453 N North St · Seaford, DE 19973

$199,900

3 bd · 1.5 ba · 1,792 sqft · SingleFamily · 20 Days on market

Built 1975 3,485 sqft lot Est $285k · 30% under

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Why this score? — see what drove the B- 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +5.9/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 3,485 sq ft lot
• Built 1975
• Listed 20 days

Property features AI

Finance

• Other: Year built information from assessor; Above-grade finished area reported as 1,792 (assessor)
• Financial info: Ground rent paid annually

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer; Natural gas heating fuel; Electric cooling and hot water
• Home design: Detached frame home; Single-story layout with main-level living; Fee simple ownership
• Construction: Frame construction; Block foundation; Above-grade and below-grade structures
• Exterior features: Chain link fencing; Lot approximately 50 x 75

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom and one half bathroom on the main level
• Heating & cooling: Forced air heating; Window air conditioning units (electric); Electric hot water
• Interior features: Not in a federal flood zone; Main-level ramp for accessibility; Living area per assessor
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.4% in Seaford — 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 64/100 on livability (#54 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Seaford School District (suburban): math 25% / reading 40% proficiency, ranked #15 of 26 in DE (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Seaford Central Elementary School (math 36% / reading 45%, grade F, #25 of 105 statewide, top 26%, 452 students, 0% FRL); Seaford Middle School (math 13% / reading 36%, grade F, #24 of 36 statewide, top 69%, 828 students, 0% FRL); Seaford Senior High School (math 12% / reading 27%, grade F, #32 of 40 statewide, top 85%, 879 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 216 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $284,928
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
462 N North St	0.02mi	3/1.0	1,600 (-11%)	22mo	$125,000	$78	61
408 E King St	0.39mi	3/1.0	1,856 (+4%)	20mo	$145,000	$78	57
814 Bridgeville Hwy	0.41mi	4/3.5 (+1)	1,800 (+0%)	13mo	$272,000	$151	56
213 E Spruce St	0.48mi	4/1.5 (+1)	1,800 (+0%)	19mo	$289,900	$161	56
421 N Porter St	0.71mi	3/1.5	1,910 (+7%)	3mo	$270,000	$141	54
1440 Virginia Ave	0.42mi	3/2.5	1,600 (-11%)	17mo	$275,000	$172	44
304 Williams St	0.63mi	4/2.0 (+1)	1,650 (-8%)	10mo	$285,000	$173	42
117 Pine Cove Dr	0.60mi	3/2.5	1,975 (+10%)	11mo	$435,000	$220	42
126 Holly Oak Dr	0.66mi	3/2.0	1,950 (+9%)	16mo	$310,000	$159	40

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: $1,090
• Equity at exit: $29,806

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $43,838
• Equity at exit: $17,284

Cash invested: $55,972 (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 19973

• Home prices YoY: -17.8%
• Active inventory: 216
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,181 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $527

Break-even live

Break-even rent $1,514

Max offer price $199,900

Occupancy floor 71%

Sensitivity live

Price	-10% $640	-5% $584	+0% $527	+5% $470	+10% $414
Rent	-10% $355	-5% $441	+0% $527	+5% $613	+10% $699
Rate	-1.0pp $628	-0.5pp $578	base $527	+0.5pp $475	+1.0pp $422

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Water St Seaford, DE	1.0–3.0	1.0–2.0	1174	$2,095	$1.78	15d	1	0.49mi
23033 Meadow Wood Ct Seaford, DE	1.0–3.0	1.0–2.0	1054	$2,100	$1.99	15d	1	1.19mi
215 William Ross Ln Seaford, DE	3.0	2.5	1850	$2,150	$1.16	45d	1	1.19mi
260 Marion Dr Seaford, DE	3.0	1.5	2232	$2,500	$1.12	15d	1	1.42mi

Listing history 13 events

1. 2026-06-21
   days on market $199,900 Coming Soon 20 DOM
2. 2026-06-21
   days on market $199,900 Coming Soon 19 DOM
3. 2026-06-18
   days on market $199,900 Coming Soon 17 DOM
4. 2026-06-17
   days on market $199,900 Coming Soon 16 DOM
5. 2026-06-16
   days on market $199,900 Coming Soon 15 DOM
6. 2026-06-15
   days on market $199,900 Coming Soon 14 DOM
7. 2026-06-13
   days on market $199,900 Coming Soon 12 DOM
8. 2026-06-12
   days on market $199,900 Coming Soon 11 DOM
9. 2026-06-09
   days on market $199,900 Coming Soon 8 DOM
10. 2026-06-08
    days on market $199,900 Coming Soon 7 DOM
11. 2026-06-07
    days on market $199,900 Coming Soon 6 DOM
12. 2026-06-04
    days on market $199,900 Coming Soon 2 DOM
13. 2026-06-01
    listed $199,900 Coming Soon 1 DOM

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

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $770 · $64/mo
• Projected year-2 tax: $965 · $80/mo
• Expected delta: +$195/yr (+$16/mo · 25.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,168
• − Mortgage interest: −$11,198
• − Property taxes: −$770
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$5,815
• Taxable income: $3,199
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $5,556/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: Seaford School District
• NCES district ID: 1001530
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $48,427
• Composite: 28.07/100
• National rank: #6835
• State rank: #15 of 26 in DE

Livability — Seaford

• Score: 64/100
• State rank: #54
• US rank: #14448

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seaford, DE
• Population (ZIP): 25,786

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 20% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% Vietnamese 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: ▼ -62.40%
• Current HPI: 288.5652
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-01 Coming Soon $199,900 BRIGHT MLS

Property tax history

+35.2%/yr

Latest (2025): $770 · +12.0% YoY. Source: county tax records.