26 Whitehaven Way #13 · Lewes, DE 19958

$289,900

3 bd · 2.0 ba · 1,700 sqft · SingleFamily · 9 Days on market

Built 2004 Good condition 4,356 sqft lot Est $236k · 23% over

---

Why this score? — see what drove the D- 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 +13.7/30.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Community. Less than 6 miles to the Lewes public beach. 28'x56' doublewide has a 10'x15' heated & air-conditioned sunroom for a total of 1,718 sq. ft. of living space. Block foundation. Attached, oversized 18'x22' one-car garage. Stainless steel kitchen appliance package. Walk-in pantry. Laundry room with full-size, side-by-side washer & dryer. Rinnai tankless water heater. Spit bedroom plan. En suite main bedroom has a StepSafe walk-in tub & a separate stall shower. Second full bath has a tub/shower. Two pet limit. Lot rent of approx. $720/mt includes trash/recycle. Nominal monthly fee for the indoor pool. Homeowner pays electric, water, sewer, fuel (natual gas) & lawn maintenance. Park application is required with acceptance based on: 1)income verification; 2)satisfactory credit bureau score - including debt-to-income ratio; and 3)clean criminal background check. Family & friends may always visit, but no rentals of any kind.

Key facts

• 4,356 sq ft lot
• Garage
• Community pool

Property features AI

Finance

• Other: Income/expense note: annual ground rent
• Financial info: Monthly ground lease payment (land lease) of $881; Ground rent paid annually by community records; Approximately 1 year remaining on land lease term
• HOA & community: HOA/association amenities include indoor pool, community center, dog park, party room, common grounds, and road maintenance; HOA/association fees cover pool(s) and road maintenance

Exterior

• Parking: Attached garage with automatic garage door opener (1 garage space); Asphalt and concrete driveways; Driveway parking for about 4 vehicles; Total of 5 garage and parking spaces
• Utilities: Public water; Public sewer; Municipal trash service; Cable and satellite internet available; Tankless hot water
• Home design: Manufactured double-wide home (Ritzcraft); Single-story living (main-level living); Senior community with 55+ age requirement; Excellent property condition; Land lease community (ground rent exists)
• Construction: Vinyl siding exterior; Shingle roof; Foundation: block, pillar/post/pier, and stone; Double-wide dimensions approximately 28 ft by 56 ft; Finished above-grade living area (estimated)
• Exterior features: Landscaped grounds; Enclosed outdoor living area and porch(es); Not in a federal flood zone; 2+ access exits; Private road responsibility; Black top road surface

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Gas range/oven; Refrigerator; Stainless steel appliances
• Bedrooms: Three main-level bedrooms
• Flooring: Luxury vinyl plank flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Wall unit heating; Central air conditioning; Ceiling fans; Electric cooling fuel; 200+ amp electrical service with 220 volts
• Interior features: Open floor plan with combination dining/living area; Formal dining room; Breakfast area; Kitchen island; Pantry; Master bathroom; Walk-in closet(s); Recessed lighting; Ceiling fan(s); Window treatments; Tray ceilings; Drywall interior walls; Bathroom with walk-in shower; Jetted tub; Tub/shower combination; Insulated, sliding glass, and storm doors
• Laundry & utility: Washer and dryer in unit (electric dryer); Has laundry on the main floor; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $20 ($243/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (11.6% below list).
• Recommended offer: $256k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 1.8% in Lewes — 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 67/100 on livability (#40 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: commute F, cost of living 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.
• Zoned schools: Milton Elementary School (math 47% / reading 57%, grade C-, #13 of 105 statewide, top 12%, 556 students, 0% FRL); Mariner Middle School (math 32% / reading 48%, grade F, #7 of 36 statewide, top 17%, 664 students, 0% FRL); Cape Henlopen High School (math 26% / reading 51%, grade F, #14 of 40 statewide, top 33%, 1,813 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 822 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 ($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 $2k of loan paydown is wiped out by about $9k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago; this cycle's ask is 45% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $200k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,162 (11.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $236,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Buckingham Dr	0.28mi	3/2.0	1,680 (-1%)	2mo	$266,000	$158	84
32 Kings Xing	0.21mi	3/2.0	1,650 (-3%)	4mo	$208,000	$126	81
5 Folkstone Ln	0.34mi	3/2.0	1,798 (+6%)	1mo	$250,000	$139	74
11 Madelyn's Way	0.29mi	3/2.0	1,600 (-6%)	4mo	$190,000	$119	74
2 Folkstone Ln	0.32mi	3/2.0	1,600 (-6%)	3mo	$199,000	$124	73
32164 Deerwood Ln	0.52mi	3/2.0	1,728 (+2%)	2mo	$485,000	$281	72
25 Kings Xing	0.18mi	3/2.0	1,488 (-12%)	1mo	$207,444	$139	70
24622 Merlot Dr	0.51mi	3/2.0	1,600 (-6%)	0mo	$490,000	$306	66
38 Buckingham Dr	0.41mi	3/2.0	1,568 (-8%)	2mo	$218,000	$139	66
13079 Laurel Leaf Dr	0.68mi	3/2.0	1,772 (+4%)	0mo	$590,000	$333	61
31309 Coventry Dr	0.57mi	3/2.0	1,500 (-12%)	3mo	$470,000	$313	51
31655 Janice Rd Unit A-36	0.68mi	3/2.0	1,456 (-14%)	2mo	$134,000	$92	43

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-51,271
• Equity at exit: $43,225

10-year hold

• IRR: -15.8%
• Equity multiple: 0.20×
• Total profit: $-64,892
• Equity at exit: $25,065

Cash invested: $81,172 (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: 822
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,562 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $20

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 94%

Sensitivity live

Price	-10% $221	-5% $120	+0% $20	+5% $-80	+10% $-180
Rent	-10% $-182	-5% $-81	+0% $20	+5% $121	+10% $223
Rate	-1.0pp $166	-0.5pp $94	base $20	+0.5pp $-55	+1.0pp $-131

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20141 Riesling Ln #306 Lewes, DE	2.0	2.0	1600	$2,600	$1.62	45d	1	0.62mi
24258 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	45d	1	0.66mi
12001 Old Vine Blvd Lewes, DE	1.0–2.0	1.0–2.0	987	$3,055	$3.10	15d	17	0.66mi
24238 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	45d	1	0.71mi
17010 Minos Conaway Rd Lewes, DE	3.0	2.0	1600	$2,500	$1.56	45d	1	1.10mi
17432 Slipper Shell Way #5 Lewes, DE	3.0	2.0	1840	$2,150	$1.17	23d	1	1.34mi

Listing history 11 events

1. 2026-06-22
   days on market $289,900 Active 9 DOM
2. 2026-06-18
   days on market $289,900 Active 6 DOM
3. 2026-06-17
   days on market $289,900 Active 5 DOM
4. 2026-06-16
   days on market $289,900 Active 4 DOM
5. 2026-06-15
   days on market $289,900 Active 3 DOM
6. 2026-06-13
   statusdays on market $289,900 Active 1 DOM
7. 2026-06-10
   days on market $289,900 Coming Soon 4 DOM
8. 2026-06-09
   days on market $289,900 Coming Soon 3 DOM
9. 2026-06-08
   days on market $289,900 Coming Soon 2 DOM
10. 2026-06-07
    remarks 685-char remark
11. 2026-06-07
    listed $289,900 Coming Soon 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 ≥101°F today · 19 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: $30,739
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,459
• − Management: −$2,459
• − Depreciation: −$8,433
• Taxable loss: −$4,649
• Est. tax savings @ 24.0%: +$1,116
• After-tax cash flow: $1,359/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2004-built Ritzcraft home in Sussex West is in good condition with a good condition score of 75. It has a good kitchen, bathrooms, and exterior. The home is move-in ready with minor maintenance needed.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring in the kitchen and bathrooms — New flooring can improve the look and feel of the home, making it more appealing to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the kitchen and bathrooms — New flooring can improve the look and feel of the home, making it more appealing to potential buyers or renters. ↑

ⓘ 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 — Lewes

• Score: 67/100
• State rank: #40
• US rank: #11077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 31,938
• 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

+65.7% since first listed

7 events — show timeline

• 2026-06-06 Coming Soon $289,900 BRIGHT MLS
• 2022-08-26 Listed $199,900 BRIGHT MLS
• 2022-08-25 Sold (MLS) $199,900 BRIGHT MLS
• 2021-07-09 Sold (MLS) $173,000 BRIGHT MLS
• 2021-06-27 Pending — BRIGHT MLS
• 2021-06-12 Contingent — BRIGHT MLS
• 2021-06-04 Listed $175,000 BRIGHT MLS