29505 Maple Rd · Milton, DE 19958

$195,000

4 bd · 2.0 ba · 1,372 sqft · Manufactured · 7 Days on market

Built 1979 17 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Adorable and move-in ready this 4BR/2BA expanded Rancher is located on a corner lot in the quiet neighborhood of Tall Pines. Make your way to the covered front brick porch and open the door into a home filled with natural light, vaulted ceilings, hardwood and luxury vinyl flooring, and an open floor plan. The main living area consists of a spacious living room, a dining room with a gas fireplace, and a kitchen. The kitchen features abundant cabinets, including a pantry cabinet, ample counter space, a tiled backsplash, a stainless sink under a window, and an island with breakfast seating. Off the main living area are three sizable secondary bedrooms and a full bath featuring a recently renov

Key facts

• 17.06 acre lot
• Community pool
• Built 1979

Property features AI

Finance

• Financial info: Monthly land lease of $525; Approximately 100 years of land lease remaining; Annual ground rent noted
• HOA & community: Community pool available; Property manager present

Exterior

• Parking: On-street parking
• Utilities: Community water; Community septic tank; Electric service
• Home design: Manufactured home; Effective renovation in 2015; Year built is estimated
• Construction: Vinyl siding; Block foundation; Architectural shingle roof
• Exterior features: Community pool; Not in a federal flood zone; Ground rent exists

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Window unit cooling (electric); Electric hot water
• Interior features: No basement; Living area reported per assessor
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $907 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Cap rate 11.9% vs local median 2.2% in Milton — 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 73/100 on livability (#7 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, cost of living B+; Watch: amenities F, commute 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 35% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

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 $195,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.46% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.94%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.5%
• Equity multiple: 1.37×
• Total profit: $19,952
• Equity at exit: $29,075

10-year hold

• IRR: 16.7%
• Equity multiple: 2.23×
• Total profit: $67,358
• Equity at exit: $16,860

Cash invested: $54,600 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,854 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $907

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,042	-5% $974	+0% $907	+5% $840	+10% $772
Rent	-10% $682	-5% $794	+0% $907	+5% $1,020	+10% $1,133
Rate	-1.0pp $1,005	-0.5pp $957	base $907	+0.5pp $857	+1.0pp $805

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16894 Beulah Blvd Milton, DE	3.0	2.0	1875	$2,695	$1.44	21d	3	1.29mi
16832 Ole Grist Run Milton, DE	3.0	2.0	1375	$2,300	$1.67	44d	1	1.34mi

Listing history 7 events

1. 2026-06-18
   days on market $195,000 Active 7 DOM
2. 2026-06-17
   days on market $195,000 Active 6 DOM
3. 2026-06-16
   days on market $195,000 Active 5 DOM
4. 2026-06-15
   days on market $195,000 Active 4 DOM
5. 2026-06-14
   days on market $195,000 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $195,000 Active 1 DOM

ⓘ 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: $34,248
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,740
• − Management: −$2,740
• − Depreciation: −$5,673
• Taxable income: $8,273
• Est. tax owed @ 24.0%: −$1,985
• After-tax cash flow: $8,899/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 — Milton

• Score: 73/100
• State rank: #7
• US rank: #5043

Category grades

Amenities F Commute F Cost of living B+ Crime B Employment B Housing A- Health & safety A+ 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

+0.0% since first listed

2 events — show timeline

• 2026-06-12 Listed $195,000 BRIGHT MLS
• 2026-06-10 Coming Soon $195,000 BRIGHT MLS

Property tax history

-48.9%/yr

Latest (2025): $274 · -48.9% YoY. Source: county tax records.