234 N Rodney St · Wilmington, DE 19805

$180,000

3 bd · 1.0 ba · 1,375 sqft · Townhouse public records · 21 Days on market

Built 1918 1,307 sqft lot Est $270k · 33% 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +5.6/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 234 N. Rodney St. , Wilmington, DE 19805 — a warm and inviting, fully renovated 3-bedroom, 1.5-bathrooms home truly move-in ready. This beautifully updated property features brand-new stainless steel appliances, including a dishwasher, microwave, refrigerator, and stove, paired perfectly with sleek quartz countertops. Recessed lighting and luxury vinyl flooring flow throughout the home, creating a bright, modern atmosphere. The home offers a stylishly updated bathroom with contemporary tile finishes. A washer and dryer hookup on the main level adds everyday convenience. Outside, enjoy a spacious backyard enclosed by a wood privacy fence, ideal for relaxing, gardening, or ho

Key facts

• Fully renovated
• Recessed lighting
• Built 1918

Tags

• FULLY RENOVATED
• SLEEK QUARTZ COUNTERTOPS
• RECESSED LIGHTING
• LUXURY VINYL FLOORING
• STYLISHLY UPDATED BATHROOM
• CONTEMPORARY TILE FINISHES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Semi-detached property; Flat roof; Fee simple ownership
• Construction: Brick construction; Brick/Mortar foundation; Above-grade and below-grade structures
• Exterior features: Wood fencing; Lot dimensions approximately 17 x 75

Interior

• Kitchen: Microwave; Electric oven/range; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms on the first upper level; Rooms include: Living Room, Dining Room, Master Bedroom, Bedroom 2, Bedroom 1
• Flooring: Ceramic tile
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Hot water heating; Central air conditioning (electric); Electric hot water
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Washer/dryer hookups (basement)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.6% 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.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 38% of the median local income ($60k/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 $5k 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 + 6.3% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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 $36k; list at $180k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — 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: 1.06% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $269,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1213 W 3rd St	0.20mi	3/1.5	1,250 (-9%)	1mo	$215,000	$172	73
1210 Elm St	0.32mi	3/2.0	1,300 (-6%)	1mo	$200,000	$154	71
1911 W 9th St	0.53mi	3/1.0	1,325 (-4%)	1mo	$275,000	$208	69
1715 Sycamore St	0.44mi	3/1.0	1,260 (-8%)	1mo	$241,000	$191	65
1204 W 8th St	0.35mi	3/1.5	1,525 (+11%)	0mo	$355,000	$233	63
1018 Trenton Pl	0.69mi	3/1.5	1,400 (+2%)	1mo	$274,000	$196	62
1301 Lancaster Ave	0.18mi	4/2.0 (+1)	1,200 (-13%)	1mo	$250,000	$208	61
25 6th Ave	0.74mi	3/1.0	1,325 (-4%)	1mo	$115,000	$87	58
400 Geddes St	0.51mi	3/1.5	1,225 (-11%)	0mo	$337,500	$276	56
519 S Jackson St	0.52mi	3/1.0	1,200 (-13%)	1mo	$186,000	$155	54
519 Lafayette Blvd	0.66mi	2/1.5 (-1)	1,250 (-9%)	0mo	$235,000	$188	47
2042 Clark St	0.69mi	3/1.0	1,200 (-13%)	0mo	$335,000	$279	46

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,118
• Equity at exit: $26,839

10-year hold

• IRR: 15.3%
• Equity multiple: 2.41×
• Total profit: $71,247
• Equity at exit: $15,563

Cash invested: $50,400 (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 19805

• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$944
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $451

Break-even live

Break-even rent $1,342

Max offer price $180,000

Occupancy floor 71%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	44d	1	0.03mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	11d	1	0.15mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	44d	1	0.16mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	11d	1	0.19mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	4d	1	0.20mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	4d	1	0.22mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	20d	1	0.31mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	44d	1	0.32mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	0.33mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	4d	1	0.34mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	4d	1	0.37mi
205 Porter St Wilmington, DE	2.0	1.5	1200	$1,700	$1.42	15d	1	0.39mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	44d	1	0.39mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	19d	1	0.41mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	24d	1	0.43mi
1110 Maple St Wilmington, DE	3.0	1.0	1525	$1,600	$1.05	44d	1	0.45mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	5d	1	0.45mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	19d	1	0.46mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	24d	1	0.46mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	44d	1	0.49mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.60mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	44d	1	0.63mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	44d	1	0.63mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	0.64mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	44d	1	0.66mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	17d	1	0.66mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	4d	1	0.66mi
1210 Delaware Ave Unit 3 Wilmington, DE	2.0	1.0	1200	$2,395	$2.00	44d	1	0.71mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	44d	4	0.71mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	13d	4	0.71mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	44d	1	0.72mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	5d	1	0.72mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	44d	1	0.74mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.74mi
1207 Delaware Ave Wilmington, DE	2.0	1.0	1200	$1,700	$1.42	11d	1	0.74mi
1301 N Harrison St Wilmington, DE	1.0–2.0	1.0	1050	$1,850	$1.76	5d	1	0.77mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,749	$1.59	22d	1	0.77mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,590	$1.45	17d	1	0.77mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	44d	1	0.79mi
530 Harlan Blvd #519 Wilmington, DE	2.0	2.0	1192	$2,250	$1.89	24d	1	0.79mi

Listing history 32 events

1. 2026-06-18
   days on market $180,000 Active 21 DOM
2. 2026-06-17
   days on market $180,000 Active 20 DOM
3. 2026-06-16
   days on market $180,000 Active 19 DOM
4. 2026-06-15
   days on market $180,000 Active 18 DOM
5. 2026-06-13
   days on market $180,000 Active 16 DOM
6. 2026-06-13
   days on market $180,000 Active 15 DOM
7. 2026-06-09
   days on market $180,000 Active 12 DOM
8. 2026-06-08
   days on market $180,000 Active 11 DOM
9. 2026-06-07
   days on market $180,000 Active 10 DOM
10. 2026-06-04
    days on market $180,000 Active 7 DOM
11. 2026-06-03
    days on market $180,000 Active 6 DOM
12. 2026-06-02
    days on market $180,000 Active 5 DOM
13. 2026-06-01
    days on market $180,000 Active 4 DOM
14. 2026-05-31
    days on market $180,000 Active 3 DOM
15. 2026-05-28
    listed $180,000 Active
16. 2026-04-07
    historical
17. 2026-02-05
    price $185,000
18. 2026-01-06
    listed $190,000 Active
19. 2025-12-26
    historical Active Under Contract
20. 2025-12-18
    listed $190,000 Active
21. 2009-10-13
    historical
22. 2009-05-13
    listed $49,000
23. 2008-06-04
    historical
24. 2007-12-17
    listed $89,000
25. 2007-11-01
    historical
26. 2007-10-08
    historical
27. 2007-05-31
    listed $92,500
28. 2007-05-31
    listed $92,500
29. 2004-10-20
    soldstatus $36,000
30. 2004-09-30
    historical
31. 2004-09-26
    listed $36,000
32. 1986-04-01
    soldstatus $35,700

ⓘ 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: $499 · $42/mo
• Projected year-2 tax: $772 · $64/mo
• Expected delta: +$272/yr (+$23/mo · 54.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,956
• − Mortgage interest: −$10,083
• − Property taxes: −$499
• − Insurance: −$900
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,236
• Taxable income: $2,564
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $4,793/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 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): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+404.2% since first listed

18 events — show timeline

• 2026-05-28 Listed $180,000 BRIGHT MLS
• 2026-04-07 Listing Removed — BRIGHT MLS
• 2026-02-05 Price Changed $185,000 BRIGHT MLS
• 2026-01-06 Listed $190,000 BRIGHT MLS
• 2025-12-26 Contingent — BRIGHT MLS
• 2025-12-18 Listed $190,000 BRIGHT MLS
• 2009-10-13 Listing Removed — BRIGHT MLS
• 2009-05-13 Listed $49,000 BRIGHT MLS
• 2008-06-04 Listing Removed — BRIGHT MLS
• 2007-12-17 Listed $89,000 BRIGHT MLS
• 2007-11-01 Listing Removed — BRIGHT MLS
• 2007-10-08 Listing Removed — BRIGHT MLS
• 2007-05-31 Listed $92,500 BRIGHT MLS
• 2007-05-31 Listed $92,500 BRIGHT MLS
• 2004-10-20 Sold (MLS) $36,000 BRIGHT MLS
• 2004-09-30 Listing Removed — BRIGHT MLS
• 2004-09-26 Listed $36,000 BRIGHT MLS
• 1986-04-01 Sold (Public Records) $35,700 Public Records

Property tax history

+3.7%/yr

Latest (2024): $499 · +15.1% YoY. Source: county tax records.