26452 Cottontail Cv #2965 · Long Neck, DE 19966

$149,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily · 16 Days on market

Built 2002 Good condition $127/sqft · at area comps Est $153k · at est. ↓ 7% 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 +8.8/15.0
• 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

Key facts

• Community pool
• Built 2002
• Listed 15 days

Property features AI

Finance

• Other: Ground rent/land lease remains (1 year remaining); Ground rent amount paid monthly
• Financial info: Land lease (monthly land lease payment exists)
• HOA & community: Community in-ground pool

Exterior

• Parking: Asphalt driveway
• Utilities: Public water; Public sewer; Electric hot water; 100 amp electric service; Propane (leased) for heating
• Home design: Manufactured home (double wide); Level entry to main level; Facing information not provided
• Construction: Vinyl siding; Architectural shingle roof; Pillar/post/pier foundation; Made by HBOS (double wide, 24' x 48')
• Exterior features: Porch(es); Street lights; Split rail fencing; Shed

Interior

• Kitchen: Oven (self-cleaning); Range hood; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Luxury vinyl plank; Carpet
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: 90% efficient forced air heating; Central air conditioning
• Interior features: Combination kitchen and dining area; Eat-in kitchen; Ceiling fan(s); Walk-in closet(s); Paneled walls; Carpeted areas
• Laundry & utility: Washer and dryer on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% 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 44% 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $146,765 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.92% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.29%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (median comp): $153,396
• List price: $149,000
• Delta: -2.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32829 Tern Cv #2803	0.08mi	3/2.0	1,232 (+5%)	1mo	$175,000	$142	87
26532 Outrigger Cv #3012	0.19mi	3/2.0	1,176 (0%)	10mo	$124,000	$105	82
26446 Cottontail Cv	0.01mi	3/2.0	1,344 (+14%)	4mo	$135,000	$100	73
37 Ritter Dr	0.51mi	3/2.0	1,248 (+6%)	5mo	$251,500	$202	61
33291 Arrowood Cv	0.40mi	3/2.0	1,248 (+6%)	12mo	$160,000	$128	61
26435 River Breeze Dr	0.71mi	3/2.0	1,114 (-5%)	1mo	$320,000	$287	58
26567 Wharfside Cv #53212	0.25mi	3/2.0	1,345 (+14%)	11mo	$159,900	$119	55
32834 Tern Cv #50642	0.17mi	3/2.0	1,344 (+14%)	16mo	$145,000	$108	55
25845 Lingo Ln	0.61mi	3/2.0	1,080 (-8%)	6mo	$190,000	$176	53
26484 River Breeze Dr	0.72mi	3/2.0	1,120 (-5%)	9mo	$270,000	$241	51
25877 Lingo Ln #4	0.55mi	2/2.0 (-1)	1,065 (-9%)	11mo	$175,000	$164	44
33385 Court Dr	0.62mi	3/2.0	1,352 (+15%)	6mo	$145,000	$107	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 2.30×
• Total profit: $54,052
• Equity at exit: $22,216

10-year hold

• IRR: 38.1%
• Equity multiple: 4.54×
• Total profit: $147,877
• Equity at exit: $12,883

Cash invested: $41,720 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,857 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $1,227

Break-even live

Break-even rent $1,303

Max offer price $149,000

Occupancy floor 52%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22392 Circle Rd , DE	2.0	1.0	1000	$1,523	$1.52	13d	1	1.24mi
34011 Harvard Ave Millsboro, DE	1.0–3.0	1.0–2.0	1048	$4,516	$4.31	13d	1	1.31mi

Listing history 5 events

1. 2026-05-18
   price $149,000 1404-char remark
2. 2026-05-10
   listed $156,000 Active 1404-char remark
3. 2026-05-08
   historical $156,000 1404-char remark
4. 2026-01-12
   historical
5. 2025-12-01
   listed $160,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% 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: $34,280
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$2,742
• − Management: −$2,742
• − Depreciation: −$4,335
• Taxable income: $13,134
• Est. tax owed @ 24.0%: −$3,152
• After-tax cash flow: $11,573/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 charming 3-bedroom home is in good condition with recent updates, making it a great investment opportunity.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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

• Census place: Long Neck, DE
• 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

-6.9% since first listed

6 events — show timeline

• 2026-05-26 Listing Removed — BRIGHT MLS
• 2026-05-18 Price Changed $149,000 BRIGHT MLS
• 2026-05-10 Listed $156,000 BRIGHT MLS
• 2026-05-08 Coming Soon — BRIGHT MLS
• 2026-01-12 Listing Removed — BRIGHT MLS
• 2025-12-01 Listed $160,000 BRIGHT MLS