33 Gunpowder Ln · Lewes, DE 19971

$95,000

2 bd · 2.0 ba · 980 sqft · Manufactured · 69 Days on market

Built 1981 3,484 sqft lot $97/sqft · 12% below area Est $108k · 12% under

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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
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theater, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. Freshly painted and nicely updated! This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and space for a dinette set. There is also a built-in buffet in the dining area for your fancy dishes. Kitchen appliances include a smooth-top electric range, a range hood and a fridge (there’s a base cabinet next to the sink that could be fit a dishwasher, if you want to add one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Some newer sub-flooring & flooring. HVAC PAC unit (new Dec. 2025). Water heater is approx. 4 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is approx. $958/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from a few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent fee.

Key facts

• Built-in buffet
• Walk-in closet
• Double closets

Tags

• SPLIT BEDROOM PLAN
• CURVED BREAKFAST BAR
• BUILT-IN BUFFET
• WALK-IN CLOSET
• GARDEN TUB
• DOUBLE CLOSETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 1.7% in Lewes — 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 67/100 on livability (#40 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $657 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $76k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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 B-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. 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: 2.43% ✓
• Cap rate: 21.00%
• Cash-on-cash: 52.52%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (median comp): $107,882
• List price: $95,000
• Delta: -11.94%
• 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
1 Candlelight Ln #2542	0.08mi	2/1.0	1,100 (+12%)	6mo	$114,000	$104	66

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: 50.5%
• Equity multiple: 3.21×
• Total profit: $58,786
• Equity at exit: $14,165

10-year hold

• IRR: 55.9%
• Equity multiple: 6.52×
• Total profit: $146,804
• Equity at exit: $8,214

Cash invested: $26,600 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,305 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $1,164

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 44%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32015 Azure Ave Rehoboth Beach, DE	1.0–3.0	1.0–2.0	1054	$2,095	$1.99	44d	1	0.60mi
15 Colgate Dr Rehoboth Beach, DE	3.0	2.0	1120	$2,275	$2.03	21d	1	0.63mi
300 Pebble Dr #318 Rehoboth Beach, DE	2.0	2.0	940	$1,800	$1.91	21d	1	0.72mi
35948 Haven Dr #201 Rehoboth Beach, DE	2.0	2.0	858	$1,800	$2.10	21d	1	0.79mi
17829 Callaway Dr #37 Lewes, DE	3.0	2.0	1000	$2,000	$2.00	44d	1	0.98mi
36916 Crooked Hammock Way Lewes, DE	2.0–3.0	2.0	1172	$1,990	$1.70	44d	1	1.14mi
107 Strawberry Way Rehoboth Beach, DE	3.0	2.0	1025	$2,750	$2.68	44d	1	1.17mi
10150 Rockland St Lewes, DE	1.0–3.0	1.5–2.5	1217	$3,375	$2.77	44d	1	1.41mi

Listing history 23 events

1. 2026-06-18
   days on market $95,000 Active 69 DOM
2. 2026-06-17
   days on market $95,000 Active 68 DOM
3. 2026-06-16
   days on market $95,000 Active 67 DOM
4. 2026-06-15
   days on market $95,000 Active 66 DOM
5. 2026-06-14
   days on market $95,000 Active 64 DOM
6. 2026-06-13
   days on market $95,000 Active 63 DOM
7. 2026-06-10
   days on market $95,000 Active 61 DOM
8. 2026-06-09
   days on market $95,000 Active 60 DOM
9. 2026-06-08
   days on market $95,000 Active 59 DOM
10. 2026-06-07
    days on market $95,000 Active 58 DOM
11. 2026-06-05
    days on market $95,000 Active 55 DOM
12. 2026-06-03
    days on market $95,000 Active 54 DOM
13. 2026-06-02
    days on market $95,000 Active 53 DOM
14. 2026-06-01
    days on market $95,000 Active 52 DOM
15. 2026-05-31
    days on market $95,000 Active 51 DOM
16. 2026-05-30
    days on market $95,000 Active 50 DOM
17. 2026-04-28
    price $95,000 2561-char remark

    Show marketing remark (2561 chars)

    East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theater, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. Freshly painted and nicely updated! This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and space for a dinette set. There is also a built-in buffet in the dining area for your fancy dishes. Kitchen appliances include a smooth-top electric range, a range hood and a fridge (there’s a base cabinet next to the sink that could be fit a dishwasher, if you want to add one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Some newer sub-flooring & flooring. HVAC PAC unit (new Dec. 2025). Water heater is approx. 4 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is approx. $958/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from a few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent fee.

18. 2026-04-10
    listed $99,000 Active 2561-char remark

    Show marketing remark (2561 chars)

    East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theater, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. Freshly painted and nicely updated! This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and space for a dinette set. There is also a built-in buffet in the dining area for your fancy dishes. Kitchen appliances include a smooth-top electric range, a range hood and a fridge (there’s a base cabinet next to the sink that could be fit a dishwasher, if you want to add one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Some newer sub-flooring & flooring. HVAC PAC unit (new Dec. 2025). Water heater is approx. 4 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is approx. $958/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from a few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent fee.

19. 2025-11-14
    soldstatus $76,000 Closed 2565-char remark

    Show marketing remark (2565 chars)

    Colonial East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theatre, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and plenty of space for a dinette set. There’s a built-in buffet in the dining area. Kitchen appliances include a smooth-top electric range, a range hood, countertop microwave, and a fridge (there’s a base cabinet next to the sink that could be replaced with a dishwasher, if you want one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Newer sub-flooring & flooring throughout. Newer Trane HVAC PAC unit. Water heater is approx. 3 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is currently $896.36/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from only a very few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent Fee.

20. 2025-10-31
    status Pending 2565-char remark

    Show marketing remark (2565 chars)

    Colonial East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theatre, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and plenty of space for a dinette set. There’s a built-in buffet in the dining area. Kitchen appliances include a smooth-top electric range, a range hood, countertop microwave, and a fridge (there’s a base cabinet next to the sink that could be replaced with a dishwasher, if you want one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Newer sub-flooring & flooring throughout. Newer Trane HVAC PAC unit. Water heater is approx. 3 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is currently $896.36/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from only a very few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent Fee.

21. 2025-10-16
    historical Active Under Contract 2565-char remark

    Show marketing remark (2565 chars)

    Colonial East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theatre, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and plenty of space for a dinette set. There’s a built-in buffet in the dining area. Kitchen appliances include a smooth-top electric range, a range hood, countertop microwave, and a fridge (there’s a base cabinet next to the sink that could be replaced with a dishwasher, if you want one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Newer sub-flooring & flooring throughout. Newer Trane HVAC PAC unit. Water heater is approx. 3 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is currently $896.36/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from only a very few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent Fee.

22. 2025-10-14
    listed $79,900 Active 2565-char remark

    Show marketing remark (2565 chars)

    Colonial East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theatre, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and plenty of space for a dinette set. There’s a built-in buffet in the dining area. Kitchen appliances include a smooth-top electric range, a range hood, countertop microwave, and a fridge (there’s a base cabinet next to the sink that could be replaced with a dishwasher, if you want one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Newer sub-flooring & flooring throughout. Newer Trane HVAC PAC unit. Water heater is approx. 3 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is currently $896.36/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from only a very few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a Settlement Agent Fee.

23. 2025-10-13
    historical $79,900 2565-char remark

    Show marketing remark (2565 chars)

    Colonial East is located in the "Midway" area of Rehoboth, so you'll be an equal distance - about 4 miles - to the Rehoboth boardwalk or the Lewes public beach! And there is a water park, movie theatre, fitness center with racquetball, and restaurants just a short distance from the community. You can hop on the DART bus, too, to reach the beaches. This 1981 Ritz Craft Fashion Craft-model home features a split bedroom plan, so it is like having two main suites. The living room opens to the spacious kitchen. The kitchen has a large, curved breakfast bar and plenty of space for a dinette set. There’s a built-in buffet in the dining area. Kitchen appliances include a smooth-top electric range, a range hood, countertop microwave, and a fridge (there’s a base cabinet next to the sink that could be replaced with a dishwasher, if you want one). The laundry area, with a full-size washer and dryer, is next to the kitchen. The main bedroom is to the rear of the home and it has a walk-in closet and is en Suite. That bath has a large garden tub/shower. The second full bath has a hall entry door and a private doorway from the second bedroom to give it that “en Suite” feeling. That bath has a standard tub/shower. The second bedroom has double closets, so there is plenty of storage space. Newer sub-flooring & flooring throughout. Newer Trane HVAC PAC unit. Water heater is approx. 3 years old. Replacement windows. 10’x20’ SilverTop screened porch for great outdoor living space. Storage shed. Property is subject to a transferrable, annually-renewable leasehold interest: Lot Rent is currently $896.36/mt. (renews annually with any increases capped as per 25 Del. C. Sec. 7050-7054). Lot rent includes membership to the outdoor pool. Trash/recycle and the State’s Relocation Trust Fund (RTF) are extra fees are added to the base lot rent. Buyer pays electric, water, sewer & metered gas (LP). A Park application is required, and a Buyer will be accepted as a Resident 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: Rentals are NOT permitted in this community - but friends & family may always visit. ) Financing may be available to qualified borrowers from only a very few Lenders that specialize in installment/chattel loans for mobile/manufactured homes on leased land. Closing costs include a real estate transfer tax (3.75% DMV Doc Fee) & a 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 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: $27,656
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − Depreciation: −$2,764
• Taxable income: $13,246
• Est. tax owed @ 24.0%: −$3,179
• After-tax cash flow: $10,791/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: 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 — Lewes

• Score: 67/100
• State rank: #40
• US rank: #11077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 31,938
• 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

+18.9% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $95,000 BRIGHT MLS
• 2026-04-10 Listed $99,000 BRIGHT MLS
• 2025-11-14 Sold (MLS) $76,000 BRIGHT MLS
• 2025-10-31 Pending — BRIGHT MLS
• 2025-10-16 Contingent — BRIGHT MLS
• 2025-10-14 Listed $79,900 BRIGHT MLS
• 2025-10-13 Coming Soon $79,900 BRIGHT MLS

Property tax history

-9.6%/yr

Latest (2025): $163 · -62.1% YoY. Source: county tax records.