37965 Roosevelt Ave · Selbyville, DE 19975

$215,000

4 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 36 Days on market

Built 1986 9,583 sqft lot $179/sqft · 42% below area Est $383k · 44% under ↓ 14% since listing

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +5.6/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of opportunity, comfort, and coastal convenience with this charming 4-bedroom, 2-bathroom ranch-style home situated on a spacious 0.22-acre lot. Whether you're an investor seeking strong rental potential or a homebuyer looking for an affordable place to call home near Delaware’s most desirable destinations, this property offers incredible versatility and value. Located within short driving distance to Delaware’s beautiful beaches, boardwalk attractions, shopping, dining, and outdoor recreation, this home provides the lifestyle many buyers are searching for without the premium coastal price tag. Inside, the home offers a functional single-level layout w

Key facts

• 9,583 sq ft lot
• 6 parking spots
• Built 1986

Property features AI

Exterior

• Parking: Detached carport with 2 spaces; Driveway with about 4 spaces; Approximately 6 total garage and parking spaces
• Utilities: Public water; Public sewer; Electric cooling and heating
• Home design: Detached modular/manufactured home; Estimated year built
• Construction: Modular/Manufactured construction; Crawl space foundation
• Exterior features: Not in a federal flood zone; Tidal water not present; Other above-grade structures

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Window air conditioning units (electric); Electric heating (other type); Hot water from a 60+ gallon tank
• Interior features: Estimated living area; No basement; Two or more access exits

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.2% in Selbyville — 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 64/100 on livability (#50 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A; Watch: cost of living C-, 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.
• Market conditions: 340 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.06% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.49%
• DSCR: 1.47
• GRM: 7.9

CMA / ARV

• ARV (median comp): $383,425
• List price: $215,000
• Delta: -43.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 Bethany Rd	0.54mi	3/2.0 (-1)	1,300 (+8%)	6mo	$320,000	$246	51
38524 Ketch Dr	0.57mi	3/2.0 (-1)	1,286 (+7%)	9mo	$397,500	$309	49
30124 Creekview Cir	0.71mi	3/2.0 (-1)	1,308 (+9%)	1mo	$403,500	$308	46
37234 Roxana Rd	0.31mi	3/1.5 (-1)	1,360 (+13%)	16mo	$300,000	$221	42
48 Bethany Rd	0.60mi	3/2.0 (-1)	1,372 (+14%)	22mo	$265,000	$193	24

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,428
• Equity at exit: $32,057

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $41,504
• Equity at exit: $18,589

Cash invested: $60,200 (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 19975

• Home prices YoY: -11.2%
• Active inventory: 340
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,273 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $526

Break-even live

Break-even rent $1,607

Max offer price $215,000

Occupancy floor 72%

Sensitivity live

Price	-10% $648	-5% $587	+0% $526	+5% $465	+10% $404
Rent	-10% $347	-5% $436	+0% $526	+5% $616	+10% $706
Rate	-1.0pp $634	-0.5pp $581	base $526	+0.5pp $470	+1.0pp $414

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $215,000 Active 36 DOM
2. 2026-06-17
   days on market $215,000 Active 35 DOM
3. 2026-06-16
   days on market $215,000 Active 34 DOM
4. 2026-06-13
   days on market $215,000 Active 33 DOM
5. 2026-06-10
   days on market $215,000 Active 31 DOM
6. 2026-06-09
   days on market $215,000 Active 30 DOM
7. 2026-06-09
   price $215,000 Active 29 DOM
8. 2026-06-08
   days on market $235,000 Active 29 DOM
9. 2026-06-07
   days on market $235,000 Active 28 DOM
10. 2026-06-02
    days on market $235,000 Active 23 DOM
11. 2026-06-01
    days on market $235,000 Active 22 DOM
12. 2026-05-31
    days on market $235,000 Active 21 DOM
13. 2026-05-30
    days on market $235,000 Active 20 DOM
14. 2026-05-11
    listed $250,000 Active 1415-char remark
15. 2026-05-10
    historical $250,000 1415-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $628 · $52/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$310/yr (+$26/mo · 49.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,274
• − Mortgage interest: −$12,043
• − Property taxes: −$628
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − Depreciation: −$6,255
• Taxable income: $2,909
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $5,615/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 — Selbyville

• Score: 64/100
• State rank: #50
• US rank: #13901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,356

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Slovak 4% Russian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 2% 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: ▼ -43.61%
• Current HPI: 345.1746
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-14.0% since first listed

6 events — show timeline

• 2026-06-16 Relisted — BRIGHT MLS
• 2026-06-13 Listing Removed — BRIGHT MLS
• 2026-06-08 Price Changed $215,000 BRIGHT MLS
• 2026-05-29 Price Changed $235,000 BRIGHT MLS
• 2026-05-11 Listed $250,000 BRIGHT MLS
• 2026-05-10 Coming Soon $250,000 BRIGHT MLS