20077 Atlantic Avenue Plan · Rehoboth Beach, DE 19971

$159,995

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 93 Days on market

Excellent condition $132/sqft · 52% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN FOR DEPOSITS - Welcome to this stunning brand-new manufactured home, offering a spacious open floor plan with 3 bedrooms, 2baths, and a fantastic open floor plan. This modern home is equipped with high-quality features, including luxury vinyl throughout and energy-star stainless steel kitchen appliances, smart thermostat & solar ready electric. The stylish kitchen boasts a side-by-side refrigerator with water and ice dispenser, a gas stove, dishwasher, and elegant hardwood cabinets. The large kitchen island provides ample space for cooking and entertaining. A separate laundry room with included washer & dryer adds convenience to your daily routine and additional storage space inside your home. The expansive primary suite features a walk-in closet and an en-suite bath with a walk-in shower. This home comes with a 1-year manufacturer warranty, plus an additional 6-year extended warranty for your peace of mind. Outside, you ll find an 8x10 matching shed, door-side gutters, storm doors, upgraded utilities, and hardscaping along with a new driveway and sidewalk. Call or stop by for more information, this home will be sold before it arrives. Located in our vibrant beach community, you ll enjoy fantastic amenities including two pools, a dog park, BBQs and pavilion, a playground, and a bathhouse. Just two miles from the beach, this home is ideally situated directly across the street from shopping, dining, and the state trail system, offering endless opportunities for outdoor

Key facts

• Hardwood cabinets
• Solar ready electric
• Dishwasher

Tags

• SMART THERMOSTAT
• SOLAR READY ELECTRIC
• SIDE-BY-SIDE REFRIGERATOR
• GAS STOVE
• DISHWASHER
• HARDWOOD CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 1.1% in Rehoboth Beach — 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 71/100 on livability (#20 in DE) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, employment A+; Watch: crime F, commute F, cost of living F.
• Cape Henlopen School District (town): math 42% / reading 55% proficiency, ranked #5 of 26 in DE (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 331 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

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 $145,595 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.56% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.32%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $105,000
• List price: $159,995
• Delta: 52.38%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20005 Atlantic Ave	0.12mi	3/2.0	1,200 (-1%)	13mo	$151,000	$126	82
19606 Queen St #31	0.43mi	3/2.0	1,288 (+6%)	2mo	$63,400	$49	69
20013 Atlantic Ave #3399	0.45mi	3/2.0	1,200 (-1%)	10mo	$130,290	$109	68
19900 Sea Air Ave Unit A-66	0.12mi	2/1.0 (-1)	1,150 (-5%)	16mo	$58,000	$50	62
19728 Princess St #3329	0.38mi	2/2.0 (-1)	1,344 (+10%)	21mo	$125,000	$93	43

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $29,566
• Equity at exit: $23,856

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $97,304
• Equity at exit: $13,833

Cash invested: $44,799 (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 19971

• Active inventory: 331
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $871

Break-even live

Break-even rent $1,400

Max offer price $159,995

Occupancy floor 60%

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: $39,999
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Sanibel Cir #3516 Rehoboth Beach, DE	2.0	2.0	1150	$2,000	$1.74	21d	1	0.79mi
36400 Warwick Dr Rehoboth Beach, DE	3.0	2.5	792	$3,500	$4.42	43d	1	0.84mi
3300 Sanibel Cir #3301 Rehoboth Beach, DE	3.0	2.0	1395	$2,100	$1.51	43d	1	0.86mi
107 Strawberry Way Rehoboth Beach, DE	3.0	2.0	1025	$2,750	$2.68	43d	1	0.92mi
35948 Haven Dr #201 Rehoboth Beach, DE	2.0	2.0	858	$1,800	$2.10	21d	1	0.92mi
300 Pebble Dr #318 Rehoboth Beach, DE	2.0	2.0	940	$1,800	$1.91	21d	1	0.99mi
32015 Azure Ave Rehoboth Beach, DE	1.0–3.0	1.0–2.0	1054	$2,375	$2.25	43d	1	1.39mi

Listing history 17 events

1. 2026-06-18
   days on market $159,995 Active 93 DOM
2. 2026-06-17
   days on market $159,995 Active 92 DOM
3. 2026-06-16
   days on market $159,995 Active 91 DOM
4. 2026-06-15
   days on market $159,995 Active 90 DOM
5. 2026-06-14
   days on market $159,995 Active 88 DOM
6. 2026-06-13
   days on market $159,995 Active 87 DOM
7. 2026-06-10
   days on market $159,995 Active 85 DOM
8. 2026-06-09
   days on market $159,995 Active 84 DOM
9. 2026-06-08
   days on market $159,995 Active 83 DOM
10. 2026-06-07
    days on market $159,995 Active 82 DOM
11. 2026-06-05
    days on market $159,995 Active 79 DOM
12. 2026-06-03
    days on market $159,995 Active 78 DOM
13. 2026-06-02
    days on market $159,995 Active 77 DOM
14. 2026-06-01
    days on market $159,995 Active 76 DOM
15. 2026-05-31
    days on market $159,995 Active 75 DOM
16. 2026-05-30
    days on market $159,995 Active 74 DOM
17. 2026-03-17
    listed $159,995 Active 1508-char remark

    Show marketing remark (1508 chars)

    OPEN FOR DEPOSITS - Welcome to this stunning brand-new manufactured home, offering a spacious open floor plan with 3 bedrooms, 2baths, and a fantastic open floor plan. This modern home is equipped with high-quality features, including luxury vinyl throughout and energy-star stainless steel kitchen appliances, smart thermostat & solar ready electric. The stylish kitchen boasts a side-by-side refrigerator with water and ice dispenser, a gas stove, dishwasher, and elegant hardwood cabinets. The large kitchen island provides ample space for cooking and entertaining. A separate laundry room with included washer & dryer adds convenience to your daily routine and additional storage space inside your home. The expansive primary suite features a walk-in closet and an en-suite bath with a walk-in shower. This home comes with a 1-year manufacturer warranty, plus an additional 6-year extended warranty for your peace of mind. Outside, you ll find an 8x10 matching shed, door-side gutters, storm doors, upgraded utilities, and hardscaping along with a new driveway and sidewalk. Call or stop by for more information, this home will be sold before it arrives. Located in our vibrant beach community, you ll enjoy fantastic amenities including two pools, a dog park, BBQs and pavilion, a playground, and a bathhouse. Just two miles from the beach, this home is ideally situated directly across the street from shopping, dining, and the state trail system, offering endless opportunities for outdoor

ⓘ 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: $30,021
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$4,654
• Taxable income: $8,401
• Est. tax owed @ 24.0%: −$2,016
• After-tax cash flow: $8,432/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

Excellent 100/100 None rehab

This brand-new manufactured home is in excellent condition with modern features and a spacious floor plan, ready for immediate occupancy.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value.
• Both Smart home integration — Improves convenience and adds modern appeal.
• Both Smart security system — Enhances safety and adds modern appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Both Smart home integration — Improves convenience and adds modern appeal. ↑
• Both Smart security system — Enhances safety and adds modern appeal. ↑

ⓘ 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: Cape Henlopen School District
• NCES district ID: 1000170
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $60,196
• Composite: 42.47/100
• National rank: #3214
• State rank: #5 of 26 in DE

Livability — Rehoboth Beach

• Score: 71/100
• State rank: #20
• US rank: #6520

Category grades

Amenities A+ Commute F Cost of living F Crime F Employment A+ Housing B- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 14,886
• Metro: Salisbury, MD-DE
• Population (ZIP): 14,886
• Household income: $102,146
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 317.0

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 (88%)
• Race & ethnicity: White 88% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▼ -220.39%
• Current HPI: 353.3977
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-17 Listed $159,995 Zillow