27097 Windjammer Rd · Long Neck, DE 19966

$152,500

2 bd · 1.5 ba · 896 sqft · Manufactured public records · 14 Days on market

Built 2003 332 ac lot $170/sqft · 87% above area $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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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 just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

Key facts

• Community marina
• Storage shed
• Screened porch

Tags

• COMPOSITE DECK
• SCREENED PORCH
• STORAGE SHED
• GOLF CART CARPORT
• PRIVATE HOT TUB
• COMMUNITY MARINA

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $152k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (8.2% below list).
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $140k (8.2% below list) — sets the bar for cash-flow.
• Cap rate 9.2% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $22k (13%) 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 $140,024 (8.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.19% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $91,678
• List price: $152,500
• Delta: 68.96%
• Verdict: OVERPRICED
• Comps: 8 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	0.17mi	2/1.5	950 (+6%)	16mo	$115,000	$121	69

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-29,891
• Equity at exit: $22,738

10-year hold

• IRR: -12.5%
• Equity multiple: 0.25×
• Total profit: $-31,835
• Equity at exit: $13,185

Cash invested: $42,700 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,810 medium
• Mortgage (P&I): −$800
• Tax est. 1.5%: −$191 /mo · $2,288/yr
• Insurance: −$64
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$2
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-86

Break-even live

Break-even rent $1,919

Max offer price $140,024

Occupancy floor 100%

Sensitivity live

Price	-10% $19	-5% $-34	+0% $-86	+5% $-139	+10% $-192
Rent	-10% $-229	-5% $-158	+0% $-86	+5% $-15	+10% $57
Rate	-1.0pp $-9	-0.5pp $-47	base $-86	+0.5pp $-126	+1.0pp $-166

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: $38,125
• Closing costs: $4,575
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 18 events

1. 2026-06-18
   days on market $152,500 Active 14 DOM
2. 2026-06-17
   days on market $152,500 Active 13 DOM
3. 2026-06-16
   days on market $152,500 Active 12 DOM
4. 2026-06-15
   days on market $152,500 Active 11 DOM
5. 2026-06-14
   days on market $152,500 Active 9 DOM
6. 2026-06-13
   days on market $152,500 Active 8 DOM
7. 2026-06-10
   days on market $152,500 Active 6 DOM
8. 2026-06-09
   days on market $152,500 Active 5 DOM
9. 2026-06-08
   days on market $152,500 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    pricedays on marketlisting id $152,500 Active 3 DOM
12. 2026-04-30
    price $154,900 649-char remark

    Show marketing remark (649 chars)

    Nestled just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

13. 2026-04-08
    price $159,900 649-char remark

    Show marketing remark (649 chars)

    Nestled just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

14. 2026-02-16
    price $165,000 649-char remark

    Show marketing remark (649 chars)

    Nestled just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

15. 2026-01-29
    listed $175,000 Active 649-char remark

    Show marketing remark (649 chars)

    Nestled just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

16. 2026-01-28
    historical $175,000 649-char remark

    Show marketing remark (649 chars)

    Nestled just a closely to the bay in the sought‑after White House Beach community, this vibrant 3‑bedroom, 1.5 bath manufactured home offers true coastal living with a cheerful, beach‑paradise feel. The brightly colored exterior sets the tone for a warm and inviting interior, complemented by a spacious composite deck on either side of a relaxing screened‑in porch perfect for enjoying salty breezes and laid‑back afternoons. Whether you’re seeking a year‑round residence or a weekend escape, this home delivers the charm and ease of beach living in a prime location close to the water. Lot lease $874.25 Sale is contingent on park approval.

17. 2018-06-17
    historical
18. 2018-05-28
    listed $49,900

ⓘ 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: $21,723
• − Mortgage interest: −$8,542
• − Property taxes: −$2,288
• − Insurance: −$6,288
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − HOA: −$24
• − Depreciation: −$4,436
• Taxable loss: −$3,331
• Est. tax savings @ 24.0%: +$799
• After-tax cash flow: $-235/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

+210.4% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $154,900 BRIGHT MLS
• 2026-04-08 Price Changed $159,900 BRIGHT MLS
• 2026-02-16 Price Changed $165,000 BRIGHT MLS
• 2026-01-29 Listed $175,000 BRIGHT MLS
• 2026-01-28 Coming Soon $175,000 BRIGHT MLS
• 2018-06-17 Listing Removed — BRIGHT MLS
• 2018-05-28 Listed $49,900 BRIGHT MLS

Property tax history

+1.2%/yr

Latest (2025): $216 · -38.2% YoY. Source: county tax records.