537 Weaver Dr #537 · Dover, DE 19901

$139,900

2 bd · 2.0 ba · 1,408 sqft · SingleFamily · 40 Days on market

Built 2005 Average condition $99/sqft · 8% below area Est $151k · 8% under $1/mo HOA

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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 +25.0/30.0
• ARV discount +10.9/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.8/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Sharp and tidy 2 Bedroom / 2 Full bath home in the Senior community of Wild Meadows with attached garage with extra wide driveway space for ample parking for friends and family. Extra room with side entrance for a den, office or craft / hoobies. Lot rent includes freedom from lawn care and full access to community amenities: clubhouse, heated pool, hot tub, fitness center, , bocce, horseshoes, or safe exercise walks around the over 55 neighborhood. Buyer must be approved by Wild Meadows / RHP Landowner.

Key facts

• Garage
• Community pool
• Built 2005

Property features AI

Finance

• Other: Ownership interest: Land lease
• HOA & community: HOA fee $10 annually; Land lease $753.88 monthly (approximately 2 years remaining)

Exterior

• Parking: Attached 1-car garage with side entry and inside access; Driveway; On-street parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Located in a senior community (55+)
• Construction: Block and vinyl siding exterior
• Exterior features: Community pool; Lot dimensions recorded by assessor

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: 90% forced-air heating; Natural gas heating and hot water; Central air conditioning (electric)
• Interior features: No basement; Finished living area per assessor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.0%/yr); 184 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $967 of loan paydown is wiped out by about $4k 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

• It's been on market 40 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.15% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $151,350
• List price: $139,900
• Delta: -7.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Kurt Dr #106	0.12mi	2/2.0	1,408 (0%)	6mo	$120,000	$85	90
549 Weaver Dr #549	0.11mi	2/2.0	1,408 (0%)	8mo	$115,000	$82	88
710 Mcginnis Dr #710	0.06mi	3/2.0 (+1)	1,350 (-4%)	7mo	$125,000	$93	79
311 W Persimmon Cir W #311	0.18mi	2/2.0	1,514 (+8%)	0mo	$138,000	$91	79
914 Jonathan Dr #914	0.13mi	3/2.0 (+1)	1,350 (-4%)	4mo	$169,500	$126	79
222 Persimmon Cir W #222	0.19mi	3/2.0 (+1)	1,408 (0%)	9mo	$131,000	$93	79
425 Moore Pl #425	0.21mi	3/2.0 (+1)	1,296 (-8%)	2mo	$124,000	$96	70
322 Persimmon Cir W #322	0.23mi	3/2.0 (+1)	1,296 (-8%)	3mo	$125,000	$96	68
51 Karen Pl	0.37mi	3/2.0 (+1)	1,344 (-4%)	4mo	$235,000	$175	67
56 Primrose Dr E	0.40mi	3/2.0 (+1)	1,512 (+7%)	1mo	$223,000	$147	64
19 Karen Pl	0.31mi	3/2.0 (+1)	1,248 (-11%)	2mo	$208,000	$167	60
206 Persimmon Cir	0.34mi	3/2.0 (+1)	1,512 (+7%)	10mo	$215,000	$142	58

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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-4,744
• Equity at exit: $20,860

10-year hold

• IRR: 5.3%
• Equity multiple: 1.38×
• Total profit: $14,757
• Equity at exit: $12,096

Cash invested: $39,172 (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 19901

• Rents YoY: 2.0%
• Active inventory: 184
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$1
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $306

Break-even live

Break-even rent $1,225

Max offer price $139,900

Occupancy floor 76%

Sensitivity live

Price	-10% $402	-5% $354	+0% $306	+5% $257	+10% $209
Rent	-10% $178	-5% $242	+0% $306	+5% $369	+10% $433
Rate	-1.0pp $376	-0.5pp $341	base $306	+0.5pp $269	+1.0pp $232

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Persimmon Tree Ln Dover, DE	2.0	2.0	940	$1,477	$1.57	44d	1	0.31mi
6000 Winners Cir Dover, DE	2.0	2.0	1269	$1,920	$1.51	44d	10	1.17mi
820 Carvel Dr Dover, DE	1.0–2.0	1.0–1.5	782	$1,435	$1.83	44d	12	1.23mi
91 Chatham Ct Dover, DE	2.0	2.5	1530	$1,750	$1.14	44d	1	1.31mi
177 Willis Rd Dover, DE	1.0–2.0	1.0	851	$1,605	$1.88	44d	27	1.37mi

HOA detail

• Monthly dues: $1 · $12/yr
• Likely covers: landscapingpoolgym

Listing history 17 events

1. 2026-06-19
   days on market $139,900 Active 40 DOM
2. 2026-06-18
   days on market $139,900 Active 39 DOM
3. 2026-06-17
   days on market $139,900 Active 38 DOM
4. 2026-06-16
   days on market $139,900 Active 37 DOM
5. 2026-06-15
   days on market $139,900 Active 36 DOM
6. 2026-06-14
   days on market $139,900 Active 34 DOM
7. 2026-06-13
   days on market $139,900 Active 33 DOM
8. 2026-06-10
   days on market $139,900 Active 31 DOM
9. 2026-06-09
   days on market $139,900 Active 30 DOM
10. 2026-06-08
    days on market $139,900 Active 29 DOM
11. 2026-06-07
    days on market $139,900 Active 28 DOM
12. 2026-06-02
    days on market $139,900 Active 23 DOM
13. 2026-06-01
    days on market $139,900 Active 22 DOM
14. 2026-05-31
    days on market $139,900 Active 21 DOM
15. 2026-05-30
    days on market $139,900 Active 20 DOM
16. 2026-05-11
    listed $139,900 Active 508-char remark
17. 2026-05-10
    historical $139,900 508-char remark

ⓘ 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: $19,342
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$12
• − Depreciation: −$4,070
• Taxable income: $1,531
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $3,299/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 · 13 photos

Average 55/100 Cosmetic rehab

This home is in average condition with some cosmetic updates needed to improve its curb appeal and interior spaces. The home is move-in ready with a few minor repairs and maintenance items to address.

Repairs flagged

• Minor Kitchen cabinets — Worn and dated appearance.
• Minor Bathtub and sink — Appears functional but dated and in need of cleaning.
• Minor Exterior paint — Siding appears intact but could benefit from a fresh coat of paint.
• Minor Living room carpet — Worn appearance and could be replaced with a more modern option.
• Minor Bedroom carpet — Worn appearance and could be replaced with a more modern option.
• Minor Paint — Paint appears faded in some areas and could be refreshed with a fresh coat.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and home value.
• Both Replace living room carpet — Modern carpet can improve the look and feel of the living space.
• Both Replace bedroom carpet — Modern carpet can improve the look and feel of the bedrooms.
• Both Paint interior walls — Fresh paint can improve the look and feel of the interior spaces.
• Both Replace kitchen cabinets — Modern cabinets can improve the look and feel of the kitchen and increase the home's value.
• Both Replace bathtub and sink — A new, more modern bathtub and sink can improve the look and feel of the bathroom and increase the home's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance.	Minor	$500–3,000
Bathtub and sink · Appears functional but dated and in need of cleaning.	Minor	$500–3,000
Exterior paint · Siding appears intact but could benefit from a fresh coat of paint.	Minor	$500–3,000
Living room carpet · Worn appearance and could be replaced with a more modern option.	Minor	$500–3,000
Bedroom carpet · Worn appearance and could be replaced with a more modern option.	Minor	$500–3,000
Paint · Paint appears faded in some areas and could be refreshed with a fresh coat.	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can improve curb appeal and home value. ↑
• Both Replace living room carpet — Modern carpet can improve the look and feel of the living space. ↑
• Both Replace bedroom carpet — Modern carpet can improve the look and feel of the bedrooms. ↑
• Both Paint interior walls — Fresh paint can improve the look and feel of the interior spaces. ↑
• Both Replace kitchen cabinets — Modern cabinets can improve the look and feel of the kitchen and increase the home's value. ↑
• Both Replace bathtub and sink — A new, more modern bathtub and sink can improve the look and feel of the bathroom and increase the home's value. ↑

ⓘ 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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• Metro: Dover, DE
• Population (ZIP): 37,763
• Household income: $66,388
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1320.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -113.29%
• Current HPI: 199.5132
• Rent YoY: ▲ 2.03%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $139,900 BRIGHT MLS
• 2026-05-10 Coming Soon $139,900 BRIGHT MLS