309 Cambridge Dr · Camden, DE 19934

$315,000

3 bd · 1.5 ba · 1,308 sqft · SingleFamily public records · 8 Days on market

Built 1970 7,841 sqft lot $241/sqft · 51% above area Est $352k · 11% under

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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).

• ARV discount +12.2/15.0
• Cash flow +8.4/30.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming, ranch-style home, lovingly maintained by its original owner and ideally located in the heart of Camden, DE. This inviting single-story residence offers three bedrooms and two full bathrooms, combining comfort with timeless appeal. Step inside to discover a traditional floor plan that blends functionality with classic style. The remodeled kitchen is a standout feature, offering abundant cabinetry, a dedicated pantry, gas cooking, an enameled sink, and a breakfast bar with seating—perfect for everyday living and entertaining. Just beyond, a bright breakfast room/sunroom addition features a vaulted ceiling and a stunning Palladian window that fills the space wit

Key facts

• Remodeled kitchen
• Finished basement
• Enclosed porch

Tags

• REMODELED KITCHEN
• FINISHED BASEMENT
• BUILT-IN BAR
• ELECTRIC FIREPLACE
• GAME ROOM
• ENCLOSED PORCH

Property features AI

Exterior

• Parking: Attached garage (front entry) and attached carport; Total of 4 parking spaces; Driveway with space for 2 vehicles
• Utilities: Public water; Public sewer; Cable TV available; 150 amp electrical service
• Home design: Detached single-family home; Architectural shingle roof; Brick front with vinyl siding and stick-built construction; Block foundation; Above- and below-grade living areas; Partially finished basement
• Construction: Estimated year built; Brick front, stick-built, vinyl siding; Architectural shingle roof; Block foundation
• Exterior features: Patio(s); Enclosed porch(es); Gutter system; Sidewalks; Street lights; Vinyl fencing; Landscaped yard; Located on a cul-de-sac; Not in a federal flood zone

Interior

• Kitchen: Built-in range; Electric oven/range; Microwave; Dishwasher; Disposal; Extra refrigerator/freezer; Refrigerator
• Bedrooms: Three main-level bedrooms (Master Bedroom, Bedroom 2, Bedroom 3)
• Flooring: Hardwood floors; Carpeted and partially carpeted areas; Wood floors
• Bathrooms: Two full bathrooms (one on main level, one on lower level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric, 150 amp service)
• Interior features: Bar; Tub/shower; Cedar closets; Ceiling fans; Traditional floor plan; Pantry; Recessed lighting; Window treatments; Dry wall and paneled walls; Vaulted ceilings; Storm door
• Laundry & utility: Washer and dryer; Laundry in basement; Electric water heater; Humidifier; Exhaust fan

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (37.4% below list).
• Recommended offer: $197k (37.4% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: W. B. Simpson Elementary School (math 25% / reading 44%, grade F, #34 of 105 statewide, top 37%, 571 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 $9k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $197,345 (37.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
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: 0.63% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.81%
• DSCR: 0.83
• GRM: 13.3

CMA / ARV

• ARV (median comp): $351,967
• List price: $315,000
• Delta: -10.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
709 Millet Ln	0.54mi	3/2.0	1,308 (0%)	10mo	$350,000	$268	64
22 Howell St	0.44mi	2/2.0 (-1)	1,224 (-6%)	1mo	$282,500	$231	61
201 Cambridge Rd	0.17mi	3/2.0	1,203 (-8%)	19mo	$255,000	$212	61
19 S Main	0.60mi	2/1.0 (-1)	1,360 (+4%)	5mo	$262,000	$193	54
91 Stevens St	0.47mi	3/1.0	1,116 (-15%)	1mo	$235,000	$211	51
30 Old North	0.50mi	3/2.0	1,259 (-4%)	21mo	$255,000	$203	51
100 N Caesar Rodney Ave	0.69mi	2/1.5 (-1)	1,249 (-4%)	12mo	$287,500	$230	46
127 Chapel Dr	0.20mi	4/2.0 (+1)	1,498 (+14%)	17mo	$329,000	$220	45
1566 John Clark Rd	0.47mi	3/2.0	1,152 (-12%)	15mo	$271,000	$235	44
53 Asbury Ave	0.53mi	3/1.0	1,152 (-12%)	21mo	$210,000	$182	36
310 David Hall Rd	0.62mi	4/1.0 (+1)	1,152 (-12%)	12mo	$265,000	$230	34

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: -22.8%
• Equity multiple: 0.22×
• Total profit: $-69,054
• Equity at exit: $46,968

10-year hold

• IRR: -17.4%
• Equity multiple: 0.05×
• Total profit: $-83,816
• Equity at exit: $27,235

Cash invested: $88,200 (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: 13.3×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$56 /mo · $670/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-280

Break-even live

Break-even rent $2,328

Max offer price $265,538

Occupancy floor —

Sensitivity live

Price	-10% $-102	-5% $-191	+0% $-280	+5% $-369	+10% $-836
Rent	-10% $-436	-5% $-358	+0% $-280	+5% $-202	+10% $-124
Rate	-1.0pp $-121	-0.5pp $-200	base $-280	+0.5pp $-362	+1.0pp $-445

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 E Camden Wyoming Ave Unit A Camden, DE	2.0	2.0	900	$1,350	$1.50	45d	1	0.57mi
300 East St Camden, DE	1.0–3.0	1.0–2.0	1272	$2,695	$2.12	45d	1	0.79mi
4 Carolee Dr Dover, DE	3.0	1.0	1008	$2,100	$2.08	45d	1	0.92mi
104 Southern Blvd Wyoming, DE	3.0	1.0	1656	$2,000	$1.21	45d	1	0.96mi
51 Webbs Ln Dover, DE	2.0	1.0–1.5	787	$1,525	$1.94	45d	11	1.04mi

Listing history 2 events

1. 2026-05-05
   status Pending 2056-char remark
2. 2026-04-27
   listed $315,000 Active 2056-char remark

ⓘ 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: $670 · $56/mo
• Projected year-2 tax: $1,249 · $104/mo
• Expected delta: +$578/yr (+$48/mo · 86.2%)

ⓘ 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 7/10 Severe 78% 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: $23,681
• − Mortgage interest: −$17,645
• − Property taxes: −$670
• − Insurance: −$1,575
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$9,164
• Taxable loss: −$9,162
• Est. tax savings @ 24.0%: +$2,199
• After-tax cash flow: $-1,161/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

+3.5% since first listed

4 events — show timeline

• 2026-06-04 Sold (Public Records) $326,000 Public Records
• 2026-06-01 Sold (MLS) $326,000 BRIGHT MLS
• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-27 Listed $315,000 BRIGHT MLS

Property tax history

+0.7%/yr

Latest (2025): $670 · +0.7% YoY. Source: county tax records.