27011 White House Rd · Long Neck, DE 19966

$99,999

3 bd · 2.0 ba · 896 sqft · SingleFamily · 140 Days on market

Built 2016 Fair condition 896 sqft lot $112/sqft · at area comps Est $97k · at est. $2/mo HOA ↓ 19% 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 +6.1/15.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just moments from the bay in the White House Beach community, this 3‑bedroom, 2‑bath manufactured home offers an affordable opportunity to create your own coastal retreat. The layout provides great potential for anyone ready to bring their vision to life. With beach‑town charm all around and a prime location close to the water, this property is ideal for buyers seeking value, flexibility, and the chance to customize a space to their style. Sale is contingent on park approval.

Key facts

• Built 2016
• Listed 140 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.7% 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; 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $87,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.18% ✓
• Cap rate: 18.69%
• Cash-on-cash: 44.27%
• DSCR: 2.97
• GRM: 3.8

CMA / ARV

• ARV (median comp): $96,951
• List price: $99,999
• Delta: 3.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27412 Grove Circle Rd	0.13mi	3/1.0	910 (+2%)	4mo	$138,500	$152	84
35085 Cedar Ln #47276	0.06mi	3/2.0	924 (+3%)	10mo	$165,000	$179	84
35429 Barque Rd #46144	0.05mi	2/2.0 (-1)	1,008 (+12%)	10mo	$79,900	$79	63
26933 White House Rd #15202	0.14mi	2/1.0 (-1)	809 (-10%)	9mo	$45,000	$56	61
35573 E Harbor Dr #37624	0.30mi	3/2.0	1,000 (+12%)	12mo	$77,500	$78	57
35029 W Harbor Dr #20984	0.08mi	2/1.0 (-1)	980 (+9%)	19mo	$25,000	$26	56
35716 E River Dr Unit A22	0.45mi	3/2.0	1,012 (+13%)	2mo	$340,000	$336	56
34665 Scarp St	0.70mi	3/1.5	980 (+9%)	6mo	$41,500	$42	44

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: 18.1%
• Equity multiple: 1.73×
• Total profit: $20,572
• Equity at exit: $14,910

10-year hold

• IRR: 26.7%
• Equity multiple: 3.36×
• Total profit: $66,148
• Equity at exit: $8,646

Cash invested: $28,000 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,185 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$2
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $572

Break-even live

Break-even rent $1,460

Max offer price $99,999

Occupancy floor 69%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: water

Listing history 25 events

1. 2026-06-18
   days on market $99,999 Active 140 DOM
2. 2026-06-17
   days on market $99,999 Active 139 DOM
3. 2026-06-16
   days on market $99,999 Active 138 DOM
4. 2026-06-15
   days on market $99,999 Active 137 DOM
5. 2026-06-14
   days on market $99,999 Active 135 DOM
6. 2026-06-13
   days on market $99,999 Active 134 DOM
7. 2026-06-10
   days on market $99,999 Active 132 DOM
8. 2026-06-09
   days on market $99,999 Active 131 DOM
9. 2026-06-08
   days on market $99,999 Active 130 DOM
10. 2026-06-07
    days on market $99,999 Active 129 DOM
11. 2026-06-02
    days on market $99,999 Active 124 DOM
12. 2026-06-01
    days on market $99,999 Active 123 DOM
13. 2026-05-31
    days on market $99,999 Active 122 DOM
14. 2026-05-30
    days on market $99,999 Active 121 DOM
15. 2026-04-20
    price $104,999 488-char remark

    Show marketing remark (488 chars)

    Located just moments from the bay in the White House Beach community, this 3‑bedroom, 2‑bath manufactured home offers an affordable opportunity to create your own coastal retreat. The layout provides great potential for anyone ready to bring their vision to life. With beach‑town charm all around and a prime location close to the water, this property is ideal for buyers seeking value, flexibility, and the chance to customize a space to their style. Sale is contingent on park approval.

16. 2026-01-29
    listed $115,900 Active 488-char remark

    Show marketing remark (488 chars)

    Located just moments from the bay in the White House Beach community, this 3‑bedroom, 2‑bath manufactured home offers an affordable opportunity to create your own coastal retreat. The layout provides great potential for anyone ready to bring their vision to life. With beach‑town charm all around and a prime location close to the water, this property is ideal for buyers seeking value, flexibility, and the chance to customize a space to their style. Sale is contingent on park approval.

17. 2026-01-28
    historical $115,900 488-char remark

    Show marketing remark (488 chars)

    Located just moments from the bay in the White House Beach community, this 3‑bedroom, 2‑bath manufactured home offers an affordable opportunity to create your own coastal retreat. The layout provides great potential for anyone ready to bring their vision to life. With beach‑town charm all around and a prime location close to the water, this property is ideal for buyers seeking value, flexibility, and the chance to customize a space to their style. Sale is contingent on park approval.

18. 2025-09-30
    historical
19. 2025-09-15
    price $119,000
20. 2025-08-12
    price $119,900
21. 2025-07-15
    price $119,999
22. 2025-05-20
    price $124,999
23. 2025-05-08
    price $129,900
24. 2025-04-24
    listed $129,999 Active
25. 2025-04-24
    historical

ⓘ 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 7/10 Severe FEMA zone AE · 95% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,217
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$6,025
• − Repairs & maintenance: −$2,097
• − Management: −$2,097
• − HOA: −$24
• − Depreciation: −$2,909
• Taxable income: $5,962
• Est. tax owed @ 24.0%: −$1,431
• After-tax cash flow: $5,438/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 · 7 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to improve its exterior and interior condition, enhancing its resale and rental value.

Repairs flagged

• Major Exterior siding — Significant weathering and discoloration
• Major Bedroom carpet — Worn and in need of replacement
• Minor Interior wall paint — Chipped in some areas

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in bedrooms — New carpet improves comfort and adds value
• Both Update bathroom fixtures — Modern fixtures increase appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant weathering and discoloration	Major	$15,000–50,000
Bedroom carpet · Worn and in need of replacement	Major	$15,000–50,000
Interior wall paint · Chipped in some areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in bedrooms — New carpet improves comfort and adds value ↑
• Both Update bathroom fixtures — Modern fixtures increase appeal and functionality ↑

ⓘ 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

-19.2% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $104,999 BRIGHT MLS
• 2026-01-29 Listed $115,900 BRIGHT MLS
• 2026-01-28 Coming Soon $115,900 BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-09-15 Price Changed $119,000 BRIGHT MLS
• 2025-08-12 Price Changed $119,900 BRIGHT MLS
• 2025-07-15 Price Changed $119,999 BRIGHT MLS
• 2025-05-20 Price Changed $124,999 BRIGHT MLS
• 2025-05-08 Price Changed $129,900 BRIGHT MLS
• 2025-04-24 Listed $129,999 BRIGHT MLS
• 2025-04-24 Coming Soon — BRIGHT MLS