TBB Hornbeam Dr Unit LATITUDE · Millville, DE 19945

$489,990

3 bd · 2.0 ba · 1,783 sqft · SingleFamily · 162 Days on market

Built 2026 8,100 sqft lot $275/sqft · 12% below area Est $559k · 12% under $335/mo HOA · 12% of rent ↓ 2% since listing

---

Why this score? — see what drove the D- 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).

• ARV discount +13.1/15.0
• Appreciation +10.0/10.0
• Cash flow +3.4/30.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0

Listing remarks MLS

* OFFERING UP TO 15K IN CLOSING ASSISTANCE WITH USE OF APPROVED LENDER AND TITLE. * The Latitude home design offers the perfect blend of comfort, style, and flexibility, with thoughtfully designed spaces ideal for a variety of lifestyles. Ranging from 1,783 to 2,356 square feet, this versatile plan includes 3 to 4 bedrooms, 2 to 3 full bathrooms, and an attached 2- to 3-car garage, providing ample space for both everyday living and future growth. At the heart of the home, an open concept layout seamlessly connects the family room, kitchen, and dining area, creating a spacious and welcoming environment that's perfect for entertaining or relaxing with loved ones. The main level primary suite is a private retreat featuring a luxurious bathroom and walk-in closet, offering both comfort and convenience. Two additional secondary bedrooms and a full bathroom are also located on the main level, ideal for guests, children, or a home office setup. Looking for more space? Personalize your Latitude home with an optional second-level bonus room—or expand even further with a fourth bedroom, full bathroom, and bonus room on the upper level, perfect for a private guest suite, teen hangout, or hobby space. Enhance your outdoor living experience with the option to add a rear screened porch complete with a cozy outdoor fireplace, making it easy to enjoy the outdoors in comfort and style. With multiple layout options and thoughtful design throughout, the Latitude home is built to fit the way you live. * * Photos may not be of actual home. Photos may be of similar home/floorplan if home is under construction or if this is a base price listing.

Key facts

• Outdoor fireplace
• Walk-in closet
• Rear screened porch

Tags

• OPEN CONCEPT LAYOUT
• MAIN LEVEL PRIMARY SUITE
• WALK-IN CLOSET
• REAR SCREENED PORCH
• OUTDOOR FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $490k.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (44.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (42.9% below list).
• Recommended offer: $272k (44.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 64/100 on livability (#49 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: schools F, amenities F, commute 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: 281 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($431k) 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: 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 $271,605 (44.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.57% ✗
• Cap rate: 2.60%
• Cash-on-cash: -13.20%
• DSCR: 0.41
• GRM: 14.6

CMA / ARV

• ARV (median comp): $558,933
• List price: $489,990
• Delta: -12.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32041 Carlisle Ct	0.19mi	3/2.0	1,783 (0%)	21mo	$539,990	$303	74
36262 Windsor Park Dr	0.13mi	3/2.0	2,012 (+13%)	8mo	$515,000	$256	66
32019 Logan Ct	0.36mi	3/2.0	1,762 (-1%)	21mo	$462,500	$262	64
36159 Windsor Park Dr	0.34mi	3/2.0	1,629 (-9%)	21mo	$499,990	$307	52
36170 Watch Hill Rd	0.68mi	3/2.0	1,712 (-4%)	14mo	$492,000	$287	50
33339 Curran Ct	0.32mi	4/2.0 (+1)	2,011 (+13%)	15mo	$503,000	$250	46
31814 Shad Creek Way	0.66mi	3/3.0	1,942 (+9%)	19mo	$475,000	$245	35
31830 Shad Creek Way	0.67mi	3/3.0	1,935 (+8%)	22mo	$499,990	$258	32
31822 Shad Creek Way	0.66mi	3/2.0	1,570 (-12%)	22mo	$499,990	$318	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.25×
• Total profit: $170,987
• Equity at exit: $441,422

10-year hold

• IRR: 14.8%
• Equity multiple: 5.22×
• Total profit: $579,613
• Equity at exit: $951,943

Cash invested: $137,197 (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 19945

• Home prices YoY: 16.9%
• Active inventory: 281
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$335
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-1,509

Break-even live

Break-even rent $4,710

Max offer price $271,605

Occupancy floor —

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: $122,498
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35059 Dundee St Frankford, DE	4.0	2.5	2565	$2,800	$1.09	20d	1	0.71mi

HOA detail

• Monthly dues: $335 · $4,020/yr

Listing history 18 events

1. 2026-06-18
   days on market $489,990 Active 162 DOM
2. 2026-06-17
   days on market $489,990 Active 161 DOM
3. 2026-06-16
   days on market $489,990 Active 160 DOM
4. 2026-06-15
   days on market $489,990 Active 159 DOM
5. 2026-06-14
   days on market $489,990 Active 157 DOM
6. 2026-06-13
   days on market $489,990 Active 156 DOM
7. 2026-06-10
   days on market $489,990 Active 154 DOM
8. 2026-06-09
   days on market $489,990 Active 153 DOM
9. 2026-06-08
   days on market $489,990 Active 152 DOM
10. 2026-06-07
    days on market $489,990 Active 151 DOM
11. 2026-06-02
    days on market $489,990 Active 146 DOM
12. 2026-06-01
    days on market $489,990 Active 145 DOM
13. 2026-05-31
    days on market $489,990 Active 144 DOM
14. 2026-05-30
    days on market $489,990 Active 143 DOM
15. 2026-04-16
    price $489,990 1658-char remark

    Show marketing remark (1658 chars)

    * OFFERING UP TO 15K IN CLOSING ASSISTANCE WITH USE OF APPROVED LENDER AND TITLE. * The Latitude home design offers the perfect blend of comfort, style, and flexibility, with thoughtfully designed spaces ideal for a variety of lifestyles. Ranging from 1,783 to 2,356 square feet, this versatile plan includes 3 to 4 bedrooms, 2 to 3 full bathrooms, and an attached 2- to 3-car garage, providing ample space for both everyday living and future growth. At the heart of the home, an open concept layout seamlessly connects the family room, kitchen, and dining area, creating a spacious and welcoming environment that's perfect for entertaining or relaxing with loved ones. The main level primary suite is a private retreat featuring a luxurious bathroom and walk-in closet, offering both comfort and convenience. Two additional secondary bedrooms and a full bathroom are also located on the main level, ideal for guests, children, or a home office setup. Looking for more space? Personalize your Latitude home with an optional second-level bonus room—or expand even further with a fourth bedroom, full bathroom, and bonus room on the upper level, perfect for a private guest suite, teen hangout, or hobby space. Enhance your outdoor living experience with the option to add a rear screened porch complete with a cozy outdoor fireplace, making it easy to enjoy the outdoors in comfort and style. With multiple layout options and thoughtful design throughout, the Latitude home is built to fit the way you live. * * Photos may not be of actual home. Photos may be of similar home/floorplan if home is under construction or if this is a base price listing.

16. 2026-01-07
    listed $499,990 Active 1658-char remark

    Show marketing remark (1658 chars)

    * OFFERING UP TO 15K IN CLOSING ASSISTANCE WITH USE OF APPROVED LENDER AND TITLE. * The Latitude home design offers the perfect blend of comfort, style, and flexibility, with thoughtfully designed spaces ideal for a variety of lifestyles. Ranging from 1,783 to 2,356 square feet, this versatile plan includes 3 to 4 bedrooms, 2 to 3 full bathrooms, and an attached 2- to 3-car garage, providing ample space for both everyday living and future growth. At the heart of the home, an open concept layout seamlessly connects the family room, kitchen, and dining area, creating a spacious and welcoming environment that's perfect for entertaining or relaxing with loved ones. The main level primary suite is a private retreat featuring a luxurious bathroom and walk-in closet, offering both comfort and convenience. Two additional secondary bedrooms and a full bathroom are also located on the main level, ideal for guests, children, or a home office setup. Looking for more space? Personalize your Latitude home with an optional second-level bonus room—or expand even further with a fourth bedroom, full bathroom, and bonus room on the upper level, perfect for a private guest suite, teen hangout, or hobby space. Enhance your outdoor living experience with the option to add a rear screened porch complete with a cozy outdoor fireplace, making it easy to enjoy the outdoors in comfort and style. With multiple layout options and thoughtful design throughout, the Latitude home is built to fit the way you live. * * Photos may not be of actual home. Photos may be of similar home/floorplan if home is under construction or if this is a base price listing.

17. 2025-12-31
    historical
18. 2025-06-24
    listed $499,990 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,600
• − Mortgage interest: −$27,447
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$4,020
• − Depreciation: −$14,254
• Taxable loss: −$27,297
• Est. tax savings @ 24.0%: +$6,551
• After-tax cash flow: $-11,559/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 — Millville

• Score: 64/100
• State rank: #49
• US rank: #13839

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A Housing A Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,093
• Population (ZIP): 8,917

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 (77%)
• Race & ethnicity: White 77% Black 12% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 46.51%
• Current HPI: 322.2407
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.0% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $489,990 BRIGHT MLS
• 2026-01-07 Listed $499,990 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-06-24 Listed $499,990 BRIGHT MLS