33817 Allen St · Selbyville, DE 19975

$549,990

4 bd · 3.5 ba · 2,561 sqft · MultiFamily · 29 Days on market

Built 2026 Poor condition

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Bay Knolls, a beautiful community near Ocean View offering new villa homes for sale in Selbyville, DE. These luxury new-construction homes are each finished in one of our designer-curated Looks and offer 4 beds, 3.5 baths, and 2,542 sq. ft. , including first-floor primary suites and spacious 2-car garages. Enjoy time with family, friends, and neighbors at the clubhouse and pool, or venture out to nearby Bethany Beach, Fenwick Island, and other Delaware picturesque beaches. Immerse yourself in the superior craftsmanship of our new-construction villas, thoughtfully designed to elevate your lifestyle. Achieve a beautiful and cohesive interior and know exactly what it'll cost with ou

Key facts

• Screened patio
• Second floor loft
• Private bath

Tags

• FIRST FLOOR PRIMARY SUITES
• SCREENED PATIO
• GE PROFILE APPLIANCES
• PRIVATE BATH
• WALK-IN CLOSET
• SECOND FLOOR LOFT

Property features AI

Finance

• Other:
• Financial info: List price $569,990
• HOA & community:

Exterior

• Parking: 2 parking spaces
• Security:
• Utilities:
• Home design: Seaview II floor plan; Spec/new construction
• Construction:
• Exterior features: Property located at 33817 Allen St, Selbyville, DE 19975

Interior

• Kitchen:
• Bedrooms: 4 bedrooms
• Flooring:
• Bathrooms: 3 full bathrooms and 1 half bathroom
• Heating & cooling:
• Interior features: Open living area totaling 2561; Spec home (new construction, Seaview II plan)
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $550k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $542k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.2% in Selbyville — 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 64/100 on livability (#50 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A; Watch: cost of living C-, amenities F, commute 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: 344 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $16k 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

• It's been on market 29 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.

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 $541,740 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-40,894
• Equity at exit: $82,005

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $26,734
• Equity at exit: $47,553

Cash invested: $153,997 (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 19975

• Home prices YoY: -11.2%
• Active inventory: 344
• Price-to-rent: 31.8×

Monthly cashflow live

• Estimated rent: $5,768 medium
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$687 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,211
• Net cashflow: $756

Break-even live

Break-even rent $4,811

Max offer price $549,990

Occupancy floor 82%

Sensitivity live

Price	-10% $1,136	-5% $946	+0% $756	+5% $566	+10% $376
Rent	-10% $300	-5% $528	+0% $756	+5% $984	+10% $1,212
Rate	-1.0pp $1,033	-0.5pp $896	base $756	+0.5pp $613	+1.0pp $468

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$5,768
Total (4 units)			$5,768

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: $137,498
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $549,990 Active 29 DOM
2. 2026-06-18
   price $549,990 Active 26 DOM
3. 2026-06-18
   days on market $559,990 Active 26 DOM
4. 2026-06-17
   days on market $559,990 Active 25 DOM
5. 2026-06-16
   days on market $559,990 Active 24 DOM
6. 2026-06-15
   days on market $559,990 Active 23 DOM
7. 2026-06-14
   days on market $559,990 Active 21 DOM
8. 2026-06-13
   days on market $559,990 Active 20 DOM
9. 2026-06-10
   days on market $559,990 Active 18 DOM
10. 2026-06-09
    pricedays on market $559,990 Active 17 DOM
11. 2026-06-08
    days on market $569,990 Active 16 DOM
12. 2026-06-07
    days on market $569,990 Active 15 DOM
13. 2026-06-02
    days on market $569,990 Active 10 DOM
14. 2026-06-01
    days on market $569,990 Active 9 DOM
15. 2026-05-31
    days on market $569,990 Active 8 DOM
16. 2026-05-30
    days on market $569,990 Active 7 DOM

ⓘ 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 ≥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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,216
• − Mortgage interest: −$30,808
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,537
• − Management: −$5,537
• − Depreciation: −$16,000
• Taxable income: $334
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $8,990/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 · 1 photo

Poor 20/100 Extensive rehab

The property is in poor condition with significant repairs and maintenance needed, including road repair and landscaping. These improvements would substantially increase its value.

Repairs flagged

• Major Road repair — The road is visibly worn and debris-laden.
• Major Landscaping — No visible landscaping in the independent image, suggesting a lack of maintenance.

Value-add opportunities

• Both Road repair and landscaping — Both improvements would enhance the property's curb appeal and safety, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Road repair · The road is visibly worn and debris-laden.	Major	$15,000–50,000
Landscaping · No visible landscaping in the independent image, suggesting a lack of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Road repair and landscaping — Both improvements would enhance the property's curb appeal and safety, making it more attractive to potential buyers and renters. ↑

ⓘ 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: 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 — Selbyville

• Score: 64/100
• State rank: #50
• US rank: #13901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,356

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Slovak 4% Russian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -43.61%
• Current HPI: 345.1746
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0