Robert - Build on Your Lot Plan · Lewes, DE 19958

$304,990

3 bd · 2.0 ba · 1,510 sqft · SingleFamily · 763 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Cash flow +2.1/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This price does not include land. We can help you find the perfect lot for your new Aurora Home. Contact us to start the process today! The Robert helps you create connection with its large kitchen and great room spaces. The plan also gives the owner's suite privacy. The entry to the owner's suite isn't off the main living space as is typical in plans of this size. The unique layout of the Robert allows for connection to the outdoors on smaller narrow lots. Note: The price reflects the price of the home itself and does not include the property. You are responsible for providing the property on which these plans will be built.

Key facts

• 2 parking spots
• Listed 763 days

Tags

• LARGE KITCHEN AND GREAT ROOM
• OWNER'S SUITE PRIVACY

🏗️ New construction. The $304,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $562,435.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (24.2% below list).
• Recommended offer: $231k (24.2% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents flat; 818 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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 $4k of loan paydown is wiped out by about $17k 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 763 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• 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 $231,169 (24.2% 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 763 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 0.41% ✗
• Cap rate: 1.90%
• Cash-on-cash: -15.70%
• DSCR: 0.30
• GRM: 20.3

CMA / ARV

• ARV (median comp): $562,435
• List price: $304,990
• Delta: -45.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
195 Lakeside Dr	0.61mi	3/2.0	1,433 (-5%)	1mo	$455,000	$318	62
276 Lakeside Dr	0.39mi	3/2.0	1,629 (+8%)	14mo	$550,000	$338	57
131 Lakeside Dr	0.59mi	3/2.0	1,616 (+7%)	6mo	$409,000	$253	56
223 Lakeside Dr	0.53mi	3/2.5	1,614 (+7%)	13mo	$450,000	$279	51
76 Gainsborough Dr	0.58mi	3/2.0	1,680 (+11%)	11mo	$475,000	$283	45
91 Gainsborough Dr	0.53mi	3/2.0	1,680 (+11%)	19mo	$370,000	$220	41

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: -49.0%
• Equity multiple: -0.44×
• Total profit: $-227,420
• Equity at exit: $83,861

10-year hold

• IRR: —
• Equity multiple: -1.46×
• Total profit: $-386,798
• Equity at exit: $48,629

Cash invested: $157,482 (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 19958

• Rents YoY: 0.8%
• Active inventory: 818
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,312 high
• Mortgage (P&I): −$2,949
• Tax est. 1.5%: −$703 /mo · $8,437/yr
• Insurance: −$234
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-2,061

Break-even live

Break-even rent $4,920

Max offer price $264,259

Occupancy floor —

Sensitivity live

Price	-10% $-1,672	-5% $-1,866	+0% $-2,061	+5% $-2,255	+10% $-2,449
Rent	-10% $-2,243	-5% $-2,152	+0% $-2,061	+5% $-1,969	+10% $-1,878
Rate	-1.0pp $-1,777	-0.5pp $-1,918	base $-2,061	+0.5pp $-2,206	+1.0pp $-2,355

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: $140,609
• Closing costs: $16,873
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33788 Walnut Grove Dr Lewes, DE	3.0	2.0	1675	$1,995	$1.19	44d	1	0.36mi
18482 Evelynton Rd Lewes, DE	2.0	2.0	1100	$1,650	$1.50	14d	1	0.54mi
117 Lakeside Dr Lewes, DE	3.0	3.0	1728	$2,150	$1.24	44d	1	0.54mi
18520 Drayton Hall Rd #1 Lewes, DE	3.0	2.0	1550	$2,400	$1.55	44d	1	0.55mi
17432 Slipper Shell Way #5 Lewes, DE	3.0	2.0	1840	$2,150	$1.17	22d	1	0.99mi
33176 Denton St Lewes, DE	4.0	3.5	1800	$2,650	$1.47	44d	1	1.14mi
33106 N Village Loop #1103 Lewes, DE	2.0	2.0	1144	$2,000	$1.75	45d	1	1.16mi
17059 S Brandt St #3206 Lewes, DE	2.0	2.0	1052	$1,850	$1.76	22d	1	1.18mi
24238 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	44d	1	1.24mi
12001 Old Vine Blvd Lewes, DE	1.0–2.0	1.0–2.0	987	$3,055	$3.10	14d	17	1.24mi
17054 N Brandt St #1206 Lewes, DE	2.0	2.0	1052	$1,900	$1.81	44d	1	1.25mi
36916 Crooked Hammock Way Lewes, DE	2.0–3.0	2.0	1172	$2,250	$1.92	44d	1	1.25mi
24258 Zinfandel Ln Lewes, DE	2.0	2.0	1300	$2,300	$1.77	44d	1	1.29mi
20141 Riesling Ln #306 Lewes, DE	2.0	2.0	1600	$2,600	$1.62	44d	1	1.32mi
34132 Clay Rd Lewes, DE	4.0	2.0	1585	$2,650	$1.67	14d	1	1.35mi
18834 Bethpage Dr Lewes, DE	3.0	3.0	2100	$2,400	$1.14	44d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $304,990 Active 763 DOM
2. 2026-06-17
   days on market $304,990 Active 762 DOM
3. 2026-06-16
   days on market $304,990 Active 761 DOM
4. 2026-06-15
   days on market $304,990 Active 760 DOM
5. 2026-06-14
   days on market $304,990 Active 758 DOM
6. 2026-06-13
   days on market $304,990 Active 757 DOM
7. 2026-06-10
   days on market $304,990 Active 755 DOM
8. 2026-06-09
   days on market $304,990 Active 754 DOM
9. 2026-06-08
   days on market $304,990 Active 753 DOM
10. 2026-06-07
    days on market $304,990 Active 752 DOM
11. 2026-06-05
    days on market $304,990 Active 749 DOM
12. 2026-06-03
    days on market $304,990 Active 748 DOM
13. 2026-06-02
    days on market $304,990 Active 747 DOM
14. 2026-06-01
    days on market $304,990 Active 746 DOM
15. 2026-05-31
    days on market $304,990 Active 745 DOM
16. 2026-05-30
    days on market $304,990 Active 744 DOM
17. 2024-05-16
    listed $304,990 Active 634-char remark

    Show marketing remark (634 chars)

    This price does not include land. We can help you find the perfect lot for your new Aurora Home. Contact us to start the process today! The Robert helps you create connection with its large kitchen and great room spaces. The plan also gives the owner's suite privacy. The entry to the owner's suite isn't off the main living space as is typical in plans of this size. The unique layout of the Robert allows for connection to the outdoors on smaller narrow lots. Note: The price reflects the price of the home itself and does not include the property. You are responsible for providing the property on which these plans will be built.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $27,740
• − Mortgage interest: −$31,505
• − Property taxes: −$8,437
• − Insurance: −$2,812
• − Repairs & maintenance: −$2,219
• − Management: −$2,219
• − Depreciation: −$16,362
• Taxable loss: −$35,814
• Est. tax savings @ 24.0%: +$8,595
• After-tax cash flow: $-16,132/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 — 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 · 82,708 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: 545.0

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% 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

1 event — show timeline

• 2024-05-16 Listed $304,990 Zillow