127 Pine Cone Dr · Cheswold, DE 19901

$114,000

3 bd · 2.0 ba · 1,176 sqft · Manufactured public records · 59 Days on market

Built 2003 4,792 sqft lot

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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
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to a lovely, well-maintained double-wide. Recent updates in 2024 new kitchen cabinets and appliances, new flooring, new hvac, and remodeled bathrooms. The open floor plan makes this the perfect home for family time and entertaining. This home is conveniently located near Rt 1, Rt 13, Dover AFB, shopping and restaurants, and the beaches are just an hour away. Schedule your appointment today!

Key facts

• Open floor plan
• New hvac
• New flooring

Tags

• NEW KITCHEN CABINETS
• NEW APPLIANCES
• NEW FLOORING
• NEW HVAC
• REMODELED BATHROOMS
• OPEN FLOOR PLAN

Property features AI

Finance

• HOA & community: Land lease community with a monthly land lease of $647 and 99 years remaining

Exterior

• Parking: Off-street paved parking (3 spaces)
• Utilities: Public water; Public sewer; Electric-powered heating, cooling, and hot water
• Home design: Manufactured (double wide); Estimated 2024 major remodel / effective year built
• Construction: Modular/manufactured construction; Asphalt roof; Above-grade and below-grade structures noted
• Exterior features: Paved, off-street parking for 3 vehicles; Not in a federal flood zone; No basement

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate plank flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Heat pump heating; Central air conditioning; Electric hot water
• Interior features: Combination kitchen and living area; Eat-in kitchen
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $114k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 3.1% in Cheswold — 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 (#62 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities 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.
• Zoned schools: North Dover Elementary School (math 12% / reading 27%, grade F, #78 of 105 statewide, top 78%, 315 students, 0% FRL); Central Middle School (math 12% / reading 31%, grade F, #27 of 36 statewide, top 77%, 860 students, 0% FRL); Dover High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,771 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.0%/yr); 190 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 36% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.77% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.84%
• DSCR: 2.55
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 2.21×
• Total profit: $38,555
• Equity at exit: $16,998

10-year hold

• IRR: 36.1%
• Equity multiple: 4.18×
• Total profit: $101,546
• Equity at exit: $9,857

Cash invested: $31,920 (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 19901

• Rents YoY: 2.0%
• Active inventory: 190
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,018 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$22 /mo · $268/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $927

Break-even live

Break-even rent $845

Max offer price $114,000

Occupancy floor 49%

Sensitivity live

Price	-10% $991	-5% $959	+0% $927	+5% $894	+10% $862
Rent	-10% $767	-5% $847	+0% $927	+5% $1,006	+10% $1,086
Rate	-1.0pp $984	-0.5pp $956	base $927	+0.5pp $897	+1.0pp $867

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-01
   status $114,000 Pending 59 DOM
2. 2026-04-27
   historical Active Under Contract
3. 2026-04-24
   price $114,000
4. 2026-03-18
   price $115,000
5. 2026-02-27
   listed $125,000 Active
6. 2008-07-15
   historical
7. 2008-05-29
   listed $44,450
8. 2008-05-29
   historical
9. 2007-08-10
   listed $44,750

ⓘ 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: $268 · $22/mo
• Projected year-2 tax: $465 · $39/mo
• Expected delta: +$197/yr (+$16/mo · 73.4%)

ⓘ 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 74% 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: $24,218
• − Mortgage interest: −$6,386
• − Property taxes: −$268
• − Insurance: −$570
• − Repairs & maintenance: −$1,937
• − Management: −$1,937
• − Depreciation: −$3,316
• Taxable income: $9,803
• Est. tax owed @ 24.0%: −$2,353
• After-tax cash flow: $8,768/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: 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 — Cheswold

• Score: 62/100
• State rank: #62
• US rank: #16254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 82,184 people
• City population: 176
• 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

+154.7% since first listed

8 events — show timeline

• 2026-04-27 Contingent — BRIGHT MLS
• 2026-04-24 Price Changed $114,000 BRIGHT MLS
• 2026-03-18 Price Changed $115,000 BRIGHT MLS
• 2026-02-27 Listed $125,000 BRIGHT MLS
• 2008-07-15 Listing Removed — BRIGHT MLS
• 2008-05-29 Listing Removed — BRIGHT MLS
• 2008-05-29 Listed $44,450 BRIGHT MLS
• 2007-08-10 Listed $44,750 BRIGHT MLS

Property tax history

-1.5%/yr

Latest (2025): $268 · +0.8% YoY. Source: county tax records.