26453 Cottontail Cv · Long Neck, DE 19966

$189,900

3 bd · 2.0 ba · 2,016 sqft · Manufactured public records · 117 Days on market

Built 2003 $94/sqft · 20% below area Est $206k · 8% under $2/mo HOA ↓ 7% since listing

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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 +11.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Nestled in the desirable Pot-Nets Lakeside community, 26453 Cottontail Cove offers a bright and inviting retreat backed by a peaceful perimeter of trees. This Amish-built home features a thoughtful layout with a spacious living room and a separate den, both accented with elegant crown molding. The kitchen and dining area are illuminated by natural light from skylights and feature laminate flooring, a built-in microwave, and an electric stove. For relaxation, the property includes a sunroom and a front deck, while the primary suite offers the comfort of plush carpeting, a ceiling fan, and a private walk-in closet. Practical additions like a tiled laundry room with stacked machines, a storage shed, and a paved three-car driveway make daily living a breeze. Life in Millsboro puts you in the heart of coastal luxury, just a short drive from the world-class Baywood Greens Golf Course and the vibrant boardwalk of Rehoboth Beach. As a resident of Pot-Nets, you enjoy "staycation" style amenities including access to multiple swimming pools, private beaches, and sport courts. Whether you are grabbing a bite at a community restaurant or utilizing the marina and boat docks, this location offers the perfect balance of recreation and relaxation.

Key facts

• Tiled laundry room
• Front deck
• Separate den

Tags

• POT-NETS LAKESIDE COMMUNITY
• SPACIOUS LIVING ROOM
• SEPARATE DEN
• SUNROOM
• FRONT DECK
• TILED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $838 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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; 2 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 42% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.43% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.91%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $205,896
• List price: $189,900
• Delta: -7.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.43×
• Total profit: $22,623
• Equity at exit: $28,315

10-year hold

• IRR: 19.8%
• Equity multiple: 2.67×
• Total profit: $88,572
• Equity at exit: $16,419

Cash invested: $53,172 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,724 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$2
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $838

Break-even live

Break-even rent $1,664

Max offer price $189,900

Occupancy floor 64%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23567 Devonshire Rd Millsboro, DE	3.0	2.5	2166	$2,000	$0.92	21d	1	0.99mi
34011 Harvard Ave Millsboro, DE	1.0–3.0	1.0–2.0	1048	$4,516	$4.31	14d	1	1.31mi

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: electricpool

Listing history 16 events

1. 2026-06-18
   days on market $189,900 Active 117 DOM
2. 2026-06-17
   days on market $189,900 Active 116 DOM
3. 2026-06-16
   days on market $189,900 Active 115 DOM
4. 2026-06-15
   days on market $189,900 Active 114 DOM
5. 2026-06-14
   days on market $189,900 Active 112 DOM
6. 2026-06-13
   pricedays on market $189,900 Active 111 DOM
7. 2026-06-10
   days on market $199,900 Active 109 DOM
8. 2026-06-09
   days on market $199,900 Active 108 DOM
9. 2026-06-08
   days on market $199,900 Active 107 DOM
10. 2026-06-07
    days on market $199,900 Active 106 DOM
11. 2026-06-02
    days on market $199,900 Active 101 DOM
12. 2026-06-01
    days on market $199,900 Active 100 DOM
13. 2026-05-31
    days on market $199,900 Active 99 DOM
14. 2026-05-30
    days on market $199,900 Active 98 DOM
15. 2026-04-15
    price $199,900 1260-char remark

    Show marketing remark (1260 chars)

    Nestled in the desirable Pot-Nets Lakeside community, 26453 Cottontail Cove offers a bright and inviting retreat backed by a peaceful perimeter of trees. This Amish-built home features a thoughtful layout with a spacious living room and a separate den, both accented with elegant crown molding. The kitchen and dining area are illuminated by natural light from skylights and feature laminate flooring, a built-in microwave, and an electric stove. For relaxation, the property includes a sunroom and a front deck, while the primary suite offers the comfort of plush carpeting, a ceiling fan, and a private walk-in closet. Practical additions like a tiled laundry room with stacked machines, a storage shed, and a paved three-car driveway make daily living a breeze. Life in Millsboro puts you in the heart of coastal luxury, just a short drive from the world-class Baywood Greens Golf Course and the vibrant boardwalk of Rehoboth Beach. As a resident of Pot-Nets, you enjoy "staycation" style amenities including access to multiple swimming pools, private beaches, and sport courts. Whether you are grabbing a bite at a community restaurant or utilizing the marina and boat docks, this location offers the perfect balance of recreation and relaxation.

16. 2026-02-21
    listed $215,000 Active 1260-char remark

    Show marketing remark (1260 chars)

    Nestled in the desirable Pot-Nets Lakeside community, 26453 Cottontail Cove offers a bright and inviting retreat backed by a peaceful perimeter of trees. This Amish-built home features a thoughtful layout with a spacious living room and a separate den, both accented with elegant crown molding. The kitchen and dining area are illuminated by natural light from skylights and feature laminate flooring, a built-in microwave, and an electric stove. For relaxation, the property includes a sunroom and a front deck, while the primary suite offers the comfort of plush carpeting, a ceiling fan, and a private walk-in closet. Practical additions like a tiled laundry room with stacked machines, a storage shed, and a paved three-car driveway make daily living a breeze. Life in Millsboro puts you in the heart of coastal luxury, just a short drive from the world-class Baywood Greens Golf Course and the vibrant boardwalk of Rehoboth Beach. As a resident of Pot-Nets, you enjoy "staycation" style amenities including access to multiple swimming pools, private beaches, and sport courts. Whether you are grabbing a bite at a community restaurant or utilizing the marina and boat docks, this location offers the perfect balance of recreation and relaxation.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% 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: $32,689
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,615
• − Management: −$2,615
• − HOA: −$24
• − Depreciation: −$5,524
• Taxable income: $7,475
• Est. tax owed @ 24.0%: −$1,794
• After-tax cash flow: $8,258/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

-7.0% since first listed

2 events — show timeline

• 2026-04-15 Price Changed $199,900 BRIGHT MLS
• 2026-02-21 Listed $215,000 BRIGHT MLS

Property tax history

-5.9%/yr

Latest (2025): $340 · -43.1% YoY. Source: county tax records.