Neoprene has been gradually improved over time. Anything you buy now is almost certainly waterproof. Something that is older may or may not be waterproof. Depends on how old it is. When I began windsurfing (in the dark ages), which was before I began kayaking, neoprene was not completely waterproof. Since the OP said the neoprene was older it may not be the seams. But seam leaks should be examined first.
Reflective Hull Decals
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