8 Thorn Ct · New Castle, DE 19720

$189,900

3 bd · 1.0 ba · 1,025 sqft · Townhouse public records · 12 Days on market

Built 1959 1,742 sqft lot Est $205k · 7% under

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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 +21.3/30.0
• ARV discount +10.8/15.0
• DSCR +6.8/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great updated townhome ready for a new owner! Lots of major updates over the past few years including newer roof, windows, sliding door. heater, and water heater. Fresh paint throughout, 6 panel doors, LVP flooring, new carpet, granite countertops with tiled backslash, fully remodeled tiled bathroom and fenced yard. This home is move in ready!

Key facts

• Built 1959
• Listed 12 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas for heating; Electric hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Finished above-grade living area recorded by assessor
• Construction: Brick and asbestos siding construction; Slab foundation; Above-grade and below-grade structures noted; Year built recorded by assessor
• Exterior features: Lot dimensions approximately 16.2 x 103.9; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating; Electric cooling
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (6.5% below list).
• Recommended offer: $178k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.7% in New Castle — 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 72/100 on livability (#13 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools D, crime F, commute F.
• 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: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,630 (6.5% below list)

Questions for the listing agent

1. Built in 1959 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.94% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $205,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Thorn Ct	0.00mi	3/1.0	1,025 (0%)	1mo	$185,000	$180	99
31 Rose Ln	0.06mi	3/1.0	1,025 (0%)	7mo	$115,500	$113	92
62 Rose Ln	0.08mi	3/1.0	1,025 (0%)	6mo	$115,000	$112	91
23 Simonds Dr	0.13mi	3/1.0	1,020 (-0%)	4mo	$238,060	$233	90
43 Thorn Ln	0.10mi	3/1.5	1,025 (0%)	5mo	$205,000	$200	89
104 Thorn Ln	0.19mi	3/1.0	1,025 (0%)	8mo	$194,000	$189	85
322 Sheridan Dr	0.33mi	3/1.0	1,025 (0%)	4mo	$225,000	$220	81
323 Sheridan Dr	0.35mi	3/1.0	1,025 (0%)	10mo	$225,000	$220	76
341 Sheridan Dr	0.39mi	3/1.0	1,025 (0%)	9mo	$224,000	$219	74
209 Parma Ave	0.43mi	3/1.5	1,125 (+10%)	4mo	$180,000	$160	59
241 Mansion Pkwy	0.17mi	3/2.0	1,175 (+15%)	11mo	$299,000	$254	55
29 South St	0.61mi	2/1.0 (-1)	875 (-15%)	4mo	$110,000	$126	38

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-13,194
• Equity at exit: $28,315

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $10,902
• Equity at exit: $16,419

Cash invested: $53,172 (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 19720

• Active inventory: 141
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $277

Break-even live

Break-even rent $1,425

Max offer price $189,900

Occupancy floor 79%

Sensitivity live

Price	-10% $385	-5% $331	+0% $277	+5% $224	+10% $170
Rent	-10% $137	-5% $207	+0% $277	+5% $348	+10% $418
Rate	-1.0pp $373	-0.5pp $326	base $277	+0.5pp $228	+1.0pp $178

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 S Claymont St Wilmington, DE	2.0	1.0	1000	$1,399	$1.40	19d	1	1.43mi
606 S Claymont St Wilmington, DE	2.0	1.0	1000	$1,399	$1.40	17d	1	1.43mi

Listing history 5 events

1. 2026-04-22
   status Pending
2. 2026-04-11
   listed $189,900 Active
3. 2026-04-09
   historical $189,900
4. 2006-10-25
   historical
5. 2006-07-20
   listed $55,000

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: +$245/yr (+$20/mo · 40.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,316
• − Mortgage interest: −$10,637
• − Property taxes: −$611
• − Insurance: −$950
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$5,524
• Taxable income: $183
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $3,285/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: 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 — New Castle

• Score: 72/100
• State rank: #13
• US rank: #5905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• City population: 62,392
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 62,392
• Household income: $75,403
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1852.0

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: Black 42% White 35% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 1% Swedish 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -261.00%
• Current HPI: 255.0404
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+245.3% since first listed

5 events — show timeline

• 2026-04-22 Pending — BRIGHT MLS
• 2026-04-11 Listed $189,900 BRIGHT MLS
• 2026-04-09 Coming Soon $189,900 BRIGHT MLS
• 2006-10-25 Listing Removed — BRIGHT MLS
• 2006-07-20 Listed $55,000 BRIGHT MLS

Property tax history

+3.5%/yr

Latest (2024): $611 · -6.8% YoY. Source: county tax records.