827 E Division St · Dover, DE 19901

$199,000

2 bd · 1.0 ba · 1,266 sqft · SingleFamily public records · 44 Days on market

Built 1950 10,062 sqft lot $157/sqft · 24% below area Est $268k · 26% 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 +3.8/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/ Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants. Very high lot ensures dry basement!

Key facts

• Hardwood flooring
• Corian countertops
• Dedicated office

Tags

• DEDICATED OFFICE
• HARDWOOD FLOORING
• BUILT-IN SHELVING
• CORIAN COUNTERTOPS
• DRY BASEMENT
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Ownership is fee simple

Exterior

• Parking: Detached garage with rear entry; Driveway parking (total 1 garage/parking space)
• Utilities: Public water; Public sewer; Cable TV available
• Home design: Detached property; Vinyl siding
• Construction: Vinyl siding exterior; Permanent foundation; Above-grade and below-grade structures
• Exterior features: Corner lot; Level lot; Lot dimensions approximately 70.18 x 146.15

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: 3 bedrooms on the main level
• Flooring: Wood flooring; Tile or brick flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Natural gas hot water
• Interior features: Full basement; 6 total rooms (living room, dining room, kitchen, family room, master bedroom, two additional bedrooms)
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $145 ($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 $174k (12.5% below list).
• Recommended offer: $174k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: crime F, commute F, employment D-.
• 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: 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); 184 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 31% 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 $1k of loan paydown is wiped out by about $6k 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 44 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $125k; list at $199k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $174,197 (12.5% below list)

Questions for the listing agent

1. It's been on market 44 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 1950 — 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. 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: 0.88% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (median comp): $268,467
• List price: $199,000
• Delta: -25.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Upland Ave	0.17mi	3/1.0 (+1)	1,188 (-6%)	0mo	$280,000	$236	77
163 Upland Ave	0.31mi	2/1.0	1,266 (0%)	18mo	$250,000	$197	70
71 N Halsey Rd	0.17mi	3/1.0 (+1)	1,344 (+6%)	10mo	$225,000	$167	69
106 Mitscher Rd	0.24mi	3/1.0 (+1)	1,128 (-11%)	7mo	$237,000	$210	60
114 Spruance Rd	0.30mi	3/2.0 (+1)	1,100 (-13%)	3mo	$190,000	$173	53
41 N Edgehill Ave	0.16mi	2/2.0	1,082 (-14%)	15mo	$239,900	$222	52
1401 S Hancock Ave	0.58mi	3/2.0 (+1)	1,344 (+6%)	5mo	$324,900	$242	50
358 Frear Dr	0.56mi	3/1.5 (+1)	1,130 (-11%)	7mo	$297,500	$263	43
422 Court St	0.58mi	3/1.0 (+1)	1,369 (+8%)	13mo	$228,000	$167	43
315 Bluecoat St	0.41mi	3/2.0 (+1)	1,357 (+7%)	20mo	$340,000	$251	43
711 Marta Dr	0.46mi	3/2.0 (+1)	1,374 (+8%)	20mo	$350,000	$255	39
1422 S Hancock Ave	0.71mi	3/2.0 (+1)	1,320 (+4%)	17mo	$315,000	$239	36

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: -12.4%
• Equity multiple: 0.56×
• Total profit: $-24,761
• Equity at exit: $29,672

10-year hold

• IRR: -4.8%
• Equity multiple: 0.70×
• Total profit: $-16,702
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$105 /mo · $1,256/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $145

Break-even live

Break-even rent $1,558

Max offer price $199,000

Occupancy floor 87%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
177 Willis Rd Dover, DE	1.0–2.0	1.0	851	$1,605	$1.88	43d	27	0.43mi
480 Country Dr Dover, DE	3.0	1.0–2.0	715	$1,653	$2.31	43d	22	0.61mi
820 Carvel Dr Dover, DE	1.0–2.0	1.0–1.5	782	$1,435	$1.83	43d	12	0.74mi
201 N American Ave Dover, DE	3.0	2.0	1600	$2,000	$1.25	43d	1	0.79mi
205 Fairfax Ln Dover, DE	3.0	2.5	1428	$1,975	$1.38	43d	1	0.80mi
203 Fairfax Ln Dover, DE	3.0	2.5	1428	$1,975	$1.38	43d	1	0.80mi
5 S State St Dover, DE	1.0	1.5	1100	$1,200	$1.09	43d	1	0.81mi
814 New Castle Ave Dover, DE	3.0	1.0	950	$1,650	$1.74	43d	1	0.84mi
91 Chatham Ct Dover, DE	2.0	2.5	1530	$1,750	$1.14	43d	1	1.03mi
16 S New St #1 Dover, DE	3.0	1.0	1000	$1,950	$1.95	43d	1	1.05mi
100 Isabelle Isle Dover, DE	2.0–3.0	2.0	1273	$1,859	$1.46	43d	9	1.27mi
522 Carol St Dover, DE	3.0	1.5	1722	$1,950	$1.13	43d	1	1.32mi
355A Ridgely St Dover, DE	1.0–3.0	1.0–2.5	1238	$2,210	$1.78	43d	17	1.34mi
46 Lincoln St Dover, DE	2.0	2.0	1073	$1,700	$1.58	43d	1	1.40mi
6000 Winners Cir Dover, DE	2.0	2.0	1269	$1,920	$1.51	43d	10	1.41mi

Listing history 27 events

1. 2026-06-19
   days on market $199,000 Active 44 DOM
2. 2026-06-18
   days on market $199,000 Active 43 DOM
3. 2026-06-17
   days on market $199,000 Active 42 DOM
4. 2026-06-16
   days on market $199,000 Active 41 DOM
5. 2026-06-15
   days on market $199,000 Active 40 DOM
6. 2026-06-14
   days on market $199,000 Active 38 DOM
7. 2026-06-13
   days on market $199,000 Active 37 DOM
8. 2026-06-10
   days on market $199,000 Active 35 DOM
9. 2026-06-09
   days on market $199,000 Active 34 DOM
10. 2026-06-08
    days on market $199,000 Active 33 DOM
11. 2026-06-07
    days on market $199,000 Active 32 DOM
12. 2026-06-02
    days on market $199,000 Active 27 DOM
13. 2026-06-01
    days on market $199,000 Active 26 DOM
14. 2026-05-31
    days on market $199,000 Active 25 DOM
15. 2026-05-30
    days on market $199,000 Active 24 DOM
16. 2026-05-06
    listed $199,000 Active 668-char remark
17. 2015-11-13
    soldstatus $125,000
18. 2015-11-10
    historical 900-char remark

    Show marketing remark (900 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/ Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants. Very high lot ensures dry basement!

19. 2015-09-20
    soldstatus $125,000 900-char remark

    Show marketing remark (897 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants.Very high lot ensures dry basement!

20. 2015-09-20
    soldstatus $125,000 Sold

    Show marketing remark (897 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants.Very high lot ensures dry basement!

21. 2015-07-21
    status Under Contract

    Show marketing remark (897 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants.Very high lot ensures dry basement!

22. 2015-06-16
    price $125,000

    Show marketing remark (897 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants.Very high lot ensures dry basement!

23. 2015-05-12
    listed $132,500 Active

    Show marketing remark (897 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants.Very high lot ensures dry basement!

24. 2015-05-05
    listed $125,000 900-char remark

    Show marketing remark (900 chars)

    This lovely 3BR, (possible 4)1Bath home with an office/study has lots of charm and character. This home features recently updated wood cabinetry in the kitchen, ceiling fan, Corian countertop, gas cooking, dishwasher, refrigerator, and updated faucet. You will love the beautiful hardwood floors throughout the home and the updated bathroom, which includes a new vanity with Corian countertop. The living room and one of the bedrooms have a nook with built-in shelving. This Property offers a partially fenced-in yard, Concrete Basketball Court w/ Goal, Custom stone fireplace/BBQ Grill & A well built, detached garage which is in fantastic condition. Plenty of off-street & on street parking. This property is situated in a lovely neighborhood in central dover. Off the beaten path, Yet close to virtually everything, including shopping, restaurants. Very high lot ensures dry basement!

25. 2014-09-04
    historical
26. 2014-04-23
    listed $139,900
27. 1987-06-01
    soldstatus $55,000

ⓘ 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: $1,256 · $105/mo
• Projected year-2 tax: $1,256 · $105/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,904
• − Mortgage interest: −$11,147
• − Property taxes: −$1,256
• − Insurance: −$995
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$5,789
• Taxable loss: −$1,629
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $2,130/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 — 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
• City population: 76,581
• 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

+261.8% since first listed

12 events — show timeline

• 2026-05-06 Listed $199,000 BRIGHT MLS
• 2015-11-13 Sold (Public Records) $125,000 Public Records
• 2015-11-10 Listing Removed — BRIGHT MLS
• 2015-09-20 Sold (MLS) $125,000 TREND
• 2015-09-20 Sold (MLS) $125,000 BRIGHT MLS
• 2015-07-21 Pending — TREND
• 2015-06-16 Price Changed $125,000 TREND
• 2015-05-12 Listed $132,500 TREND
• 2015-05-05 Listed $125,000 BRIGHT MLS
• 2014-09-04 Listing Removed — BRIGHT MLS
• 2014-04-23 Listed $139,900 BRIGHT MLS
• 1987-06-01 Sold (Public Records) $55,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,256 · +3.5% YoY. Source: county tax records.