32179 Hidden Acre Dr · Millville, DE 19945

$179,900

3 bd · 2.0 ba · 1,650 sqft · Manufactured · 65 Days on market

Built 1990 9,583 sqft lot $109/sqft · 45% below area Est $329k · 45% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 Bedroom, 2 Full Bath mobile home, with over 1,650 sq. ft of living space. This property is need of renovations and upgrades. The kitchen is a nice size, with plenty of space to make upgrades and add wanted features. There are hardwoods throughout the house that need some TLC and patching. The main bedroom has a full bath and there's one full bath in the main hallway. The exterior features an above ground swimming pool, extended deck, and a hot tub in a Gazebo. The property will need a clean out/trash out. Property values in the neighborhood are increasing with new builds, modulars, and trailers being added with the right upgrades this could make a sound investment.

Key facts

• Hot tub in a gazebo
• Extended deck
• 9,583 sq ft lot

Tags

• ABOVE GROUND SWIMMING POOL
• EXTENDED DECK
• HOT TUB IN A GAZEBO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.4% in Millville — 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 (#49 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: schools F, 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: 281 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $180k implies a 375% gain — meaningful room to come down on a strong offer.

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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

• ARV (median comp): $329,347
• List price: $179,900
• Delta: -45.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.5%
• Equity multiple: 4.02×
• Total profit: $152,334
• Equity at exit: $162,068

10-year hold

• IRR: 34.0%
• Equity multiple: 9.05×
• Total profit: $405,672
• Equity at exit: $349,506

Cash invested: $50,372 (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 19945

• Home prices YoY: 16.9%
• Active inventory: 281
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,444 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $854

Break-even live

Break-even rent $1,362

Max offer price $179,900

Occupancy floor 60%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35205 Tupelo Cir Frankford, DE	1.0–3.0	1.0–2.0	1046	$2,444	$2.34	13d	21	1.21mi

Listing history 16 events

1. 2026-06-18
   days on market $179,900 Active 65 DOM
2. 2026-06-17
   days on market $179,900 Active 64 DOM
3. 2026-06-16
   days on market $179,900 Active 63 DOM
4. 2026-06-15
   days on market $179,900 Active 62 DOM
5. 2026-06-14
   days on market $179,900 Active 60 DOM
6. 2026-06-13
   days on market $179,900 Active 59 DOM
7. 2026-06-10
   days on market $179,900 Active 57 DOM
8. 2026-06-09
   days on market $179,900 Active 56 DOM
9. 2026-06-08
   days on market $179,900 Active 55 DOM
10. 2026-06-07
    days on market $179,900 Active 54 DOM
11. 2026-06-02
    days on market $179,900 Active 49 DOM
12. 2026-06-01
    days on market $179,900 Active 48 DOM
13. 2026-05-31
    days on market $179,900 Active 47 DOM
14. 2026-05-30
    days on market $179,900 Active 46 DOM
15. 2026-04-14
    listed $189,900 Active 675-char remark

    Show marketing remark (675 chars)

    3 Bedroom, 2 Full Bath mobile home, with over 1,650 sq. ft of living space. This property is need of renovations and upgrades. The kitchen is a nice size, with plenty of space to make upgrades and add wanted features. There are hardwoods throughout the house that need some TLC and patching. The main bedroom has a full bath and there's one full bath in the main hallway. The exterior features an above ground swimming pool, extended deck, and a hot tub in a Gazebo. The property will need a clean out/trash out. Property values in the neighborhood are increasing with new builds, modulars, and trailers being added with the right upgrades this could make a sound investment.

16. 1992-04-17
    soldstatus $37,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $695 · $58/mo
• Projected year-2 tax: $869 · $72/mo
• Expected delta: +$174/yr (+$15/mo · 25.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥101°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,328
• − Mortgage interest: −$10,077
• − Property taxes: −$695
• − Insurance: −$900
• − Repairs & maintenance: −$2,346
• − Management: −$2,346
• − Depreciation: −$5,233
• Taxable income: $7,730
• Est. tax owed @ 24.0%: −$1,855
• After-tax cash flow: $8,398/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 — Millville

• Score: 64/100
• State rank: #49
• US rank: #13839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,093
• Population (ZIP): 8,917

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 (77%)
• Race & ethnicity: White 77% Black 12% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 46.51%
• Current HPI: 322.2407
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+401.1% since first listed

2 events — show timeline

• 2026-04-14 Listed $189,900 BRIGHT MLS
• 1992-04-17 Sold (Public Records) $37,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $695 · -25.4% YoY. Source: county tax records.