35390 Teal Rd #314 · Long Neck, DE 19966

$124,900

3 bd · 2.0 ba · 744 sqft · SingleFamily · 146 Days on market

Built 2017 Good condition 332 ac lot $168/sqft · 38% above area Est $91k · 38% over $25/mo HOA · 1% of rent ↓ 17% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

Key facts

• 332.36 acre lot
• 2 parking spots
• Built 2017

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 32% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($110k) 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 $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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.
8. 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.
9. 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: 1.69% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.91%
• DSCR: 2.20
• GRM: 4.9

CMA / ARV

• ARV (median comp): $90,566
• List price: $124,900
• Delta: 37.91%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26933 White House Rd #15202	0.09mi	2/1.0 (-1)	809 (+9%)	9mo	$45,000	$56	65
35469 Joann Dr	0.64mi	2/1.0 (-1)	840 (+13%)	2mo	$30,500	$36	38

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $712
• Equity at exit: $18,623

10-year hold

• IRR: 10.4%
• Equity multiple: 1.82×
• Total profit: $28,514
• Equity at exit: $10,799

Cash invested: $34,972 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,117 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$25
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $324

Break-even live

Break-even rent $1,707

Max offer price $124,900

Occupancy floor 80%

Sensitivity live

Price	-10% $410	-5% $367	+0% $324	+5% $281	+10% $237
Rent	-10% $157	-5% $240	+0% $324	+5% $407	+10% $491
Rate	-1.0pp $387	-0.5pp $356	base $324	+0.5pp $291	+1.0pp $258

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: water

Listing history 13 events

1. 2026-06-10
   days on market $124,900 Active 146 DOM
2. 2026-06-09
   days on market $124,900 Active 145 DOM
3. 2026-06-08
   days on market $124,900 Active 144 DOM
4. 2026-06-07
   days on market $124,900 Active 143 DOM
5. 2026-06-02
   days on market $124,900 Active 138 DOM
6. 2026-06-01
   days on market $124,900 Active 137 DOM
7. 2026-05-31
   days on market $124,900 Active 136 DOM
8. 2026-05-30
   days on market $124,900 Active 135 DOM
9. 2026-05-20
   price $124,900 1248-char remark

   Show marketing remark (1248 chars)

   PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

10. 2026-04-28
    price $134,900 1248-char remark

    Show marketing remark (1248 chars)

    PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

11. 2026-03-24
    price $144,900 1248-char remark

    Show marketing remark (1248 chars)

    PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

12. 2026-01-16
    listed $149,900 Active 1248-char remark

    Show marketing remark (1248 chars)

    PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

13. 2026-01-13
    historical $149,900 1248-char remark

    Show marketing remark (1248 chars)

    PRICE REDUCTION JUST IN TIME FOR MEMORIAL DAY! Welcome to your new coastal getaway in the friendly White House Beach community! Less than 10 years old, this cozy 3-bedroom, 2-bathroom home has everything you need for easygoing seaside living. Step inside and feel right at home in this warm and welcoming space, designed with both lively family gatherings and cozy, quiet nights in mind. Picture yourself starting the day with a cup of coffee in the screened-in porch, or unwinding after a beach day with those you love most. The fenced-in yard offers plenty of room for kids to run freely and pets to explore, all while you relax and take in the peaceful atmosphere. Location is everything, and this home delivers. Nestled on a prime lot, you'll enjoy private beach access just steps away. Boating enthusiasts will love the convenience of the community boat ramp, making it easy to launch into days of adventure on the water. Plus, with a secure neighborhood atmosphere, you’ll feel at ease whether you’re here full-time or enjoying a weekend escape. This home is more than a beach house- it’s your family’s gateway to cherished memories. Don’t let this opportunity pass; schedule your visit and make it yours today!

ⓘ 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: $25,403
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$6,150
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − HOA: −$300
• − Depreciation: −$3,633
• Taxable income: $2,385
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $3,313/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 80/100 Cosmetic rehab

This well-maintained, 3-bedroom home in White House Beach offers a cozy coastal getaway with modern amenities and a good condition score.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Resale Replace carpet in living areas — Fresh carpet improves comfort and value
• Rental Clean and maintain HVAC units — Ensures comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Resale Replace carpet in living areas — Fresh carpet improves comfort and value ↑
• Rental Clean and maintain HVAC units — Ensures comfort and reduces maintenance costs ↑

ⓘ 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

-16.7% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $124,900 BRIGHT MLS
• 2026-04-28 Price Changed $134,900 BRIGHT MLS
• 2026-03-24 Price Changed $144,900 BRIGHT MLS
• 2026-01-16 Listed $149,900 BRIGHT MLS
• 2026-01-13 Coming Soon $149,900 BRIGHT MLS