33959 Camelia #17288 · Lewes, DE 19958

$62,000

2 bd · 1.0 ba · 1,000 sqft · Manufactured · 856 Days on market

Built 1970 7,000 sqft lot $62/sqft · 37% below area Est $98k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

Key facts

• 7,000 sq ft lot
• 3 parking spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 1.7% 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.
• Market conditions: Rents flat; 818 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 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 + 0.8% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 856 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $66k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $62k implies a 143% gain — meaningful room to come down on a strong offer.

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 $54,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 856 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.16% ✓
• Cap rate: 27.95%
• Cash-on-cash: 77.33%
• DSCR: 4.44
• GRM: 2.6

CMA / ARV

• ARV (median comp): $97,904
• List price: $62,000
• Delta: -36.67%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33987 Sunflower Rd #3831	0.08mi	2/1.0	1,000 (0%)	2mo	$56,000	$56	94

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: 39.2%
• Equity multiple: 2.61×
• Total profit: $27,895
• Equity at exit: $9,244

10-year hold

• IRR: 44.1%
• Equity multiple: 4.61×
• Total profit: $62,680
• Equity at exit: $5,361

Cash invested: $17,360 (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 19958

• Rents YoY: 0.8%
• Active inventory: 818
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,958 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $658

Break-even live

Break-even rent $1,125

Max offer price $62,000

Occupancy floor 61%

Sensitivity live

Price	-10% $701	-5% $680	+0% $658	+5% $637	+10% $615
Rent	-10% $504	-5% $581	+0% $658	+5% $736	+10% $813
Rate	-1.0pp $690	-0.5pp $674	base $658	+0.5pp $642	+1.0pp $626

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33725 Skiff Aly #5309 Lewes, DE	2.0	2.0	844	$1,800	$2.13	21d	1	0.18mi
33707 Skiff Aly #207 Lewes, DE	2.0	2.0	1227	$1,800	$1.47	14d	1	0.20mi
33530 Old Salt Ln #1206 Lewes, DE	2.0	2.0	1313	$2,150	$1.64	44d	1	0.29mi
19646 Ward Rd Lewes, DE	1.0	1.0	800	$2,000	$2.50	44d	1	1.31mi

Listing history 31 events

1. 2026-06-18
   days on market $62,000 Active 856 DOM
2. 2026-06-17
   days on market $62,000 Active 855 DOM
3. 2026-06-16
   days on market $62,000 Active 854 DOM
4. 2026-06-15
   days on market $62,000 Active 853 DOM
5. 2026-06-14
   days on market $62,000 Active 851 DOM
6. 2026-06-13
   days on market $62,000 Active 850 DOM
7. 2026-06-10
   days on market $62,000 Active 848 DOM
8. 2026-06-09
   days on market $62,000 Active 847 DOM
9. 2026-06-08
   days on market $62,000 Active 846 DOM
10. 2026-06-07
    days on market $62,000 Active 845 DOM
11. 2026-06-05
    days on market $62,000 Active 842 DOM
12. 2026-06-03
    days on market $62,000 Active 841 DOM
13. 2026-06-02
    days on market $62,000 Active 840 DOM
14. 2026-06-01
    days on market $62,000 Active 839 DOM
15. 2026-05-31
    days on market $62,000 Active 838 DOM
16. 2026-05-30
    days on market $62,000 Active 837 DOM
17. 2025-09-06
    price $62,000 374-char remark

    Show marketing remark (374 chars)

    Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

18. 2025-07-08
    price $79,900 374-char remark

    Show marketing remark (374 chars)

    Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

19. 2025-05-14
    price $82,000 374-char remark

    Show marketing remark (374 chars)

    Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

20. 2024-10-18
    price $99,000 374-char remark

    Show marketing remark (374 chars)

    Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

21. 2024-02-13
    listed $128,000 Active 374-char remark

    Show marketing remark (374 chars)

    Waterfront park with marina, boat slips and boat ramp available close to beaches and shopping. This newly renovated singlewide with complete roof , siding and porch. has 2nd floor loft that could make an additional bedroom. New windows and appliances and ready to go for your summer season or great year round living. Has 2 storage sheds and even includes crab pots. 4808-UL

22. 2021-08-21
    listed $29,900 246-char remark

    Show marketing remark (246 chars)

    Waterfront community with boat ramp and marina. Located next to crabbing Bridge. 2 Bedroom 1 Bath singlewide with Large sunroom. New paint and heating and A/C unit. 2 Storage sheds with large concrete patio. Boating access to fishing ang crabbing

23. 2021-08-21
    historical 246-char remark

    Show marketing remark (246 chars)

    Waterfront community with boat ramp and marina. Located next to crabbing Bridge. 2 Bedroom 1 Bath singlewide with Large sunroom. New paint and heating and A/C unit. 2 Storage sheds with large concrete patio. Boating access to fishing ang crabbing

24. 2021-08-21
    soldstatus $25,500 Closed 246-char remark

    Show marketing remark (246 chars)

    Waterfront community with boat ramp and marina. Located next to crabbing Bridge. 2 Bedroom 1 Bath singlewide with Large sunroom. New paint and heating and A/C unit. 2 Storage sheds with large concrete patio. Boating access to fishing ang crabbing

25. 2016-03-19
    soldstatus $10,000
26. 2016-02-29
    historical
27. 2014-06-04
    listed $13,000
28. 2009-08-14
    soldstatus $12,200
29. 2008-07-15
    listed $13,900
30. 2008-02-28
    historical
31. 2007-09-22
    listed $19,900

ⓘ 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 ≥102°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: $23,502
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$5,835
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − Depreciation: −$1,804
• Taxable income: $7,700
• Est. tax owed @ 24.0%: −$1,848
• After-tax cash flow: $6,052/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: 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

+211.6% since first listed

15 events — show timeline

• 2025-09-06 Price Changed $62,000 BRIGHT MLS
• 2025-07-08 Price Changed $79,900 BRIGHT MLS
• 2025-05-14 Price Changed $82,000 BRIGHT MLS
• 2024-10-18 Price Changed $99,000 BRIGHT MLS
• 2024-02-13 Listed $128,000 BRIGHT MLS
• 2021-08-21 Sold (MLS) $25,500 BRIGHT MLS
• 2021-08-21 Listing Removed — BRIGHT MLS
• 2021-08-21 Listed $29,900 BRIGHT MLS
• 2016-03-19 Sold (MLS) $10,000 BRIGHT MLS
• 2016-02-29 Listing Removed — BRIGHT MLS
• 2014-06-04 Listed $13,000 BRIGHT MLS
• 2009-08-14 Sold (MLS) $12,200 BRIGHT MLS
• 2008-07-15 Listed $13,900 BRIGHT MLS
• 2008-02-28 Listing Removed — BRIGHT MLS
• 2007-09-22 Listed $19,900 BRIGHT MLS