17282 Ridge Line Dr · Lewes, DE 19958

$149,900

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 144 Days on market

Built 2002 $103/sqft · 14% above area Est $132k · 14% over ↓ 12% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

Key facts

• Community pool
• Screened in patio
• 2 parking spots

Tags

• SCREENED IN PATIO
• COMMUNITY POOL
• COMMUNITY LAUNCH POINT
• CLOSE PROXIMITY TO BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

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 ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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).
• This rent runs 32% of the median local income ($97k/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 + 0.8% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; 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

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 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?
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: 1.72% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.67%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $132,005
• List price: $149,900
• Delta: 13.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29865 Vincent Ave	0.22mi	2/2.0 (-1)	1,250 (-14%)	10mo	$150,000	$120	53

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: 20.4%
• Equity multiple: 1.81×
• Total profit: $33,959
• Equity at exit: $22,351

10-year hold

• IRR: 27.1%
• Equity multiple: 3.14×
• Total profit: $89,750
• Equity at exit: $12,961

Cash invested: $41,972 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,581 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $1,003

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 56%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16832 Ole Grist Run Milton, DE	3.0	2.0	1375	$2,300	$1.67	43d	1	0.48mi
16894 Beulah Blvd Milton, DE	3.0	2.0	1875	$2,695	$1.44	21d	3	0.76mi

Listing history 21 events

1. 2026-06-18
   days on market $149,900 Active 144 DOM
2. 2026-06-17
   days on market $149,900 Active 143 DOM
3. 2026-06-16
   days on market $149,900 Active 142 DOM
4. 2026-06-15
   days on market $149,900 Active 141 DOM
5. 2026-06-14
   days on market $149,900 Active 139 DOM
6. 2026-06-13
   days on market $149,900 Active 138 DOM
7. 2026-06-10
   days on market $149,900 Active 136 DOM
8. 2026-06-09
   days on market $149,900 Active 135 DOM
9. 2026-06-08
   days on market $149,900 Active 134 DOM
10. 2026-06-07
    days on market $149,900 Active 133 DOM
11. 2026-06-05
    days on market $149,900 Active 130 DOM
12. 2026-06-03
    days on market $149,900 Active 129 DOM
13. 2026-06-02
    days on market $149,900 Active 128 DOM
14. 2026-06-01
    days on market $149,900 Active 127 DOM
15. 2026-05-31
    days on market $149,900 Active 126 DOM
16. 2026-05-30
    days on market $149,900 Active 125 DOM
17. 2026-04-15
    price $149,900 1240-char remark

    Show marketing remark (1240 chars)

    Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

18. 2026-04-14
    status Active 1240-char remark

    Show marketing remark (1240 chars)

    Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

19. 2026-04-02
    historical Active Under Contract 1240-char remark

    Show marketing remark (1240 chars)

    Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

20. 2026-03-31
    price $164,900 1240-char remark

    Show marketing remark (1240 chars)

    Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

21. 2026-01-12
    listed $169,900 Active 1240-char remark

    Show marketing remark (1240 chars)

    Nestled in the adorable community of Sweetbriar in Lewes, Delaware, this beautifully renovated home offers easy, stylish living on a generous sized lot. Featuring three spacious bedrooms and two full baths, this large double-wide has been thoughtfully updated from top to bottom, giving it a fresh, move-in-ready feel. And whats not to love about the screened in patio that runs the legnth of the home's front! Enjoy the easy breezy relaxation night or day! Recent upgrades include newer appliances including refrigerator, stove, dishwasher, and microwave, updated, gorgeous, luxury vinyl flooring, and fresh paint throughout. The open floor plan creates a bright and welcoming atmosphere, perfect for everyday living and entertaining alike. The Luxury vinyl flooring flows seamlessly through the living room, dining area, and hallway, adding both durability and modern appeal. In addition you can relax in the community pool on those hot days or launch you small watercraft at the community launch point. Set in a peaceful community with close proximity to the beaches and resort dining and entertainment, this Sweetbriar home is the perfect blend of comfort, quality, and convenience—ready for you to move in and make it your own.

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 17 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: $30,969
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,478
• − Management: −$2,478
• − Depreciation: −$4,361
• Taxable income: $10,259
• Est. tax owed @ 24.0%: −$2,462
• After-tax cash flow: $9,573/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.

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

-11.8% since first listed

5 events — show timeline

• 2026-04-15 Price Changed $149,900 BRIGHT MLS
• 2026-04-14 Relisted — BRIGHT MLS
• 2026-04-02 Contingent — BRIGHT MLS
• 2026-03-31 Price Changed $164,900 BRIGHT MLS
• 2026-01-12 Listed $169,900 BRIGHT MLS

Property tax history

-5.4%/yr

Latest (2025): $284 · -45.2% YoY. Source: county tax records.