925 Decoy Way Unit A192 · St. Georges, DE 19701

$95,000

3 bd · 2.0 ba · 1,140 sqft · SingleFamily · 37 Days on market

Built 2005 Good condition $83/sqft · 34% above area Est $71k · 34% over ↓ 10% 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
• Rent growth +4.8/5.0
• Condition / age +4.0/5.0
• Livability +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

SOLD FULLY FURNISHED! Step into this beautifully renovated 3-bedroom, 2-bath manufactured home in the heart of Bear, DE—where modern updates meet everyday comfort. From the moment you enter, you’ll love the bright, open-concept layout filled with natural light, fresh paint, and sleek, contemporary finishes throughout. The stunning kitchen is the centerpiece of the home, featuring brand-new appliances, ample cabinet space, and a seamless flow into the cozy dining and living areas—perfect for entertaining or relaxing at home. The private owner’s suite offers a true retreat, complete with a full bath and soaking tub, while two additional bedrooms provide flexible space

Key facts

• Private owners suite
• Renovated home
• Full bath

Tags

• RENOVATED HOME
• OPEN-CONCEPT LAYOUT
• STUNNING KITCHEN
• BRAND-NEW APPLIANCES
• PRIVATE OWNERS SUITE
• FULL BATH

Property features AI

Finance

• Other: Ownership: Land lease; Living area reported as estimated
• Financial info: Land lease years remaining: 0
• HOA & community: Land lease with monthly ground rent of $955; Ground rent exists

Exterior

• Parking: Driveway parking; Two driveway spaces (total 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Manufactured home; Single-wide mobile home; Estimated year built
• Construction: Aluminum siding; Shingle roof; Crawl space foundation
• Exterior features: No basement; 2+ access exits; Above-grade structures

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Single oven; Stove; Refrigerator; Stainless steel appliances
• Bedrooms: Three main-level bedrooms
• Flooring: Vinyl flooring; Laminate flooring
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: 90% efficient forced air heating; Propane (metered) heating fuel; Central air conditioning; Central A/C
• Interior features: Soaking tub; Ceiling fans; Combination kitchen and living area; Walk-in closet(s); Furnished
• Laundry & utility: Washer and dryer hookups; Dryer included

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 $1k ($15k/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: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 3.0% in St. Georges — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+9.0%/yr); 103 active listings in the ZIP; high-income renter base; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

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.
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.52% ✓
• Cap rate: 21.85%
• Cash-on-cash: 55.56%
• DSCR: 3.47
• GRM: 3.3

CMA / ARV

• ARV (median comp): $71,062
• List price: $95,000
• Delta: 33.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 N Dragon Dr Unit A008	0.38mi	4/2.0 (+1)	1,100 (-4%)	1mo	$56,000	$51	70
918 Decoy Way #171	0.05mi	2/2.0 (-1)	980 (-14%)	3mo	$61,775	$63	67
841 Trophy Way	0.11mi	3/2.0	1,064 (-7%)	23mo	$50,000	$47	65
97 N Dragon Dr	0.26mi	3/2.0	1,000 (-12%)	9mo	$50,000	$50	60
27 N Dragon Dr Unit A016	0.33mi	3/2.0	1,055 (-8%)	19mo	$85,000	$81	57
1110 Colt Cir #728	0.23mi	3/2.0	1,269 (+11%)	19mo	$75,000	$59	55

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 59.5%
• Equity multiple: 3.85×
• Total profit: $75,719
• Equity at exit: $14,165

10-year hold

• IRR: 66.0%
• Equity multiple: 9.44×
• Total profit: $224,583
• 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 →

ZIP-level market 19701

• Rents YoY: 9.0%
• Active inventory: 103
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,390 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $1,232

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 43%

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
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $95,000 Active 37 DOM
2. 2026-06-17
   days on market $95,000 Active 36 DOM
3. 2026-06-16
   days on market $95,000 Active 35 DOM
4. 2026-06-15
   days on market $95,000 Active 34 DOM
5. 2026-06-13
   days on market $95,000 Active 32 DOM
6. 2026-06-09
   days on market $95,000 Active 28 DOM
7. 2026-06-08
   days on market $95,000 Active 27 DOM
8. 2026-06-08
   price $95,000 Active 26 DOM
9. 2026-06-07
   days on market $99,000 Active 26 DOM
10. 2026-06-04
    days on market $99,000 Active 23 DOM
11. 2026-06-03
    days on market $99,000 Active 22 DOM
12. 2026-06-02
    days on market $99,000 Active 21 DOM
13. 2026-06-01
    days on market $99,000 Active 20 DOM
14. 2026-05-31
    days on market $99,000 Active 19 DOM
15. 2026-05-12
    listed $105,000 Active 1617-char remark

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

Taxation est. · year 1

• Rental income: $28,681
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − Depreciation: −$2,764
• Taxable income: $14,107
• Est. tax owed @ 24.0%: −$3,386
• After-tax cash flow: $11,394/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 · 1 photo

Good 80/100 Cosmetic rehab

This beautifully renovated 3-bedroom, 2-bath manufactured home is move-in ready with modern updates and fresh finishes. The property offers a bright, open-concept layout and is situated in a desirable location.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New flooring in bathrooms — Improves aesthetics and functionality.
• Both New window treatments — Enhances curb appeal and value.
• Both New lighting fixtures — Enhances curb appeal and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New flooring in bathrooms — Improves aesthetics and functionality. ↑
• Both New window treatments — Enhances curb appeal and value. ↑
• Both New lighting fixtures — Enhances curb appeal and value. ↑

ⓘ 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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — St. Georges

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: New Castle County · 483,412 people
• City population: 182
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 42,984
• Household income: $111,198
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 619.0

Population outlook (New Castle County) Hauer SSP2

• Today (2025): 594,686 people
• By 2030: 609,164 · +2.4%
• By 2040: 632,154 · +6.3%
• By 2050: 649,068 · +9.1%
• By 2075: 687,771 · +15.7%
• By 2100: 694,961 · +16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 50% Black 26% Hispanic / Latino 11% Asian 10% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 78% English-only · Spanish 8% Other Asian/Pacific 3% Other Indo-European 3%

Political lean MEDSL · New Castle

• 2024 margin: Solid D (+32.6) · D 65.5% · R 32.9% · Other 1.6%
• 2008→2024 swing: -8.1pp toward R · 2008: 40.6pp · 2024: 32.6pp
• All cycles: 2024: D+32.6 2020: D+37.1 2016: D+29.6 2012: D+34.1 2008: D+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.00%
• Current HPI: 261.2988
• Rent YoY: ▲ 9.03%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-9.5% since first listed

4 events — show timeline

• 2026-06-08 Price Changed $95,000 BRIGHT MLS
• 2026-05-29 Price Changed $99,000 BRIGHT MLS
• 2026-05-24 Price Changed $104,000 BRIGHT MLS
• 2026-05-12 Listed $105,000 BRIGHT MLS