25878 American St · Long Neck, DE 19966

$170,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 663 Days on market

Built 2008 $160/sqft · 31% above area Est $156k · 9% over ↓ 15% since listing

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Why this score? — see what drove the C 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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +3.5/15.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

Key facts

• 5 parking spots
• Community pool
• Built 2008

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 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 ($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 $5k 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 $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 663 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 663 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.96%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $156,061
• List price: $170,000
• Delta: 8.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33916 Liberty St #4304	0.37mi	3/2.0	1,000 (-6%)	12mo	$112,500	$113	63
25731 American Ave #4216	0.19mi	3/1.0	979 (-8%)	19mo	$110,000	$112	58

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $5,233
• Equity at exit: $25,348

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $46,857
• Equity at exit: $14,698

Cash invested: $47,600 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 865
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,138 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $514

Break-even live

Break-even rent $1,487

Max offer price $170,000

Occupancy floor 71%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.57mi

Listing history 20 events

1. 2026-06-18
   days on market $170,000 Active 663 DOM
2. 2026-06-17
   days on market $170,000 Active 662 DOM
3. 2026-06-16
   days on market $170,000 Active 661 DOM
4. 2026-06-15
   days on market $170,000 Active 660 DOM
5. 2026-06-14
   days on market $170,000 Active 658 DOM
6. 2026-06-13
   days on market $170,000 Active 657 DOM
7. 2026-06-10
   days on market $170,000 Active 655 DOM
8. 2026-06-09
   days on market $170,000 Active 654 DOM
9. 2026-06-08
   days on market $170,000 Active 653 DOM
10. 2026-06-07
    days on market $170,000 Active 652 DOM
11. 2026-06-02
    days on market $170,000 Active 647 DOM
12. 2026-06-01
    days on market $170,000 Active 646 DOM
13. 2026-05-31
    days on market $170,000 Active 645 DOM
14. 2026-05-30
    days on market $170,000 Active 644 DOM
15. 2026-05-14
    price $170,000 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

16. 2025-08-21
    status Active 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

17. 2025-08-20
    historical 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

18. 2025-08-05
    price $175,000 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

19. 2025-06-20
    price $185,000 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

20. 2024-08-23
    listed $199,900 Active 1866-char remark

    Show marketing remark (1866 chars)

    Welcome home to effortless coastal living in Sun Retreats Rehoboth Bay (Leisure Point)—a gated, amenity-rich community in Long Neck, just 12 miles from the beaches of Rehoboth and Lewes. This impeccably maintained residence is truly “move-in ready, ” offering a bright, functional layout and thoughtful upgrades throughout. Key Features: 3 Bedrooms | 2 Bathrooms – Comfortably sized rooms paired with an inviting full-hall bath and a private primary suite. Open-Concept Main Level – A sunny living room flows into the kitchen, where a breakfast bar and adjacent breakfast nook create the perfect hub for casual meals and conversation. Versatile 216 sq ft Three-Season Room – Finished with Dura Tile flooring and serviced by a portable heat-pump, this space adds nearly year-round living and entertaining flexibility. Well-Planned Storage & Parking – An attached shed (electric service + pull-down attic stairs) keeps gear organized, while the covered carport easily accommodates jet skis or a small boat. Recent Mechanical Upgrades – $6 K high-efficiency A/C system installed in 2023, insulated housing with heat for the exterior water shut-off, sensor floodlights, and exterior outlets on both sides of the home—all enhancing convenience and peace of mind. Community Highlights: Sun Retreats Rehoboth Bay offers everything you need for a true coastal lifestyle: boat ramp, marina with store, private beach, fishing pier, outdoor pool, fitness center, clubhouse, dog park, and more—all behind secure gated entry. Whether you’re seeking a primary residence or the perfect weekend retreat, this pristine home delivers turnkey comfort and unbeatable access to Delaware’s premier resort towns. Schedule your private showing today and start living the beach life you’ve been dreaming of!

ⓘ 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 2/10 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: $25,656
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − Depreciation: −$4,945
• Taxable income: $3,683
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $5,286/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: 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

-15.0% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $170,000 BRIGHT MLS
• 2025-08-21 Relisted — BRIGHT MLS
• 2025-08-20 Listing Removed — BRIGHT MLS
• 2025-08-05 Price Changed $175,000 BRIGHT MLS
• 2025-06-20 Price Changed $185,000 BRIGHT MLS
• 2024-08-23 Listed $199,900 BRIGHT MLS

Property tax history

-7.9%/yr

Latest (2025): $219 · -52.3% YoY. Source: county tax records.