92 Freeborn Ln · Camden, DE 19934

$281,000

3 bd · 2.5 ba · 1,901 sqft · Townhouse public records · 9 Days on market

Built 2017 1,960 sqft lot Est $310k · 9% under $24/mo HOA · 1% of rent

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Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +11.7/15.0
• DSCR +4.3/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

Key facts

• Master suite
• Attached bathroom
• Large living room

Tags

• OPEN GREAT ROOM
• LARGE LIVING ROOM
• KITCHEN WITH ISLAND
• SLIDER TO REAR DECK
• MASTER SUITE
• ATTACHED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $281k.

Deal economics

• At list price, monthly cash flow is $47 ($559/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 $222k (21.2% below list).
• Recommended offer: $222k (21.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.5% in Camden — 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 (#47 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living A-; Watch: crime F, amenities F, commute F.
• Caesar Rodney School District (suburban): math 26% / reading 49% proficiency, ranked #9 of 26 in DE (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: J. Ralph Mcilvaine Early Childhood Center (523 students, 0% FRL); Fred Fifer Iii Middle School (math 25% / reading 51%, grade F, #8 of 36 statewide, top 20%, 679 students, 0% FRL); Caesar Rodney High School (math 31% / reading 61%, grade D-, #7 of 40 statewide, top 15%, 2,257 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 93 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.
• Current owner paid $242k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $221,521 (21.2% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $309,863
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
79 Tyndall Trl	0.02mi	4/3.5 (+1)	1,897 (-0%)	6mo	$312,000	$164	84
84 Tidbury Xing	0.07mi	3/2.5	1,996 (+5%)	13mo	$320,000	$160	78
205 Tidbury Xing	0.13mi	4/3.5 (+1)	1,930 (+2%)	9mo	$315,000	$163	75
42 Freeborn Ln	0.05mi	4/3.5 (+1)	1,808 (-5%)	10mo	$320,000	$177	72
115 Tidbury Xing	0.09mi	4/3.5 (+1)	1,912 (+1%)	24mo	$310,000	$162	66
50 Freeborn Ln	0.04mi	4/2.5 (+1)	2,155 (+13%)	8mo	$305,000	$142	64

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-42,683
• Equity at exit: $41,898

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-33,810
• Equity at exit: $24,296

Cash invested: $78,680 (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 19934

• Home prices YoY: -25.1%
• Active inventory: 93
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,215 high
• Mortgage (P&I): −$1,474
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$117
• HOA: −$24
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $47

Break-even live

Break-even rent $2,156

Max offer price $281,000

Occupancy floor 93%

Sensitivity live

Price	-10% $206	-5% $126	+0% $47	+5% $-33	+10% $-113
Rent	-10% $-128	-5% $-41	+0% $47	+5% $134	+10% $222
Rate	-1.0pp $188	-0.5pp $118	base $47	+0.5pp $-26	+1.0pp $-100

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: $70,250
• Closing costs: $8,430
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Kennison Ln Dover, DE	3.0	3.0	1530	$2,200	$1.44	45d	1	0.55mi
300 East St Camden, DE	1.0–3.0	1.0–2.0	1272	$2,695	$2.12	45d	1	1.03mi
72 Filbert Dr Camden Wyoming, DE	4.0	2.5	2601	$2,000	$0.77	45d	1	1.21mi
2452 Peachtree Run Rd Dover, DE	3.0	1.5	1558	$2,200	$1.41	45d	1	1.21mi
104 Southern Blvd Wyoming, DE	3.0	1.0	1656	$2,000	$1.21	45d	1	1.25mi

HOA detail

• Monthly dues: $24 · $288/yr

Listing history 9 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   historical
3. 2026-04-14
   listed $281,000 Active
4. 2021-09-27
   soldstatus $242,000
5. 2017-11-06
   status Under Contract 153-char remark

   Show marketing remark (153 chars)

   This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

6. 2017-11-02
   soldstatus $197,580 Sold 153-char remark

   Show marketing remark (153 chars)

   This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

7. 2017-11-02
   soldstatus $197,580 Closed 153-char remark

   Show marketing remark (153 chars)

   This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

8. 2017-05-31
   listed $198,900 Active 153-char remark

   Show marketing remark (153 chars)

   This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

9. 2016-09-28
   listed $198,900 Active 153-char remark

   Show marketing remark (153 chars)

   This Addison Devonshire floor plan is an end unit featuring 3 Bedroom, 2.5 Bath, 2 Car Garage, 3-story townhome with a finished Study on the lower level.

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,348 · $112/mo
• Expected delta: +$282/yr (+$24/mo · 26.5%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,583
• − Mortgage interest: −$15,740
• − Property taxes: −$1,066
• − Insurance: −$1,405
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − HOA: −$288
• − Depreciation: −$8,175
• Taxable loss: −$4,344
• Est. tax savings @ 24.0%: +$1,043
• After-tax cash flow: $1,601/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: Caesar Rodney School District
• NCES district ID: 1000180
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 49% ▼ -14.00%
• Median HH income: $61,187
• Composite: 33.4/100
• National rank: #5475
• State rank: #9 of 26 in DE

Livability — Camden

• Score: 64/100
• State rank: #47
• US rank: #13717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camden, DE
• Population (ZIP): 13,579

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: Majority White (63%)
• Race & ethnicity: White 63% Black 24% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 4% German/W. Germanic 4% French/Haitian/Cajun 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: ▼ -62.19%
• Current HPI: 185.0938
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+41.3% since first listed

9 events — show timeline

• 2026-04-27 Pending — BRIGHT MLS
• 2026-04-23 Listing Removed — BRIGHT MLS
• 2026-04-14 Listed $281,000 BRIGHT MLS
• 2021-09-27 Sold (Public Records) $242,000 Public Records
• 2017-11-06 Pending — TREND
• 2017-11-02 Sold (MLS) $197,580 BRIGHT MLS
• 2017-11-02 Sold (MLS) $197,580 TREND
• 2017-05-31 Listed $198,900 TREND
• 2016-09-28 Listed $198,900 BRIGHT MLS

Property tax history

+43.6%/yr

Latest (2025): $1,066 · +0.4% YoY. Source: county tax records.