21280 G St Unit G-13 · Rehoboth Beach, DE 19971

$199,900

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 107 Days on market

Built 2017 Good condition 4,356 sqft lot $149/sqft · 41% above area Est $142k · 41% over ↓ 17% since listing

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Why this score? — see what drove the C+ 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Pond views from your backyard! Fully furnished. .. and includes a🚗 Golf Cart 🚙 Rehoboth Bay Community has boat slips for rent, a community boat ramp, a boat storage area, a bayfront pool, a crabbing/fishing pier, a little sandy beach, tennis/pickleball courts & more! And it is just 6.5 miles to the famous Rehoboth boardwalk. This 2017 Skyline features vaulted ceilings, drywall, and crown moulding accents. Open concept floor plan. The living room opens to the dining area, which adjoins the kitchen. The kitchen has a center island and stainless steel appliances. The appliances include, a fridge, smooth-top electric range, built-in microwave, and a dishwasher. There is a second full-si

Key facts

• 4,356 sq ft lot
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 1.1% in Rehoboth Beach — 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 71/100 on livability (#20 in DE) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, employment A+; Watch: crime F, 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: 331 active listings in the ZIP; 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 ($102k/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 $6k 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.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

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 $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 A-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?
6. 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?
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: 1.34% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.58%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $142,062
• List price: $199,900
• Delta: 40.71%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21730 B St	0.22mi	3/2.0	1,350 (+0%)	5mo	$230,000	$170	85
35988 Jake Dr	0.19mi	3/2.0	1,344 (0%)	9mo	$188,900	$141	83
21272 M St Unit M-1	0.09mi	3/2.0	1,200 (-11%)	0mo	$168,000	$140	77
21229 N Street	0.18mi	2/2.0 (-1)	1,188 (-12%)	1mo	$175,000	$147	66
21749 E St	0.42mi	3/2.0	1,272 (-5%)	7mo	$237,000	$186	66
21780 D St	0.47mi	3/2.0	1,392 (+4%)	8mo	$195,000	$140	65
21251 K St #38492	0.08mi	2/2.0 (-1)	1,152 (-14%)	4mo	$115,000	$100	64
21715 A St	0.39mi	3/2.0	1,200 (-11%)	3mo	$155,000	$129	62
21729 F St #18035	0.39mi	2/2.0 (-1)	1,200 (-11%)	16mo	$146,625	$122	46
21808 C St	0.52mi	2/1.0 (-1)	1,400 (+4%)	17mo	$170,000	$121	45
2 Branchwood Cir Unit A-14	0.73mi	3/2.0	1,540 (+15%)	2mo	$215,000	$140	40
36518 Harmon Bay Blvd #27	0.71mi	3/2.0	1,487 (+11%)	12mo	$585,000	$393	39

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-15,099
• Equity at exit: $29,806

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $10,017
• Equity at exit: $17,284

Cash invested: $55,972 (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 19971

• Active inventory: 331
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,669 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $266

Break-even live

Break-even rent $2,331

Max offer price $199,900

Occupancy floor 85%

Sensitivity live

Price	-10% $405	-5% $336	+0% $266	+5% $197	+10% $128
Rent	-10% $56	-5% $161	+0% $266	+5% $372	+10% $477
Rate	-1.0pp $367	-0.5pp $317	base $266	+0.5pp $215	+1.0pp $162

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $199,900 Active 107 DOM
2. 2026-06-17
   days on market $199,900 Active 106 DOM
3. 2026-06-16
   days on market $199,900 Active 105 DOM
4. 2026-06-15
   days on market $199,900 Active 104 DOM
5. 2026-06-14
   days on market $199,900 Active 102 DOM
6. 2026-06-13
   days on market $199,900 Active 101 DOM
7. 2026-06-10
   days on market $199,900 Active 99 DOM
8. 2026-06-09
   days on market $199,900 Active 98 DOM
9. 2026-06-08
   days on market $199,900 Active 97 DOM
10. 2026-06-07
    days on market $199,900 Active 96 DOM
11. 2026-06-05
    days on market $199,900 Active 93 DOM
12. 2026-06-03
    days on market $199,900 Active 92 DOM
13. 2026-06-02
    days on market $199,900 Active 91 DOM
14. 2026-06-01
    days on market $199,900 Active 90 DOM
15. 2026-05-31
    days on market $199,900 Active 89 DOM
16. 2026-05-30
    days on market $199,900 Active 88 DOM
17. 2026-05-18
    price $199,900
18. 2026-04-29
    price $204,900
19. 2026-03-04
    price $209,900
20. 2026-03-03
    listed $239,500 Active

ⓘ 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 7/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°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: $32,025
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$6,524
• − Repairs & maintenance: −$2,562
• − Management: −$2,562
• − Depreciation: −$5,815
• Taxable income: $365
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $3,110/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 · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance. The highest-ROI updates include painting the exterior siding, replacing the carpet with hardwood flooring, and installing smart home devices.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Resale Replace carpet with hardwood flooring — Improves aesthetic and value
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Resale Replace carpet with hardwood flooring — Improves aesthetic and value ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Rehoboth Beach

• Score: 71/100
• State rank: #20
• US rank: #6520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 14,886
• Metro: Salisbury, MD-DE
• Population (ZIP): 14,886
• Household income: $102,146
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 317.0

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% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▼ -220.39%
• Current HPI: 353.3977
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

-16.5% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $199,900 BRIGHT MLS
• 2026-04-29 Price Changed $204,900 BRIGHT MLS
• 2026-03-04 Price Changed $209,900 BRIGHT MLS
• 2026-03-03 Listed $239,500 BRIGHT MLS