1616 5th St · Wilmington, DE 19805

$185,000

3 bd · 1.0 ba · 950 sqft · Townhouse public records · 48 Days on market

Built 1890 900 sqft lot $195/sqft · 6% above area Est $160k · 16% over

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Why this score? — see what drove the C- 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 +24.8/30.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold befroe processing

Key facts

• Built 1890
• Listed 47 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Pitched roof
• Construction: Brick construction; Block foundation; Above-grade other structures
• Exterior features: 12 x 75 lot dimensions (estimated); Not in a federal flood zone; Municipal trash service

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Central heating with forced air; Natural gas heating; Ceiling fan cooling (electric)
• Interior features: Not furnished; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 19d 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 $6k 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 $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $185k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.02% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

• ARV (median comp): $159,988
• List price: $185,000
• Delta: 15.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1409 W 4th St	0.18mi	3/1.0	975 (+3%)	5mo	$140,000	$144	83
506 Delamore Pl	0.11mi	3/1.0	1,050 (+10%)	2mo	$140,000	$133	75
1317 Chestnut St	0.41mi	2/1.5 (-1)	950 (0%)	5mo	$85,000	$89	70
117 N Dupont St	0.21mi	2/1.0 (-1)	875 (-8%)	5mo	$138,000	$158	68
506 Rodman St	0.50mi	2/1.0 (-1)	984 (+4%)	1mo	$229,900	$234	65
461 S Sycamore St	0.63mi	3/1.0	1,000 (+5%)	1mo	$250,000	$250	61
1232 Chestnut St	0.45mi	3/1.0	1,050 (+10%)	3mo	$109,500	$104	59
227 S Union St	0.44mi	3/1.0	1,075 (+13%)	1mo	$180,000	$167	57
1306 W 13th St #1	0.60mi	2/1.0 (-1)	871 (-8%)	5mo	$175,000	$201	49
1504 N Broom St #11	0.74mi	2/1.0 (-1)	886 (-7%)	5mo	$195,000	$220	45
600 N Ford Ave #103	0.73mi	2/2.0 (-1)	855 (-10%)	4mo	$238,500	$279	37
1120 Beech St	0.70mi	2/1.0 (-1)	825 (-13%)	6mo	$112,500	$136	36

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,545
• Equity at exit: $27,584

10-year hold

• IRR: 13.2%
• Equity multiple: 2.20×
• Total profit: $62,104
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$970
• Tax from tax record: −$48 /mo · $574/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $393

Break-even live

Break-even rent $1,386

Max offer price $185,000

Occupancy floor 74%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	4d	1	0.16mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	3d	1	0.27mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	21d	1	0.31mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	18d	1	0.44mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	24d	1	0.47mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	20d	1	0.48mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	3d	1	0.50mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	24d	1	0.54mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	0.62mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	43d	4	0.70mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	12d	4	0.70mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,749	$1.59	21d	1	0.71mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,590	$1.45	16d	1	0.71mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.74mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	43d	1	0.76mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	43d	1	0.76mi
1301 N Harrison St Wilmington, DE	1.0–2.0	1.0	1050	$1,850	$1.76	5d	1	0.77mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	0.80mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	43d	1	0.81mi
1610 N Broom St Unit 2 Wilmington, DE	2.0	1.0	1000	$2,150	$2.15	43d	1	0.82mi
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	3d	1	0.84mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.92mi
201 New Rd Wilmington, DE	2.0	1.0	800	$1,350	$1.69	2d	1	0.94mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	43d	1	0.95mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.97mi
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	43d	1	0.98mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	0.99mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	1.00mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	43d	1	1.01mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	1.01mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	1d	16	1.05mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	1.08mi
1507 Coleman St Wilmington, DE	2.0	1.0	650	$1,495	$2.30	24d	1	1.09mi
2700 Boulevard Rd Wilmington, DE	1.0–2.0	1.0	743	$1,525	$2.05	2d	8	1.10mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	1.11mi
2010 Woodlawn Ave Unit 1 Wilmington, DE	2.0	1.0	1100	$2,090	$1.90	43d	1	1.12mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	10d	1	1.17mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	16d	1	1.17mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	1d	13	1.18mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	43d	1	1.28mi

Listing history 24 events

1. 2026-06-18
   days on market $185,000 Active 48 DOM
2. 2026-06-17
   days on market $185,000 Active 47 DOM
3. 2026-06-16
   days on market $185,000 Active 46 DOM
4. 2026-06-15
   days on market $185,000 Active 45 DOM
5. 2026-06-13
   days on market $185,000 Active 43 DOM
6. 2026-06-13
   days on market $185,000 Active 42 DOM
7. 2026-06-09
   days on market $185,000 Active 39 DOM
8. 2026-06-08
   days on market $185,000 Active 38 DOM
9. 2026-06-07
   days on market $185,000 Active 37 DOM
10. 2026-06-04
    days on market $185,000 Active 34 DOM
11. 2026-06-03
    days on market $185,000 Active 33 DOM
12. 2026-06-02
    days on market $185,000 Active 32 DOM
13. 2026-06-01
    days on market $185,000 Active 31 DOM
14. 2026-05-31
    days on market $185,000 Active 30 DOM
15. 2026-05-02
    listed $195,000 Active 1362-char remark
16. 2026-05-01
    historical $195,000 1362-char remark
17. 2004-09-28
    soldstatus $60,000
18. 2004-09-27
    soldstatus $60,000 22-char remark

    Show marketing remark (22 chars)

    Sold befroe processing

19. 2004-08-27
    listed $60,000 22-char remark

    Show marketing remark (22 chars)

    Sold befroe processing

20. 2004-08-27
    historical 22-char remark

    Show marketing remark (22 chars)

    Sold befroe processing

21. 2002-07-02
    soldstatus $49,000

    Show marketing remark (409 chars)

    Nice inter-city first-time homebuyer value or investment property, within walking distance to St. Francis Hospital. Freshly painted front exterior. New kitchen and bathroom tile floors. New stove. W/ W carpet has been recently shampooed and walls touched up with paint. FHA financing with 1 Year ARM, including taxes & insurance - $366/mo. Conventional financing - $306/mo. Could rent for $650 easily!!!

22. 2002-05-22
    listed $49,000

    Show marketing remark (409 chars)

    Nice inter-city first-time homebuyer value or investment property, within walking distance to St. Francis Hospital. Freshly painted front exterior. New kitchen and bathroom tile floors. New stove. W/ W carpet has been recently shampooed and walls touched up with paint. FHA financing with 1 Year ARM, including taxes & insurance - $366/mo. Conventional financing - $306/mo. Could rent for $650 easily!!!

23. 1995-02-28
    soldstatus $20,000
24. 1994-10-26
    listed $20,000

ⓘ 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: $574 · $48/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$249/yr (+$21/mo · 43.4%)

ⓘ 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 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: $22,607
• − Mortgage interest: −$10,363
• − Property taxes: −$574
• − Insurance: −$925
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$5,382
• Taxable income: $1,746
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $4,299/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

+825.0% since first listed

11 events — show timeline

• 2026-05-26 Price Changed $185,000 BRIGHT MLS
• 2026-05-02 Listed $195,000 BRIGHT MLS
• 2026-05-01 Coming Soon $195,000 BRIGHT MLS
• 2004-09-28 Sold (Public Records) $60,000 Public Records
• 2004-09-27 Sold (MLS) $60,000 BRIGHT MLS
• 2004-08-27 Listing Removed — BRIGHT MLS
• 2004-08-27 Listed $60,000 BRIGHT MLS
• 2002-07-02 Sold (MLS) $49,000 BRIGHT MLS
• 2002-05-22 Listed $49,000 BRIGHT MLS
• 1995-02-28 Sold (MLS) $20,000 BRIGHT MLS
• 1994-10-26 Listed $20,000 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2024): $574 · +15.1% YoY. Source: county tax records.