33959 Camelia #17288 · Lewes, DE 19958

$43,000

2 bd · 1.0 ba · 1,000 sqft · Manufactured · 954 Days on market

Manufactured home Built 1970 Fair condition 7,000 sqft lot $43/sqft · 23% below area Est $56k · 23% 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
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Appreciation +2.5/10.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.5

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.

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 $43k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $43k).
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.5% vs local median 1.9% 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: Rehoboth Elementary School (math 51% / reading 60%, grade C, #8 of 105 statewide, top 8%, 525 students, 0% FRL); Beacon Middle School (math 49% / reading 62%, grade B-, #1 of 36 statewide, top 0%, 648 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; 1116 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 117d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 954 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $85k (66%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $43k implies a 69% 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 $37,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 954 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 3.54% ✓
• Cap rate: 31.54%
• Cash-on-cash: 90.18%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (median comp): $56,000
• List price: $43,000
• Delta: -23.21%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales 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%)	5mo	$56,000	$56	92
34024 Alyssum Cir Unit 2 (158)	0.05mi	2/2.0	980 (-2%)	5mo	$39,000	$40	86
33950 Camelia Dr	0.02mi	3/1.0 (+1)	924 (-8%)	4mo	$49,900	$54	78
34083 Clematis St	0.18mi	3/1.5 (+1)	924 (-8%)	1mo	$38,500	$42	72
33725 Skiff Aly #310	0.19mi	2/2.0	1,086 (+9%)	2mo	$350,000	$322	71
33737 Skiff Aly #4309	0.21mi	2/2.0	1,100 (+10%)	4mo	$332,500	$302	66
34095 Orchid Ln	0.15mi	3/2.0 (+1)	910 (-9%)	5mo	$53,000	$58	65
33530 Old Salt Ln #209	0.31mi	2/2.0	1,113 (+11%)	2mo	$350,000	$314	61
33530 Old Salt Ln #102	0.31mi	2/2.0	1,113 (+11%)	3mo	$299,900	$269	61
33548 Old Salt Ln #204	0.26mi	2/2.0	1,171 (+17%)	4mo	$492,500	$421	55
33551 Matthew Cir	0.47mi	2/2.0	840 (-16%)	1mo	$68,750	$82	48
1 Oak View Ct	0.64mi	3/2.0 (+1)	1,232 (+23%)	2mo	$387,500	$315	35

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: 37.5%
• Equity multiple: 2.52×
• Total profit: $18,300
• Equity at exit: $6,411

10-year hold

• IRR: 42.3%
• Equity multiple: 4.37×
• Total profit: $40,517
• Equity at exit: $3,718

Cash invested: $12,040 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 2 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 19958

• Rents YoY: 0.8%
• Active inventory: 1116
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,521 high
• Mortgage (P&I): −$225
• Tax est. 1.5%: −$54 /mo · $645/yr
• Insurance: −$18
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $444

Break-even live

Break-even rent $959

Max offer price $43,000

Occupancy floor 66%

Sensitivity live

Price	-10% $474	-5% $459	+0% $444	+5% $430	+10% $415
Rent	-10% $324	-5% $384	+0% $444	+5% $504	+10% $565
Rate	-1.0pp $466	-0.5pp $455	base $444	+0.5pp $433	+1.0pp $422

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: $10,750
• Closing costs: $1,290
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	117d	1	0.18mi
33725 Skiff Aly Lewes, DE	2.0	2.0	1199	$1,950	$1.63	6d	1	0.18mi
33707 Skiff Aly #207 Lewes, DE	2.0	2.0	1227	$1,800	$1.47	109d	1	0.20mi
33548 Old Salt Ln #2306 Lewes, DE	2.0	2.0	1369	$1,950	$1.42	6d	1	0.26mi
33530 Old Salt Ln #1206 Lewes, DE	2.0	2.0	1313	$2,150	$1.64	139d	1	0.29mi
19646 Ward Rd Lewes, DE	1.0	1.0	800	$2,000	$2.50	139d	1	1.31mi

Listing history 50 events

1. 2026-09-24
   days on market $43,000 Active 954 DOM
2. 2026-09-24
   days on market $43,000 Active 953 DOM
3. 2026-09-22
   days on market $43,000 Active 952 DOM
4. 2026-09-21
   days on market $43,000 Active 951 DOM
5. 2026-09-20
   days on market $43,000 Active 950 DOM
6. 2026-09-18
   days on market $43,000 Active 948 DOM
7. 2026-09-17
   days on market $43,000 Active 947 DOM
8. 2026-09-16
   days on market $43,000 Active 946 DOM
9. 2026-09-15
   days on market $43,000 Active 945 DOM
10. 2026-09-14
    days on market $43,000 Active 944 DOM
11. 2026-09-13
    days on market $43,000 Active 943 DOM
12. 2026-09-12
    days on market $43,000 Active 942 DOM
13. 2026-09-11
    days on market $43,000 Active 941 DOM
14. 2026-09-05
    days on market $43,000 Active 935 DOM
15. 2026-09-04
    days on market $43,000 Active 934 DOM
16. 2026-09-03
    days on market $43,000 Active 933 DOM
17. 2026-08-31
    days on market $43,000 Active 930 DOM
18. 2026-08-30
    days on market $43,000 Active 929 DOM
19. 2026-08-29
    days on market $43,000 Active 928 DOM
20. 2026-08-28
    days on market $43,000 Active 927 DOM
21. 2026-08-27
    days on market $43,000 Active 926 DOM
22. 2026-08-25
    days on market $43,000 Active 924 DOM
23. 2026-08-24
    days on market $43,000 Active 923 DOM
24. 2026-08-23
    days on market $43,000 Active 922 DOM
25. 2026-08-22
    days on market $43,000 Active 921 DOM
26. 2026-08-21
    days on market $43,000 Active 920 DOM
27. 2026-08-20
    days on market $43,000 Active 919 DOM
28. 2026-08-19
    days on market $43,000 Active 918 DOM
29. 2026-08-18
    days on market $43,000 Active 917 DOM
30. 2026-08-17
    days on market $43,000 Active 916 DOM
31. 2026-08-16
    days on market $43,000 Active 915 DOM
32. 2026-08-15
    days on market $43,000 Active 914 DOM
33. 2026-08-14
    days on market $43,000 Active 913 DOM
34. 2026-08-13
    days on market $43,000 Active 912 DOM
35. 2026-08-12
    days on market $43,000 Active 911 DOM
36. 2026-08-11
    days on market $43,000 Active 910 DOM
37. 2026-08-10
    days on market $43,000 Active 909 DOM
38. 2026-08-09
    days on market $43,000 Active 908 DOM
39. 2026-08-08
    days on market $43,000 Active 907 DOM
40. 2026-08-07
    days on market $43,000 Active 906 DOM
41. 2026-08-06
    days on market $43,000 Active 905 DOM
42. 2026-08-05
    days on market $43,000 Active 904 DOM
43. 2026-08-04
    days on market $43,000 Active 903 DOM
44. 2026-08-03
    pricedays on market $43,000 Active 902 DOM
45. 2026-07-31
    days on market $54,000 Active 899 DOM
46. 2026-07-30
    days on market $54,000 Active 898 DOM
47. 2026-07-29
    days on market $54,000 Active 897 DOM
48. 2026-07-27
    days on market $54,000 Active 895 DOM
49. 2026-07-25
    days on market $54,000 Active 893 DOM
50. 2026-07-24
    days on market $54,000 Active 892 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 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: $18,257
• − Mortgage interest: −$2,409
• − Property taxes: −$645
• − Insurance: −$5,740
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − Depreciation: −$1,251
• Taxable income: $5,292
• Est. tax owed @ 24.0%: −$1,270
• After-tax cash flow: $4,062/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $25,000–$45,000 screening

This singlewide mobile home requires moderate repairs and maintenance to improve its condition and increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dark, cluttered
• Moderate bathroom fixtures — standard, cluttered
• Moderate exterior siding — worn
• Moderate interior walls — paint worn
• Moderate landscaping — sparse

Value-add opportunities

• Both paint interior walls — enhances appearance ↑
• Both replace kitchen cabinets — modernizes and increases functionality ↑
• Both repair exterior siding — improves curb appeal and value ↑
• Both landscaping — enhances curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 50/100

Zoned Schools

Elementary Rehoboth Elementary School C DE #8/105 Nat'l #9,513/41,679 Middle Beacon Middle School B- DE #1/36 Nat'l #2,418/14,009 High Cape Henlopen High School F DE #14/40 Nat'l #8,796/17,239

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

C Composite livability gradescore 67/100

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 · 248,853 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: 11% of renters

---

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