33907 Camelia Dr · Lewes, DE 19958

$100,000

3 bd · 2.0 ba · 552 sqft · Manufactured · 150 Days on market

Built 1973 37 ac lot $181/sqft · 71% above area ↓ 10% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This move-in-ready 3-bedroom, 2-bath home offers an affordable opportunity to enjoy true coastal living in the waterfront community of Love Creek Park. Located along scenic Love Creek, residents enjoy access to fishing, crabbing, and a nearby marina, while staying close to Lewes and Rehoboth Beach. Recent updates include new luxury vinyl plank flooring, an upgraded kitchen with soft-close cabinetry, modern appliances, a dishwasher, and a refrigerator with front-access water and ice. Both bathrooms feature new cabinets, sinks, and faucets, with the primary bathroom offering a walk-in shower. The home also includes central HVAC and ceiling fans in every room, ensuring comfort in every season. Whether you’re seeking a primary residence, second home, or low-maintenance coastal retreat, this property delivers upgrades, comfort, and a location that makes coastal living off the Rehoboth Bay easy

Key facts

• 37.04 acre lot
• Parking
• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.4% 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: Rents flat; 818 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 $691 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 + 0.8% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($88k) 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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1973 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.05% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.64%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

• ARV (median comp): $58,322
• List price: $100,000
• Delta: 71.46%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.77% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.33×
• Total profit: $9,204
• Equity at exit: $14,910

10-year hold

• IRR: 15.2%
• Equity multiple: 2.06×
• Total profit: $29,765
• Equity at exit: $8,646

Cash invested: $28,000 (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 19958

• Rents YoY: 0.8%
• Active inventory: 818
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $464

Break-even live

Break-even rent $1,458

Max offer price $100,000

Occupancy floor 72%

Sensitivity live

Price	-10% $534	-5% $499	+0% $464	+5% $430	+10% $395
Rent	-10% $303	-5% $384	+0% $464	+5% $545	+10% $626
Rate	-1.0pp $515	-0.5pp $490	base $464	+0.5pp $439	+1.0pp $412

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $100,000 Active 150 DOM
2. 2026-06-17
   days on market $100,000 Active 149 DOM
3. 2026-06-16
   days on market $100,000 Active 148 DOM
4. 2026-06-15
   days on market $100,000 Active 147 DOM
5. 2026-06-14
   days on market $100,000 Active 145 DOM
6. 2026-06-13
   days on market $100,000 Active 144 DOM
7. 2026-06-10
   days on market $100,000 Active 142 DOM
8. 2026-06-09
   days on market $100,000 Active 141 DOM
9. 2026-06-08
   days on market $100,000 Active 140 DOM
10. 2026-06-07
    days on market $100,000 Active 139 DOM
11. 2026-06-05
    days on market $100,000 Active 136 DOM
12. 2026-06-03
    days on market $100,000 Active 135 DOM
13. 2026-06-02
    days on market $100,000 Active 134 DOM
14. 2026-06-01
    days on market $100,000 Active 133 DOM
15. 2026-05-31
    days on market $100,000 Active 132 DOM
16. 2026-05-30
    days on market $100,000 Active 131 DOM
17. 2026-04-13
    price $100,000 907-char remark

    Show marketing remark (907 chars)

    This move-in-ready 3-bedroom, 2-bath home offers an affordable opportunity to enjoy true coastal living in the waterfront community of Love Creek Park. Located along scenic Love Creek, residents enjoy access to fishing, crabbing, and a nearby marina, while staying close to Lewes and Rehoboth Beach. Recent updates include new luxury vinyl plank flooring, an upgraded kitchen with soft-close cabinetry, modern appliances, a dishwasher, and a refrigerator with front-access water and ice. Both bathrooms feature new cabinets, sinks, and faucets, with the primary bathroom offering a walk-in shower. The home also includes central HVAC and ceiling fans in every room, ensuring comfort in every season. Whether you’re seeking a primary residence, second home, or low-maintenance coastal retreat, this property delivers upgrades, comfort, and a location that makes coastal living off the Rehoboth Bay easy

18. 2026-04-11
    price $90,000 907-char remark

    Show marketing remark (907 chars)

    This move-in-ready 3-bedroom, 2-bath home offers an affordable opportunity to enjoy true coastal living in the waterfront community of Love Creek Park. Located along scenic Love Creek, residents enjoy access to fishing, crabbing, and a nearby marina, while staying close to Lewes and Rehoboth Beach. Recent updates include new luxury vinyl plank flooring, an upgraded kitchen with soft-close cabinetry, modern appliances, a dishwasher, and a refrigerator with front-access water and ice. Both bathrooms feature new cabinets, sinks, and faucets, with the primary bathroom offering a walk-in shower. The home also includes central HVAC and ceiling fans in every room, ensuring comfort in every season. Whether you’re seeking a primary residence, second home, or low-maintenance coastal retreat, this property delivers upgrades, comfort, and a location that makes coastal living off the Rehoboth Bay easy

19. 2026-01-20
    listed $111,000 Active 907-char remark

    Show marketing remark (907 chars)

    This move-in-ready 3-bedroom, 2-bath home offers an affordable opportunity to enjoy true coastal living in the waterfront community of Love Creek Park. Located along scenic Love Creek, residents enjoy access to fishing, crabbing, and a nearby marina, while staying close to Lewes and Rehoboth Beach. Recent updates include new luxury vinyl plank flooring, an upgraded kitchen with soft-close cabinetry, modern appliances, a dishwasher, and a refrigerator with front-access water and ice. Both bathrooms feature new cabinets, sinks, and faucets, with the primary bathroom offering a walk-in shower. The home also includes central HVAC and ceiling fans in every room, ensuring comfort in every season. Whether you’re seeking a primary residence, second home, or low-maintenance coastal retreat, this property delivers upgrades, comfort, and a location that makes coastal living off the Rehoboth Bay easy

20. 2026-01-17
    historical $111,000 907-char remark

    Show marketing remark (907 chars)

    This move-in-ready 3-bedroom, 2-bath home offers an affordable opportunity to enjoy true coastal living in the waterfront community of Love Creek Park. Located along scenic Love Creek, residents enjoy access to fishing, crabbing, and a nearby marina, while staying close to Lewes and Rehoboth Beach. Recent updates include new luxury vinyl plank flooring, an upgraded kitchen with soft-close cabinetry, modern appliances, a dishwasher, and a refrigerator with front-access water and ice. Both bathrooms feature new cabinets, sinks, and faucets, with the primary bathroom offering a walk-in shower. The home also includes central HVAC and ceiling fans in every room, ensuring comfort in every season. Whether you’re seeking a primary residence, second home, or low-maintenance coastal retreat, this property delivers upgrades, comfort, and a location that makes coastal living off the Rehoboth Bay easy

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°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: $24,547
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$6,025
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$2,909
• Taxable income: $4,584
• Est. tax owed @ 24.0%: −$1,100
• After-tax cash flow: $4,474/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): 31,938
• Household income: $97,197
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 545.0

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% Two or more races 6% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Romanian 6% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -204.07%
• Current HPI: 299.0736
• Rent YoY: ▲ 0.77%
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

-9.9% since first listed

4 events — show timeline

• 2026-04-13 Price Changed $100,000 BRIGHT MLS
• 2026-04-11 Price Changed $90,000 BRIGHT MLS
• 2026-01-20 Listed $111,000 BRIGHT MLS
• 2026-01-17 Coming Soon $111,000 BRIGHT MLS

Property tax history

-4.2%/yr

Latest (2025): $135 · -39.2% YoY. Source: county tax records.