21 Cedar Crest Ln · Harrington, DE 19952

$165,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 95 Days on market

Built 2004 0.64 ac lot $98/sqft · 48% below area Est $317k · 48% under $3/mo HOA ↓ 3% since listing

---

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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +6.0/10.0
• Appreciation +4.0/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

* * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

Key facts

• Furnace replaced
• Hot water heater
• Largest lots

Tags

• LARGEST LOTS
• MATURE TREES
• FURNACE REPLACED
• HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.9% in Harrington — 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 73/100 on livability (#9 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D+, amenities F.
• Lake Forest School District (rural): math 26% / reading 44% proficiency, ranked #13 of 26 in DE (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 72 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $1k 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 (-2.1% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $65k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% 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 $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% 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. 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. Crime grade is D 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?
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: 1.10% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.01%
• DSCR: 1.53
• GRM: 7.6

CMA / ARV

• ARV (median comp): $316,792
• List price: $165,000
• Delta: -47.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.20×
• Total profit: $9,147
• Equity at exit: $31,526

10-year hold

• IRR: 12.7%
• Equity multiple: 2.11×
• Total profit: $51,371
• Equity at exit: $26,448

Cash invested: $46,200 (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 19952

• Home prices YoY: -0.8%
• Active inventory: 72
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,820 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$69
• HOA: −$3
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $462

Break-even live

Break-even rent $1,235

Max offer price $165,000

Occupancy floor 70%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $3 · $36/yr
• Likely covers: water

Listing history 18 events

1. 2026-05-19
   price $165,000 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

2. 2026-04-01
   price $205,000 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

3. 2026-04-01
   status Active 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

4. 2026-03-31
   historical 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

5. 2026-02-28
   price $215,000 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

6. 2026-02-19
   listed $230,000 Active 509-char remark

   Show marketing remark (509 chars)

   * * INVESTOR ALERT * * Fixer upper available in Pine Ridge - One of the largest lots in the community and surrounded by mature trees! Sellers replaced the furnace in January 2025 and the hot water heater in 2024. The roof is original and will need to be replaced. House needs cleaned out and it needs work therefore only offers that are buying this home AS-IS will be considered. THIRD PARTY PROCESSOR FACILITATING THE SHORT SALE. SEE ATTACHED DISCLOSURES THAT MUST BE SIGNED AND PRESENTED WITH ALL OFFERS.

7. 2019-05-17
   soldstatus $177,000
8. 2019-05-16
   soldstatus $177,000 Closed 1281-char remark

   Show marketing remark (1281 chars)

   This home is in the quite neighborhood of Pine Ridge. If you are looking for a home that is only 30 minutes from the beach then you have found it! What you will find as you walk in the front door will be the formal living room, and a family room that boast a fireplace and dining area with sliding glass doors leading to the deck in the backyard. Sunlight from the skylights makes the kitchen bright and saturated with natural light. Adjacent to the dining area is the kitchen with ample counter top space. The Laundry area is beside the kitchen and has separate access to the back yard with back door entry. The full bathroom is accessible thru the laundry area. The home was upgraded to a brand new A/C unit; this will keep the home at the optimum temperature in the hot summer. Two bedrooms on one end and a large master suite with over-sized 10X9 master bathroom on the other end. This home is on a beautiful corner lot, the driveway is freshly lined with new gravel. New vinyl and black steel fencing was a recent upgrade. This Corner lot gives you lots of room and privacy. When you are sitting in the backyard it feels like you are all alone due to the mature Leyland Cypress trees around the property. Just minutes from Harrington and Milford. Schedule your showing today!!

9. 2019-05-10
   status Pending 1281-char remark

   Show marketing remark (1281 chars)

   This home is in the quite neighborhood of Pine Ridge. If you are looking for a home that is only 30 minutes from the beach then you have found it! What you will find as you walk in the front door will be the formal living room, and a family room that boast a fireplace and dining area with sliding glass doors leading to the deck in the backyard. Sunlight from the skylights makes the kitchen bright and saturated with natural light. Adjacent to the dining area is the kitchen with ample counter top space. The Laundry area is beside the kitchen and has separate access to the back yard with back door entry. The full bathroom is accessible thru the laundry area. The home was upgraded to a brand new A/C unit; this will keep the home at the optimum temperature in the hot summer. Two bedrooms on one end and a large master suite with over-sized 10X9 master bathroom on the other end. This home is on a beautiful corner lot, the driveway is freshly lined with new gravel. New vinyl and black steel fencing was a recent upgrade. This Corner lot gives you lots of room and privacy. When you are sitting in the backyard it feels like you are all alone due to the mature Leyland Cypress trees around the property. Just minutes from Harrington and Milford. Schedule your showing today!!

10. 2019-04-22
    historical Active Under Contract 1281-char remark

    Show marketing remark (1281 chars)

    This home is in the quite neighborhood of Pine Ridge. If you are looking for a home that is only 30 minutes from the beach then you have found it! What you will find as you walk in the front door will be the formal living room, and a family room that boast a fireplace and dining area with sliding glass doors leading to the deck in the backyard. Sunlight from the skylights makes the kitchen bright and saturated with natural light. Adjacent to the dining area is the kitchen with ample counter top space. The Laundry area is beside the kitchen and has separate access to the back yard with back door entry. The full bathroom is accessible thru the laundry area. The home was upgraded to a brand new A/C unit; this will keep the home at the optimum temperature in the hot summer. Two bedrooms on one end and a large master suite with over-sized 10X9 master bathroom on the other end. This home is on a beautiful corner lot, the driveway is freshly lined with new gravel. New vinyl and black steel fencing was a recent upgrade. This Corner lot gives you lots of room and privacy. When you are sitting in the backyard it feels like you are all alone due to the mature Leyland Cypress trees around the property. Just minutes from Harrington and Milford. Schedule your showing today!!

11. 2019-03-29
    status Pending 1281-char remark

    Show marketing remark (1281 chars)

    This home is in the quite neighborhood of Pine Ridge. If you are looking for a home that is only 30 minutes from the beach then you have found it! What you will find as you walk in the front door will be the formal living room, and a family room that boast a fireplace and dining area with sliding glass doors leading to the deck in the backyard. Sunlight from the skylights makes the kitchen bright and saturated with natural light. Adjacent to the dining area is the kitchen with ample counter top space. The Laundry area is beside the kitchen and has separate access to the back yard with back door entry. The full bathroom is accessible thru the laundry area. The home was upgraded to a brand new A/C unit; this will keep the home at the optimum temperature in the hot summer. Two bedrooms on one end and a large master suite with over-sized 10X9 master bathroom on the other end. This home is on a beautiful corner lot, the driveway is freshly lined with new gravel. New vinyl and black steel fencing was a recent upgrade. This Corner lot gives you lots of room and privacy. When you are sitting in the backyard it feels like you are all alone due to the mature Leyland Cypress trees around the property. Just minutes from Harrington and Milford. Schedule your showing today!!

12. 2019-03-02
    listed $182,000 Active 1281-char remark

    Show marketing remark (1281 chars)

    This home is in the quite neighborhood of Pine Ridge. If you are looking for a home that is only 30 minutes from the beach then you have found it! What you will find as you walk in the front door will be the formal living room, and a family room that boast a fireplace and dining area with sliding glass doors leading to the deck in the backyard. Sunlight from the skylights makes the kitchen bright and saturated with natural light. Adjacent to the dining area is the kitchen with ample counter top space. The Laundry area is beside the kitchen and has separate access to the back yard with back door entry. The full bathroom is accessible thru the laundry area. The home was upgraded to a brand new A/C unit; this will keep the home at the optimum temperature in the hot summer. Two bedrooms on one end and a large master suite with over-sized 10X9 master bathroom on the other end. This home is on a beautiful corner lot, the driveway is freshly lined with new gravel. New vinyl and black steel fencing was a recent upgrade. This Corner lot gives you lots of room and privacy. When you are sitting in the backyard it feels like you are all alone due to the mature Leyland Cypress trees around the property. Just minutes from Harrington and Milford. Schedule your showing today!!

13. 2017-09-13
    soldstatus $155,000
14. 2017-09-05
    soldstatus $155,000 Sold
15. 2017-09-05
    soldstatus $155,000
16. 2017-08-12
    status Under Contract
17. 2017-07-31
    listed $170,000 Active
18. 2017-07-24
    listed $170,000

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $710 · $59/mo
• Expected delta: +$247/yr (+$21/mo · 53.4%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,843
• − Mortgage interest: −$9,243
• − Property taxes: −$463
• − Insurance: −$825
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − HOA: −$36
• − Depreciation: −$4,800
• Taxable income: $2,982
• Est. tax owed @ 24.0%: −$716
• After-tax cash flow: $4,833/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: Lake Forest School District
• NCES district ID: 1000790
• Math proficiency: 26% ▼ -23.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $52,034
• Composite: 30.47/100
• National rank: #6225
• State rank: #13 of 26 in DE

Livability — Harrington

• Score: 73/100
• State rank: #9
• US rank: #5270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,730

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: Predominantly White (84%)
• Race & ethnicity: White 84% Black 8% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 2% Romanian 1% Portuguese 1%
• Foreign-born: 3% · Canada, Vietnam, South Korea
• Languages at home: 93% English-only · Spanish 4% Vietnamese 1% German/W. Germanic 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: ▼ -2.07%
• Current HPI: 268.56
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.9% since first listed

18 events — show timeline

• 2026-05-19 Price Changed $165,000 BRIGHT MLS
• 2026-04-01 Price Changed $205,000 BRIGHT MLS
• 2026-04-01 Relisted — BRIGHT MLS
• 2026-03-31 Listing Removed — BRIGHT MLS
• 2026-02-28 Price Changed $215,000 BRIGHT MLS
• 2026-02-19 Listed $230,000 BRIGHT MLS
• 2019-05-17 Sold (Public Records) $177,000 Public Records
• 2019-05-16 Sold (MLS) $177,000 BRIGHT MLS
• 2019-05-10 Pending — BRIGHT MLS
• 2019-04-22 Contingent — BRIGHT MLS
• 2019-03-29 Pending — BRIGHT MLS
• 2019-03-02 Listed $182,000 BRIGHT MLS
• 2017-09-13 Sold (Public Records) $155,000 Public Records
• 2017-09-05 Sold (MLS) $155,000 BRIGHT MLS
• 2017-09-05 Sold (MLS) $155,000 TREND
• 2017-08-12 Pending — TREND
• 2017-07-31 Listed $170,000 TREND
• 2017-07-24 Listed $170,000 BRIGHT MLS

Property tax history

+16.8%/yr

Latest (2025): $463 · +1.2% YoY. Source: county tax records.