35081 Cedar Ln · Long Neck, DE 19966

$125,000

3 bd · 1.0 ba · 996 sqft · Manufactured · 161 Days on market

Built 1969 253 sqft lot $126/sqft · 20% above area Est $104k · 20% over $2/mo HOA

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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
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your coastal retreat at White House Beach, where easy living and bay breezes set the tone for everyday life. Partial views of the bay greet you from the front windows, while a welcoming wood deck invites you to slow down, relax outdoors, and soak in the salty air. Renovated in 2023, this home has been thoughtfully refreshed in a soft, tranquil coastal palette that feels light, airy, and effortlessly inviting. New windows, luxury vinyl plank flooring throughout, added drywall, and recessed lighting create a polished yet relaxed atmosphere. The updated kitchen features crisp white cabinetry, stainless steel appliances, and plenty of space for a dining table, flowing seamlessly into the living room for comfortable everyday living and easy entertaining. A well-planned addition enhances the home with a bright sunroom and an extra bedroom, adding flexibility and space. Just off the kitchen, a versatile room with laundry hookups can easily serve as a home office, guest bedroom, or spacious laundry area, adapting to your lifestyle needs. The hall bath has been beautifully updated with an extra-wide tiled shower featuring glass doors and a window that fills the space with natural light, along with a marble-topped dual vanity for a touch of elegance. Down the hall, the primary bedroom offers a peaceful retreat with generous space and multiple windows. A rear door leads to the backyard deck, perfect for entertaining, outdoor dining, or simply unwinding. A fenced side yard provides a safe space for pets or play, while a large shed with an electric-equipped workshop area is ideal for hobbies, storage, or creative projects. Living in White House Beach means LOW GROUND RENT, enjoying an active coastal lifestyle with outstanding community amenities including a beach, marina, tennis and pickleball courts, volleyball and basketball courts, and playground equipment. Whether you’re boating, biking, or watching the sunset over the bay, this home offers your own little slice of paradise. Come experience the relaxed coastal charm and make it yours.

Key facts

• 4 parking spots
• Built 1969
• Listed 161 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 34% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.77% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.12%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $104,034
• List price: $125,000
• Delta: 20.15%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27543 Whelk Ln #9683	0.27mi	2/1.5 (-1)	950 (-5%)	16mo	$115,000	$121	60

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $6,688
• Equity at exit: $18,638

10-year hold

• IRR: 14.5%
• Equity multiple: 2.18×
• Total profit: $41,398
• Equity at exit: $10,808

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 70 Landlord-Friendly
• State Delaware: 70 Landlord-Friendly · D+7
• County: — inherits STATE
• City: — inherits STATE

Court of Common Pleas hears L&T; moderate-paced. No state rent control.

Methodology + full state rankings →

ZIP-level market 19966

• Home prices YoY: -6.4%
• Active inventory: 865
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,208 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$2
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $418

Break-even live

Break-even rent $1,679

Max offer price $125,000

Occupancy floor 76%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 19 events

1. 2026-06-18
   days on market $125,000 Active 161 DOM
2. 2026-06-17
   days on market $125,000 Active 160 DOM
3. 2026-06-16
   days on market $125,000 Active 159 DOM
4. 2026-06-15
   days on market $125,000 Active 158 DOM
5. 2026-06-14
   days on market $125,000 Active 156 DOM
6. 2026-06-13
   days on market $125,000 Active 155 DOM
7. 2026-06-10
   pricedays on market $125,000 Active 153 DOM
8. 2026-06-09
   days on market $140,000 Active 152 DOM
9. 2026-06-08
   days on market $140,000 Active 151 DOM
10. 2026-06-07
    days on market $140,000 Active 150 DOM
11. 2026-06-02
    days on market $140,000 Active 145 DOM
12. 2026-06-01
    days on market $140,000 Active 144 DOM
13. 2026-05-31
    days on market $140,000 Active 143 DOM
14. 2026-05-30
    days on market $140,000 Active 142 DOM
15. 2026-03-31
    price $140,000 2078-char remark

    Show marketing remark (2078 chars)

    Welcome to your coastal retreat at White House Beach, where easy living and bay breezes set the tone for everyday life. Partial views of the bay greet you from the front windows, while a welcoming wood deck invites you to slow down, relax outdoors, and soak in the salty air. Renovated in 2023, this home has been thoughtfully refreshed in a soft, tranquil coastal palette that feels light, airy, and effortlessly inviting. New windows, luxury vinyl plank flooring throughout, added drywall, and recessed lighting create a polished yet relaxed atmosphere. The updated kitchen features crisp white cabinetry, stainless steel appliances, and plenty of space for a dining table, flowing seamlessly into the living room for comfortable everyday living and easy entertaining. A well-planned addition enhances the home with a bright sunroom and an extra bedroom, adding flexibility and space. Just off the kitchen, a versatile room with laundry hookups can easily serve as a home office, guest bedroom, or spacious laundry area, adapting to your lifestyle needs. The hall bath has been beautifully updated with an extra-wide tiled shower featuring glass doors and a window that fills the space with natural light, along with a marble-topped dual vanity for a touch of elegance. Down the hall, the primary bedroom offers a peaceful retreat with generous space and multiple windows. A rear door leads to the backyard deck, perfect for entertaining, outdoor dining, or simply unwinding. A fenced side yard provides a safe space for pets or play, while a large shed with an electric-equipped workshop area is ideal for hobbies, storage, or creative projects. Living in White House Beach means LOW GROUND RENT, enjoying an active coastal lifestyle with outstanding community amenities including a beach, marina, tennis and pickleball courts, volleyball and basketball courts, and playground equipment. Whether you’re boating, biking, or watching the sunset over the bay, this home offers your own little slice of paradise. Come experience the relaxed coastal charm and make it yours.

16. 2026-01-23
    price $145,000 2078-char remark

    Show marketing remark (2078 chars)

    Welcome to your coastal retreat at White House Beach, where easy living and bay breezes set the tone for everyday life. Partial views of the bay greet you from the front windows, while a welcoming wood deck invites you to slow down, relax outdoors, and soak in the salty air. Renovated in 2023, this home has been thoughtfully refreshed in a soft, tranquil coastal palette that feels light, airy, and effortlessly inviting. New windows, luxury vinyl plank flooring throughout, added drywall, and recessed lighting create a polished yet relaxed atmosphere. The updated kitchen features crisp white cabinetry, stainless steel appliances, and plenty of space for a dining table, flowing seamlessly into the living room for comfortable everyday living and easy entertaining. A well-planned addition enhances the home with a bright sunroom and an extra bedroom, adding flexibility and space. Just off the kitchen, a versatile room with laundry hookups can easily serve as a home office, guest bedroom, or spacious laundry area, adapting to your lifestyle needs. The hall bath has been beautifully updated with an extra-wide tiled shower featuring glass doors and a window that fills the space with natural light, along with a marble-topped dual vanity for a touch of elegance. Down the hall, the primary bedroom offers a peaceful retreat with generous space and multiple windows. A rear door leads to the backyard deck, perfect for entertaining, outdoor dining, or simply unwinding. A fenced side yard provides a safe space for pets or play, while a large shed with an electric-equipped workshop area is ideal for hobbies, storage, or creative projects. Living in White House Beach means LOW GROUND RENT, enjoying an active coastal lifestyle with outstanding community amenities including a beach, marina, tennis and pickleball courts, volleyball and basketball courts, and playground equipment. Whether you’re boating, biking, or watching the sunset over the bay, this home offers your own little slice of paradise. Come experience the relaxed coastal charm and make it yours.

17. 2026-01-08
    listed $150,000 Active 2078-char remark

    Show marketing remark (2078 chars)

    Welcome to your coastal retreat at White House Beach, where easy living and bay breezes set the tone for everyday life. Partial views of the bay greet you from the front windows, while a welcoming wood deck invites you to slow down, relax outdoors, and soak in the salty air. Renovated in 2023, this home has been thoughtfully refreshed in a soft, tranquil coastal palette that feels light, airy, and effortlessly inviting. New windows, luxury vinyl plank flooring throughout, added drywall, and recessed lighting create a polished yet relaxed atmosphere. The updated kitchen features crisp white cabinetry, stainless steel appliances, and plenty of space for a dining table, flowing seamlessly into the living room for comfortable everyday living and easy entertaining. A well-planned addition enhances the home with a bright sunroom and an extra bedroom, adding flexibility and space. Just off the kitchen, a versatile room with laundry hookups can easily serve as a home office, guest bedroom, or spacious laundry area, adapting to your lifestyle needs. The hall bath has been beautifully updated with an extra-wide tiled shower featuring glass doors and a window that fills the space with natural light, along with a marble-topped dual vanity for a touch of elegance. Down the hall, the primary bedroom offers a peaceful retreat with generous space and multiple windows. A rear door leads to the backyard deck, perfect for entertaining, outdoor dining, or simply unwinding. A fenced side yard provides a safe space for pets or play, while a large shed with an electric-equipped workshop area is ideal for hobbies, storage, or creative projects. Living in White House Beach means LOW GROUND RENT, enjoying an active coastal lifestyle with outstanding community amenities including a beach, marina, tennis and pickleball courts, volleyball and basketball courts, and playground equipment. Whether you’re boating, biking, or watching the sunset over the bay, this home offers your own little slice of paradise. Come experience the relaxed coastal charm and make it yours.

18. 2025-12-30
    historical $150,000 2078-char remark

    Show marketing remark (2078 chars)

    Welcome to your coastal retreat at White House Beach, where easy living and bay breezes set the tone for everyday life. Partial views of the bay greet you from the front windows, while a welcoming wood deck invites you to slow down, relax outdoors, and soak in the salty air. Renovated in 2023, this home has been thoughtfully refreshed in a soft, tranquil coastal palette that feels light, airy, and effortlessly inviting. New windows, luxury vinyl plank flooring throughout, added drywall, and recessed lighting create a polished yet relaxed atmosphere. The updated kitchen features crisp white cabinetry, stainless steel appliances, and plenty of space for a dining table, flowing seamlessly into the living room for comfortable everyday living and easy entertaining. A well-planned addition enhances the home with a bright sunroom and an extra bedroom, adding flexibility and space. Just off the kitchen, a versatile room with laundry hookups can easily serve as a home office, guest bedroom, or spacious laundry area, adapting to your lifestyle needs. The hall bath has been beautifully updated with an extra-wide tiled shower featuring glass doors and a window that fills the space with natural light, along with a marble-topped dual vanity for a touch of elegance. Down the hall, the primary bedroom offers a peaceful retreat with generous space and multiple windows. A rear door leads to the backyard deck, perfect for entertaining, outdoor dining, or simply unwinding. A fenced side yard provides a safe space for pets or play, while a large shed with an electric-equipped workshop area is ideal for hobbies, storage, or creative projects. Living in White House Beach means LOW GROUND RENT, enjoying an active coastal lifestyle with outstanding community amenities including a beach, marina, tennis and pickleball courts, volleyball and basketball courts, and playground equipment. Whether you’re boating, biking, or watching the sunset over the bay, this home offers your own little slice of paradise. Come experience the relaxed coastal charm and make it yours.

19. 2023-07-31
    price $141,000

ⓘ 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 · 95% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $26,496
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$6,150
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − HOA: −$24
• − Depreciation: −$3,636
• Taxable income: $3,569
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $4,160/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

-0.7% since first listed

5 events — show timeline

• 2026-03-31 Price Changed $140,000 BRIGHT MLS
• 2026-01-23 Price Changed $145,000 BRIGHT MLS
• 2026-01-08 Listed $150,000 BRIGHT MLS
• 2025-12-30 Coming Soon $150,000 BRIGHT MLS
• 2023-07-31 Price Changed $141,000 BRIGHT MLS

Property tax history

-4.1%/yr

Latest (2025): $131 · -33.7% YoY. Source: county tax records.