2026-01-23
    soldstatus $18,000 Closed 864-char remark

    Show marketing remark (864 chars)

    Conveniently located in Millsboro, this home offers easy access to Delaware’s most popular coastal destinations. Enjoy a short drive to the beaches of Rehoboth Beach, Lewes and Bethany Beach where you’ll find award winning dining, shopping, boardwalks and pristine shoreline. Ideally positioned near Route 113 and Route 24, this location provides the perfect balance of peaceful residential living with quick access to coastal attractions, boating, golf and year round entertainment. The kitchen offers an open layout with a breakfast bar overlooking the living area. Two bedrooms and one full bath are conveniently located on a single level. Perfectly suited as a primary residence or a second home, this location combines peaceful living with quick access to year round coastal recreation. Lot rent is $800 a month includes water. Cash purchase only

18. 2026-01-12
    status Pending 864-char remark

    Show marketing remark (864 chars)

    Conveniently located in Millsboro, this home offers easy access to Delaware’s most popular coastal destinations. Enjoy a short drive to the beaches of Rehoboth Beach, Lewes and Bethany Beach where you’ll find award winning dining, shopping, boardwalks and pristine shoreline. Ideally positioned near Route 113 and Route 24, this location provides the perfect balance of peaceful residential living with quick access to coastal attractions, boating, golf and year round entertainment. The kitchen offers an open layout with a breakfast bar overlooking the living area. Two bedrooms and one full bath are conveniently located on a single level. Perfectly suited as a primary residence or a second home, this location combines peaceful living with quick access to year round coastal recreation. Lot rent is $800 a month includes water. Cash purchase only

19. 2026-01-08
    listed $29,000 Active 864-char remark

    Show marketing remark (864 chars)

    Conveniently located in Millsboro, this home offers easy access to Delaware’s most popular coastal destinations. Enjoy a short drive to the beaches of Rehoboth Beach, Lewes and Bethany Beach where you’ll find award winning dining, shopping, boardwalks and pristine shoreline. Ideally positioned near Route 113 and Route 24, this location provides the perfect balance of peaceful residential living with quick access to coastal attractions, boating, golf and year round entertainment. The kitchen offers an open layout with a breakfast bar overlooking the living area. Two bedrooms and one full bath are conveniently located on a single level. Perfectly suited as a primary residence or a second home, this location combines peaceful living with quick access to year round coastal recreation. Lot rent is $800 a month includes water. Cash purchase only

ⓘ 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 · 17 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: $21,395
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − HOA: −$10,200
• − Depreciation: −$2,182
• Taxable loss: −$111
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $509/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

• 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

+186.2% since first listed

4 events — show timeline

• 2026-05-27 Listed $83,000 BRIGHT MLS
• 2026-01-23 Sold (MLS) $18,000 BRIGHT MLS
• 2026-01-12 Pending — BRIGHT MLS
• 2026-01-08 Listed $29,000 BRIGHT MLS

Property tax history

-8.1%/yr

Latest (2025): $101 · -53.0% YoY. Source: county tax records.