HD-60JCUSTOM Plan · Long Neck, DE 19966

$145,900

3 bd · 2.0 ba · 1,680 sqft · Manufactured · 950 Days on market

Good condition ↓ 12% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

Key facts

• Listed 950 days

🏗️ New construction. The $145,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $64,311.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $146k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.6% 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; 2 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 37% 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 $445 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 950 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 950 days. Have you received any prior offers? Is the seller open to a 12% 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 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: 3.76% ✓
• Cap rate: 33.60%
• Cash-on-cash: 97.53%
• DSCR: 5.34
• GRM: 2.2

CMA / ARV

• ARV (median comp): $64,311
• List price: $145,900
• Delta: 126.86%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25869 N Pine St	0.73mi	4/2.0 (+1)	1,568 (-7%)	1mo	$145,500	$93	49
34651 Deck St	0.68mi	3/1.5	1,476 (-12%)	7mo	$40,000	$27	40

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: 66.3%
• Equity multiple: 3.99×
• Total profit: $53,789
• Equity at exit: $9,589

10-year hold

• IRR: 70.6%
• Equity multiple: 8.24×
• Total profit: $130,406
• Equity at exit: $5,560

Cash invested: $18,007 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,415 medium
• Mortgage (P&I): −$337
• Tax est. 1.5%: −$80 /mo · $965/yr
• Insurance: −$27
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $1,003

Break-even live

Break-even rent $1,145

Max offer price $64,311

Occupancy floor 53%

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: $16,078
• Closing costs: $1,929
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.20mi
35805 S Gloucester Cir Millsboro, DE	3.0	2.5	2100	$2,300	$1.10	43d	1	0.24mi

Listing history 19 events

1. 2026-06-18
   days on market $145,900 Active 950 DOM
2. 2026-06-17
   days on market $145,900 Active 949 DOM
3. 2026-06-16
   days on market $145,900 Active 948 DOM
4. 2026-06-15
   days on market $145,900 Active 947 DOM
5. 2026-06-14
   days on market $145,900 Active 945 DOM
6. 2026-06-13
   days on market $145,900 Active 944 DOM
7. 2026-06-10
   days on market $145,900 Active 942 DOM
8. 2026-06-09
   days on market $145,900 Active 941 DOM
9. 2026-06-08
   days on market $145,900 Active 940 DOM
10. 2026-06-07
    days on market $145,900 Active 939 DOM
11. 2026-06-02
    days on market $145,900 Active 934 DOM
12. 2026-06-01
    days on market $145,900 Active 933 DOM
13. 2026-05-31
    days on market $145,900 Active 932 DOM
14. 2026-05-30
    days on market $145,900 Active 931 DOM
15. 2024-01-26
    price $145,900 389-char remark

    Show marketing remark (389 chars)

    There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

16. 2023-11-21
    status Active 389-char remark

    Show marketing remark (389 chars)

    There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

17. 2023-11-21
    price $159,900 389-char remark

    Show marketing remark (389 chars)

    There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

18. 2023-11-18
    historical 389-char remark

    Show marketing remark (389 chars)

    There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

19. 2023-11-08
    listed $165,900 Active 389-char remark

    Show marketing remark (389 chars)

    There's no place like home, and you should make your home in Sweetbriar, a well-maintained, professionally-managed manufactured home community. Right now, you can buy a Brand New 2023 model year, 1680.00 sq. ft. 3 bed/2 bath home. This home sits on a perimeter lot for extra privacy, features a beautiful kitchen with an island! Contact Sweetbriar today to schedule a viewing of this home!

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥100°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: $28,982
• − Mortgage interest: −$3,602
• − Property taxes: −$965
• − Insurance: −$5,847
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$1,871
• Taxable income: $12,061
• Est. tax owed @ 24.0%: −$2,895
• After-tax cash flow: $9,143/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 modern appliances and neutral paint. It has a good curb appeal and is ready for a fresh coat of paint and some minor updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a home more appealing and increase its value
• Both Replace curtains — Fresh curtains can enhance the home's curb appeal and make it more inviting
• Both Install new flooring in bedrooms — New flooring can improve the home's appearance and increase its value
• Both Add decorative lighting fixtures — Decorative lighting can enhance the home's ambiance and make it more appealing

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a home more appealing and increase its value ↑
• Both Replace curtains — Fresh curtains can enhance the home's curb appeal and make it more inviting ↑
• Both Install new flooring in bedrooms — New flooring can improve the home's appearance and increase its value ↑
• Both Add decorative lighting fixtures — Decorative lighting can enhance the home's ambiance and make it more appealing ↑

ⓘ 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: 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

-12.1% since first listed

5 events — show timeline

• 2024-01-26 Price Changed $145,900 Zillow
• 2023-11-21 Relisted — Zillow
• 2023-11-21 Price Changed $159,900 Zillow
• 2023-11-18 Delisted — Zillow
• 2023-11-08 Listed $165,900 Zillow