32503 W Haven Wood Dr · Frankford, DE 19945

$565,000

4 bd · 3.0 ba · 1,172 sqft · SingleFamily public records · 74 Days on market

Built 2018 8,712 sqft lot $482/sqft · 108% above area Est $590k · at est. $96/mo HOA · 5% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.6/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 2½-bath home tucked on a wooded cul-de-sac, offering the largest floor plan on a premium lot at exceptional value. The first floor features luxury vinyl plank flooring and hardwood stairs leading to the bedrooms, while the great room centers around a cozy gas/propane fireplace. Enjoy morning coffee or evening relaxation in the enclosed patio, and take advantage of a large, fully fenced yard with a generous shed for storage and privacy. Additional conveniences include a central vacuum system and whole-house water purifier, and the community offers two pools with a very low HOA fee.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $565k.

Deal economics

• At list price, monthly cash flow is $-2k ($-29k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (62.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (64.7% below list).
• Recommended offer: $200k (64.7% below list) — sets the bar for 1% rule.
• Cap rate 1.1% vs local median 1.9% in Frankford — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 63/100 on livability (#58 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Showell (Phillip C.) Elementary School (math 27% / reading 37%, grade F, #44 of 105 statewide, top 46%, 279 students, 0% FRL); Selbyville Middle School (math 20% / reading 49%, grade F, #12 of 36 statewide, top 34%, 719 students, 0% FRL); Indian River High School (math 32% / reading 52%, grade F, #10 of 40 statewide, top 26%, 1,088 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 285 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $60k of equity ($4k loan paydown + $56k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$97k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($531k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,500 (64.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 65% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.35% ✗
• Cap rate: 1.14%
• Cash-on-cash: -18.39%
• DSCR: 0.18
• GRM: 23.6

CMA / ARV

• ARV (median comp): $589,737
• List price: $565,000
• Delta: -4.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24118 Heartleaf Rd	0.62mi	3/2.0 (-1)	1,152 (-2%)	24mo	$194,000	$168	39
37132 E White Tail Dr	0.69mi	3/2.0 (-1)	1,202 (+3%)	20mo	$305,000	$254	38
33855 Palomino	0.73mi	3/2.0 (-1)	1,344 (+15%)	21mo	$306,000	$228	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.97×
• Total profit: $153,383
• Equity at exit: $508,997

10-year hold

• IRR: 12.4%
• Equity multiple: 4.62×
• Total profit: $573,300
• Equity at exit: $1,097,671

Cash invested: $158,200 (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 19945

• Home prices YoY: 16.9%
• Active inventory: 285
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$2,963
• Tax est. 1.5%: −$706 /mo · $8,475/yr
• Insurance: −$235
• HOA: −$96
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-2,425

Break-even live

Break-even rent $5,064

Max offer price $214,166

Occupancy floor —

Sensitivity live

Price	-10% $-2,034	-5% $-2,229	+0% $-2,425	+5% $-2,620	+10% $-2,815
Rent	-10% $-2,582	-5% $-2,503	+0% $-2,425	+5% $-2,346	+10% $-2,267
Rate	-1.0pp $-2,140	-0.5pp $-2,281	base $-2,425	+0.5pp $-2,571	+1.0pp $-2,720

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25100 Ashton Cir Frankford, DE	1.0–3.0	1.0–2.0	1054	$1,995	$1.89	15d	1	0.55mi

HOA detail

• Monthly dues: $96 · $1,152/yr
• Likely covers: watergaspool

Listing history 22 events

1. 2026-06-21
   days on market $565,000 Active 74 DOM
2. 2026-06-18
   days on market $565,000 Active 71 DOM
3. 2026-06-17
   days on market $565,000 Active 70 DOM
4. 2026-06-16
   days on market $565,000 Active 69 DOM
5. 2026-06-15
   days on market $565,000 Active 68 DOM
6. 2026-06-14
   days on market $565,000 Active 66 DOM
7. 2026-06-13
   days on market $565,000 Active 65 DOM
8. 2026-06-10
   days on market $565,000 Active 63 DOM
9. 2026-06-09
   days on market $565,000 Active 62 DOM
10. 2026-06-08
    days on market $565,000 Active 61 DOM
11. 2026-06-07
    days on market $565,000 Active 60 DOM
12. 2026-06-02
    days on market $565,000 Active 55 DOM
13. 2026-06-01
    days on market $565,000 Active 54 DOM
14. 2026-05-31
    days on market $565,000 Active 53 DOM
15. 2026-05-30
    days on market $565,000 Active 52 DOM
16. 2026-04-08
    listed $572,500 Active 614-char remark

    Show marketing remark (614 chars)

    Spacious 4-bedroom, 2½-bath home tucked on a wooded cul-de-sac, offering the largest floor plan on a premium lot at exceptional value. The first floor features luxury vinyl plank flooring and hardwood stairs leading to the bedrooms, while the great room centers around a cozy gas/propane fireplace. Enjoy morning coffee or evening relaxation in the enclosed patio, and take advantage of a large, fully fenced yard with a generous shed for storage and privacy. Additional conveniences include a central vacuum system and whole-house water purifier, and the community offers two pools with a very low HOA fee.

17. 2026-04-03
    historical $572,500 614-char remark

    Show marketing remark (614 chars)

    Spacious 4-bedroom, 2½-bath home tucked on a wooded cul-de-sac, offering the largest floor plan on a premium lot at exceptional value. The first floor features luxury vinyl plank flooring and hardwood stairs leading to the bedrooms, while the great room centers around a cozy gas/propane fireplace. Enjoy morning coffee or evening relaxation in the enclosed patio, and take advantage of a large, fully fenced yard with a generous shed for storage and privacy. Additional conveniences include a central vacuum system and whole-house water purifier, and the community offers two pools with a very low HOA fee.

18. 2026-04-01
    historical
19. 2026-01-11
    listed $599,900 Active
20. 2025-12-30
    historical
21. 2018-03-05
    historical
22. 2017-12-04
    listed $269,990

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,940
• − Mortgage interest: −$31,649
• − Property taxes: −$8,475
• − Insurance: −$2,825
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − HOA: −$1,152
• − Depreciation: −$16,436
• Taxable loss: −$40,428
• Est. tax savings @ 24.0%: +$9,703
• After-tax cash flow: $-19,392/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: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

Livability — Frankford

• Score: 63/100
• State rank: #58
• US rank: #15562

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,917

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 12% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.51%
• Current HPI: 322.2407
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+112.0% since first listed

7 events — show timeline

• 2026-04-08 Listed $572,500 BRIGHT MLS
• 2026-04-03 Coming Soon $572,500 BRIGHT MLS
• 2026-04-01 Listing Removed — BRIGHT MLS
• 2026-01-11 Listed $599,900 BRIGHT MLS
• 2025-12-30 Coming Soon — BRIGHT MLS
• 2018-03-05 Listing Removed — BRIGHT MLS
• 2017-12-04 Listed $269,990 BRIGHT MLS

Property tax history

+27.7%/yr

Latest (2025): $767 · -10.0% YoY. Source: county tax records.