31420 Barefoot Cir · Long Neck, DE 19951

$515,000

3 bd · 4.0 ba · 1,696 sqft · SingleFamily public records · 99 Days on market

Built 2022 0.31 ac lot $304/sqft · 18% above area Est $597k · 14% under $200/mo HOA · 7% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +13.7/15.0
• Cash flow +5.8/30.0
• Appreciation +5.2/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.2/10.0

Listing remarks MLS

Discover this beautifully upgraded Bramante 2-Story model in the sought-after community of Spring Breeze, located within the highly desirable Cape Henlopen School District. Built in 2022, this nearly new 3-bedroom, 3 full bath home offers over 2,300 square feet of thoughtfully designed living space, including a dedicated office/flex room and numerous custom upgrades throughout. Step inside to an inviting open-concept floor plan featuring 10-foot ceilings, luxury vinyl plank flooring throughout the main living area and kitchen, and a bright great room anchored by a cozy gas fireplace. The well-appointed kitchen features stainless steel appliances, gas range cooking, quartz countertops, a pantry, and a large island with bar seating, making it ideal for both everyday living and entertaining. The spacious breakfast area opens to the covered rear porch, creating the perfect space for morning coffee or relaxing evenings outdoors. The privately situated primary suite offers a spacious retreat with an oversized walk-in closet, double vanity, and a large tiled shower. A first-floor guest bedroom and full bath provide comfort and privacy for visitors, while the flex room is ideal for a home office, den, or could easily be converted into a 4th bedroom. Upstairs, a generous loft area provides additional living or recreational space, along with another guest bedroom featuring a walk-in closet and full bath. A large walk-in attic storage room completes the second level. Residents of Spring Breeze enjoy community amenities including a pool, clubhouse, and fitness room, and lawn care is included in the HOA dues for added convenience. This secluded woodland community offers peaceful surroundings while remaining just 10 miles from downtown Lewes and Rehoboth Beach, where you can enjoy tax-free shopping, award-winning dining, and Delaware’s beautiful beaches. Don’t miss this opportunity to own a piece of coastal Delaware living.

Key facts

• Gas fireplace
• Custom upgrades
• Great room

Tags

• DEDICATED OFFICE FLEX ROOM
• CUSTOM UPGRADES
• OPEN-CONCEPT FLOOR PLAN
• LUXURY VINYL PLANK FLOORING
• GREAT ROOM
• GAS FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $515k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $332k (35.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (46.8% below list).
• Recommended offer: $274k (46.8% below list) — sets the bar for 1% rule.

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.
• 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: 122 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($4k loan paydown + $2k appreciation (0.4% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($469k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $35k (6%) 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $273,809 (46.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.53% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.64%
• DSCR: 0.62
• GRM: 15.7

CMA / ARV

• ARV (median comp): $596,956
• List price: $515,000
• Delta: -13.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21532 Capitan Loop	0.03mi	3/2.0	1,715 (+1%)	9mo	$469,900	$274	81
31716 Impetus Rd	0.28mi	4/2.0 (+1)	1,700 (+0%)	6mo	$410,000	$241	69
21689 Capitan Loop	0.20mi	3/2.0	1,574 (-7%)	13mo	$485,000	$308	60
24035 Zephyr Ct	0.28mi	4/2.0 (+1)	1,705 (+0%)	17mo	$453,000	$266	59
31833 Geyser Ct	0.57mi	4/2.0 (+1)	1,705 (+0%)	1mo	$428,000	$251	59
31415 Artesian Ave	0.46mi	4/2.0 (+1)	1,706 (+1%)	9mo	$428,000	$251	57
21643 Beauchamp Ln	0.45mi	3/2.0	1,861 (+10%)	3mo	$480,000	$258	52
31815 Geyser Ct	0.61mi	4/2.0 (+1)	1,667 (-2%)	8mo	$375,000	$225	49
31840 Geyser Ct	0.54mi	4/2.0 (+1)	1,685 (-1%)	22mo	$439,900	$261	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.51×
• Total profit: $-71,048
• Equity at exit: $160,528

10-year hold

• IRR: -4.2%
• Equity multiple: 0.53×
• Total profit: $-68,303
• Equity at exit: $201,964

Cash invested: $144,200 (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 19951

• Home prices YoY: 0.1%
• Active inventory: 122
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,738 medium
• Mortgage (P&I): −$2,701
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$215
• HOA: −$200
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-1,038

Break-even live

Break-even rent $4,052

Max offer price $331,572

Occupancy floor —

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: $128,750
• Closing costs: $15,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22191 Holly Oak Ln Lewes, DE	3.0	2.5	1758	$2,800	$1.59	43d	1	0.93mi
29988 W Barrier Reef Blvd Lewes, DE	3.0	2.0	1825	$2,645	$1.45	13d	1	1.34mi

HOA detail

• Monthly dues: $200 · $2,400/yr
• Likely covers: gaslandscapingpool

Listing history 24 events

1. 2026-06-18
   days on market $515,000 Active 99 DOM
2. 2026-06-17
   days on market $515,000 Active 98 DOM
3. 2026-06-16
   days on market $515,000 Active 97 DOM
4. 2026-06-15
   days on market $515,000 Active 96 DOM
5. 2026-06-14
   days on market $515,000 Active 94 DOM
6. 2026-06-13
   days on market $515,000 Active 93 DOM
7. 2026-06-10
   days on market $515,000 Active 91 DOM
8. 2026-06-09
   days on market $515,000 Active 90 DOM
9. 2026-06-08
   days on market $515,000 Active 89 DOM
10. 2026-06-07
    pricedays on market $515,000 Active 88 DOM
11. 2026-06-05
    days on market $525,000 Active 85 DOM
12. 2026-06-03
    days on market $525,000 Active 84 DOM
13. 2026-06-02
    days on market $525,000 Active 83 DOM
14. 2026-06-01
    days on market $525,000 Active 82 DOM
15. 2026-05-31
    days on market $525,000 Active 81 DOM
16. 2026-05-30
    days on market $525,000 Active 80 DOM
17. 2026-05-13
    price $525,000 1955-char remark

    Show marketing remark (1955 chars)

    Discover this beautifully upgraded Bramante 2-Story model in the sought-after community of Spring Breeze, located within the highly desirable Cape Henlopen School District. Built in 2022, this nearly new 3-bedroom, 3 full bath home offers over 2,300 square feet of thoughtfully designed living space, including a dedicated office/flex room and numerous custom upgrades throughout. Step inside to an inviting open-concept floor plan featuring 10-foot ceilings, luxury vinyl plank flooring throughout the main living area and kitchen, and a bright great room anchored by a cozy gas fireplace. The well-appointed kitchen features stainless steel appliances, gas range cooking, quartz countertops, a pantry, and a large island with bar seating, making it ideal for both everyday living and entertaining. The spacious breakfast area opens to the covered rear porch, creating the perfect space for morning coffee or relaxing evenings outdoors. The privately situated primary suite offers a spacious retreat with an oversized walk-in closet, double vanity, and a large tiled shower. A first-floor guest bedroom and full bath provide comfort and privacy for visitors, while the flex room is ideal for a home office, den, or could easily be converted into a 4th bedroom. Upstairs, a generous loft area provides additional living or recreational space, along with another guest bedroom featuring a walk-in closet and full bath. A large walk-in attic storage room completes the second level. Residents of Spring Breeze enjoy community amenities including a pool, clubhouse, and fitness room, and lawn care is included in the HOA dues for added convenience. This secluded woodland community offers peaceful surroundings while remaining just 10 miles from downtown Lewes and Rehoboth Beach, where you can enjoy tax-free shopping, award-winning dining, and Delaware’s beautiful beaches. Don’t miss this opportunity to own a piece of coastal Delaware living.

18. 2026-03-11
    listed $550,000 Active 1955-char remark

    Show marketing remark (1955 chars)

    Discover this beautifully upgraded Bramante 2-Story model in the sought-after community of Spring Breeze, located within the highly desirable Cape Henlopen School District. Built in 2022, this nearly new 3-bedroom, 3 full bath home offers over 2,300 square feet of thoughtfully designed living space, including a dedicated office/flex room and numerous custom upgrades throughout. Step inside to an inviting open-concept floor plan featuring 10-foot ceilings, luxury vinyl plank flooring throughout the main living area and kitchen, and a bright great room anchored by a cozy gas fireplace. The well-appointed kitchen features stainless steel appliances, gas range cooking, quartz countertops, a pantry, and a large island with bar seating, making it ideal for both everyday living and entertaining. The spacious breakfast area opens to the covered rear porch, creating the perfect space for morning coffee or relaxing evenings outdoors. The privately situated primary suite offers a spacious retreat with an oversized walk-in closet, double vanity, and a large tiled shower. A first-floor guest bedroom and full bath provide comfort and privacy for visitors, while the flex room is ideal for a home office, den, or could easily be converted into a 4th bedroom. Upstairs, a generous loft area provides additional living or recreational space, along with another guest bedroom featuring a walk-in closet and full bath. A large walk-in attic storage room completes the second level. Residents of Spring Breeze enjoy community amenities including a pool, clubhouse, and fitness room, and lawn care is included in the HOA dues for added convenience. This secluded woodland community offers peaceful surroundings while remaining just 10 miles from downtown Lewes and Rehoboth Beach, where you can enjoy tax-free shopping, award-winning dining, and Delaware’s beautiful beaches. Don’t miss this opportunity to own a piece of coastal Delaware living.

19. 2021-02-09
    historical
20. 2021-01-27
    listed $407,990 Active
21. 2020-12-02
    status Active
22. 2020-12-02
    historical
23. 2020-12-01
    listed $392,990 Active
24. 2020-12-01
    historical

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $2,010 · $168/mo
• Expected delta: +$977/yr (+$81/mo · 94.5%)

ⓘ 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 ≥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: $32,857
• − Mortgage interest: −$28,848
• − Property taxes: −$1,034
• − Insurance: −$2,575
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − HOA: −$2,400
• − Depreciation: −$14,982
• Taxable loss: −$22,238
• Est. tax savings @ 24.0%: +$5,337
• After-tax cash flow: $-7,123/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 — 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

• Population (ZIP): 1,957

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 (84%)
• Race & ethnicity: White 84% Black 5% Asian 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Scotch-Irish 2% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Other Indo-European 6% Spanish 3% Chinese 2%

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: ▲ 0.42%
• Current HPI: 358.9429
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+33.6% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $525,000 BRIGHT MLS
• 2026-03-11 Listed $550,000 BRIGHT MLS
• 2021-02-09 Listing Removed — BRIGHT MLS
• 2021-01-27 Listed $407,990 BRIGHT MLS
• 2020-12-02 Relisted — BRIGHT MLS
• 2020-12-02 Listing Removed — BRIGHT MLS
• 2020-12-01 Listing Removed — BRIGHT MLS
• 2020-12-01 Listed $392,990 BRIGHT MLS

Property tax history

+44.7%/yr

Latest (2025): $1,034 · -29.9% YoY. Source: county tax records.