159 Pine Cone Dr #159 · Cheswold, DE 19901

$82,900

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 62 Days on market

Built 2001 Fair condition $62/sqft · 14% below area Est $97k · 14% under ↓ 6% 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
• ARV discount +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The price is nice! Three bedroom, two bathroom doublewide in Pinewood Acres. Some features include eat in kitchen, split floor plan, shed to convey, two driveway spaces, front deck, and so much more. Large bedrooms and closets throughout. Some furniture will convey with the home unless the buyer chooses furniture to be removed. Buyer must be approved through the park at Pinewood Acres.

Key facts

• Front deck
• Eat in kitchen
• Split floor plan

Tags

• EAT IN KITCHEN
• SPLIT FLOOR PLAN
• SHED TO CONVEY
• TWO DRIVEWAY SPACES
• FRONT DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $83k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $83k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.6% 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); 186 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% 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 $573 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (8%) 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 $77,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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: 2.49% ✓
• Cap rate: 21.64%
• Cash-on-cash: 54.82%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (median comp): $96,883
• List price: $82,900
• Delta: -14.43%
• 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
345 Norway Dr #345	0.19mi	3/2.0	1,216 (-10%)	3mo	$86,500	$71	73
53 New St	0.41mi	3/1.5	1,356 (+1%)	6mo	$80,000	$59	72
310 Main St	0.44mi	3/2.0	1,344 (0%)	9mo	$299,000	$222	72
174 Humpsman Dr #150	0.30mi	3/2.0	1,216 (-10%)	6mo	$85,000	$70	66
185 Winding Carriage Ln	0.46mi	2/2.0 (-1)	1,314 (-2%)	9mo	$339,000	$258	63
248 Fulton St	0.26mi	3/2.0	1,456 (+8%)	16mo	$239,000	$164	61
122 Casselberry Ln	0.56mi	2/2.0 (-1)	1,379 (+3%)	5mo	$320,000	$232	61
84 Union St	0.40mi	3/2.0	1,296 (-4%)	18mo	$270,000	$208	60
14 Foxhound Ct #228	0.49mi	3/2.0	1,400 (+4%)	12mo	$98,500	$70	60
178 Main St	0.45mi	3/2.0	1,248 (-7%)	18mo	$285,000	$228	52
28 Strimel Dr #20	0.45mi	3/2.0	1,456 (+8%)	18mo	$58,000	$40	50
11 Fairmont Ln	0.52mi	2/2.0 (-1)	1,266 (-6%)	13mo	$325,000	$257	50

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: 52.0%
• Equity multiple: 3.25×
• Total profit: $52,135
• Equity at exit: $12,361

10-year hold

• IRR: 56.9%
• Equity multiple: 6.36×
• Total profit: $124,445
• Equity at exit: $7,168

Cash invested: $23,212 (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: 186
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,067 medium
• Mortgage (P&I): −$435
• Tax est. 1.5%: −$104 /mo · $1,244/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $1,060

Break-even live

Break-even rent $725

Max offer price $82,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,118	-5% $1,089	+0% $1,060	+5% $1,032	+10% $1,003
Rent	-10% $897	-5% $979	+0% $1,060	+5% $1,142	+10% $1,224
Rate	-1.0pp $1,102	-0.5pp $1,081	base $1,060	+0.5pp $1,039	+1.0pp $1,017

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   statusdays on market $82,900 Pending 62 DOM
2. 2026-06-02
   days on market $82,900 Active 60 DOM
3. 2026-06-01
   days on market $82,900 Active 59 DOM
4. 2026-05-31
   days on market $82,900 Active 58 DOM
5. 2026-05-30
   days on market $82,900 Active 57 DOM
6. 2026-04-29
   price $84,900 389-char remark

   Show marketing remark (389 chars)

   The price is nice! Three bedroom, two bathroom doublewide in Pinewood Acres. Some features include eat in kitchen, split floor plan, shed to convey, two driveway spaces, front deck, and so much more. Large bedrooms and closets throughout. Some furniture will convey with the home unless the buyer chooses furniture to be removed. Buyer must be approved through the park at Pinewood Acres.

7. 2026-04-09
   status Active 389-char remark

   Show marketing remark (389 chars)

   The price is nice! Three bedroom, two bathroom doublewide in Pinewood Acres. Some features include eat in kitchen, split floor plan, shed to convey, two driveway spaces, front deck, and so much more. Large bedrooms and closets throughout. Some furniture will convey with the home unless the buyer chooses furniture to be removed. Buyer must be approved through the park at Pinewood Acres.

8. 2026-04-04
   status Pending 389-char remark

   Show marketing remark (389 chars)

   The price is nice! Three bedroom, two bathroom doublewide in Pinewood Acres. Some features include eat in kitchen, split floor plan, shed to convey, two driveway spaces, front deck, and so much more. Large bedrooms and closets throughout. Some furniture will convey with the home unless the buyer chooses furniture to be removed. Buyer must be approved through the park at Pinewood Acres.

9. 2026-03-28
   listed $89,900 Active 389-char remark

   Show marketing remark (389 chars)

   The price is nice! Three bedroom, two bathroom doublewide in Pinewood Acres. Some features include eat in kitchen, split floor plan, shed to convey, two driveway spaces, front deck, and so much more. Large bedrooms and closets throughout. Some furniture will convey with the home unless the buyer chooses furniture to be removed. Buyer must be approved through the park at Pinewood Acres.

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

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: $24,809
• − Mortgage interest: −$4,644
• − Property taxes: −$1,244
• − Insurance: −$414
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$2,412
• Taxable income: $12,126
• Est. tax owed @ 24.0%: −$2,910
• After-tax cash flow: $9,814/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

Fair 45/100 Moderate rehab

This home requires significant updates to its exterior, interior, and landscaping to improve its condition and value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Carpeted flooring — Worn and in need of replacement
• Major Kitchen cabinets and appliances — Dated and in need of replacement
• Major Bathroom fixtures and tile — Dated and in need of replacement
• Major Paint — Faded and chipped, needs repainting

Value-add opportunities

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics
• Both New flooring — New flooring can improve the living areas and add value
• Both New kitchen cabinets and appliances — Modern kitchen can attract more buyers and renters
• Both New bathroom fixtures and tile — Modern bathrooms can attract more buyers and renters
• Both Landscaping — Well-maintained landscaping can improve curb appeal and attract more buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Carpeted flooring · Worn and in need of replacement	Major	$15,000–50,000
Kitchen cabinets and appliances · Dated and in need of replacement	Major	$15,000–50,000
Bathroom fixtures and tile · Dated and in need of replacement	Major	$15,000–50,000
Paint · Faded and chipped, needs repainting	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both New flooring — New flooring can improve the living areas and add value ↑
• Both New kitchen cabinets and appliances — Modern kitchen can attract more buyers and renters ↑
• Both New bathroom fixtures and tile — Modern bathrooms can attract more buyers and renters ↑
• Both Landscaping — Well-maintained landscaping can improve curb appeal and attract more buyers ↑

ⓘ 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 — 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

-5.6% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $84,900 BRIGHT MLS
• 2026-04-09 Relisted — BRIGHT MLS
• 2026-04-04 Pending — BRIGHT MLS
• 2026-03-28 Listed $89,900 BRIGHT MLS