646 Fox Pointe Dr #71 · Cheswold, DE 19904

$125,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 79 Days on market

Built 2005 Good condition $93/sqft · 38% above area Est $91k · 38% over ↓ 7% 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
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED. .. . MOTIVATED SELLER. !! Well-maintained 3 bedroom, 2 bath home in excellent condition! This bright and inviting home features a sunny eat-in kitchen with abundant cabinetry, center island, and plenty of counter space—perfect for everyday living and entertaining. A convenient laundry area is located just off the kitchen. The home offers a spacious living room and a comfortable main bedroom suite with a large bathroom featuring a double vanity, stand-up shower, and walk-in closet. New laminate flooring has been installed in the living room and all bedrooms, adding a fresh, modern feel throughout. Enjoy additional outdoor storage with a backyard shed. New Roof in April 2021. Located in a leased land community. All buyers must do application and receive park approval, including credit and background checks, prior to settlement. Trash, Water and Sewer included in the monthly lease.

Key facts

• Laundry area
• Main bedroom suite
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• ABUNDANT CABINETRY
• CENTER ISLAND
• LAUNDRY AREA
• SPACIOUS LIVING ROOM
• MAIN BEDROOM SUITE

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 $784 ($9k/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: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 3.1% in Cheswold — 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 62/100 on livability (#62 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, schools F, amenities F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.3%/yr); 225 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/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.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.67% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.87%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $90,717
• List price: $125,000
• Delta: 37.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
174 Humpsman Dr #150	0.07mi	3/2.0	1,216 (-10%)	6mo	$85,000	$70	76
53 New St	0.41mi	3/1.5	1,356 (+1%)	6mo	$80,000	$59	72
310 Main St	0.53mi	3/2.0	1,344 (0%)	9mo	$299,000	$222	68
14 Foxhound Ct #228	0.35mi	3/2.0	1,400 (+4%)	12mo	$98,500	$70	66
122 Casselberry Ln	0.46mi	2/2.0 (-1)	1,379 (+3%)	5mo	$320,000	$232	65
185 Winding Carriage Ln	0.45mi	2/2.0 (-1)	1,314 (-2%)	9mo	$339,000	$258	63
345 Norway Dr #345	0.41mi	3/2.0	1,216 (-10%)	3mo	$86,500	$71	62
118 Leander Dr	0.60mi	2/2.0 (-1)	1,300 (-3%)	4mo	$300,000	$231	58
11 Fairmont Ln	0.49mi	2/2.0 (-1)	1,266 (-6%)	13mo	$325,000	$257	52
809 Resort Blvd	0.73mi	3/2.0	1,453 (+8%)	4mo	$339,810	$234	49
78 Leander Dr	0.62mi	2/2.0 (-1)	1,536 (+14%)	0mo	$360,000	$234	42
61 Petal Park Pl	0.68mi	2/2.0 (-1)	1,536 (+14%)	9mo	$414,900	$270	32

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.87×
• Total profit: $30,319
• Equity at exit: $18,638

10-year hold

• IRR: 29.5%
• Equity multiple: 3.67×
• Total profit: $93,405
• Equity at exit: $10,808

Cash invested: $35,000 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,085 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $784

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 57%

Sensitivity live

Price	-10% $870	-5% $827	+0% $784	+5% $740	+10% $697
Rent	-10% $619	-5% $701	+0% $784	+5% $866	+10% $948
Rate	-1.0pp $847	-0.5pp $815	base $784	+0.5pp $751	+1.0pp $718

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-01
   price $125,000 906-char remark

   Show marketing remark (906 chars)

   REDUCED. .. . MOTIVATED SELLER. !! Well-maintained 3 bedroom, 2 bath home in excellent condition! This bright and inviting home features a sunny eat-in kitchen with abundant cabinetry, center island, and plenty of counter space—perfect for everyday living and entertaining. A convenient laundry area is located just off the kitchen. The home offers a spacious living room and a comfortable main bedroom suite with a large bathroom featuring a double vanity, stand-up shower, and walk-in closet. New laminate flooring has been installed in the living room and all bedrooms, adding a fresh, modern feel throughout. Enjoy additional outdoor storage with a backyard shed. New Roof in April 2021. Located in a leased land community. All buyers must do application and receive park approval, including credit and background checks, prior to settlement. Trash, Water and Sewer included in the monthly lease.

2. 2026-04-11
   price $130,000 906-char remark

   Show marketing remark (906 chars)

   REDUCED. .. . MOTIVATED SELLER. !! Well-maintained 3 bedroom, 2 bath home in excellent condition! This bright and inviting home features a sunny eat-in kitchen with abundant cabinetry, center island, and plenty of counter space—perfect for everyday living and entertaining. A convenient laundry area is located just off the kitchen. The home offers a spacious living room and a comfortable main bedroom suite with a large bathroom featuring a double vanity, stand-up shower, and walk-in closet. New laminate flooring has been installed in the living room and all bedrooms, adding a fresh, modern feel throughout. Enjoy additional outdoor storage with a backyard shed. New Roof in April 2021. Located in a leased land community. All buyers must do application and receive park approval, including credit and background checks, prior to settlement. Trash, Water and Sewer included in the monthly lease.

3. 2026-03-06
   listed $135,000 Active 906-char remark

   Show marketing remark (906 chars)

   REDUCED. .. . MOTIVATED SELLER. !! Well-maintained 3 bedroom, 2 bath home in excellent condition! This bright and inviting home features a sunny eat-in kitchen with abundant cabinetry, center island, and plenty of counter space—perfect for everyday living and entertaining. A convenient laundry area is located just off the kitchen. The home offers a spacious living room and a comfortable main bedroom suite with a large bathroom featuring a double vanity, stand-up shower, and walk-in closet. New laminate flooring has been installed in the living room and all bedrooms, adding a fresh, modern feel throughout. Enjoy additional outdoor storage with a backyard shed. New Roof in April 2021. Located in a leased land community. All buyers must do application and receive park approval, including credit and background checks, prior to settlement. Trash, Water and Sewer included in the monthly lease.

ⓘ 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: $25,025
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$3,636
• Taxable income: $7,883
• Est. tax owed @ 24.0%: −$1,892
• After-tax cash flow: $7,512/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 excellent condition offers new laminate flooring and a new roof. While the kitchen and bathroom need updating, the home is move-in ready and has good curb appeal.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate bathroom tile — dated and in need of updating

Value-add opportunities

• Resale new kitchen cabinets, countertops, and appliances — modernizes the kitchen and improves functionality
• Resale new bathroom fixtures and tile — modernizes the bathroom and improves functionality
• Both landscaping and curb appeal — enhances the home's curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
bathroom tile · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Resale new kitchen cabinets, countertops, and appliances — modernizes the kitchen and improves functionality ↑
• Resale new bathroom fixtures and tile — modernizes the bathroom and improves functionality ↑
• Both landscaping and curb appeal — enhances the home's curb appeal and can increase both resale and rental 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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Cheswold

• Score: 62/100
• State rank: #62
• US rank: #16254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheswold, DE
• County: Kent County · 82,184 people
• City population: 176
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

-7.4% since first listed

3 events — show timeline

• 2026-05-01 Price Changed $125,000 BRIGHT MLS
• 2026-04-11 Price Changed $130,000 BRIGHT MLS
• 2026-03-06 Listed $135,000 BRIGHT MLS