33479 Buttercup St · Long Neck, DE 19958

$120,000

2 bd · 2.0 ba · 1,180 sqft · Manufactured · 101 Days on market

Built 1986 3,049 sqft lot $102/sqft · at area comps Est $119k · at est.

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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 +7.0/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New price! $120,000 — a smart opportunity to own this beautifully updated 1986 home with sunroom, screened porch, and newer shed. What a charmer! Step into this extensively updated home in Angola Beach & Estates through a bright and cheerful sunroom, where newer windows fill the space with natural light. The home opens to a central living area with cathedral ceilings and a ceiling fan, creating a spacious and inviting atmosphere. At the heart of the home, the eat-in kitchen offers coastal painted cabinetry, a pantry, tile backsplash, and a door leading to a relaxing screened porch woth a storage area—an easy place to enjoy the outdoors throughout the seasons. The split floor plan offers privacy and comfort. The owner’s suite is located at the rear of the home and features board and batten trim work, a walk-in closet, and an ensuite bathroom with a walk-in shower and linen storage. A second bedroom and full bath at the front of the home also include a board and batten accent wall and provide versatile space for guests, family, or a home office, with 2 closets for plenty of storage. Since purchasing the home, the sellers have made numerous updates that contribute to the home’s long-term comfort and reliability. Improvements include a durable standing seam metal roof, efficient furnace and air conditioning system, energy efficient double-pane windows throughout the home, updated doors, repiping of the plumbing system, installation of an interior water shutoff valve, installation of a water softener (with replaceable filters) and replacement of the water heater. Additional improvements include newer gutters and downspouts, updated skirting, new vapor barrier and insulation, and a remote-controlled awning at the front entrance. The home also includes a newer 10' x 14' Dutch-style shed, offering convenient storage for tools, beach gear, or seasonal items. Residents of Angola Beach & Estates enjoy a blend of conveniences designed for easy coastal living. The reasonable monthly lot rent includes water, sewer, and trash service. Optional amenities—available for an additional fee—include two swimming pools, floating dock marina slips, and a storage yard. The community also offers a beautifully renovated community center with resident-planned activities, along with tennis and basketball courts, playgrounds, and generous common areas with pet relief stations. Residency application required: buyers must pass background and credit checks, along with income and asset verification. This home is not being sold furnished; however, select items may be available for purchase.

Key facts

• Walk-in closet
• Sunroom
• Screened porch

Tags

• SUNROOM
• EAT-IN KITCHEN
• SCREENED PORCH
• BOARD AND BATTEN TRIM WORK
• WALK-IN CLOSET
• ENSUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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.
• 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $120k implies a 220% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.80% ✓
• Cap rate: 15.07%
• Cash-on-cash: 31.35%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (median comp): $118,784
• List price: $120,000
• Delta: 1.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.7%
• Equity multiple: 1.94×
• Total profit: $31,744
• Equity at exit: $17,892

10-year hold

• IRR: 30.1%
• Equity multiple: 3.41×
• Total profit: $81,143
• Equity at exit: $10,375

Cash invested: $33,600 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,161 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $878

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 54%

Sensitivity live

Price	-10% $961	-5% $919	+0% $878	+5% $836	+10% $795
Rent	-10% $707	-5% $792	+0% $878	+5% $963	+10% $1,048
Rate	-1.0pp $938	-0.5pp $908	base $878	+0.5pp $847	+1.0pp $815

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33135 Woodland Ct N Lewes, DE	3.0	2.0	1120	$2,250	$2.01	14d	1	0.53mi
22730 Holly Way W Lewes, DE	3.0	2.0	1232	$2,250	$1.83	14d	1	0.73mi
22828 Sycamore Dr Lewes, DE	2.0	2.0	1100	$2,400	$2.18	14d	1	0.93mi
22806 Sycamore Dr Lewes, DE	2.0	1.5	840	$1,550	$1.85	14d	1	0.96mi

Listing history 22 events

1. 2026-06-18
   days on market $120,000 Active 101 DOM
2. 2026-06-17
   days on market $120,000 Active 100 DOM
3. 2026-06-16
   days on market $120,000 Active 99 DOM
4. 2026-06-15
   days on market $120,000 Active 98 DOM
5. 2026-06-14
   days on market $120,000 Active 96 DOM
6. 2026-06-13
   days on market $120,000 Active 95 DOM
7. 2026-06-10
   days on market $120,000 Active 93 DOM
8. 2026-06-09
   days on market $120,000 Active 92 DOM
9. 2026-06-08
   days on market $120,000 Active 91 DOM
10. 2026-06-07
    days on market $120,000 Active 90 DOM
11. 2026-06-05
    days on market $120,000 Active 87 DOM
12. 2026-06-03
    days on market $120,000 Active 86 DOM
13. 2026-06-02
    days on market $120,000 Active 85 DOM
14. 2026-06-01
    days on market $120,000 Active 84 DOM
15. 2026-05-31
    days on market $120,000 Active 83 DOM
16. 2026-05-30
    days on market $120,000 Active 82 DOM
17. 2026-04-18
    price $120,000 2650-char remark

    Show marketing remark (2650 chars)

    New price! $120,000 — a smart opportunity to own this beautifully updated 1986 home with sunroom, screened porch, and newer shed. What a charmer! Step into this extensively updated home in Angola Beach & Estates through a bright and cheerful sunroom, where newer windows fill the space with natural light. The home opens to a central living area with cathedral ceilings and a ceiling fan, creating a spacious and inviting atmosphere. At the heart of the home, the eat-in kitchen offers coastal painted cabinetry, a pantry, tile backsplash, and a door leading to a relaxing screened porch woth a storage area—an easy place to enjoy the outdoors throughout the seasons. The split floor plan offers privacy and comfort. The owner’s suite is located at the rear of the home and features board and batten trim work, a walk-in closet, and an ensuite bathroom with a walk-in shower and linen storage. A second bedroom and full bath at the front of the home also include a board and batten accent wall and provide versatile space for guests, family, or a home office, with 2 closets for plenty of storage. Since purchasing the home, the sellers have made numerous updates that contribute to the home’s long-term comfort and reliability. Improvements include a durable standing seam metal roof, efficient furnace and air conditioning system, energy efficient double-pane windows throughout the home, updated doors, repiping of the plumbing system, installation of an interior water shutoff valve, installation of a water softener (with replaceable filters) and replacement of the water heater. Additional improvements include newer gutters and downspouts, updated skirting, new vapor barrier and insulation, and a remote-controlled awning at the front entrance. The home also includes a newer 10' x 14' Dutch-style shed, offering convenient storage for tools, beach gear, or seasonal items. Residents of Angola Beach & Estates enjoy a blend of conveniences designed for easy coastal living. The reasonable monthly lot rent includes water, sewer, and trash service. Optional amenities—available for an additional fee—include two swimming pools, floating dock marina slips, and a storage yard. The community also offers a beautifully renovated community center with resident-planned activities, along with tennis and basketball courts, playgrounds, and generous common areas with pet relief stations. Residency application required: buyers must pass background and credit checks, along with income and asset verification. This home is not being sold furnished; however, select items may be available for purchase.

18. 2026-03-28
    price $129,900 2650-char remark

    Show marketing remark (2650 chars)

    New price! $120,000 — a smart opportunity to own this beautifully updated 1986 home with sunroom, screened porch, and newer shed. What a charmer! Step into this extensively updated home in Angola Beach & Estates through a bright and cheerful sunroom, where newer windows fill the space with natural light. The home opens to a central living area with cathedral ceilings and a ceiling fan, creating a spacious and inviting atmosphere. At the heart of the home, the eat-in kitchen offers coastal painted cabinetry, a pantry, tile backsplash, and a door leading to a relaxing screened porch woth a storage area—an easy place to enjoy the outdoors throughout the seasons. The split floor plan offers privacy and comfort. The owner’s suite is located at the rear of the home and features board and batten trim work, a walk-in closet, and an ensuite bathroom with a walk-in shower and linen storage. A second bedroom and full bath at the front of the home also include a board and batten accent wall and provide versatile space for guests, family, or a home office, with 2 closets for plenty of storage. Since purchasing the home, the sellers have made numerous updates that contribute to the home’s long-term comfort and reliability. Improvements include a durable standing seam metal roof, efficient furnace and air conditioning system, energy efficient double-pane windows throughout the home, updated doors, repiping of the plumbing system, installation of an interior water shutoff valve, installation of a water softener (with replaceable filters) and replacement of the water heater. Additional improvements include newer gutters and downspouts, updated skirting, new vapor barrier and insulation, and a remote-controlled awning at the front entrance. The home also includes a newer 10' x 14' Dutch-style shed, offering convenient storage for tools, beach gear, or seasonal items. Residents of Angola Beach & Estates enjoy a blend of conveniences designed for easy coastal living. The reasonable monthly lot rent includes water, sewer, and trash service. Optional amenities—available for an additional fee—include two swimming pools, floating dock marina slips, and a storage yard. The community also offers a beautifully renovated community center with resident-planned activities, along with tennis and basketball courts, playgrounds, and generous common areas with pet relief stations. Residency application required: buyers must pass background and credit checks, along with income and asset verification. This home is not being sold furnished; however, select items may be available for purchase.

19. 2026-03-09
    listed $135,000 Active 2650-char remark

    Show marketing remark (2650 chars)

    New price! $120,000 — a smart opportunity to own this beautifully updated 1986 home with sunroom, screened porch, and newer shed. What a charmer! Step into this extensively updated home in Angola Beach & Estates through a bright and cheerful sunroom, where newer windows fill the space with natural light. The home opens to a central living area with cathedral ceilings and a ceiling fan, creating a spacious and inviting atmosphere. At the heart of the home, the eat-in kitchen offers coastal painted cabinetry, a pantry, tile backsplash, and a door leading to a relaxing screened porch woth a storage area—an easy place to enjoy the outdoors throughout the seasons. The split floor plan offers privacy and comfort. The owner’s suite is located at the rear of the home and features board and batten trim work, a walk-in closet, and an ensuite bathroom with a walk-in shower and linen storage. A second bedroom and full bath at the front of the home also include a board and batten accent wall and provide versatile space for guests, family, or a home office, with 2 closets for plenty of storage. Since purchasing the home, the sellers have made numerous updates that contribute to the home’s long-term comfort and reliability. Improvements include a durable standing seam metal roof, efficient furnace and air conditioning system, energy efficient double-pane windows throughout the home, updated doors, repiping of the plumbing system, installation of an interior water shutoff valve, installation of a water softener (with replaceable filters) and replacement of the water heater. Additional improvements include newer gutters and downspouts, updated skirting, new vapor barrier and insulation, and a remote-controlled awning at the front entrance. The home also includes a newer 10' x 14' Dutch-style shed, offering convenient storage for tools, beach gear, or seasonal items. Residents of Angola Beach & Estates enjoy a blend of conveniences designed for easy coastal living. The reasonable monthly lot rent includes water, sewer, and trash service. Optional amenities—available for an additional fee—include two swimming pools, floating dock marina slips, and a storage yard. The community also offers a beautifully renovated community center with resident-planned activities, along with tennis and basketball courts, playgrounds, and generous common areas with pet relief stations. Residency application required: buyers must pass background and credit checks, along with income and asset verification. This home is not being sold furnished; however, select items may be available for purchase.

20. 2016-09-16
    soldstatus $37,500 1066-char remark

    Show marketing remark (1066 chars)

    ACCEPTING BACK UP OFFERS! Renovated, airy, bright & clean, waterfront-community home is ready and waiting for you! BRAND NEW AC & FURNACE, 7/21/16!!! Adorable 2 BD/2 BA split floor plan feels like 2 masters, each with plenty of closet space and pretty board & batten trim. Vinyl Siding, AFrame roof, gutters & downspouts, mostly drywalled, newer windows in main home, updated bathrooms, new lighting, new counters, new kitchen & master bedroom flooring and subflooring, new subflooring in family room, new electrical outlets and GFCI's throughout, fresh paint, and lots of pretty updates! Cathedral ceilings in Family room & kitchen. Bright and sunny 4 season room has ductwork, screened porch with new screening & storage closet. Large shed, too! 2015 Gaco-brand silicone roofing! Community has 2 pools ($100/5 passes) & playgrounds, tennis courts, basketball & volleyball court, marina, boat ramp, boat/RV/trailer storage ($120/yr), & community center, too! * WATER * SEWER * TRASH * INCLUDED in lot rent.

21. 2016-08-26
    historical 1066-char remark

    Show marketing remark (1066 chars)

    ACCEPTING BACK UP OFFERS! Renovated, airy, bright & clean, waterfront-community home is ready and waiting for you! BRAND NEW AC & FURNACE, 7/21/16!!! Adorable 2 BD/2 BA split floor plan feels like 2 masters, each with plenty of closet space and pretty board & batten trim. Vinyl Siding, AFrame roof, gutters & downspouts, mostly drywalled, newer windows in main home, updated bathrooms, new lighting, new counters, new kitchen & master bedroom flooring and subflooring, new subflooring in family room, new electrical outlets and GFCI's throughout, fresh paint, and lots of pretty updates! Cathedral ceilings in Family room & kitchen. Bright and sunny 4 season room has ductwork, screened porch with new screening & storage closet. Large shed, too! 2015 Gaco-brand silicone roofing! Community has 2 pools ($100/5 passes) & playgrounds, tennis courts, basketball & volleyball court, marina, boat ramp, boat/RV/trailer storage ($120/yr), & community center, too! * WATER * SEWER * TRASH * INCLUDED in lot rent.

22. 2016-07-08
    listed $39,900 1066-char remark

    Show marketing remark (1066 chars)

    ACCEPTING BACK UP OFFERS! Renovated, airy, bright & clean, waterfront-community home is ready and waiting for you! BRAND NEW AC & FURNACE, 7/21/16!!! Adorable 2 BD/2 BA split floor plan feels like 2 masters, each with plenty of closet space and pretty board & batten trim. Vinyl Siding, AFrame roof, gutters & downspouts, mostly drywalled, newer windows in main home, updated bathrooms, new lighting, new counters, new kitchen & master bedroom flooring and subflooring, new subflooring in family room, new electrical outlets and GFCI's throughout, fresh paint, and lots of pretty updates! Cathedral ceilings in Family room & kitchen. Bright and sunny 4 season room has ductwork, screened porch with new screening & storage closet. Large shed, too! 2015 Gaco-brand silicone roofing! Community has 2 pools ($100/5 passes) & playgrounds, tennis courts, basketball & volleyball court, marina, boat ramp, boat/RV/trailer storage ($120/yr), & community center, too! * WATER * SEWER * TRASH * INCLUDED in lot rent.

ⓘ 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 ≥102°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: $25,929
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − Depreciation: −$3,491
• Taxable income: $9,167
• Est. tax owed @ 24.0%: −$2,200
• After-tax cash flow: $8,332/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 — 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

• County: Sussex County · 82,708 people
• 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

+200.8% since first listed

6 events — show timeline

• 2026-04-18 Price Changed $120,000 BRIGHT MLS
• 2026-03-28 Price Changed $129,900 BRIGHT MLS
• 2026-03-09 Listed $135,000 BRIGHT MLS
• 2016-09-16 Sold (MLS) $37,500 BRIGHT MLS
• 2016-08-26 Listing Removed — BRIGHT MLS
• 2016-07-08 Listed $39,900 BRIGHT MLS

Property tax history

-8.0%/yr

Latest (2025): $172 · -56.1% YoY. Source: county tax records.