14845 Coastal Hwy #47247 · Lewes, DE 19968

$255,000

4 bd · 2.0 ba · 2,002 sqft · SingleFamily · 261 Days on market

Built 1998 Poor condition Est $498k · 49% under

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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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom+den. New roof in2023. New 5 zone mini split heat pump and air 4 ton unit. Kitchen remodel 2024 master bath remodeling 2023 outdoors storage space and green house currently rented for 2600 month

Key facts

• Green house
• New roof
• Kitchen remodel

Tags

• NEW ROOF
• NEW MINI SPLIT HEAT PUMP
• KITCHEN REMODEL
• MASTER BATH REMODELING
• OUTDOOR STORAGE SPACE
• GREEN HOUSE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (4.6% below list).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: 391 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 $2k of loan paydown is wiped out by about $8k 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 261 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $195k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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: 0.95% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $498,498
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29135 Finch Ln	0.44mi	3/2.0 (-1)	1,924 (-4%)	18mo	$480,000	$249	53

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-31,166
• Equity at exit: $38,021

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-13,962
• Equity at exit: $22,048

Cash invested: $71,400 (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 19968

• Home prices YoY: -11.2%
• Active inventory: 391
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,432 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $159

Break-even live

Break-even rent $2,231

Max offer price $255,000

Occupancy floor 88%

Sensitivity live

Price	-10% $335	-5% $247	+0% $159	+5% $71	+10% $-17
Rent	-10% $-33	-5% $63	+0% $159	+5% $255	+10% $351
Rate	-1.0pp $287	-0.5pp $224	base $159	+0.5pp $93	+1.0pp $26

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $255,000 Active 261 DOM
2. 2026-06-17
   days on market $255,000 Active 260 DOM
3. 2026-06-16
   days on market $255,000 Active 259 DOM
4. 2026-06-15
   days on market $255,000 Active 258 DOM
5. 2026-06-14
   days on market $255,000 Active 256 DOM
6. 2026-06-13
   days on market $255,000 Active 255 DOM
7. 2026-06-10
   days on market $255,000 Active 253 DOM
8. 2026-06-09
   days on market $255,000 Active 252 DOM
9. 2026-06-08
   days on market $255,000 Active 251 DOM
10. 2026-06-07
    days on market $255,000 Active 250 DOM
11. 2026-06-05
    days on market $255,000 Active 247 DOM
12. 2026-06-03
    days on market $255,000 Active 246 DOM
13. 2026-06-02
    days on market $255,000 Active 245 DOM
14. 2026-06-01
    days on market $255,000 Active 244 DOM
15. 2026-05-31
    days on market $255,000 Active 243 DOM
16. 2026-05-30
    days on market $255,000 Active 242 DOM
17. 2025-09-26
    listed $255,000 Active 204-char remark

    Show marketing remark (204 chars)

    4 bedroom+den. New roof in2023. New 5 zone mini split heat pump and air 4 ton unit. Kitchen remodel 2024 master bath remodeling 2023 outdoors storage space and green house currently rented for 2600 month

18. 2021-09-17
    status Pending 533-char remark

    Show marketing remark (533 chars)

    Great option on the east side of Coastal Hwy in Milton. This 3 Bedroom/ 2 Bath manufactured home has just over 2,000 sqft of living space and is ready for your updates. AC and furnace was updated 5yrs ago. Close to downtown Milton and a short drive to Broadkill, Lewes & Rehoboth beaches plus shopping and all the great restaurants in the area. Property being sold in as is condition, seller willing to provide a credit to buyer towards roof replacement and new septic system. Lots of potential for this location. Call today. .

19. 2021-09-17
    soldstatus $195,000 Closed 533-char remark

    Show marketing remark (533 chars)

    Great option on the east side of Coastal Hwy in Milton. This 3 Bedroom/ 2 Bath manufactured home has just over 2,000 sqft of living space and is ready for your updates. AC and furnace was updated 5yrs ago. Close to downtown Milton and a short drive to Broadkill, Lewes & Rehoboth beaches plus shopping and all the great restaurants in the area. Property being sold in as is condition, seller willing to provide a credit to buyer towards roof replacement and new septic system. Lots of potential for this location. Call today. .

20. 2021-07-05
    historical Active Under Contract 533-char remark

    Show marketing remark (533 chars)

    Great option on the east side of Coastal Hwy in Milton. This 3 Bedroom/ 2 Bath manufactured home has just over 2,000 sqft of living space and is ready for your updates. AC and furnace was updated 5yrs ago. Close to downtown Milton and a short drive to Broadkill, Lewes & Rehoboth beaches plus shopping and all the great restaurants in the area. Property being sold in as is condition, seller willing to provide a credit to buyer towards roof replacement and new septic system. Lots of potential for this location. Call today. .

21. 2021-06-29
    price $195,000 533-char remark

    Show marketing remark (533 chars)

    Great option on the east side of Coastal Hwy in Milton. This 3 Bedroom/ 2 Bath manufactured home has just over 2,000 sqft of living space and is ready for your updates. AC and furnace was updated 5yrs ago. Close to downtown Milton and a short drive to Broadkill, Lewes & Rehoboth beaches plus shopping and all the great restaurants in the area. Property being sold in as is condition, seller willing to provide a credit to buyer towards roof replacement and new septic system. Lots of potential for this location. Call today. .

22. 2021-06-08
    listed $225,000 Active 533-char remark

    Show marketing remark (533 chars)

    Great option on the east side of Coastal Hwy in Milton. This 3 Bedroom/ 2 Bath manufactured home has just over 2,000 sqft of living space and is ready for your updates. AC and furnace was updated 5yrs ago. Close to downtown Milton and a short drive to Broadkill, Lewes & Rehoboth beaches plus shopping and all the great restaurants in the area. Property being sold in as is condition, seller willing to provide a credit to buyer towards roof replacement and new septic system. Lots of potential for this location. Call today. .

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 17 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: $29,181
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − Depreciation: −$7,418
• Taxable loss: −$2,290
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $2,456/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

This property requires extensive repairs and updates to its exterior and interior, significantly impacting its value. Immediate focus should be on repairing the exterior and interior to improve its condition and appeal.

Repairs flagged

• Major exterior siding — Severe peeling and discoloration.
• Major exterior paint — Severe peeling and discoloration.
• Major interior walls — No photos provided, but poor exterior suggests poor interior condition.
• Major roof — New roof installed in 2023, but independent image shows poor condition.
• Major flooring — No photos provided, but poor exterior suggests poor interior condition.
• Major systems — No photos provided, but poor exterior suggests poor interior condition.

Value-add opportunities

• Both paint and siding repair — Improves curb appeal and interior condition.
• Both interior updates — Improves living space and rental appeal.
• Both landscaping — Enhances curb appeal and rental appeal.
• Both new flooring — Improves living space and rental appeal.
• Both new systems — Improves living space and rental appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe peeling and discoloration.	Major	$15,000–50,000
exterior paint · Severe peeling and discoloration.	Major	$15,000–50,000
interior walls · No photos provided, but poor exterior suggests poor interior condition.	Major	$15,000–50,000
roof · New roof installed in 2023, but independent image shows poor condition.	Major	$15,000–50,000
flooring · No photos provided, but poor exterior suggests poor interior condition.	Major	$15,000–50,000
systems · No photos provided, but poor exterior suggests poor interior condition.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both paint and siding repair — Improves curb appeal and interior condition. ↑
• Both interior updates — Improves living space and rental appeal. ↑
• Both landscaping — Enhances curb appeal and rental appeal. ↑
• Both new flooring — Improves living space and rental appeal. ↑
• Both new systems — Improves living space and rental appeal. ↑

ⓘ 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: 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

• City population: 31,938
• Population (ZIP): 14,791

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 (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 5% Slovak 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica, Dominican Republic
• Languages at home: 92% English-only · Spanish 5% Vietnamese 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: ▼ -43.93%
• Current HPI: 349.5055
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+13.3% since first listed

6 events — show timeline

• 2025-09-26 Listed $255,000 Fizber.com
• 2021-09-17 Pending — BRIGHT MLS
• 2021-09-17 Sold (MLS) $195,000 BRIGHT MLS
• 2021-07-05 Contingent — BRIGHT MLS
• 2021-06-29 Price Changed $195,000 BRIGHT MLS
• 2021-06-08 Listed $225,000 BRIGHT MLS