26270 Crows Nest Ct W #49078 · Long Neck, DE 19966

$137,000

4 bd · 2.0 ba · 1,404 sqft · Manufactured · 73 Days on market

Built 2000 $98/sqft · 8% above area Est $127k · 8% over

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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 +3.9/15.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside a beautifully designed 4-bedroom, 2-bath manufactured home in the sought-after Rehoboth Shores MHP community, where coastal living meets everyday comfort and convenience. From the moment you enter, you’re welcomed into a bright, open living space filled with natural light—creating an airy, inviting atmosphere perfect for both relaxing evenings and entertaining guests. The seamless flow leads you into a well-appointed kitchen featuring ample cabinetry, functional workspace, and a skylight that bathes the heart of the home in warm, natural sunshine. Just beyond, the dining area offers the perfect setting for family meals and gatherings, with easy access to a cozy sunroom—ideal for morning coffee, quiet reading, or enjoying the coastal breeze year-round. The thoughtful split floor plan provides privacy and comfort, with the primary suite serving as a true retreat. It features a spacious walk-in closet and a private ensuite bath designed for convenience and relaxation. Three additional bedrooms offer flexibility for guests, home office space, or hobbies, ensuring there’s room for every lifestyle need. Living in Rehoboth Shores means more than just a home—it’s a lifestyle. Residents enjoy a vibrant waterfront community with amenities that include a private beach, marina with boat docks, swimming pool, clubhouse, and recreational spaces perfect for social gatherings and outdoor enjoyment. The area is known for its coastal charm, fishing and boating opportunities, and close proximity to Rehoboth Bay and the Atlantic beaches, while still offering easy access to shopping, dining, and everyday essentials in nearby Millsboro. Whether you’re looking for a full-time residence or a peaceful coastal escape, this home delivers space, light, and lifestyle in one of the area’s most desirable waterfront communities.

Key facts

• Community pool
• Built 2000
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $137k).
• Recommended offer: $129k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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.
• 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: 865 active listings in the ZIP; 1 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 39% 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 $947 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 + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $128,779 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.86% ✓
• Cap rate: 15.64%
• Cash-on-cash: 33.40%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (median comp): $126,934
• List price: $137,000
• Delta: 7.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34651 Deck St	0.61mi	3/1.5 (-1)	1,476 (+5%)	7mo	$40,000	$27	50
35468 Joann Dr #11511	0.71mi	3/1.0 (-1)	1,260 (-10%)	11mo	$52,000	$41	32

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

Projected returns pro-forma

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

5-year hold

• IRR: 11.0%
• Equity multiple: 1.44×
• Total profit: $16,797
• Equity at exit: $20,427

10-year hold

• IRR: 20.2%
• Equity multiple: 2.71×
• Total profit: $65,733
• Equity at exit: $11,845

Cash invested: $38,360 (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: 865
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$718
• Tax est. 1.5%: −$171 /mo · $2,055/yr
• Insurance: −$57
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $607

Break-even live

Break-even rent $1,781

Max offer price $137,000

Occupancy floor 71%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	0.81mi

Listing history 21 events

1. 2026-06-18
   days on market $137,000 Active 73 DOM
2. 2026-06-17
   days on market $137,000 Active 72 DOM
3. 2026-06-16
   days on market $137,000 Active 71 DOM
4. 2026-06-15
   days on market $137,000 Active 70 DOM
5. 2026-06-14
   days on market $137,000 Active 68 DOM
6. 2026-06-13
   days on market $137,000 Active 67 DOM
7. 2026-06-10
   days on market $137,000 Active 65 DOM
8. 2026-06-09
   days on market $137,000 Active 64 DOM
9. 2026-06-08
   days on market $137,000 Active 63 DOM
10. 2026-06-07
    pricedays on market $137,000 Active 62 DOM
11. 2026-06-02
    days on market $140,000 Active 57 DOM
12. 2026-06-01
    days on market $140,000 Active 56 DOM
13. 2026-05-31
    days on market $140,000 Active 55 DOM
14. 2026-05-30
    days on market $140,000 Active 54 DOM
15. 2026-04-06
    listed $140,000 Active 1888-char remark

    Show marketing remark (1888 chars)

    Step inside a beautifully designed 4-bedroom, 2-bath manufactured home in the sought-after Rehoboth Shores MHP community, where coastal living meets everyday comfort and convenience. From the moment you enter, you’re welcomed into a bright, open living space filled with natural light—creating an airy, inviting atmosphere perfect for both relaxing evenings and entertaining guests. The seamless flow leads you into a well-appointed kitchen featuring ample cabinetry, functional workspace, and a skylight that bathes the heart of the home in warm, natural sunshine. Just beyond, the dining area offers the perfect setting for family meals and gatherings, with easy access to a cozy sunroom—ideal for morning coffee, quiet reading, or enjoying the coastal breeze year-round. The thoughtful split floor plan provides privacy and comfort, with the primary suite serving as a true retreat. It features a spacious walk-in closet and a private ensuite bath designed for convenience and relaxation. Three additional bedrooms offer flexibility for guests, home office space, or hobbies, ensuring there’s room for every lifestyle need. Living in Rehoboth Shores means more than just a home—it’s a lifestyle. Residents enjoy a vibrant waterfront community with amenities that include a private beach, marina with boat docks, swimming pool, clubhouse, and recreational spaces perfect for social gatherings and outdoor enjoyment. The area is known for its coastal charm, fishing and boating opportunities, and close proximity to Rehoboth Bay and the Atlantic beaches, while still offering easy access to shopping, dining, and everyday essentials in nearby Millsboro. Whether you’re looking for a full-time residence or a peaceful coastal escape, this home delivers space, light, and lifestyle in one of the area’s most desirable waterfront communities.

16. 2022-03-14
    soldstatus $99,900 Closed 380-char remark

    Show marketing remark (380 chars)

    Welcome to this newly renovated double wide manufactured home perfectly situated on a cul de sac in the highly sought after Rehoboth Shores Community. In addition to new laminate flooring through out and fresh paint, there is a brand new AC unit and furnace. The main bathroom has a new tile shower and the secondary bathroom has a new tub. This home is waiting for its new owner!

17. 2022-02-08
    status Pending 380-char remark

    Show marketing remark (380 chars)

    Welcome to this newly renovated double wide manufactured home perfectly situated on a cul de sac in the highly sought after Rehoboth Shores Community. In addition to new laminate flooring through out and fresh paint, there is a brand new AC unit and furnace. The main bathroom has a new tile shower and the secondary bathroom has a new tub. This home is waiting for its new owner!

18. 2021-12-31
    listed $99,900 Active 380-char remark

    Show marketing remark (380 chars)

    Welcome to this newly renovated double wide manufactured home perfectly situated on a cul de sac in the highly sought after Rehoboth Shores Community. In addition to new laminate flooring through out and fresh paint, there is a brand new AC unit and furnace. The main bathroom has a new tile shower and the secondary bathroom has a new tub. This home is waiting for its new owner!

19. 2013-07-26
    soldstatus $27,500
20. 2013-06-25
    historical
21. 2013-04-24
    listed $34,303

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°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: $30,599
• − Mortgage interest: −$7,674
• − Property taxes: −$2,055
• − Insurance: −$6,210
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$3,985
• Taxable income: $5,779
• Est. tax owed @ 24.0%: −$1,387
• After-tax cash flow: $5,900/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

• 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

+308.1% since first listed

7 events — show timeline

• 2026-04-06 Listed $140,000 BRIGHT MLS
• 2022-03-14 Sold (MLS) $99,900 BRIGHT MLS
• 2022-02-08 Pending — BRIGHT MLS
• 2021-12-31 Listed $99,900 BRIGHT MLS
• 2013-07-26 Sold (MLS) $27,500 BRIGHT MLS
• 2013-06-25 Listing Removed — BRIGHT MLS
• 2013-04-24 Listed $34,303 BRIGHT MLS