21250 G St #19 · Rehoboth Beach, DE 19971

$97,500

3 bd · 2.0 ba · 924 sqft · SingleFamily · 91 Days on market

Built 1987 Fair condition 4,356 sqft lot $106/sqft · 15% below area Est $115k · 15% 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 +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buyers and their representation to perform due diligence on community, application process, tax records, and property sq ft is estimated. 3.75% real estate transfer tax applies at closing.

Key facts

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

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $98k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $98k).
• Recommended offer: $89k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.4% 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; 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 33% 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 $674 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($89k) 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 $88,725 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
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: 2.89% ✓
• Cap rate: 25.40%
• Cash-on-cash: 68.25%
• DSCR: 4.04
• GRM: 2.9

CMA / ARV

• ARV (median comp): $115,379
• List price: $97,500
• Delta: -15.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21229 M St	0.12mi	3/2.0	924 (0%)	2mo	$133,500	$144	93
21206 N St Unit N-11	0.15mi	2/2.0 (-1)	980 (+6%)	1mo	$125,000	$128	77
21256 M St #36659	0.10mi	3/2.0	980 (+6%)	10mo	$115,000	$117	77
21264 G St Unit G-16	0.03mi	3/2.0	980 (+6%)	15mo	$150,000	$153	76
21720 B St	0.44mi	3/2.0	924 (0%)	4mo	$63,000	$68	76
21233 N St Unit N 22	0.17mi	2/2.0 (-1)	975 (+6%)	3mo	$107,500	$110	76
21263 K St #37217	0.10mi	2/2.0 (-1)	860 (-7%)	10mo	$140,000	$163	71
35971 Jake Dr	0.19mi	3/2.0	1,040 (+13%)	1mo	$148,000	$142	69
21776 E St Unit E-11	0.54mi	2/1.5 (-1)	900 (-3%)	2mo	$112,000	$124	62
21730 E St Unit E-29	0.46mi	3/2.0	1,030 (+12%)	2mo	$128,000	$124	58
21704 C St Unit 4068-LOT C-45	0.41mi	3/1.0	980 (+6%)	12mo	$75,000	$77	57
21726 D St	0.44mi	3/1.0	1,000 (+8%)	10mo	$95,000	$95	54

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: 45.6%
• Equity multiple: 2.98×
• Total profit: $54,101
• Equity at exit: $14,538

10-year hold

• IRR: 51.5%
• Equity multiple: 6.06×
• Total profit: $138,020
• Equity at exit: $8,430

Cash invested: $27,300 (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: 2.9×

Monthly cashflow live

• Estimated rent: $2,818 medium
• Mortgage (P&I): −$511
• Tax est. 1.5%: −$122 /mo · $1,462/yr
• Insurance: −$41
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $1,092

Break-even live

Break-even rent $1,436

Max offer price $97,500

Occupancy floor 56%

Sensitivity live

Price	-10% $1,160	-5% $1,126	+0% $1,092	+5% $1,059	+10% $1,025
Rent	-10% $870	-5% $981	+0% $1,092	+5% $1,204	+10% $1,315
Rate	-1.0pp $1,141	-0.5pp $1,117	base $1,092	+0.5pp $1,067	+1.0pp $1,041

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36400 Warwick Dr Rehoboth Beach, DE	3.0	2.5	792	$3,500	$4.42	44d	1	0.63mi

Listing history 18 events

1. 2026-06-18
   days on market $97,500 Active 91 DOM
2. 2026-06-17
   days on market $97,500 Active 90 DOM
3. 2026-06-16
   days on market $97,500 Active 89 DOM
4. 2026-06-15
   pricedays on market $97,500 Active 88 DOM
5. 2026-06-14
   days on market $100,000 Active 86 DOM
6. 2026-06-13
   days on market $100,000 Active 85 DOM
7. 2026-06-10
   days on market $100,000 Active 83 DOM
8. 2026-06-09
   days on market $100,000 Active 82 DOM
9. 2026-06-08
   days on market $100,000 Active 81 DOM
10. 2026-06-07
    days on market $100,000 Active 80 DOM
11. 2026-06-05
    days on market $100,000 Active 77 DOM
12. 2026-06-03
    days on market $100,000 Active 76 DOM
13. 2026-06-03
    price $100,000 Active 75 DOM
14. 2026-06-02
    days on market $115,000 Active 75 DOM
15. 2026-06-01
    days on market $115,000 Active 74 DOM
16. 2026-05-31
    days on market $115,000 Active 73 DOM
17. 2026-05-30
    days on market $115,000 Active 72 DOM
18. 2026-03-19
    listed $115,000 Active 188-char remark

    Show marketing remark (188 chars)

    Buyers and their representation to perform due diligence on community, application process, tax records, and property sq ft is estimated. 3.75% real estate transfer tax applies at closing.

ⓘ 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: $33,822
• − Mortgage interest: −$5,462
• − Property taxes: −$1,462
• − Insurance: −$6,012
• − Repairs & maintenance: −$2,706
• − Management: −$2,706
• − Depreciation: −$2,836
• Taxable income: $12,637
• Est. tax owed @ 24.0%: −$3,033
• After-tax cash flow: $10,076/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include exterior siding, flooring, interior walls, and kitchen and bathroom fixtures.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major flooring — Worn carpet
• Major interior walls — Worn wallpaper
• Moderate kitchen cabinets — Old cabinets
• Moderate bathroom fixtures — Old fixtures

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet — New carpet improves comfort and adds value
• Both Upgrade kitchen cabinets — Modern cabinets increase functionality and appeal
• Both Replace bathroom fixtures — New fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Worn wallpaper	Major	$15,000–50,000
kitchen cabinets · Old cabinets	Moderate	$3,000–15,000
bathroom fixtures · Old fixtures	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$51,000–180,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — New carpet improves comfort and adds value ↑
• Both Upgrade kitchen cabinets — Modern cabinets increase functionality and appeal ↑
• Both Replace bathroom fixtures — New fixtures improve functionality and aesthetics ↑

ⓘ 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

1 event — show timeline

• 2026-03-19 Listed $115,000 BRIGHT MLS