34652 Crows Nest Ln · Long Neck, DE 19966

$59,900

2 bd · 2.0 ba · 924 sqft · Manufactured · 31 Days on market

Built 1987 0.25 ac lot $65/sqft · 31% below area Est $86k · 31% under $2/mo HOA ↓ 25% 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
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE IMPROVEMENT!! Great new listing in Pot-Nets Creekside! Imagine a country setting at the beach! This recently refurbished home is situated on a huge corner home site with plenty of room for your kids and dogs to play! The owner has done a long list of work to the home to prepare for a new family! There is a brand new front door/storm door, freshly painted 30 ft. long front deck, new light and ceiling fan fixtures, newer Stainless appliances, wood laminate flooring, granite Kitchen countertops with maple cabinets and a large Kitchen sink for those big crab pots! The main bedroom has an attached bathroom with a tub/shower unit and the second bedroom is adjacent to the Hall Bath, whic

Key facts

• Brand new front door
• New light fixtures
• 0.25 acre lot

Tags

• HUGE CORNER HOME SITE
• BRAND NEW FRONT DOOR
• FRESHLY PAINTED FRONT DECK
• NEW LIGHT FIXTURES
• NEW CEILING FAN FIXTURES
• NEWER STAINLESS APPLIANCES

Property features AI

Finance

• Other: Pets allowed (cats and dogs OK); 2+ access exits (accessibility feature)
• Financial info: Ground rent (land lease) $966 monthly, paid annually; approximately 4 years remaining; Income/expense note: Annual ground rent
• HOA & community: HOA fee $20 annually; Community pool

Exterior

• Parking: Driveway parking (crushed stone); 5 driveway/total parking spaces
• Utilities: Public sewer; Community water; Electric hot water; Fiber optic and cable internet available
• Home design: Manufactured home; Single-wide (14' x 66'); Main entrance faces southeast; Good condition; Land lease ownership (ground rent exists)
• Construction: Metal siding; Shingle roof; Crawl space foundation; Manufactured structure; Estimated year built
• Exterior features: Corner lot; Front yard; Landscaping; Open lot; Split-rail fence; Shed; Community in-ground pool

Interior

• Kitchen: Built-in microwave; Built-in range; Cooktop; Oven - self-cleaning; Electric oven/range; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate; Wood
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Propane (leased) fuel for heat; Central air conditioning; Ceiling fans
• Interior features: Open floor plan; Master bath; Tub with shower; Ceiling fans; Chair railings; Crown molding; Wainscoting; Window treatments; Paneled walls; Vaulted ceilings; Wood floors; Not furnished
• Laundry & utility: Front-loading washer; Electric dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.6% 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+, 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.
• 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); Indian River High School (math 32% / reading 52%, grade F, #10 of 40 statewide, top 26%, 1,088 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: 870 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($58k) 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 $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.99% ✓
• Cap rate: 27.59%
• Cash-on-cash: 76.08%
• DSCR: 4.38
• GRM: 2.8

CMA / ARV

• ARV (median comp): $86,350
• List price: $59,900
• Delta: -30.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33916 Liberty St #4304	0.69mi	3/2.0 (+1)	1,000 (+8%)	12mo	$112,500	$113	39

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: 40.2%
• Equity multiple: 2.73×
• Total profit: $28,962
• Equity at exit: $8,931

10-year hold

• IRR: 46.6%
• Equity multiple: 5.52×
• Total profit: $75,766
• Equity at exit: $5,179

Cash invested: $16,772 (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 19966

• Home prices YoY: -6.4%
• Active inventory: 870
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$11 /mo · $133/yr
• Insurance: −$25
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$2
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $603

Break-even live

Break-even rent $1,029

Max offer price $59,900

Occupancy floor 61%

Sensitivity live

Price	-10% $637	-5% $620	+0% $603	+5% $586	+10% $569
Rent	-10% $461	-5% $532	+0% $603	+5% $674	+10% $744
Rate	-1.0pp $633	-0.5pp $618	base $603	+0.5pp $587	+1.0pp $572

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: $14,975
• Closing costs: $1,797
• 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	14d	1	0.96mi

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 9 events

1. 2026-06-09
   status $59,900 Pending 31 DOM
2. 2026-06-08
   days on market $59,900 Active 31 DOM
3. 2026-06-07
   days on market $59,900 Active 30 DOM
4. 2026-06-02
   pricedays on market $59,900 Active 25 DOM
5. 2026-06-01
   days on market $69,900 Active 24 DOM
6. 2026-05-31
   days on market $69,900 Active 23 DOM
7. 2026-05-30
   days on market $69,900 Active 22 DOM
8. 2026-05-17
   price $69,900 1424-char remark
9. 2026-05-08
   listed $79,900 Active 1424-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $133 · $11/mo
• Projected year-2 tax: $240 · $20/mo
• Expected delta: +$107/yr (+$9/mo · 81.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $21,500
• − Mortgage interest: −$3,355
• − Property taxes: −$133
• − Insurance: −$5,824
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$24
• − Depreciation: −$1,743
• Taxable income: $6,981
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $5,559/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 — 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

• 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

-25.0% since first listed

4 events — show timeline

• 2026-06-08 Pending — BRIGHT MLS
• 2026-06-02 Price Changed $59,900 BRIGHT MLS
• 2026-05-17 Price Changed $69,900 BRIGHT MLS
• 2026-05-08 Listed $79,900 BRIGHT MLS

Property tax history

-8.9%/yr

Latest (2025): $133 · -56.4% YoY. Source: county tax records.