59 Tecumseh Pass · Long Neck, DE 19966

$315,000

3 bd · 2.0 ba · 2,156 sqft · Manufactured · 73 Days on market

Built 1998 0.62 ac lot $31/mo HOA · 1% of rent

---

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).

• Cash flow +11.5/30.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

Key facts

• Spacious lot
• Central a/c
• Open layout

Tags

• MOVE IN READY
• ONE LEVEL LIVING
• SPACIOUS LOT
• CENTRAL A/C
• EFFICIENT HEAT PUMP
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $315k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (29.0% below list).
• Recommended offer: $224k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.4% 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+, amenities F, commute 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.
• Zoned schools: Long Neck Elementary School (math 22% / reading 35%, grade F, #57 of 105 statewide, top 55%, 693 students, 0% FRL); Millsboro Middle School (math 24% / reading 42%, grade F, #14 of 36 statewide, top 37%, 771 students, 0% FRL); Sussex Central High School (math 23% / reading 42%, grade F, #24 of 40 statewide, top 59%, 2,039 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 870 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 34% 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 $2k of loan paydown is wiped out by about $9k 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 73 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $45k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; list at $315k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,646 (29.0% 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 73 days. Have you received any prior offers? Is the seller open to a 29% 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: 0.71% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.7%
• Equity multiple: 0.34×
• Total profit: $-57,887
• Equity at exit: $46,968

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-59,645
• Equity at exit: $27,235

Cash invested: $88,200 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 870
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$58 /mo · $692/yr
• Insurance: −$131
• HOA: −$31
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-105

Break-even live

Break-even rent $2,369

Max offer price $296,445

Occupancy floor 100%

Sensitivity live

Price	-10% $73	-5% $-16	+0% $-105	+5% $-194	+10% $-659
Rent	-10% $-282	-5% $-193	+0% $-105	+5% $-17	+10% $72
Rate	-1.0pp $54	-0.5pp $-25	base $-105	+0.5pp $-187	+1.0pp $-270

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32082 Plaza Dr , DE	1.0–3.0	1.0–2.0	1169	$2,019	$1.73	22d	14	0.72mi

HOA detail

• Monthly dues: $31 · $372/yr

Listing history 12 events

1. 2026-05-08
   status Pending 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

2. 2026-05-07
   price $315,000 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

3. 2026-04-27
   price $330,000 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

4. 2026-04-01
   status Active 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

5. 2026-03-24
   status Pending 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

6. 2026-03-22
   price $340,000 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

7. 2026-03-09
   price $345,000 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

8. 2026-02-16
   listed $360,000 Active 666-char remark

   Show marketing remark (666 chars)

   Welcome to this move-in ready Ranch/Rambler style home located in Millsboro, DE. Boasting 3 bedrooms and 2.0 bathrooms, this charming property offers the convenience of one level living on a spacious . 8-acre lot. The residence features central A/C for comfort during the warmer months and efficient heat pump(s) for heating. The open layout of the home provides a cozy atmosphere perfect for families looking for a comfortable abode. Situated in a prime location, this property offers easy access to travel routes leading to Rehoboth and Ocean City, making it ideal for those who enjoy the beach lifestyle. Don't miss the opportunity to make this lovely home yours!

9. 2019-05-30
   soldstatus $210,000
10. 2019-05-17
    soldstatus $210,000 Closed 621-char remark

    Show marketing remark (621 chars)

    This 3 bedroom, 2 bath class C manufactured home is located in the well-established and popular community of Indian Summer Village, minutes from Lewes and Rehoboth Beach. The home site is nestled on a landscaped . 82 acre. The home features a country kitchen with plenty of storage and a breakfast nook. There is a formal dining room. The living room boasts a stone fireplace and opens to large family room which has access to a large rear deck perfect for entertaining or just relaxing. The master bedroom has a walk-in closet and a master bathroom with a Jacuzzi tub and shower. All the rooms have been freshly painted.

11. 2019-04-06
    status Pending 621-char remark

    Show marketing remark (621 chars)

    This 3 bedroom, 2 bath class C manufactured home is located in the well-established and popular community of Indian Summer Village, minutes from Lewes and Rehoboth Beach. The home site is nestled on a landscaped . 82 acre. The home features a country kitchen with plenty of storage and a breakfast nook. There is a formal dining room. The living room boasts a stone fireplace and opens to large family room which has access to a large rear deck perfect for entertaining or just relaxing. The master bedroom has a walk-in closet and a master bathroom with a Jacuzzi tub and shower. All the rooms have been freshly painted.

12. 2019-03-07
    listed $235,000 Active 621-char remark

    Show marketing remark (621 chars)

    This 3 bedroom, 2 bath class C manufactured home is located in the well-established and popular community of Indian Summer Village, minutes from Lewes and Rehoboth Beach. The home site is nestled on a landscaped . 82 acre. The home features a country kitchen with plenty of storage and a breakfast nook. There is a formal dining room. The living room boasts a stone fireplace and opens to large family room which has access to a large rear deck perfect for entertaining or just relaxing. The master bedroom has a walk-in closet and a master bathroom with a Jacuzzi tub and shower. All the rooms have been freshly painted.

ⓘ 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: $692 · $58/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$567/yr (+$47/mo · 81.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 19 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: $26,838
• − Mortgage interest: −$17,645
• − Property taxes: −$692
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − HOA: −$372
• − Depreciation: −$9,164
• Taxable loss: −$6,904
• Est. tax savings @ 24.0%: +$1,657
• After-tax cash flow: $397/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

• 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

+34.0% since first listed

12 events — show timeline

• 2026-05-08 Pending — BRIGHT MLS
• 2026-05-07 Price Changed $315,000 BRIGHT MLS
• 2026-04-27 Price Changed $330,000 BRIGHT MLS
• 2026-04-01 Relisted — BRIGHT MLS
• 2026-03-24 Pending — BRIGHT MLS
• 2026-03-22 Price Changed $340,000 BRIGHT MLS
• 2026-03-09 Price Changed $345,000 BRIGHT MLS
• 2026-02-16 Listed $360,000 BRIGHT MLS
• 2019-05-30 Sold (Public Records) $210,000 Public Records
• 2019-05-17 Sold (MLS) $210,000 BRIGHT MLS
• 2019-04-06 Pending — BRIGHT MLS
• 2019-03-07 Listed $235,000 BRIGHT MLS

Property tax history

+5.7%/yr

Latest (2025): $692 · -8.0% YoY. Source: county tax records.