21196 M St Unit M-14 · Rehoboth Beach, DE 19971

$149,900

2 bd · 2.0 ba · 924 sqft · SingleFamily · 79 Days on market

Built 1987 Fair condition 4,356 sqft lot $162/sqft · 30% above area Est $115k · 30% over

---

Why this score? — see what drove the C+ 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
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home was nicely remodeled in 2019 & it is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a sandy beach, crabbing pier, boat slips (for rent), a community boat ramp & more. The home’s living room features an electric fireplace & vaulted ceilings to make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer rack & a cedar-lined linen closet. The main bedroom uses the double closet in the hall and the walk-in closet in the bedroom for clothes. The walk-in closet also houses the stack washer & dryer. The second bedroom is at the front of the home. The second full bath is near bedroom #2, so that bedroom feels like a suite, too. That bath has a step-in shower and an antique dry sink that’s been converted to a sink vanity. Great outdoor living spaces include a big screened porch (with custom vinyl panels), a boardwalk-style deck, and a small paver patio area in front the shed. The shed has electric, so you can charge your golf cart! The community allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $744.29/mt. includes water service & trash/recycle. This Lease renews annually on January 1. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & there’s a nominal fee for pool passes. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. No short-term rentals, but rental of 6 months or longer may be allowed with Park Management approval. Financing may be available to qualified borrowers from only a few Lenders that specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

Key facts

• Sandy beach
• Boat slips
• Community boat ramp

Tags

• BAYFRONT POOL
• TENNIS COURTS
• SANDY BEACH
• CRABBING PIER
• BOAT SLIPS
• COMMUNITY BOAT RAMP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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; 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) 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 $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.61% ✓
• Cap rate: 13.28%
• Cash-on-cash: 24.95%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

• ARV (median comp): $115,379
• List price: $149,900
• Delta: 29.92%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21229 M St	0.07mi	3/2.0 (+1)	924 (0%)	2mo	$133,500	$144	90
21206 N St Unit N-11	0.05mi	2/2.0	980 (+6%)	1mo	$125,000	$128	86
21233 N St Unit N 22	0.11mi	2/2.0	975 (+6%)	3mo	$107,500	$110	84
21263 K St #37217	0.15mi	2/2.0	860 (-7%)	10mo	$140,000	$163	74
21256 M St #36659	0.11mi	3/2.0 (+1)	980 (+6%)	10mo	$115,000	$117	71
21264 G St Unit G-16	0.15mi	3/2.0 (+1)	980 (+6%)	15mo	$150,000	$153	66
21720 B St	0.56mi	3/2.0 (+1)	924 (0%)	4mo	$63,000	$68	65
21776 E St Unit E-11	0.63mi	2/1.5	900 (-3%)	2mo	$112,000	$124	63
35971 Jake Dr	0.24mi	3/2.0 (+1)	1,040 (+13%)	1mo	$148,000	$142	62
21730 E St Unit E-29	0.56mi	3/2.0 (+1)	1,030 (+12%)	2mo	$128,000	$124	48
21704 C St Unit 4068-LOT C-45	0.53mi	3/1.0 (+1)	980 (+6%)	11mo	$75,000	$77	47
21726 D St	0.55mi	3/1.0 (+1)	1,000 (+8%)	10mo	$95,000	$95	44

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,287
• Equity at exit: $22,351

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $37,099
• Equity at exit: $12,961

Cash invested: $41,972 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,416 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $412

Break-even live

Break-even rent $1,894

Max offer price $149,900

Occupancy floor 78%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36400 Warwick Dr Rehoboth Beach, DE	3.0	2.5	792	$3,500	$4.42	43d	1	0.55mi

Listing history 24 events

1. 2026-06-18
   days on market $149,900 Active 79 DOM
2. 2026-06-17
   days on market $149,900 Active 78 DOM
3. 2026-06-16
   days on market $149,900 Active 77 DOM
4. 2026-06-15
   remarks 666-char remark
5. 2026-06-15
   days on market $149,900 Active 76 DOM
6. 2026-06-14
   days on market $149,900 Active 74 DOM
7. 2026-06-13
   days on market $149,900 Active 73 DOM
8. 2026-06-10
   days on market $149,900 Active 71 DOM
9. 2026-06-09
   days on market $149,900 Active 70 DOM
10. 2026-06-08
    days on market $149,900 Active 69 DOM
11. 2026-06-07
    days on market $149,900 Active 68 DOM
12. 2026-06-05
    days on market $149,900 Active 65 DOM
13. 2026-06-03
    days on market $149,900 Active 64 DOM
14. 2026-06-02
    days on market $149,900 Active 63 DOM
15. 2026-06-01
    days on market $149,900 Active 62 DOM
16. 2026-05-31
    days on market $149,900 Active 61 DOM
17. 2026-05-30
    days on market $149,900 Active 60 DOM
18. 2026-05-18
    price $149,900 2599-char remark

    Show marketing remark (2599 chars)

    This home was nicely remodeled in 2019 & it is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a sandy beach, crabbing pier, boat slips (for rent), a community boat ramp & more. The home’s living room features an electric fireplace & vaulted ceilings to make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer rack & a cedar-lined linen closet. The main bedroom uses the double closet in the hall and the walk-in closet in the bedroom for clothes. The walk-in closet also houses the stack washer & dryer. The second bedroom is at the front of the home. The second full bath is near bedroom #2, so that bedroom feels like a suite, too. That bath has a step-in shower and an antique dry sink that’s been converted to a sink vanity. Great outdoor living spaces include a big screened porch (with custom vinyl panels), a boardwalk-style deck, and a small paver patio area in front the shed. The shed has electric, so you can charge your golf cart! The community allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $744.29/mt. includes water service & trash/recycle. This Lease renews annually on January 1. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & there’s a nominal fee for pool passes. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. No short-term rentals, but rental of 6 months or longer may be allowed with Park Management approval. Financing may be available to qualified borrowers from only a few Lenders that specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

19. 2026-04-14
    price $155,000 2599-char remark

    Show marketing remark (2599 chars)

    This home was nicely remodeled in 2019 & it is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a sandy beach, crabbing pier, boat slips (for rent), a community boat ramp & more. The home’s living room features an electric fireplace & vaulted ceilings to make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer rack & a cedar-lined linen closet. The main bedroom uses the double closet in the hall and the walk-in closet in the bedroom for clothes. The walk-in closet also houses the stack washer & dryer. The second bedroom is at the front of the home. The second full bath is near bedroom #2, so that bedroom feels like a suite, too. That bath has a step-in shower and an antique dry sink that’s been converted to a sink vanity. Great outdoor living spaces include a big screened porch (with custom vinyl panels), a boardwalk-style deck, and a small paver patio area in front the shed. The shed has electric, so you can charge your golf cart! The community allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $744.29/mt. includes water service & trash/recycle. This Lease renews annually on January 1. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & there’s a nominal fee for pool passes. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. No short-term rentals, but rental of 6 months or longer may be allowed with Park Management approval. Financing may be available to qualified borrowers from only a few Lenders that specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

20. 2026-03-31
    listed $160,000 Active 2599-char remark

    Show marketing remark (2599 chars)

    This home was nicely remodeled in 2019 & it is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a sandy beach, crabbing pier, boat slips (for rent), a community boat ramp & more. The home’s living room features an electric fireplace & vaulted ceilings to make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer rack & a cedar-lined linen closet. The main bedroom uses the double closet in the hall and the walk-in closet in the bedroom for clothes. The walk-in closet also houses the stack washer & dryer. The second bedroom is at the front of the home. The second full bath is near bedroom #2, so that bedroom feels like a suite, too. That bath has a step-in shower and an antique dry sink that’s been converted to a sink vanity. Great outdoor living spaces include a big screened porch (with custom vinyl panels), a boardwalk-style deck, and a small paver patio area in front the shed. The shed has electric, so you can charge your golf cart! The community allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $744.29/mt. includes water service & trash/recycle. This Lease renews annually on January 1. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & there’s a nominal fee for pool passes. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. No short-term rentals, but rental of 6 months or longer may be allowed with Park Management approval. Financing may be available to qualified borrowers from only a few Lenders that specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

21. 2023-05-20
    soldstatus $139,000 Closed 2472-char remark

    Show marketing remark (2472 chars)

    This home is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a beach, crabbing pier, boat slips (for rent) & a community boat ramp. The 14’x68’ singlewide was nicely remodeled in 2019. The living room features an electric fireplace & the vaulted ceilings make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer & a cedar-lined linen closet. Currently the main bedroom uses the double closet in the hall, and the walk-in closet in the bedroom is also for clothing with a stack washer & dryer located there, too. The second bedroom is nicely sized & is at the front of the home. The second full bath is near bedroom #2 - it has an antique sink vanity. Excellent outdoor living spaces include a large screened porch (with custom, winter vinyl panels), a boardwalk-style deck & a small patio area in front of 1 of 2 sheds. Golf carts are allowed in Rehoboth Bay. The community also allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $632.87/mt. includes water service & trash/recycle. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & pool passes are approx. 5/$100. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. (Note: Family & friends may always visit, but rentals are NOT permitted in this community. ) Financing may be available to qualified borrowers from only a very few Lenders who specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

22. 2023-04-13
    status Pending 2472-char remark

    Show marketing remark (2472 chars)

    This home is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a beach, crabbing pier, boat slips (for rent) & a community boat ramp. The 14’x68’ singlewide was nicely remodeled in 2019. The living room features an electric fireplace & the vaulted ceilings make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer & a cedar-lined linen closet. Currently the main bedroom uses the double closet in the hall, and the walk-in closet in the bedroom is also for clothing with a stack washer & dryer located there, too. The second bedroom is nicely sized & is at the front of the home. The second full bath is near bedroom #2 - it has an antique sink vanity. Excellent outdoor living spaces include a large screened porch (with custom, winter vinyl panels), a boardwalk-style deck & a small patio area in front of 1 of 2 sheds. Golf carts are allowed in Rehoboth Bay. The community also allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $632.87/mt. includes water service & trash/recycle. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & pool passes are approx. 5/$100. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. (Note: Family & friends may always visit, but rentals are NOT permitted in this community. ) Financing may be available to qualified borrowers from only a very few Lenders who specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

23. 2023-04-04
    historical Active Under Contract 2472-char remark

    Show marketing remark (2472 chars)

    This home is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a beach, crabbing pier, boat slips (for rent) & a community boat ramp. The 14’x68’ singlewide was nicely remodeled in 2019. The living room features an electric fireplace & the vaulted ceilings make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer & a cedar-lined linen closet. Currently the main bedroom uses the double closet in the hall, and the walk-in closet in the bedroom is also for clothing with a stack washer & dryer located there, too. The second bedroom is nicely sized & is at the front of the home. The second full bath is near bedroom #2 - it has an antique sink vanity. Excellent outdoor living spaces include a large screened porch (with custom, winter vinyl panels), a boardwalk-style deck & a small patio area in front of 1 of 2 sheds. Golf carts are allowed in Rehoboth Bay. The community also allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $632.87/mt. includes water service & trash/recycle. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & pool passes are approx. 5/$100. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. (Note: Family & friends may always visit, but rentals are NOT permitted in this community. ) Financing may be available to qualified borrowers from only a very few Lenders who specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

24. 2023-03-28
    listed $145,000 Active 2472-char remark

    Show marketing remark (2472 chars)

    This home is just 6.5 miles to the famous Rehoboth boardwalk…but why leave the community when the amenities include a bayfront pool, tennis courts, playgrounds, a beach, crabbing pier, boat slips (for rent) & a community boat ramp. The 14’x68’ singlewide was nicely remodeled in 2019. The living room features an electric fireplace & the vaulted ceilings make that room feel extra spacious. Newer flooring & fixtures throughout. The eat-in kitchen adjoins the living room. It has space for a dinette set & there is a breakfast bar for casual dining. The kitchen has granite countertops, a tile backsplash & stainless steel appliances. There is a fridge with ice maker, smooth-top electric range, built-in microwave, dishwasher & a disposal. The main bedroom is to the rear of the home. It has an elegant en Suite bath, which includes a contemporary double-sink vanity, lighted mirror, a large tiled shower with a multi-spray shower head, towel warmer & a cedar-lined linen closet. Currently the main bedroom uses the double closet in the hall, and the walk-in closet in the bedroom is also for clothing with a stack washer & dryer located there, too. The second bedroom is nicely sized & is at the front of the home. The second full bath is near bedroom #2 - it has an antique sink vanity. Excellent outdoor living spaces include a large screened porch (with custom, winter vinyl panels), a boardwalk-style deck & a small patio area in front of 1 of 2 sheds. Golf carts are allowed in Rehoboth Bay. The community also allows 2 pets (no fences, though). Leasehold Interest: Lot Rent of approx. $632.87/mt. includes water service & trash/recycle. Homeowner pays electric, sewer, cable/Internet, lawn maintenance & pool passes are approx. 5/$100. Hometown America, the community owner, requires an Application from the Buyer (and all adult occupants 18-year-of-age or older), with acceptance based on the following criteria: 1.)income verification, 2.)credit bureau score, plus evaluation of debt-to-income ratio, and 3.)criminal background check. (Note: Family & friends may always visit, but rentals are NOT permitted in this community. ) Financing may be available to qualified borrowers from only a very few Lenders who specialize in installment/chattel loans for manufactured homes on leased land. Closing costs will include 3.75% DMV Doc Fee & Settlement Agent fee.

ⓘ 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 7/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°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: $28,992
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$6,274
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$4,361
• Taxable income: $3,072
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $4,210/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 · 12 photos

Fair 45/100 Moderate rehab

This home, while in fair condition, requires moderate repairs and maintenance to improve its value. Key updates include painting the exterior, replacing ceiling fans, and updating the kitchen appliances.

Repairs flagged

• Minor Ceiling fan in porch — Visible wear
• Minor Ceiling fan in living room — Visible wear

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace ceiling fans — Improves air circulation and aesthetics
• Both Replace kitchen appliances — Modernizes the kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Ceiling fan in porch · Visible wear	Minor	$500–3,000
Ceiling fan in living room · Visible wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace ceiling fans — Improves air circulation and aesthetics ↑
• Both Replace kitchen appliances — Modernizes the kitchen and adds value ↑

ⓘ 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

+3.4% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $149,900 BRIGHT MLS
• 2026-04-14 Price Changed $155,000 BRIGHT MLS
• 2026-03-31 Listed $160,000 BRIGHT MLS
• 2023-05-20 Sold (MLS) $139,000 BRIGHT MLS
• 2023-04-13 Pending — BRIGHT MLS
• 2023-04-04 Contingent — BRIGHT MLS
• 2023-03-28 Listed $145,000 BRIGHT MLS