602 Marshall St · Milford, DE 19963

$189,000

2 bd · 1.0 ba · 768 sqft · SingleFamily · 215 Days on market

Built 2017 6,098 sqft lot $246/sqft · 20% below area Est $235k · 20% 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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 2017

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/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 $159k (16.1% below list).
• Recommended offer: $159k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.7% in Milford — 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 (#61 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D+, crime F, amenities F.
• Milford School District (town): math 18% / reading 32% proficiency, ranked #22 of 26 in DE (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 207 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,562 (16.1% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 16% 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 9.9

CMA / ARV

• ARV (median comp): $235,196
• List price: $189,000
• Delta: -19.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 New St	0.68mi	2/1.0	816 (+6%)	15mo	$159,000	$195	46

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: -11.4%
• Equity multiple: 0.59×
• Total profit: $-21,897
• Equity at exit: $28,181

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-8,088
• Equity at exit: $16,341

Cash invested: $52,920 (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 19963

• Active inventory: 207
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,586 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $139

Break-even live

Break-even rent $1,410

Max offer price $189,000

Occupancy floor 86%

Sensitivity live

Price	-10% $246	-5% $192	+0% $139	+5% $85	+10% $32
Rent	-10% $13	-5% $76	+0% $139	+5% $201	+10% $264
Rate	-1.0pp $234	-0.5pp $187	base $139	+0.5pp $90	+1.0pp $40

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 NW Front St Milford, DE	1.0	1.0	700	$1,450	$2.07	44d	1	0.89mi
409 N Washington St Milford, DE	3.0	1.5	1050	$1,500	$1.43	44d	1	1.07mi
100 Valley Dr Milford, DE	1.0–3.0	1.0–2.0	1011	$1,754	$1.74	44d	13	1.16mi
300 Lynx Ln Milford, DE	1.0–3.0	1.0–2.0	1272	$1,795	$1.41	22d	1	1.47mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $189,000 Pending 215 DOM
2. 2026-06-03
   days on market $189,000 Active 214 DOM
3. 2026-06-02
   days on market $189,000 Active 213 DOM
4. 2026-06-01
   days on market $189,000 Active 212 DOM
5. 2026-05-31
   days on market $189,000 Active 211 DOM
6. 2026-05-30
   days on market $189,000 Active 210 DOM
7. 2026-03-25
   price $189,000 1152-char remark

   Show marketing remark (1152 chars)

   Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

8. 2026-03-24
   status Active 1152-char remark

   Show marketing remark (1152 chars)

   Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

9. 2026-03-09
   historical Active Under Contract 1152-char remark

   Show marketing remark (1152 chars)

   Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

10. 2025-10-17
    listed $199,900 Active 1152-char remark

    Show marketing remark (1152 chars)

    Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

11. 2025-10-13
    historical $199,900 1152-char remark

    Show marketing remark (1152 chars)

    Back on the market at no fault to the seller, buyer changed their minds! Nestled in a vibrant community, this charming bungalow offers a perfect blend of comfort and convenience. This delightful home features 2 cozy bedrooms and a well-appointed full bathroom, making it an ideal retreat for those seeking a peaceful lifestyle. The inviting exterior, adorned with low-maintenance vinyl siding, welcomes you into a warm and airy interior. The detached garage provides ample space for your vehicles and hobbies, while the driveway ensures easy access for guests. The 0.14-acre lot offers a manageable outdoor space, perfect for gardening or enjoying a quiet afternoon in the sun. With a strong sense of community, this area hosts various events throughout the year, fostering connections among neighbors. Whether you're exploring local shops, enjoying a leisurely stroll in the park, or participating in community activities, there's always something to engage in. This bungalow is not just a house; it's a place to create lasting memories. Experience the warmth of this inviting home and the vibrant community that surrounds it. Your new chapter awaits!

12. 2022-03-22
    soldstatus $145,000 Closed 533-char remark

    Show marketing remark (533 chars)

    This 2 bedroom, 1 bathroom home is located in the heart of Milford. Just a short drive from local beaches, dining, and recreational options. This prime location offers the excitement of the beach without compromising your peace and quiet. It features a nice size family room when you first walk in and includes a two car detached garage/shed for extra storage. This property offers endless opportunities! Priced to sell, this property is perfect for a first time home owner to get that cozy feeling. Schedule your private tour today!

13. 2022-01-20
    historical Active Under Contract 533-char remark

    Show marketing remark (533 chars)

    This 2 bedroom, 1 bathroom home is located in the heart of Milford. Just a short drive from local beaches, dining, and recreational options. This prime location offers the excitement of the beach without compromising your peace and quiet. It features a nice size family room when you first walk in and includes a two car detached garage/shed for extra storage. This property offers endless opportunities! Priced to sell, this property is perfect for a first time home owner to get that cozy feeling. Schedule your private tour today!

14. 2021-12-30
    listed $145,000 Active 533-char remark

    Show marketing remark (533 chars)

    This 2 bedroom, 1 bathroom home is located in the heart of Milford. Just a short drive from local beaches, dining, and recreational options. This prime location offers the excitement of the beach without compromising your peace and quiet. It features a nice size family room when you first walk in and includes a two car detached garage/shed for extra storage. This property offers endless opportunities! Priced to sell, this property is perfect for a first time home owner to get that cozy feeling. Schedule your private tour today!

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $813 · $68/mo
• Expected delta: +$283/yr (+$24/mo · 53.3%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,027
• − Mortgage interest: −$10,587
• − Property taxes: −$531
• − Insurance: −$945
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$5,498
• Taxable loss: −$1,578
• Est. tax savings @ 24.0%: +$379
• After-tax cash flow: $2,041/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: Milford School District
• NCES district ID: 1001080
• Math proficiency: 18% ▼ -26.00%
• Reading proficiency: 32% ▼ -19.00%
• Median HH income: $51,794
• Composite: 22.18/100
• National rank: #8162
• State rank: #22 of 26 in DE

Livability — Milford

• Score: 62/100
• State rank: #61
• US rank: #16211

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milford, DE
• Population (ZIP): 22,544

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 0.56)
• Race & ethnicity: White 62% Black 20% Hispanic / Latino 10% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 1%
• Foreign-born: 11% · Canada, China
• Languages at home: 84% English-only · Spanish 7% French/Haitian/Cajun 5% Other Indo-European 2%

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: ▼ -135.01%
• Current HPI: 227.2369
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+30.3% since first listed

8 events — show timeline

• 2026-03-25 Price Changed $189,000 BRIGHT MLS
• 2026-03-24 Relisted — BRIGHT MLS
• 2026-03-09 Contingent — BRIGHT MLS
• 2025-10-17 Listed $199,900 BRIGHT MLS
• 2025-10-13 Coming Soon $199,900 BRIGHT MLS
• 2022-03-22 Sold (MLS) $145,000 BRIGHT MLS
• 2022-01-20 Contingent — BRIGHT MLS
• 2021-12-30 Listed $145,000 BRIGHT MLS

Property tax history

+10.3%/yr

Latest (2025): $531 · +130.4% YoY. Source: county tax records.