19909 Center Ave · Rehoboth Beach, DE 19971

$259,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 2 Days on market

Built 2022 $2/mo HOA

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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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your pristine beach getaway or low-maintenance full-time residence in the highly sought-after, leased land community of Sea Air Village. This beautiful, turn-key 2022 Clayton double-wide home offers the perfect blend of modern comfort and unbeatable coastal proximity—located just two miles from downtown Rehoboth Beach, the iconic boardwalk, and world-class dining and tax-free shopping. Featuring an airy and spacious 3-bedroom, 2-bathroom layout, this home boasts durable, stylish vinyl flooring throughout the main living areas, making post-beach cleanup an absolute breeze. Energy efficiency is built right in with upgraded insulation, ensuring year-round comfort and lower uti

Key facts

• Two swimming pools
• Coastal proximity
• Upgraded insulation

Tags

• BEACH GETAWAY
• LEASED LAND COMMUNITY
• COASTAL PROXIMITY
• DURABLE VINYL FLOORING
• UPGRADED INSULATION
• TWO SWIMMING POOLS

Property features AI

Finance

• Other: Property manager present
• Financial info: Land lease $853 annually (1 year remaining)
• HOA & community: HOA fee $25 annually; Association recreation fee $35; Community amenities include outdoor pool, swimming pool, basketball courts, playground, and dog park

Exterior

• Parking: Off-street parking for 2 vehicles (total 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Electric hot water; Electric heating and cooling; No municipal trash service
• Home design: Manufactured (double wide); Model: Marlette by Clayton; Built with vinyl siding and asphalt elements; Architectural shingle roof; Land-lease ownership
• Construction: Modular/Manufactured construction; Double wide mobile home (28 ft by 56 ft)
• Exterior features: Community pool; Above-grade and below-grade structures noted; Not in a federal flood zone

Interior

• Kitchen: Built-in microwave; Oven/Range - Electric; Refrigerator; Dishwasher; Garbage disposal; Icemaker; Stainless steel appliances
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Open floor plan; Crown moldings; Recessed lighting; Ceiling fans; Soaking tub; Master bath; Walk-in closet(s); Dining area; Window treatments; Drywall walls and ceilings; Partially furnished
• Laundry & utility: Washer; Dryer - Electric; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 7.6% vs local median 1.1% in Rehoboth Beach — 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 71/100 on livability (#20 in DE) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, employment A+; Watch: crime F, 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: 331 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 31% of the median local income ($102k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

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 $259,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.02% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $145,824
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19728 Princess St #3329	0.40mi	2/2.0 (-1)	1,344 (-14%)	21mo	$125,000	$93	35

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-23,726
• Equity at exit: $38,752

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $3,132
• Equity at exit: $22,471

Cash invested: $72,772 (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 19971

• Active inventory: 331
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,641 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$2
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $288

Break-even live

Break-even rent $2,276

Max offer price $259,900

Occupancy floor 84%

Sensitivity live

Price	-10% $468	-5% $378	+0% $288	+5% $198	+10% $108
Rent	-10% $79	-5% $184	+0% $288	+5% $392	+10% $497
Rate	-1.0pp $419	-0.5pp $354	base $288	+0.5pp $221	+1.0pp $152

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20327 Mallory Ct Rehoboth Beach, DE	4.0	3.0	1920	$2,450	$1.28	44d	1	0.66mi
37264 Sea Coast Ct #13 Rehoboth Beach, DE	3.0	3.5	2100	$2,200	$1.05	21d	1	0.73mi
3500 Sanibel Cir #3516 Rehoboth Beach, DE	2.0	2.0	1150	$2,000	$1.74	21d	1	0.76mi
3300 Sanibel Cir #3301 Rehoboth Beach, DE	3.0	2.0	1395	$2,100	$1.51	44d	1	0.83mi
113 Loganberry Ln Rehoboth Beach, DE	3.0	2.0	1629	$2,900	$1.78	14d	1	0.99mi
32015 Azure Ave Rehoboth Beach, DE	1.0–3.0	1.0–2.0	1054	$2,375	$2.25	44d	1	1.43mi

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 3 events

1. 2026-06-18
   days on market $259,900 Active 2 DOM
2. 2026-06-16
   remarks 693-char remark
3. 2026-06-16
   listed $259,900 Active 1 DOM

ⓘ 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 ≥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: $31,689
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,535
• − Management: −$2,535
• − HOA: −$24
• − Depreciation: −$7,561
• Taxable loss: −$723
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $3,630/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 — Rehoboth Beach

• Score: 71/100
• State rank: #20
• US rank: #6520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• City population: 14,886
• Metro: Salisbury, MD-DE
• Population (ZIP): 14,886
• Household income: $102,146
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 317.0

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% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▼ -220.39%
• Current HPI: 353.3977
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-16 Listed $259,900 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2021): $291 · +0.8% YoY. Source: county tax records.