115 Fifth St #40 · Delaware City, DE 19706

$87,900

3 bd · 2.0 ba · 900 sqft · SingleFamily · 133 Days on market

Built 1978 Good condition $98/sqft · 70% below area ↓ 7% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

Key facts

• Built 1978
• Listed 133 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $88k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#60 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities 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: 16 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

Forward outlook

• In year one you build about $1 of equity ($608 loan paydown + $-607 appreciation (-0.7% local appreciation)).
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.23% ✓
• Cap rate: 19.15%
• Cash-on-cash: 45.93%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

• ARV (median comp): $294,973
• List price: $87,900
• Delta: -70.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 5th St #59	0.08mi	2/1.0 (-1)	900 (0%)	7mo	$11,500	$13	81
510 Hamilton St	0.19mi	2/1.0 (-1)	975 (+8%)	7mo	$175,000	$179	62
139 Warfel Dr	0.31mi	4/2.0 (+1)	1,025 (+14%)	14mo	$345,000	$337	46
307 5th St	0.22mi	2/1.0 (-1)	775 (-14%)	23mo	$202,500	$261	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.3%
• Equity multiple: 3.22×
• Total profit: $54,646
• Equity at exit: $22,530

10-year hold

• IRR: 49.8%
• Equity multiple: 6.42×
• Total profit: $133,417
• Equity at exit: $24,796

Cash invested: $24,612 (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 19706

• Home prices YoY: -0.2%
• Active inventory: 16
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,961 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,318/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $942

Break-even live

Break-even rent $769

Max offer price $87,900

Occupancy floor 47%

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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Warfel Dr Delaware City, DE	3.0	1.0	800	$1,595	$1.99	44d	1	0.14mi
510 Hamilton St Delaware City, DE	3.0	1.0	975	$2,450	$2.51	24d	1	0.20mi

Listing history 18 events

1. 2026-06-18
   days on market $87,900 Active 133 DOM
2. 2026-06-17
   days on market $87,900 Active 132 DOM
3. 2026-06-16
   days on market $87,900 Active 131 DOM
4. 2026-06-15
   days on market $87,900 Active 130 DOM
5. 2026-06-13
   days on market $87,900 Active 128 DOM
6. 2026-06-09
   days on market $87,900 Active 124 DOM
7. 2026-06-08
   days on market $87,900 Active 123 DOM
8. 2026-06-07
   days on market $87,900 Active 122 DOM
9. 2026-06-04
   days on market $87,900 Active 119 DOM
10. 2026-06-03
    days on market $87,900 Active 118 DOM
11. 2026-06-02
    days on market $87,900 Active 117 DOM
12. 2026-06-01
    days on market $87,900 Active 116 DOM
13. 2026-05-31
    days on market $87,900 Active 115 DOM
14. 2026-04-28
    status Active 1509-char remark

    Show marketing remark (1509 chars)

    Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

15. 2026-04-21
    status Pending 1509-char remark

    Show marketing remark (1509 chars)

    Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

16. 2026-04-08
    historical Active Under Contract 1509-char remark

    Show marketing remark (1509 chars)

    Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

17. 2026-04-01
    price $87,900 1509-char remark

    Show marketing remark (1509 chars)

    Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

18. 2026-01-15
    listed $95,000 Active 1509-char remark

    Show marketing remark (1509 chars)

    Manufactured home loans are acceptable but homes not eligible for a mortgage since it is a lot lease and you do not own the land. NEW, NEW, NEW!!!! This mobile home is completely renovated & feels no different than a ranch home! New trex deck with PVC railings lead you to your front door. Enter into the totally open floor plan with luxury plank vinyl flooring, a ceiling fan, & recessed lighting. Huge, GORGEOUS kitchen with white shaker cabinets, stainless appliances, corian counter tops & matching backsplash, deep sink with detachable faucet, oversized island with plenty of counter space & cabinets & creative overhang on all 3 sides so you don't have to eat in a line! Hallway pantry closet & a separate laundry room makes for great extra storage. Main bedroom offers two closets, ceiling fan/light, laminate flooring & its own private full bathroom with a tasteful white vanity, shower stall with glass doors, a pretty mirror & all brush nickel finishes. Down the hall you will find 2 more bedrooms both with closets, laminate flooring & ceiling fan/light. Hall bathroom offers another shower with glass doors, and a large white vanity. This home is renovated from top to bottom! New siding, insulation, drywall, plumbing, exterior skirting, exterior trex deck, all new doors & windows throughout. Metal roof was not replaced, but in great condition. Don't miss out on SIMPLE living!! Just a short walk to the waterfront & library too!

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

Taxation est. · year 1

• Rental income: $23,537
• − Mortgage interest: −$4,924
• − Property taxes: −$1,318
• − Insurance: −$440
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$2,557
• Taxable income: $10,532
• Est. tax owed @ 24.0%: −$2,528
• After-tax cash flow: $8,777/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is a completely renovated mobile home with a new Trex deck and modern finishes, making it move-in ready and suitable for both resale and rental.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both Adding a small outdoor seating area — Can increase both resale and rental value by adding a functional outdoor space.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Adding a small outdoor seating area — Can increase both resale and rental value by adding a functional outdoor space. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Delaware City

• Score: 63/100
• State rank: #60
• US rank: #15979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delaware City, DE
• City population: 2,059
• Population (ZIP): 2,059

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: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 15% Hispanic / Latino 9% Black 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -0.69%
• Current HPI: 306.7702
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.5% since first listed

5 events — show timeline

• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-21 Pending — BRIGHT MLS
• 2026-04-08 Contingent — BRIGHT MLS
• 2026-04-01 Price Changed $87,900 BRIGHT MLS
• 2026-01-15 Listed $95,000 BRIGHT MLS