The Surfside - Build On-Your-Lot Plan · Millville, DE 19967

$318,800

3 bd · 2.5 ba · 1,614 sqft · SingleFamily · 164 Days on market

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +4.6/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

The Surfside by Bay to Beach Builders is a charming, space-efficient two-story home offering 1,614 heated sq. ft. , 3 bedrooms, and 2.5 baths. Designed for narrow lots and coastal infill locations like Lewes, Ocean View, and Bethany Beach, it blends timeless coastal appeal with smart modern living. Inside, an open-concept first floor emphasizes flow and flexibility. The foyer leads to a well-appointed kitchen with an island and walk-in pantry, opening directly to the dining area and great room. Natural light and tall ceilings create an airy feel, while a powder room and covered front porch enhance convenience and charm. All three bedrooms are located upstairs for privacy. The owner's suite features a walk-in closet, ensuite bath, and a second-story covered porch perfect for morning coffee. Two additional bedrooms share a full bath, ideal for guests, family, or a home office. Popular with buyers looking to downsize without sacrificing quality, the Surfside is especially suited for infill lots, and our team can handle the full teardown-to-turnkey process. With its distinctive architecture and efficient layout, the Surfside is ideal for year-round living, a weekend retreat, or a vacation rental along Delaware and Maryland's coastal towns.

Key facts

• Covered front porch
• Walk-in closet
• Ensuite bath

Tags

• OPEN-CONCEPT FIRST FLOOR
• WELL-APPOINTED KITCHEN
• WALK-IN PANTRY
• COVERED FRONT PORCH
• WALK-IN CLOSET
• ENSUITE BATH

🏗️ New construction. The $318,800 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $555,384.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (22.6% below list).
• Recommended offer: $247k (22.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#49 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: amenities F, commute F, cost of living 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: Lord Baltimore Elementary School (math 51% / reading 67%, grade B-, #4 of 105 statewide, top 4%, 579 students, 0% FRL); Selbyville Middle School (math 20% / reading 49%, grade F, #12 of 36 statewide, top 34%, 719 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.
• Zoned-school proficiency averages 45% at this address vs 33% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Indian River School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 127 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $4k of loan paydown is wiped out by about $5k 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

• It's been on market 164 days — a 12% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; 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 $246,617 (22.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.44% ✗
• Cap rate: 2.21%
• Cash-on-cash: -14.58%
• DSCR: 0.35
• GRM: 18.8

CMA / ARV

• ARV (median comp): $555,384
• List price: $318,800
• Delta: -42.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32256 Old School Ln	0.18mi	3/2.0	1,700 (+5%)	2mo	$620,000	$365	79
38 Hudson Ave	0.36mi	3/2.0	1,632 (+1%)	2mo	$450,000	$276	78
223 Chad Pl	0.43mi	3/2.0	1,617 (+0%)	0mo	$580,000	$359	77
32670 Cedar Dr	0.13mi	4/2.0 (+1)	1,700 (+5%)	1mo	$386,000	$227	77
14 Woods Cir	0.44mi	3/2.0	1,716 (+6%)	6mo	$519,000	$302	62
31434 Oak St	0.66mi	3/2.0	1,568 (-3%)	2mo	$330,000	$210	60
18 Whites Creek Ln	0.28mi	4/2.5 (+1)	1,840 (+14%)	5mo	$594,000	$323	54
13 S Primrose Ln	0.68mi	3/2.0	1,456 (-10%)	3mo	$394,000	$271	47
12 Windmill Ln	0.59mi	3/2.0	1,837 (+14%)	2mo	$399,900	$218	46
36697 W Club House Rd	0.60mi	3/2.0	1,392 (-14%)	2mo	$387,000	$278	45
24 Assawoman Ave	0.64mi	3/2.0	1,779 (+10%)	8mo	$440,000	$247	45
36728 Baltimore Ave	0.69mi	3/2.0	1,850 (+15%)	3mo	$385,000	$208	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: -0.04×
• Total profit: $-161,892
• Equity at exit: $138,060

10-year hold

• IRR: -18.4%
• Equity multiple: -0.61×
• Total profit: $-251,088
• Equity at exit: $148,408

Cash invested: $155,507 (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 19967

• Home prices YoY: -0.3%
• Active inventory: 127
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,466 medium
• Mortgage (P&I): −$2,912
• Tax est. 1.5%: −$694 /mo · $8,331/yr
• Insurance: −$231
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $-1,945

Break-even live

Break-even rent $4,929

Max offer price $273,883

Occupancy floor —

Sensitivity live

Price	-10% $-1,562	-5% $-1,753	+0% $-1,945	+5% $-2,137	+10% $-2,329
Rent	-10% $-2,140	-5% $-2,043	+0% $-1,945	+5% $-1,848	+10% $-1,751
Rate	-1.0pp $-1,666	-0.5pp $-1,804	base $-1,945	+0.5pp $-2,089	+1.0pp $-2,236

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: $138,846
• Closing costs: $16,662
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Village Green Dr Ocean View, DE	3.0	2.5	2076	$2,445	$1.18	15d	3	0.79mi
30839 Cedar Neck Rd Ocean View, DE	4.0	2.0	2040	$2,950	$1.45	45d	1	1.16mi
37580 Mahogany St Ocean View, DE	4.0	3.5	1600	$2,300	$1.44	45d	1	1.18mi
33697 Ashland Dr Frankford, DE	3.0	2.0	1696	$2,200	$1.30	45d	1	1.50mi

Listing history 17 events

1. 2026-06-21
   days on market $318,800 Active 164 DOM
2. 2026-06-18
   days on market $318,800 Active 161 DOM
3. 2026-06-17
   days on market $318,800 Active 160 DOM
4. 2026-06-16
   days on market $318,800 Active 159 DOM
5. 2026-06-15
   days on market $318,800 Active 158 DOM
6. 2026-06-14
   days on market $318,800 Active 156 DOM
7. 2026-06-13
   days on market $318,800 Active 155 DOM
8. 2026-06-10
   days on market $318,800 Active 153 DOM
9. 2026-06-09
   days on market $318,800 Active 152 DOM
10. 2026-06-08
    days on market $318,800 Active 151 DOM
11. 2026-06-07
    days on market $318,800 Active 150 DOM
12. 2026-06-02
    days on market $318,800 Active 145 DOM
13. 2026-06-01
    days on market $318,800 Active 144 DOM
14. 2026-05-31
    days on market $318,800 Active 143 DOM
15. 2026-05-30
    days on market $318,800 Active 142 DOM
16. 2026-03-20
    price $318,800 1255-char remark

    Show marketing remark (1255 chars)

    The Surfside by Bay to Beach Builders is a charming, space-efficient two-story home offering 1,614 heated sq. ft. , 3 bedrooms, and 2.5 baths. Designed for narrow lots and coastal infill locations like Lewes, Ocean View, and Bethany Beach, it blends timeless coastal appeal with smart modern living. Inside, an open-concept first floor emphasizes flow and flexibility. The foyer leads to a well-appointed kitchen with an island and walk-in pantry, opening directly to the dining area and great room. Natural light and tall ceilings create an airy feel, while a powder room and covered front porch enhance convenience and charm. All three bedrooms are located upstairs for privacy. The owner's suite features a walk-in closet, ensuite bath, and a second-story covered porch perfect for morning coffee. Two additional bedrooms share a full bath, ideal for guests, family, or a home office. Popular with buyers looking to downsize without sacrificing quality, the Surfside is especially suited for infill lots, and our team can handle the full teardown-to-turnkey process. With its distinctive architecture and efficient layout, the Surfside is ideal for year-round living, a weekend retreat, or a vacation rental along Delaware and Maryland's coastal towns.

17. 2026-01-08
    listed $314,200 Active 1255-char remark

    Show marketing remark (1255 chars)

    The Surfside by Bay to Beach Builders is a charming, space-efficient two-story home offering 1,614 heated sq. ft. , 3 bedrooms, and 2.5 baths. Designed for narrow lots and coastal infill locations like Lewes, Ocean View, and Bethany Beach, it blends timeless coastal appeal with smart modern living. Inside, an open-concept first floor emphasizes flow and flexibility. The foyer leads to a well-appointed kitchen with an island and walk-in pantry, opening directly to the dining area and great room. Natural light and tall ceilings create an airy feel, while a powder room and covered front porch enhance convenience and charm. All three bedrooms are located upstairs for privacy. The owner's suite features a walk-in closet, ensuite bath, and a second-story covered porch perfect for morning coffee. Two additional bedrooms share a full bath, ideal for guests, family, or a home office. Popular with buyers looking to downsize without sacrificing quality, the Surfside is especially suited for infill lots, and our team can handle the full teardown-to-turnkey process. With its distinctive architecture and efficient layout, the Surfside is ideal for year-round living, a weekend retreat, or a vacation rental along Delaware and Maryland's coastal towns.

ⓘ 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 X (unshaded) · 93% chance over 30 yrs
• 🔥 Wildfire 1/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,594
• − Mortgage interest: −$31,110
• − Property taxes: −$8,331
• − Insurance: −$3,443
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$16,157
• Taxable loss: −$34,182
• Est. tax savings @ 24.0%: +$8,204
• After-tax cash flow: $-15,141/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 — Millville

• Score: 64/100
• State rank: #49
• US rank: #13839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, DE
• City population: 2,093
• Population (ZIP): 2,093

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Lithuanian 5% Italian 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 1% Spanish 1% 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: ▼ -0.85%
• Current HPI: 263.8607
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1.5% since first listed

2 events — show timeline

• 2026-03-20 Price Changed $318,800 Zillow
• 2026-01-08 Listed $314,200 Zillow