33937 Cornflower Ln #3837 · Lewes, DE 19958

$95,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 20 Days on market

Built 1984

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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
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Marina Community with boat ramp available and crabbing bridge. Large 3 Bd. 2 Bath split floor plan fully furnished Doublewide is great for year round living or week-end retreat. New shingled roof, appliances and heating sytem. Storage shed and more. Monthly lot rent of 4515.00 includes water, sewer, and trash pick-up.

Key facts

• Built 1984
• Listed 20 days

Property features AI

Finance

• Other: Accessibility: 2+ access exits; Above-grade finished area approximately 1,680 sq ft (estimated); Total below-grade area: 0; Ground rent noted as an annual expense; Dock/Slip conveyance available by lease
• Financial info: Monthly land lease payment; Land lease amount and frequency not displayed in this section
• HOA & community: Ground rent exists (annual payment); Land lease

Exterior

• Parking: Driveway
• Utilities: Private/community water source; Gravity septic field and community septic tank; Electric hot water; 150 Amp electric service
• Home design: Manufactured double-wide home; Estimated year built; Entry-level living (main-floor bedrooms and baths)
• Construction: Vinyl siding; Other foundation; Wood-burning fireplace (1)
• Exterior features: Outbuilding(s); Private/community water; Navigable creek access (Love Creek); Water access with private access, boat (powered), PWC and fishing allowed; Multiple-slip dock (5 slips) available by lease; dock/slip conveys

Interior

• Kitchen: Dishwasher; Microwave; Gas range/oven; Refrigerator; Icemaker; Exhaust fan
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet
• Bathrooms: Two full bathrooms on the main level; Two full bathrooms total
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning; 150 Amp electric service with circuit breakers
• Interior features: Carpet; Ceiling fans; Eat-in kitchen; Master bathroom; Window treatments; Storm door
• Laundry & utility: Main-floor laundry; Washer; Dryer (electric); Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 1.7% in Lewes — 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 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; 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 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 + 0.8% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $95k implies a 188% gain — meaningful room to come down on a strong offer.

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 $93,575 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.46% ✓
• Cap rate: 21.30%
• Cash-on-cash: 53.61%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $362,880
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20834 Waterlilly Ln #53828	0.14mi	4/2.0 (+1)	1,568 (-7%)	19mo	$115,000	$73	62
34170 High Knoll Rd	0.38mi	3/2.0	1,850 (+10%)	7mo	$479,000	$259	60
8 Love Creek Dr	0.68mi	3/2.0	1,596 (-5%)	4mo	$345,000	$216	57
34106 Caitlins Cor	0.25mi	3/2.0	1,872 (+11%)	18mo	$553,000	$295	54
40 Love Creek Dr	0.39mi	3/2.0	1,838 (+9%)	17mo	$465,000	$253	52
49 Love Creek Dr	0.52mi	3/2.0	1,893 (+13%)	4mo	$380,000	$201	51
44 Love Creek Dr	0.43mi	3/2.0	1,878 (+12%)	19mo	$350,000	$186	44
33185 Fairfield Rd	0.71mi	4/2.0 (+1)	1,882 (+12%)	1mo	$375,000	$199	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: 24.8%
• Equity multiple: 1.98×
• Total profit: $26,164
• Equity at exit: $14,165

10-year hold

• IRR: 30.7%
• Equity multiple: 3.39×
• Total profit: $63,665
• Equity at exit: $8,214

Cash invested: $26,600 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,335 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $728

Break-even live

Break-even rent $1,414

Max offer price $95,000

Occupancy floor 64%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33707 Skiff Aly #207 Lewes, DE	2.0	2.0	1227	$1,800	$1.47	13d	1	0.21mi
33530 Old Salt Ln #1206 Lewes, DE	2.0	2.0	1313	$2,150	$1.64	44d	1	0.31mi

Listing history 24 events

1. 2026-06-18
   days on market $95,000 Active 20 DOM
2. 2026-06-17
   days on market $95,000 Active 19 DOM
3. 2026-06-16
   days on market $95,000 Active 18 DOM
4. 2026-06-15
   days on market $95,000 Active 17 DOM
5. 2026-06-14
   days on market $95,000 Active 15 DOM
6. 2026-06-13
   days on market $95,000 Active 14 DOM
7. 2026-06-10
   days on market $95,000 Active 12 DOM
8. 2026-06-09
   days on market $95,000 Active 11 DOM
9. 2026-06-08
   days on market $95,000 Active 10 DOM
10. 2026-06-07
    days on market $95,000 Active 9 DOM
11. 2026-06-05
    days on market $95,000 Active 6 DOM
12. 2026-06-03
    days on market $95,000 Active 5 DOM
13. 2026-06-02
    days on market $95,000 Active 4 DOM
14. 2026-06-01
    days on market $95,000 Active 3 DOM
15. 2026-05-31
    days on market $95,000 Active 2 DOM
16. 2026-05-30
    status $95,000 Active 1 DOM
17. 2026-05-29
    historical $95,000
18. 2025-05-13
    historical
19. 2025-04-17
    price $105,000
20. 2025-04-11
    listed $115,000 Active
21. 2025-04-04
    historical
22. 2019-04-05
    soldstatus $33,000 Closed 319-char remark

    Show marketing remark (319 chars)

    Marina Community with boat ramp available and crabbing bridge. Large 3 Bd. 2 Bath split floor plan fully furnished Doublewide is great for year round living or week-end retreat. New shingled roof, appliances and heating sytem. Storage shed and more. Monthly lot rent of 4515.00 includes water, sewer, and trash pick-up.

23. 2019-03-07
    status Pending 319-char remark

    Show marketing remark (319 chars)

    Marina Community with boat ramp available and crabbing bridge. Large 3 Bd. 2 Bath split floor plan fully furnished Doublewide is great for year round living or week-end retreat. New shingled roof, appliances and heating sytem. Storage shed and more. Monthly lot rent of 4515.00 includes water, sewer, and trash pick-up.

24. 2018-11-11
    listed $36,900 Active 319-char remark

    Show marketing remark (319 chars)

    Marina Community with boat ramp available and crabbing bridge. Large 3 Bd. 2 Bath split floor plan fully furnished Doublewide is great for year round living or week-end retreat. New shingled roof, appliances and heating sytem. Storage shed and more. Monthly lot rent of 4515.00 includes water, sewer, and trash pick-up.

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°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: $28,024
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$6,000
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − Depreciation: −$2,764
• Taxable income: $8,030
• Est. tax owed @ 24.0%: −$1,927
• After-tax cash flow: $6,809/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

+157.5% since first listed

8 events — show timeline

• 2026-05-29 Coming Soon $95,000 BRIGHT MLS
• 2025-05-13 Listing Removed — BRIGHT MLS
• 2025-04-17 Price Changed $105,000 BRIGHT MLS
• 2025-04-11 Listed $115,000 BRIGHT MLS
• 2025-04-04 Coming Soon — BRIGHT MLS
• 2019-04-05 Sold (MLS) $33,000 BRIGHT MLS
• 2019-03-07 Pending — BRIGHT MLS
• 2018-11-11 Listed $36,900 BRIGHT MLS