726 N Madison St · Wilmington, DE 19801

$150,000

4 bd · 1.0 ba · 1,300 sqft · Townhouse public records · 17 Days on market

Built 1900 Est $202k · 26% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 726 N. Madison Street, a spacious brick townhome offering over 1,500 square feet of living space in the heart of Wilmington. Combining classic city charm with generous room sizes, this four-bedroom home presents an exceptional opportunity for both homeowners and investors. Inside, you'll find a flexible floor plan featuring large living spaces, abundant natural light, and plenty of room to customize and make your own. The end-unit location provides additional windows and enhanced privacy, while the home's classic brick exterior offers timeless curb appeal. Conveniently located just minutes from downtown Wilmington, major employers, dining, shopping, parks, and I-95, this property

Key facts

• Built 1900

Property features AI

Exterior

• Home design: Single family home; 3 total floors

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 bathroom
• Interior features: Total living area approximately 1,566

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.7% in Wilmington — 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 (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, schools D, commute D.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $2,044/mo this rent would consume 46% of the median local household income ($53k/yr) (locally 919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.36% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $201,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 N Tatnall St	0.41mi	3/1.0 (-1)	1,275 (-2%)	0mo	$165,000	$129	72
236 N Monroe St	0.29mi	3/1.5 (-1)	1,250 (-4%)	1mo	$180,000	$144	72
1018 Trenton Pl	0.24mi	3/1.5 (-1)	1,400 (+8%)	1mo	$274,000	$196	68
1213 W 3rd St	0.45mi	3/1.5 (-1)	1,250 (-4%)	1mo	$215,000	$172	65
1210 Elm St	0.65mi	3/2.0 (-1)	1,300 (0%)	1mo	$200,000	$154	60
1610 W 10th St	0.70mi	3/1.5 (-1)	1,300 (0%)	2mo	$335,000	$258	59
501 E 5th St	0.71mi	4/2.5	1,325 (+2%)	0mo	$236,000	$178	57
1301 Lancaster Ave	0.58mi	4/2.0	1,200 (-8%)	1mo	$250,000	$208	56
519 S Jackson St	0.71mi	3/1.0 (-1)	1,200 (-8%)	1mo	$186,000	$155	48
302 S Franklin St	0.67mi	3/1.0 (-1)	1,150 (-12%)	1mo	$117,000	$102	44
315 S Jackson St	0.60mi	3/1.5 (-1)	1,475 (+14%)	1mo	$180,000	$122	42
834 N Pine St	0.75mi	3/1.5 (-1)	1,150 (-12%)	0mo	$150,000	$130	38

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $9,690
• Equity at exit: $22,365

10-year hold

• IRR: 14.1%
• Equity multiple: 2.06×
• Total profit: $44,575
• Equity at exit: $12,969

Cash invested: $42,000 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $578

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 67%

Sensitivity live

Price	-10% $682	-5% $630	+0% $578	+5% $526	+10% $475
Rent	-10% $417	-5% $497	+0% $578	+5% $659	+10% $740
Rate	-1.0pp $654	-0.5pp $616	base $578	+0.5pp $539	+1.0pp $500

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	0.12mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	45d	1	0.15mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	18d	1	0.21mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	14d	1	0.24mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	0d	115	0.26mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	45d	1	0.45mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,795	$1.20	0d	1	0.46mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	25d	1	0.50mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	20d	1	0.51mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	45d	1	0.52mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	12d	1	0.60mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	45d	1	0.66mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	5d	1	0.70mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	5d	1	0.71mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	20d	1	0.73mi
1110 Maple St Wilmington, DE	3.0	1.0	1525	$1,600	$1.05	45d	1	0.75mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	25d	1	0.75mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	45d	1	0.77mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	18d	1	0.78mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	12d	1	0.79mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	45d	1	0.81mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	20d	1	0.82mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	0d	1	0.86mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	45d	1	0.94mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	5d	1	0.94mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	6d	1	0.98mi
1913 W 2nd St Unit 1913 Wilmington, DE	5.0	1.5	1675	$2,050	$1.22	45d	1	0.98mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	45d	1	1.00mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	45d	1	1.02mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	25d	1	1.07mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	1.07mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	16d	1	1.08mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	45d	1	1.08mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	45d	1	1.09mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	0d	1	1.11mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	45d	1	1.11mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	45d	1	1.16mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	6d	1	1.20mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,850	$1.28	0d	1	1.21mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	25d	1	1.25mi

Listing history 11 events

1. 2026-06-21
   days on market $150,000 Coming Soon 17 DOM
2. 2026-06-18
   days on market $150,000 Coming Soon 14 DOM
3. 2026-06-17
   days on market $150,000 Coming Soon 13 DOM
4. 2026-06-16
   days on market $150,000 Coming Soon 12 DOM
5. 2026-06-15
   days on market $150,000 Coming Soon 11 DOM
6. 2026-06-13
   days on market $150,000 Coming Soon 9 DOM
7. 2026-06-13
   days on market $150,000 Coming Soon 8 DOM
8. 2026-06-09
   days on market $150,000 Coming Soon 5 DOM
9. 2026-06-08
   days on market $150,000 Coming Soon 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $150,000 Coming Soon 3 DOM

ⓘ 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: $24,529
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$4,364
• Taxable income: $4,838
• Est. tax owed @ 24.0%: −$1,161
• After-tax cash flow: $5,777/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.

Schools (NCES district)

• District: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 of 26 in DE

Livability — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0