34859 Gromet St Unit E-83 · Long Neck, DE 19966

$180,000

3 bd · 2.0 ba · 1,702 sqft · SingleFamily · 198 Days on market

Built 2004 Good condition $106/sqft · 22% below area Est $230k · 22% under ↓ 10% since listing

---

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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Bayside, the original Pot-Nets Community, where the beauty of nature meets the comfort of home. Nestled between the serene Indian River and the picturesque Rehoboth Bays, this waterfront paradise offers an unparalleled lifestyle for water enthusiasts. Imagine waking up to the gentle sounds of the water, stepping out onto your screened-in porch with a refreshing beverage in hand, and soaking in the stunning wetland views right across the road. With private beaches, marinas, and direct access to the Indian River Inlet, Bayside is not just a community; it’s a lifestyle that invites you to create unforgettable memories right at your doorstep. Step inside this spacious 1,702 square foot home, where modern elegance meets cozy charm. The heart of the home features an expansive living and dining area adorned with extra-large windows and soaring ceilings, flooding the space with natural light. The kitchen is a chef's dream, boasting ample cabinetry, sleek quartz countertops, and newer stainless steel appliances, all centered around a generous island perfect for entertaining. The bright and airy primary bedroom offers a spa-like ensuite, providing a tranquil retreat after a day of adventure. Your guests will feel right at home in the comfortable guest room and bath, ensuring everyone enjoys their stay. Outside, the allure continues with an extra-large side deck ideal for grilling and alfresco dining, surrounded by a beautifully manicured yard and gardens. A spacious 14x14 shed with power provides the perfect storage solution for your golf car and outdoor gear. Whether you’re relaxing at Bayside Beach or enjoying a delicious lunch at Paradise Grill, everything you need is just moments away. Embrace the ultimate waterfront living experience in Bayside, where every day feels like a vacation!

Key facts

• Screened-in porch
• Soaring ceilings
• Extra-large windows

Tags

• SCREENED-IN PORCH
• WETLAND VIEWS
• PRIVATE BEACHES
• EXTRA-LARGE WINDOWS
• SOARING CEILINGS
• SLEEK QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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; 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 37% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 15.90%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $229,572
• List price: $180,000
• Delta: -21.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34686 Cringle St Unit E-123	0.26mi	3/2.0	1,768 (+4%)	1mo	$338,287	$191	80
28220 Sloop Ave	0.32mi	3/2.0	1,792 (+5%)	2mo	$280,000	$156	75
34598 Deck St Unit E-523	0.29mi	3/2.0	1,608 (-6%)	3mo	$246,993	$154	74
34840 W Harbor Dr	0.37mi	3/2.0	1,800 (+6%)	0mo	$315,000	$175	73
34619 Sloop Loop	0.34mi	3/2.0	1,596 (-6%)	3mo	$239,000	$150	71
34805 Rowlock Pl #50349	0.16mi	3/2.0	1,920 (+13%)	0mo	$200,000	$104	71
26925 White House Rd #14556	0.53mi	3/2.0	1,680 (-1%)	4mo	$95,000	$57	70
34224 Green Holly Rd #180	0.60mi	3/2.0	1,680 (-1%)	4mo	$220,000	$131	67
35536 E Harbor Dr #16911	0.69mi	3/2.0	1,700 (-0%)	2mo	$170,000	$100	66
27137 Clipper Rd Unit M-55	0.63mi	3/2.0	1,680 (-1%)	5mo	$175,000	$104	64
34488 Easy St Unit E-810	0.43mi	3/2.0	1,456 (-14%)	0mo	$190,000	$130	55
26545 Woodchuck Ln Unit E-862	0.65mi	3/2.0	1,456 (-14%)	0mo	$159,000	$109	45

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: 6.8%
• Equity multiple: 1.27×
• Total profit: $13,411
• Equity at exit: $26,839

10-year hold

• IRR: 16.2%
• Equity multiple: 2.32×
• Total profit: $66,606
• Equity at exit: $15,563

Cash invested: $50,400 (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: 865
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,420 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $668

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 67%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.68mi
35805 S Gloucester Cir Millsboro, DE	3.0	2.5	2100	$2,300	$1.10	43d	1	0.73mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $180,000 Pending 198 DOM
2. 2026-06-02
   days on market $180,000 Active 196 DOM
3. 2026-06-01
   days on market $180,000 Active 195 DOM
4. 2026-05-31
   days on market $180,000 Active 194 DOM
5. 2026-05-30
   days on market $180,000 Active 193 DOM
6. 2026-05-14
   price $180,000 1832-char remark

   Show marketing remark (1832 chars)

   Welcome to Bayside, the original Pot-Nets Community, where the beauty of nature meets the comfort of home. Nestled between the serene Indian River and the picturesque Rehoboth Bays, this waterfront paradise offers an unparalleled lifestyle for water enthusiasts. Imagine waking up to the gentle sounds of the water, stepping out onto your screened-in porch with a refreshing beverage in hand, and soaking in the stunning wetland views right across the road. With private beaches, marinas, and direct access to the Indian River Inlet, Bayside is not just a community; it’s a lifestyle that invites you to create unforgettable memories right at your doorstep. Step inside this spacious 1,702 square foot home, where modern elegance meets cozy charm. The heart of the home features an expansive living and dining area adorned with extra-large windows and soaring ceilings, flooding the space with natural light. The kitchen is a chef's dream, boasting ample cabinetry, sleek quartz countertops, and newer stainless steel appliances, all centered around a generous island perfect for entertaining. The bright and airy primary bedroom offers a spa-like ensuite, providing a tranquil retreat after a day of adventure. Your guests will feel right at home in the comfortable guest room and bath, ensuring everyone enjoys their stay. Outside, the allure continues with an extra-large side deck ideal for grilling and alfresco dining, surrounded by a beautifully manicured yard and gardens. A spacious 14x14 shed with power provides the perfect storage solution for your golf car and outdoor gear. Whether you’re relaxing at Bayside Beach or enjoying a delicious lunch at Paradise Grill, everything you need is just moments away. Embrace the ultimate waterfront living experience in Bayside, where every day feels like a vacation!

7. 2025-11-18
   listed $199,999 Active 1832-char remark

   Show marketing remark (1832 chars)

   Welcome to Bayside, the original Pot-Nets Community, where the beauty of nature meets the comfort of home. Nestled between the serene Indian River and the picturesque Rehoboth Bays, this waterfront paradise offers an unparalleled lifestyle for water enthusiasts. Imagine waking up to the gentle sounds of the water, stepping out onto your screened-in porch with a refreshing beverage in hand, and soaking in the stunning wetland views right across the road. With private beaches, marinas, and direct access to the Indian River Inlet, Bayside is not just a community; it’s a lifestyle that invites you to create unforgettable memories right at your doorstep. Step inside this spacious 1,702 square foot home, where modern elegance meets cozy charm. The heart of the home features an expansive living and dining area adorned with extra-large windows and soaring ceilings, flooding the space with natural light. The kitchen is a chef's dream, boasting ample cabinetry, sleek quartz countertops, and newer stainless steel appliances, all centered around a generous island perfect for entertaining. The bright and airy primary bedroom offers a spa-like ensuite, providing a tranquil retreat after a day of adventure. Your guests will feel right at home in the comfortable guest room and bath, ensuring everyone enjoys their stay. Outside, the allure continues with an extra-large side deck ideal for grilling and alfresco dining, surrounded by a beautifully manicured yard and gardens. A spacious 14x14 shed with power provides the perfect storage solution for your golf car and outdoor gear. Whether you’re relaxing at Bayside Beach or enjoying a delicious lunch at Paradise Grill, everything you need is just moments away. Embrace the ultimate waterfront living experience in Bayside, where every day feels like a vacation!

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 44% 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: $29,041
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − Depreciation: −$5,236
• Taxable income: $5,476
• Est. tax owed @ 24.0%: −$1,314
• After-tax cash flow: $6,701/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 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It has a good roof, foundation, and HVAC system. The home has a good curb appeal and is move-in ready. The home has a good resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics
• Both Updating the flooring to a more modern style — New flooring can improve the overall look and feel of the home
• Both Upgrading the kitchen appliances to a more modern style — Modern appliances can increase the home's appeal and functionality
• Both Updating the bathrooms with modern fixtures and finishes — Modern bathrooms can enhance the home's appeal and functionality
• Both Landscaping improvements to enhance curb appeal — A well-maintained landscape can increase the home's curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics ↑
• Both Updating the flooring to a more modern style — New flooring can improve the overall look and feel of the home ↑
• Both Upgrading the kitchen appliances to a more modern style — Modern appliances can increase the home's appeal and functionality ↑
• Both Updating the bathrooms with modern fixtures and finishes — Modern bathrooms can enhance the home's appeal and functionality ↑
• Both Landscaping improvements to enhance curb appeal — A well-maintained landscape can increase the home's curb appeal and 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: 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

-10.0% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $180,000 BRIGHT MLS
• 2025-11-18 Listed $199,999 BRIGHT MLS