34695 Deck St Unit E-160 · Long Neck, DE 19966

$149,000

2 bd · 2.0 ba · 1,442 sqft · Manufactured · 204 Days on market

Built 1976 $103/sqft · 35% below area Est $229k · 35% 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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your dream coastal retreat in the heart of Bayside, the original Pot-Nets Community! This stunning 3-bedroom, 2-bath home spans little over 1400 sq ft and is perfectly situated between the picturesque Indian River and Rehoboth Bays, offering you the ultimate waterfront lifestyle. Imagine stepping onto your welcoming porch after a sun-soaked day at the beach, drink in hand, as you soak in the serene surroundings. The spacious primary bedroom features a stylish accent wall and is conveniently located next to an oversized bathroom complete with a luxurious shower. On the opposite side, you'll find another beautifully appointed bedroom, a functional laundry area, a guest bath, and a cozy smaller room that can easily serve as an office or additional guest space. The heart of the home boasts a generous kitchen and dining area equipped with newer appliances and a stunning light fixture, while the extra-large family room is bathed in natural light, creating an inviting atmosphere for relaxation and entertainment. Plus, a handy storage shed in the rear is perfect for stowing away all your beach toys and outdoor gear. Embrace the beach life and make this Bayside gem your own!

Key facts

• Luxurious shower
• Waterfront lifestyle
• Oversized bathroom

Tags

• ORIGINAL POT-NETS COMMUNITY
• WATERFRONT LIFESTYLE
• WELCOMING PORCH
• SPACIOUS PRIMARY BEDROOM
• OVERSIZED BATHROOM
• LUXURIOUS SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.2% in Long Neck — 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 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.
• 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: 865 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 31% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $149k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 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 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.35% ✓
• Cap rate: 10.77%
• Cash-on-cash: 16.00%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $229,435
• List price: $149,000
• Delta: -35.06%
• 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
34651 Deck St	0.08mi	3/1.5 (+1)	1,476 (+2%)	7mo	$40,000	$27	80
27287 Seabreeze Rd #5643	0.47mi	2/2.0	1,320 (-8%)	6mo	$125,000	$95	59
34433 River Rd #4972	0.57mi	3/2.0 (+1)	1,510 (+5%)	20mo	$45,000	$30	44
35317 Fishermans Rd #5751	0.62mi	2/1.5	1,300 (-10%)	19mo	$62,000	$48	37
34122 Sassafras Rd #228	0.66mi	3/1.0 (+1)	1,330 (-8%)	23mo	$105,000	$79	28

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $11,310
• Equity at exit: $22,216

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $55,586
• Equity at exit: $12,883

Cash invested: $41,720 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 865
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,007 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $556

Break-even live

Break-even rent $1,303

Max offer price $149,000

Occupancy floor 67%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35829 S Gloucester Cir Unit 35829 Long Neck, DE	3.0	2.5	1500	$1,995	$1.33	13d	1	0.83mi

Listing history 41 events

1. 2026-06-18
   days on market $149,000 Active 204 DOM
2. 2026-06-17
   days on market $149,000 Active 203 DOM
3. 2026-06-16
   days on market $149,000 Active 202 DOM
4. 2026-06-15
   days on market $149,000 Active 201 DOM
5. 2026-06-14
   days on market $149,000 Active 199 DOM
6. 2026-06-13
   days on market $149,000 Active 198 DOM
7. 2026-06-10
   days on market $149,000 Active 196 DOM
8. 2026-06-09
   days on market $149,000 Active 195 DOM
9. 2026-06-08
   days on market $149,000 Active 194 DOM
10. 2026-06-07
    days on market $149,000 Active 193 DOM
11. 2026-05-31
    days on market $149,000 Active 188 DOM
12. 2026-05-30
    days on market $149,000 Active 187 DOM
13. 2026-04-22
    price $149,000 1193-char remark

    Show marketing remark (1193 chars)

    Discover your dream coastal retreat in the heart of Bayside, the original Pot-Nets Community! This stunning 3-bedroom, 2-bath home spans little over 1400 sq ft and is perfectly situated between the picturesque Indian River and Rehoboth Bays, offering you the ultimate waterfront lifestyle. Imagine stepping onto your welcoming porch after a sun-soaked day at the beach, drink in hand, as you soak in the serene surroundings. The spacious primary bedroom features a stylish accent wall and is conveniently located next to an oversized bathroom complete with a luxurious shower. On the opposite side, you'll find another beautifully appointed bedroom, a functional laundry area, a guest bath, and a cozy smaller room that can easily serve as an office or additional guest space. The heart of the home boasts a generous kitchen and dining area equipped with newer appliances and a stunning light fixture, while the extra-large family room is bathed in natural light, creating an inviting atmosphere for relaxation and entertainment. Plus, a handy storage shed in the rear is perfect for stowing away all your beach toys and outdoor gear. Embrace the beach life and make this Bayside gem your own!

14. 2025-11-24
    listed $159,000 Active 1193-char remark

    Show marketing remark (1193 chars)

    Discover your dream coastal retreat in the heart of Bayside, the original Pot-Nets Community! This stunning 3-bedroom, 2-bath home spans little over 1400 sq ft and is perfectly situated between the picturesque Indian River and Rehoboth Bays, offering you the ultimate waterfront lifestyle. Imagine stepping onto your welcoming porch after a sun-soaked day at the beach, drink in hand, as you soak in the serene surroundings. The spacious primary bedroom features a stylish accent wall and is conveniently located next to an oversized bathroom complete with a luxurious shower. On the opposite side, you'll find another beautifully appointed bedroom, a functional laundry area, a guest bath, and a cozy smaller room that can easily serve as an office or additional guest space. The heart of the home boasts a generous kitchen and dining area equipped with newer appliances and a stunning light fixture, while the extra-large family room is bathed in natural light, creating an inviting atmosphere for relaxation and entertainment. Plus, a handy storage shed in the rear is perfect for stowing away all your beach toys and outdoor gear. Embrace the beach life and make this Bayside gem your own!

15. 2025-11-18
    historical
16. 2025-09-05
    price $164,900
17. 2025-06-26
    price $174,900
18. 2025-04-01
    price $179,900
19. 2024-11-30
    listed $189,000 Active
20. 2024-11-29
    historical
21. 2021-03-31
    historical
22. 2021-03-31
    soldstatus $74,000 Closed
23. 2021-03-22
    status Pending
24. 2021-02-21
    historical Active Under Contract
25. 2021-02-20
    listed $69,000 Active
26. 2020-04-07
    soldstatus $59,000 Closed
27. 2020-03-30
    status Pending
28. 2020-03-14
    historical Active Under Contract
29. 2020-02-13
    price $60,000
30. 2020-01-02
    status Active
31. 2019-12-31
    historical
32. 2019-08-29
    price $75,000
33. 2019-08-05
    price $89,900
34. 2019-07-23
    price $94,900
35. 2019-06-06
    price $99,900
36. 2019-05-24
    price $105,000
37. 2019-01-29
    price $109,500
38. 2018-12-10
    listed $119,500 Active
39. 2017-07-05
    soldstatus $9,000
40. 2017-05-21
    historical
41. 2016-09-02
    listed $12,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 44% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°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: $24,090
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − Depreciation: −$4,335
• Taxable income: $4,574
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $5,576/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 — 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

• Census place: Long Neck, DE
• County: Sussex County · 82,708 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 464.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 8% Two or more races 7% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -18.26%
• Current HPI: 268.5609
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

+1141.7% since first listed

29 events — show timeline

• 2026-04-22 Price Changed $149,000 BRIGHT MLS
• 2025-11-24 Listed $159,000 BRIGHT MLS
• 2025-11-18 Listing Removed — BRIGHT MLS
• 2025-09-05 Price Changed $164,900 BRIGHT MLS
• 2025-06-26 Price Changed $174,900 BRIGHT MLS
• 2025-04-01 Price Changed $179,900 BRIGHT MLS
• 2024-11-30 Listed $189,000 BRIGHT MLS
• 2024-11-29 Coming Soon — BRIGHT MLS
• 2021-03-31 Listing Removed — BRIGHT MLS
• 2021-03-31 Sold (MLS) $74,000 BRIGHT MLS
• 2021-03-22 Pending — BRIGHT MLS
• 2021-02-21 Contingent — BRIGHT MLS
• 2021-02-20 Listed $69,000 BRIGHT MLS
• 2020-04-07 Sold (MLS) $59,000 BRIGHT MLS
• 2020-03-30 Pending — BRIGHT MLS
• 2020-03-14 Contingent — BRIGHT MLS
• 2020-02-13 Price Changed $60,000 BRIGHT MLS
• 2020-01-02 Relisted — BRIGHT MLS
• 2019-12-31 Listing Removed — BRIGHT MLS
• 2019-08-29 Price Changed $75,000 BRIGHT MLS
• 2019-08-05 Price Changed $89,900 BRIGHT MLS
• 2019-07-23 Price Changed $94,900 BRIGHT MLS
• 2019-06-06 Price Changed $99,900 BRIGHT MLS
• 2019-05-24 Price Changed $105,000 BRIGHT MLS
• 2019-01-29 Price Changed $109,500 BRIGHT MLS
• 2018-12-10 Listed $119,500 BRIGHT MLS
• 2017-07-05 Sold (MLS) $9,000 BRIGHT MLS
• 2017-05-21 Listing Removed — BRIGHT MLS
• 2016-09-02 Listed $12,000 BRIGHT MLS