34134 Indian Cabin Creek Rd · Long Neck, DE 19966

$109,000

3 bd · 2.0 ba · 1,112 sqft · Manufactured · 154 Days on market

Built 1989 5,500 sqft lot $98/sqft · 35% below area Est $167k · 35% under ↓ 13% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great new listing in Pot-Nets Bayside! Check out the new drone pictures!! Located in the heart of Bayside, all amenities are within a few blocks from this doublewide home, including Bayside Beach, Boat marinas, Fishing pier, Golf car paths, playgrounds, boat rentals and the famous Paradise Grill!! Having been recently upgraded, this home offers three good size bedrooms, two full baths, gourmet Kitchen and spacious, open Dining and Living Room, perfect for entertaining. There is a sliding door which opens to a nice front deck, side yard, fenced in back yard and shed which is large enough for golf car storage. The home features bamboo flooring in the main areas, white raised panel doors, new microwave, Refrigerator, garbage disposal, double sink and faucet in the Kitchen, plus new cabinets and countertops, Bathroom vanities and mirrors, new window blinds, and some windows have been replaced. Lot rent is $1116 per month which includes trash/recycle and yard waste pick up.

Key facts

• Golf car paths
• Boat marinas
• Fishing pier

Tags

• BAYSIDE BEACH
• BOAT MARINAS
• FISHING PIER
• GOLF CAR PATHS
• PLAYGROUNDS
• BOAT RENTALS

🏷️ Possibly a rental listed for sale. The $109,000 price doesn't fit this home's estimated sale value (~$166,517) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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; 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 34% 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 $754 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 + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 2.06% ✓
• Cap rate: 17.50%
• Cash-on-cash: 40.01%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

• ARV (median comp): $166,517
• List price: $109,000
• Delta: -34.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34192 Sassafras Rd #5011	0.11mi	3/2.0	1,140 (+2%)	17mo	$60,000	$53	76

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: 14.8%
• Equity multiple: 1.59×
• Total profit: $18,137
• Equity at exit: $16,252

10-year hold

• IRR: 23.7%
• Equity multiple: 3.06×
• Total profit: $62,771
• Equity at exit: $9,424

Cash invested: $30,520 (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: 4.1×

Monthly cashflow live

• Estimated rent: $2,242 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $557

Break-even live

Break-even rent $1,536

Max offer price $109,000

Occupancy floor 70%

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: $27,250
• Closing costs: $3,270
• 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	14d	1	1.46mi

Listing history 18 events

1. 2026-06-18
   days on market $109,000 Active 154 DOM
2. 2026-06-17
   days on market $109,000 Active 153 DOM
3. 2026-06-16
   days on market $109,000 Active 152 DOM
4. 2026-06-15
   days on market $109,000 Active 151 DOM
5. 2026-06-14
   days on market $109,000 Active 149 DOM
6. 2026-06-13
   days on market $109,000 Active 148 DOM
7. 2026-06-10
   days on market $109,000 Active 146 DOM
8. 2026-06-09
   days on market $109,000 Active 145 DOM
9. 2026-06-08
   days on market $109,000 Active 144 DOM
10. 2026-06-07
    days on market $109,000 Active 143 DOM
11. 2026-06-02
    days on market $109,000 Active 138 DOM
12. 2026-06-01
    days on market $109,000 Active 137 DOM
13. 2026-05-31
    days on market $109,000 Active 136 DOM
14. 2026-05-30
    days on market $109,000 Active 135 DOM
15. 2026-05-05
    price $109,000 984-char remark

    Show marketing remark (984 chars)

    Great new listing in Pot-Nets Bayside! Check out the new drone pictures!! Located in the heart of Bayside, all amenities are within a few blocks from this doublewide home, including Bayside Beach, Boat marinas, Fishing pier, Golf car paths, playgrounds, boat rentals and the famous Paradise Grill!! Having been recently upgraded, this home offers three good size bedrooms, two full baths, gourmet Kitchen and spacious, open Dining and Living Room, perfect for entertaining. There is a sliding door which opens to a nice front deck, side yard, fenced in back yard and shed which is large enough for golf car storage. The home features bamboo flooring in the main areas, white raised panel doors, new microwave, Refrigerator, garbage disposal, double sink and faucet in the Kitchen, plus new cabinets and countertops, Bathroom vanities and mirrors, new window blinds, and some windows have been replaced. Lot rent is $1116 per month which includes trash/recycle and yard waste pick up.

16. 2026-04-26
    status Active 984-char remark

    Show marketing remark (984 chars)

    Great new listing in Pot-Nets Bayside! Check out the new drone pictures!! Located in the heart of Bayside, all amenities are within a few blocks from this doublewide home, including Bayside Beach, Boat marinas, Fishing pier, Golf car paths, playgrounds, boat rentals and the famous Paradise Grill!! Having been recently upgraded, this home offers three good size bedrooms, two full baths, gourmet Kitchen and spacious, open Dining and Living Room, perfect for entertaining. There is a sliding door which opens to a nice front deck, side yard, fenced in back yard and shed which is large enough for golf car storage. The home features bamboo flooring in the main areas, white raised panel doors, new microwave, Refrigerator, garbage disposal, double sink and faucet in the Kitchen, plus new cabinets and countertops, Bathroom vanities and mirrors, new window blinds, and some windows have been replaced. Lot rent is $1116 per month which includes trash/recycle and yard waste pick up.

17. 2026-04-20
    status Pending 984-char remark

    Show marketing remark (984 chars)

    Great new listing in Pot-Nets Bayside! Check out the new drone pictures!! Located in the heart of Bayside, all amenities are within a few blocks from this doublewide home, including Bayside Beach, Boat marinas, Fishing pier, Golf car paths, playgrounds, boat rentals and the famous Paradise Grill!! Having been recently upgraded, this home offers three good size bedrooms, two full baths, gourmet Kitchen and spacious, open Dining and Living Room, perfect for entertaining. There is a sliding door which opens to a nice front deck, side yard, fenced in back yard and shed which is large enough for golf car storage. The home features bamboo flooring in the main areas, white raised panel doors, new microwave, Refrigerator, garbage disposal, double sink and faucet in the Kitchen, plus new cabinets and countertops, Bathroom vanities and mirrors, new window blinds, and some windows have been replaced. Lot rent is $1116 per month which includes trash/recycle and yard waste pick up.

18. 2026-01-08
    listed $125,000 Active 984-char remark

    Show marketing remark (984 chars)

    Great new listing in Pot-Nets Bayside! Check out the new drone pictures!! Located in the heart of Bayside, all amenities are within a few blocks from this doublewide home, including Bayside Beach, Boat marinas, Fishing pier, Golf car paths, playgrounds, boat rentals and the famous Paradise Grill!! Having been recently upgraded, this home offers three good size bedrooms, two full baths, gourmet Kitchen and spacious, open Dining and Living Room, perfect for entertaining. There is a sliding door which opens to a nice front deck, side yard, fenced in back yard and shed which is large enough for golf car storage. The home features bamboo flooring in the main areas, white raised panel doors, new microwave, Refrigerator, garbage disposal, double sink and faucet in the Kitchen, plus new cabinets and countertops, Bathroom vanities and mirrors, new window blinds, and some windows have been replaced. Lot rent is $1116 per month which includes trash/recycle and yard waste pick up.

ⓘ 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: $26,898
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$6,070
• − Repairs & maintenance: −$2,152
• − Management: −$2,152
• − Depreciation: −$3,171
• Taxable income: $5,613
• Est. tax owed @ 24.0%: −$1,347
• After-tax cash flow: $5,338/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

-12.8% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $109,000 BRIGHT MLS
• 2026-04-26 Relisted — BRIGHT MLS
• 2026-04-20 Pending — BRIGHT MLS
• 2026-01-08 Listed $125,000 BRIGHT MLS

Property tax history

-11.5%/yr

Latest (2025): $151 · -65.3% YoY. Source: county tax records.