58 Major St · Milford, DE 19960

$89,000

2 bd · 2.0 ba · 924 sqft · SingleFamily · 34 Days on market

Built 1989 Fair condition $96/sqft · 68% below area ↓ 6% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Welcome to this cozy 2-bedroom, 2-bathroom home nestled in the heart of Lincoln, DE! This single-story home features an optimal layout that encourages a comfortable and easy living style. As you step inside, you will appreciate the warm and welcoming atmosphere that this home exudes. The property has been designed with thoughtful details including a wall unit cooling system ideal for those warm summer days, and electric baseboard heating ensuring your winters are warm and cozy. The spacious bedrooms promise restful nights, complete with conveniences for ultimate relaxation. The two full bathrooms add functionality to the home, reducing morning traffic while ensuring each member gets persona

Key facts

• Modest design
• 2 parking spots
• Built 1989

Tags

• WALL UNIT COOLING SYSTEM
• ELECTRIC BASEBOARD HEATING
• MODEST DESIGN
• COMPACT YET FUNCTIONAL

Property features AI

Finance

• Other: Ownership is land lease
• HOA & community: Monthly land lease of $725 (1 year remaining); Association fees include water, sewer, and trash

Exterior

• Parking: Off-street parking for 2 vehicles (total 2 spaces)
• Utilities: Community / shared well water; Private sewer; Electric power
• Home design: Manufactured single-wide home; Above-grade finished living area (estimated)
• Construction: Above-grade and below-grade structures noted; Year built (estimated)
• Exterior features: Not in a federal flood zone; 2+ access exits; Property located in the Crosswinds park

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric baseboard heating; Wall-mounted electric cooling unit; Electric hot water
• Interior features: Ceiling fans
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $89k. Condition is rated fair.

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 $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 3.7% in Milford — 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 62/100 on livability (#61 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D+, crime 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: 88 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($86k) 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 $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.09% ✓
• Cap rate: 17.81%
• Cash-on-cash: 41.12%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (median comp): $278,808
• List price: $89,000
• Delta: -68.08%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21146 Adams Cir	0.54mi	3/1.0 (+1)	1,000 (+8%)	4mo	$245,000	$245	49
20764 Fleatown Rd	0.42mi	3/1.0 (+1)	1,056 (+14%)	15mo	$265,000	$251	35
20991 Mayhew Dr	0.36mi	3/1.5 (+1)	1,056 (+14%)	22mo	$275,000	$260	34
20999 Cubbage Pond Rd	0.54mi	3/1.0 (+1)	1,056 (+14%)	20mo	$270,000	$256	25
21039 Cubbage Pond Rd	0.62mi	3/1.0 (+1)	1,056 (+14%)	23mo	$285,000	$270	19

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 56.2%
• Equity multiple: 5.13×
• Total profit: $102,890
• Equity at exit: $80,178

10-year hold

• IRR: 49.7%
• Equity multiple: 11.44×
• Total profit: $260,278
• Equity at exit: $172,907

Cash invested: $24,920 (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 19960

• Home prices YoY: 23.9%
• Active inventory: 88
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,860 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $854

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 49%

Sensitivity live

Price	-10% $915	-5% $885	+0% $854	+5% $823	+10% $792
Rent	-10% $707	-5% $781	+0% $854	+5% $927	+10% $1,001
Rate	-1.0pp $899	-0.5pp $877	base $854	+0.5pp $831	+1.0pp $807

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $89,000 Active 34 DOM
2. 2026-06-17
   days on market $89,000 Active 33 DOM
3. 2026-06-16
   days on market $89,000 Active 32 DOM
4. 2026-06-15
   days on market $89,000 Active 31 DOM
5. 2026-06-14
   days on market $89,000 Active 29 DOM
6. 2026-06-13
   days on market $89,000 Active 28 DOM
7. 2026-06-10
   pricedays on market $89,000 Active 26 DOM
8. 2026-06-09
   days on market $95,000 Active 25 DOM
9. 2026-06-08
   days on market $95,000 Active 24 DOM
10. 2026-06-07
    days on market $95,000 Active 23 DOM
11. 2026-06-05
    days on market $95,000 Active 20 DOM
12. 2026-06-03
    days on market $95,000 Active 19 DOM
13. 2026-06-02
    days on market $95,000 Active 18 DOM
14. 2026-06-01
    days on market $95,000 Active 17 DOM
15. 2026-05-31
    days on market $95,000 Active 16 DOM
16. 2026-05-30
    days on market $95,000 Active 15 DOM
17. 2026-05-15
    listed $95,000 Active 1326-char remark

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°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: $22,314
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − Depreciation: −$2,589
• Taxable income: $9,390
• Est. tax owed @ 24.0%: −$2,254
• After-tax cash flow: $7,994/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 · 13 photos

Fair 45/100 Moderate rehab

This home is in fair condition with some dated features that need updating. It has potential for increased value with a moderate renovation.

Repairs flagged

• Moderate kitchen cabinets — The cabinets are dated and need updating.
• Moderate bathroom fixtures — The fixtures are dated and need updating.
• Minor exterior siding — There is some discoloration, which can be addressed with a fresh coat of paint.
• Minor landscaping — The landscaping needs trimming and some plants may need replacing.

Value-add opportunities

• Resale update kitchen cabinets and fixtures — Updating the kitchen will make it more appealing to potential buyers.
• Resale update bathroom fixtures — Updating the bathroom will make it more appealing to potential buyers.
• Both paint interior walls — Painting the interior walls will improve the overall appearance and increase the home's value.
• Both update exterior siding — Updating the exterior siding will improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · The cabinets are dated and need updating.	Moderate	$3,000–15,000
bathroom fixtures · The fixtures are dated and need updating.	Moderate	$3,000–15,000
exterior siding · There is some discoloration, which can be addressed with a fresh coat of paint.	Minor	$500–3,000
landscaping · The landscaping needs trimming and some plants may need replacing.	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Resale update kitchen cabinets and fixtures — Updating the kitchen will make it more appealing to potential buyers. ↑
• Resale update bathroom fixtures — Updating the bathroom will make it more appealing to potential buyers. ↑
• Both paint interior walls — Painting the interior walls will improve the overall appearance and increase the home's value. ↑
• Both update exterior siding — Updating the exterior siding will improve the home's curb appeal and increase its value. ↑

ⓘ 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 — Milford

• Score: 62/100
• State rank: #61
• US rank: #16211

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,083

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 23% Hispanic / Latino 14% Two or more races 10%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Italian 4% Scandinavian 2% Romanian 2%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 14% Other Indo-European 2% Other Asian/Pacific 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: ▲ 71.02%
• Current HPI: 367.6248
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.3% since first listed

2 events — show timeline

• 2026-06-09 Price Changed $89,000 BRIGHT MLS
• 2026-05-15 Listed $95,000 BRIGHT MLS