34283 Harbor Dr N #1435 · Millsboro, DE 19966

$95,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily · 106 Days on market

Built 1988 Good condition $94/sqft · 19% below area Est $117k · 19% under ↓ 9% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover easy coastal living in this charming 3-bedroom, 2-bath home offering approximately 1,008 square feet of living space, perfectly situated on a spacious lot in the desirable Pot-Nets Creekside community. A fenced portion of the yard provides the ideal space for the doggie of the family, while the generously sized lot offers room to relax, garden, or enjoy the outdoors. Creekside residents enjoy a community pool, playground, fishing and crabbing pier, boat launch ramp, and a scenic nature preserve with walking trails. Pot-Nets Bayside is just across the street, providing easy golf-car access to private bay beaches, Paradise Grill, and two additional pools, giving you even more ways to enjoy the coastal lifestyle. A wonderful opportunity to enjoy life near the water with access to outstanding amenities and the relaxed pace that makes Pot-Nets such a special place to call home.

Key facts

• Fishing pier
• Fenced yard
• Community pool

Tags

• FENCED YARD
• COMMUNITY POOL
• PLAYGROUND
• FISHING PIER
• CRABBING PIER
• BOAT LAUNCH RAMP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 3.4% in Millsboro — 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 66/100 on livability (#44 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, cost of living B+; Watch: crime D-, amenities D-, 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.
• Zoned schools: Long Neck Elementary School (math 22% / reading 35%, grade F, #57 of 105 statewide, top 55%, 693 students, 0% FRL); Millsboro Middle School (math 24% / reading 42%, grade F, #14 of 36 statewide, top 37%, 771 students, 0% FRL); Sussex Central High School (math 23% / reading 42%, grade F, #24 of 40 statewide, top 59%, 2,039 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 999 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 $657 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 2.27% ✓
• Cap rate: 19.55%
• Cash-on-cash: 47.35%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (median comp): $116,965
• List price: $95,000
• Delta: -14.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25684 Crab Aly E #1087	0.43mi	3/2.0	1,008 (0%)	1mo	$132,000	$131	79
34396 High Tide Dr S #21326	0.13mi	2/2.0 (-1)	924 (-8%)	4mo	$63,000	$68	72
25307 Crab Aly W #1492	0.16mi	2/2.0 (-1)	924 (-8%)	8mo	$116,000	$126	67
25572 Crab Aly W #22959	0.18mi	3/1.5	966 (-4%)	22mo	$44,000	$46	64
34652 Crows Nest Ln	0.38mi	2/2.0 (-1)	924 (-8%)	0mo	$56,000	$61	63
34066 Taylor Dr S #1008	0.41mi	3/1.0	1,080 (+7%)	4mo	$140,000	$130	62
25920 Atlas St #53011	0.59mi	3/2.0	1,088 (+8%)	6mo	$85,000	$78	54
25754 Blue Ridge St	0.47mi	3/2.0	1,152 (+14%)	5mo	$124,500	$108	50
25746 American Ave #56406	0.51mi	2/1.5 (-1)	946 (-6%)	14mo	$145,000	$153	47
26008 Loop Dr	0.60mi	2/2.0 (-1)	980 (-3%)	18mo	$64,900	$66	47
34096 Sandcastle Dr S	0.37mi	3/2.0	1,150 (+14%)	18mo	$45,000	$39	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: 20.6%
• Equity multiple: 1.84×
• Total profit: $22,448
• Equity at exit: $14,165

10-year hold

• IRR: 29.0%
• Equity multiple: 3.60×
• Total profit: $69,151
• Equity at exit: $8,214

Cash invested: $26,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 5 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $97,000 ($102/sqft)
• Median days on market: 91 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +13.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 19966

• Home prices YoY: -6.4%
• Active inventory: 999
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,160 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $589

Break-even live

Break-even rent $1,414

Max offer price $95,000

Occupancy floor 68%

Sensitivity live

Price	-10% $655	-5% $622	+0% $589	+5% $556	+10% $524
Rent	-10% $419	-5% $504	+0% $589	+5% $675	+10% $760
Rate	-1.0pp $637	-0.5pp $613	base $589	+0.5pp $565	+1.0pp $540

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: $23,750
• Closing costs: $2,850
• Club membership (one-time): —
• 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	62d	1	0.59mi

Listing history 35 events

1. 2026-08-08
   days on market $95,000 Active 106 DOM
2. 2026-08-07
   days on market $95,000 Active 105 DOM
3. 2026-08-06
   days on market $95,000 Active 104 DOM
4. 2026-08-05
   pricedays on market $95,000 Active 103 DOM
5. 2026-08-04
   days on market $99,999 Active 102 DOM
6. 2026-08-03
   days on market $99,999 Active 101 DOM
7. 2026-07-31
   days on market $99,999 Active 98 DOM
8. 2026-07-29
   days on market $99,999 Active 96 DOM
9. 2026-07-27
   days on market $99,999 Active 94 DOM
10. 2026-07-25
    days on market $99,999 Active 92 DOM
11. 2026-07-24
    days on market $99,999 Active 91 DOM
12. 2026-07-23
    days on market $99,999 Active 90 DOM
13. 2026-07-22
    days on market $99,999 Active 89 DOM
14. 2026-07-21
    days on market $99,999 Active 88 DOM
15. 2026-07-18
    days on market $99,999 Active 85 DOM
16. 2026-07-16
    days on market $99,999 Active 83 DOM
17. 2026-07-16
    days on market $99,999 Active 82 DOM
18. 2026-07-13
    days on market $99,999 Active 80 DOM
19. 2026-07-12
    days on market $99,999 Active 79 DOM
20. 2026-07-11
    days on market $99,999 Active 78 DOM
21. 2026-07-10
    days on market $99,999 Active 77 DOM
22. 2026-07-09
    days on market $99,999 Active 76 DOM
23. 2026-07-08
    days on market $99,999 Active 75 DOM
24. 2026-07-07
    days on market $99,999 Active 74 DOM
25. 2026-07-06
    days on market $99,999 Active 73 DOM
26. 2026-07-05
    days on market $99,999 Active 72 DOM
27. 2026-07-04
    days on market $99,999 Active 71 DOM
28. 2026-07-03
    status $99,999 Active 70 DOM
29. 2026-06-07
    statusdays on market $99,999 Active Under Contract 70 DOM
30. 2026-06-02
    days on market $99,999 Active 66 DOM
31. 2026-06-01
    days on market $99,999 Active 65 DOM
32. 2026-05-31
    days on market $99,999 Active 64 DOM
33. 2026-05-30
    days on market $99,999 Active 63 DOM
34. 2026-05-16
    price $99,999 894-char remark

    Show marketing remark (894 chars)

    Discover easy coastal living in this charming 3-bedroom, 2-bath home offering approximately 1,008 square feet of living space, perfectly situated on a spacious lot in the desirable Pot-Nets Creekside community. A fenced portion of the yard provides the ideal space for the doggie of the family, while the generously sized lot offers room to relax, garden, or enjoy the outdoors. Creekside residents enjoy a community pool, playground, fishing and crabbing pier, boat launch ramp, and a scenic nature preserve with walking trails. Pot-Nets Bayside is just across the street, providing easy golf-car access to private bay beaches, Paradise Grill, and two additional pools, giving you even more ways to enjoy the coastal lifestyle. A wonderful opportunity to enjoy life near the water with access to outstanding amenities and the relaxed pace that makes Pot-Nets such a special place to call home.

35. 2026-03-28
    listed $110,000 Active 894-char remark

    Show marketing remark (894 chars)

    Discover easy coastal living in this charming 3-bedroom, 2-bath home offering approximately 1,008 square feet of living space, perfectly situated on a spacious lot in the desirable Pot-Nets Creekside community. A fenced portion of the yard provides the ideal space for the doggie of the family, while the generously sized lot offers room to relax, garden, or enjoy the outdoors. Creekside residents enjoy a community pool, playground, fishing and crabbing pier, boat launch ramp, and a scenic nature preserve with walking trails. Pot-Nets Bayside is just across the street, providing easy golf-car access to private bay beaches, Paradise Grill, and two additional pools, giving you even more ways to enjoy the coastal lifestyle. A wonderful opportunity to enjoy life near the water with access to outstanding amenities and the relaxed pace that makes Pot-Nets such a special place to call home.

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $25,916
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$6,000
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$2,764
• Taxable income: $6,259
• Est. tax owed @ 24.0%: −$1,502
• After-tax cash flow: $5,568/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 · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $5,040–$15,120 screening

This charming 3-bedroom, 2-bath home in the Pot-Nets Creekside community is in good condition with minimal repairs needed. It offers a spacious lot and easy coastal living, making it a great investment opportunity.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Resale Replace worn-out windows — New windows can improve energy efficiency and property value. ↑
• Rental Upgrade HVAC system — A more efficient HVAC system can attract renters and improve property value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Long Neck Elementary School F DE #57/105 Nat'l #28,012/41,679 Middle Millsboro Middle School F DE #14/36 Nat'l #8,059/14,009 High Sussex Central High School F DE #24/40 Nat'l #10,333/17,239

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

C Composite livability gradescore 66/100

Livability — Millsboro

• Score: 66/100
• State rank: #44
• US rank: #12135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 248,853 people
• City population: 35,884
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 5% of renters

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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%

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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%

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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

-9.1% since first listed

2 events — show timeline

• 2026-05-16 Price Changed $99,999 BRIGHT MLS
• 2026-03-28 Listed $110,000 BRIGHT MLS