71 Hitch Pond Cir · Laurel, DE 19973

$70,000

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 192 Days on market

Built 2000 94 ac lot $73/sqft · 48% below area Est $135k · 48% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming double-wide home located in the gated community of Village of Cool Branch. This property offers a great opportunity for someone looking to customize or invest. Enjoy the peaceful setting and all the community amenities, including a pool, playground, and walking trails. Perfect for buyers seeking an affordable home in a well-kept, secure neighborhood close to shopping, dining, and Delaware beaches. Please note: buyers must apply for and obtain park approval from Village of Cool Branch prior to settlement in order to reside in the community.

Key facts

• 94.36 acre lot
• Community pool
• Built 2000

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 3.9% in Laurel — 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 63/100 on livability (#57 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D+, schools F, crime F.
• Seaford School District (suburban): math 25% / reading 40% proficiency, ranked #15 of 26 in DE (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 215 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $15k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.33% ✓
• Cap rate: 21.10%
• Cash-on-cash: 52.90%
• DSCR: 3.35
• GRM: 3.6

CMA / ARV

• ARV (median comp): $135,147
• List price: $70,000
• Delta: -48.20%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 50.9%
• Equity multiple: 3.23×
• Total profit: $43,672
• Equity at exit: $10,437

10-year hold

• IRR: 56.3%
• Equity multiple: 6.55×
• Total profit: $108,839
• Equity at exit: $6,052

Cash invested: $19,600 (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 19973

• Home prices YoY: -17.8%
• Active inventory: 215
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,633 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$30 /mo · $357/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $864

Break-even live

Break-even rent $539

Max offer price $70,000

Occupancy floor 42%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-08
   price $70,000 570-char remark

   Show marketing remark (570 chars)

   Welcome to this charming double-wide home located in the gated community of Village of Cool Branch. This property offers a great opportunity for someone looking to customize or invest. Enjoy the peaceful setting and all the community amenities, including a pool, playground, and walking trails. Perfect for buyers seeking an affordable home in a well-kept, secure neighborhood close to shopping, dining, and Delaware beaches. Please note: buyers must apply for and obtain park approval from Village of Cool Branch prior to settlement in order to reside in the community.

2. 2025-11-17
   listed $85,000 Active 570-char remark

   Show marketing remark (570 chars)

   Welcome to this charming double-wide home located in the gated community of Village of Cool Branch. This property offers a great opportunity for someone looking to customize or invest. Enjoy the peaceful setting and all the community amenities, including a pool, playground, and walking trails. Perfect for buyers seeking an affordable home in a well-kept, secure neighborhood close to shopping, dining, and Delaware beaches. Please note: buyers must apply for and obtain park approval from Village of Cool Branch prior to settlement in order to reside in the community.

3. 2025-11-11
   historical $85,000 570-char remark

   Show marketing remark (570 chars)

   Welcome to this charming double-wide home located in the gated community of Village of Cool Branch. This property offers a great opportunity for someone looking to customize or invest. Enjoy the peaceful setting and all the community amenities, including a pool, playground, and walking trails. Perfect for buyers seeking an affordable home in a well-kept, secure neighborhood close to shopping, dining, and Delaware beaches. Please note: buyers must apply for and obtain park approval from Village of Cool Branch prior to settlement in order to reside in the community.

4. 2002-11-30
   historical
5. 2002-05-06
   listed $40,000

ⓘ 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: $357 · $30/mo
• Projected year-2 tax: $382 · $32/mo
• Expected delta: +$24/yr (+$2/mo · 6.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,595
• − Mortgage interest: −$3,921
• − Property taxes: −$357
• − Insurance: −$350
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$2,036
• Taxable income: $9,795
• Est. tax owed @ 24.0%: −$2,351
• After-tax cash flow: $8,017/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: Seaford School District
• NCES district ID: 1001530
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $48,427
• Composite: 28.07/100
• National rank: #6835
• State rank: #15 of 26 in DE

Livability — Laurel

• Score: 63/100
• State rank: #57
• US rank: #15428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 25,786

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 20% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% Vietnamese 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: ▼ -62.40%
• Current HPI: 288.5652
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+75.0% since first listed

5 events — show timeline

• 2026-04-08 Price Changed $70,000 BRIGHT MLS
• 2025-11-17 Listed $85,000 BRIGHT MLS
• 2025-11-11 Coming Soon $85,000 BRIGHT MLS
• 2002-11-30 Listing Removed — BRIGHT MLS
• 2002-05-06 Listed $40,000 BRIGHT MLS

Property tax history

+2.3%/yr

Latest (2025): $357 · +2.8% YoY. Source: county tax records.