34291 Bayberry Rd · Long Neck, DE 19966

$155,000

3 bd · 1.0 ba · 720 sqft · Manufactured · 72 Days on market

Built 1960 319 ac lot $215/sqft · 42% above area Est $109k · 42% over

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your Bayside beach retreat in the highly sought-after Pot-Nets Community. Perfectly positioned in one of the most desirable locations in the development, this home places you just a short stroll from the private bay beach, Paradise Grill, the crabbing dock, boat ramps, and Saturday night entertainment exclusively for Bayside residents. Whether it’s sunset walks along the water, boating, crabbing, or dining with friends, this location captures the very best of Delaware’s coastal lifestyle. Thoughtfully maintained and updated, the home features a newer roof (2021), brand-new HVAC system (2025), newer flooring (2022), a new washer and dryer, and fresh paint throughout, allowing the next owners to move right in and start enjoying beach life immediately. Step outside to a truly special backyard oasis—a one-of-a-kind hardscaped outdoor space designed for relaxing after a day on the bay or entertaining family and friends on warm summer evenings. A convenient storage shed provides room for bikes, beach chairs, rafts, and all the essentials that come with life at the shore. Inside, the home offers a light-filled, airy feel and a comfortable layout ideal for gathering with family and guests. The property is being sold partially furnished, making your transition to beach living effortless. One of the most treasured aspects of the Bayside section of Pot-Nets is the sense of community. Many neighbors live here year-round, creating a welcoming atmosphere that adds both charm and peace of mind. If you’ve been dreaming of a coastal escape where every day feels like vacation, this is your opportunity. Come experience the magic of Bayside and make this home your own

Key facts

• 319.36 acre lot
• 3 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.4% 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+, 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.
• Zoned schools: Long Neck Elementary School (math 22% / reading 35%, grade F, #57 of 105 statewide, top 55%, 693 students, 0% FRL); Millsboro Middle School (math 24% / reading 42%, grade F, #14 of 36 statewide, top 37%, 771 students, 0% FRL); Sussex Central High School (math 23% / reading 42%, grade F, #24 of 40 statewide, top 59%, 2,039 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 870 active listings in the ZIP; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 32% of the median local income ($78k/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 $5k 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 72 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $145,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.92%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $109,108
• List price: $155,000
• Delta: 42.06%
• Verdict: OVERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.0%
• Equity multiple: 0.60×
• Total profit: $-17,462
• Equity at exit: $23,111

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,476
• Equity at exit: $13,402

Cash invested: $43,400 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 870
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,085 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $115

Break-even live

Break-even rent $1,939

Max offer price $155,000

Occupancy floor 89%

Sensitivity live

Price	-10% $222	-5% $169	+0% $115	+5% $62	+10% $8
Rent	-10% $-49	-5% $33	+0% $115	+5% $198	+10% $280
Rate	-1.0pp $193	-0.5pp $155	base $115	+0.5pp $75	+1.0pp $34

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $155,000 Active 72 DOM
2. 2026-06-18
   days on market $155,000 Active 69 DOM
3. 2026-06-17
   days on market $155,000 Active 68 DOM
4. 2026-06-16
   days on market $155,000 Active 67 DOM
5. 2026-06-15
   days on market $155,000 Active 66 DOM
6. 2026-06-14
   days on market $155,000 Active 64 DOM
7. 2026-06-13
   days on market $155,000 Active 63 DOM
8. 2026-06-10
   days on market $155,000 Active 61 DOM
9. 2026-06-09
   days on market $155,000 Active 60 DOM
10. 2026-06-08
    days on market $155,000 Active 59 DOM
11. 2026-06-07
    days on market $155,000 Active 58 DOM
12. 2026-06-03
    price $155,000 Active 53 DOM
13. 2026-06-02
    days on market $169,900 Active 53 DOM
14. 2026-06-01
    days on market $169,900 Active 52 DOM
15. 2026-05-31
    days on market $169,900 Active 51 DOM
16. 2026-05-30
    days on market $169,900 Active 50 DOM
17. 2026-04-11
    listed $169,900 Active 1711-char remark

    Show marketing remark (1711 chars)

    Welcome to your Bayside beach retreat in the highly sought-after Pot-Nets Community. Perfectly positioned in one of the most desirable locations in the development, this home places you just a short stroll from the private bay beach, Paradise Grill, the crabbing dock, boat ramps, and Saturday night entertainment exclusively for Bayside residents. Whether it’s sunset walks along the water, boating, crabbing, or dining with friends, this location captures the very best of Delaware’s coastal lifestyle. Thoughtfully maintained and updated, the home features a newer roof (2021), brand-new HVAC system (2025), newer flooring (2022), a new washer and dryer, and fresh paint throughout, allowing the next owners to move right in and start enjoying beach life immediately. Step outside to a truly special backyard oasis—a one-of-a-kind hardscaped outdoor space designed for relaxing after a day on the bay or entertaining family and friends on warm summer evenings. A convenient storage shed provides room for bikes, beach chairs, rafts, and all the essentials that come with life at the shore. Inside, the home offers a light-filled, airy feel and a comfortable layout ideal for gathering with family and guests. The property is being sold partially furnished, making your transition to beach living effortless. One of the most treasured aspects of the Bayside section of Pot-Nets is the sense of community. Many neighbors live here year-round, creating a welcoming atmosphere that adds both charm and peace of mind. If you’ve been dreaming of a coastal escape where every day feels like vacation, this is your opportunity. Come experience the magic of Bayside and make this home your own

18. 2026-04-02
    historical $169,900 1711-char remark

    Show marketing remark (1711 chars)

    Welcome to your Bayside beach retreat in the highly sought-after Pot-Nets Community. Perfectly positioned in one of the most desirable locations in the development, this home places you just a short stroll from the private bay beach, Paradise Grill, the crabbing dock, boat ramps, and Saturday night entertainment exclusively for Bayside residents. Whether it’s sunset walks along the water, boating, crabbing, or dining with friends, this location captures the very best of Delaware’s coastal lifestyle. Thoughtfully maintained and updated, the home features a newer roof (2021), brand-new HVAC system (2025), newer flooring (2022), a new washer and dryer, and fresh paint throughout, allowing the next owners to move right in and start enjoying beach life immediately. Step outside to a truly special backyard oasis—a one-of-a-kind hardscaped outdoor space designed for relaxing after a day on the bay or entertaining family and friends on warm summer evenings. A convenient storage shed provides room for bikes, beach chairs, rafts, and all the essentials that come with life at the shore. Inside, the home offers a light-filled, airy feel and a comfortable layout ideal for gathering with family and guests. The property is being sold partially furnished, making your transition to beach living effortless. One of the most treasured aspects of the Bayside section of Pot-Nets is the sense of community. Many neighbors live here year-round, creating a welcoming atmosphere that adds both charm and peace of mind. If you’ve been dreaming of a coastal escape where every day feels like vacation, this is your opportunity. Come experience the magic of Bayside and make this home your own

ⓘ 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 10/10 Extreme FEMA zone AE · 99% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,015
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$6,300
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − Depreciation: −$4,509
• Taxable loss: −$804
• Est. tax savings @ 24.0%: +$193
• After-tax cash flow: $1,576/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 — 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

• Census place: Long Neck, DE
• County: Sussex County · 82,708 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 464.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 8% Two or more races 7% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -18.26%
• Current HPI: 268.5609
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-11 Listed $169,900 BRIGHT MLS
• 2026-04-02 Coming Soon $169,900 BRIGHT MLS

Property tax history

-7.7%/yr

Latest (2025): $132 · -51.5% YoY. Source: county tax records.