2220 N Tatnall St · Wilmington, DE 19802

$150,000

3 bd · 1.0 ba · 1,300 sqft · Townhouse public records · 1 Days on market

Built 1920 1,307 sqft lot Est $217k · 31% 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 1920's home is situated in the heart of Wilmington. It includes a fenced in back-yard and full basement.

Key facts

• Workshop area
• Fenced in backyard
• Full basement

Tags

• INTERIOR BRICK TOWNHOME
• FENCED IN BACKYARD
• GAS STAINLESS STEEL RANGE
• FULL BASEMENT
• HOME GYM
• WORKSHOP AREA

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water; Electric cooling
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Concrete perimeter foundation; Above-grade and below-grade structures; Finished above-grade area (per assessor)
• Exterior features: 16 x 85 lot dimensions; No tidal water

Interior

• Bedrooms: Four bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating; Central air conditioning (electric)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.2% 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 (+5.7%/yr); 119 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% of the median local income ($54k/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 $4k 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 + 5.7% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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 $67k; list at $150k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $150,000

Questions for the listing agent

1. Built in 1920 — 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: 1.18% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.90%
• DSCR: 1.62
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $217,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 Lamotte St	0.21mi	3/1.0	1,275 (-2%)	0mo	$125,000	$98	87
212 W 25th St	0.18mi	3/1.0	1,225 (-6%)	1mo	$80,000	$65	81
2011 N West St	0.15mi	4/1.0 (+1)	1,375 (+6%)	1mo	$135,000	$98	78
2009 N Tatnall St	0.12mi	3/1.0	1,475 (+14%)	1mo	$170,000	$115	72
1212 N Tatnall St	0.58mi	3/1.0	1,275 (-2%)	0mo	$165,000	$129	70
305 W 21st St	0.21mi	3/1.5	1,450 (+12%)	1mo	$290,000	$200	68
2708 Thompson Pl	0.35mi	3/1.0	1,175 (-10%)	1mo	$215,000	$183	67
1313 N Walnut St	0.47mi	2/1.0 (-1)	1,350 (+4%)	0mo	$155,000	$115	66
623 W Twenty Eighth St	0.55mi	3/1.5	1,250 (-4%)	0mo	$235,000	$188	65
709 E 26th St	0.46mi	3/2.5	1,375 (+6%)	0mo	$230,000	$167	62
222 E 30th St	0.54mi	3/2.0	1,400 (+8%)	1mo	$280,000	$200	57
24 W 30th St	0.45mi	3/2.0	1,478 (+14%)	0mo	$280,000	$189	52

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.28×
• Total profit: $11,588
• Equity at exit: $22,365

10-year hold

• IRR: 18.3%
• Equity multiple: 2.70×
• Total profit: $71,302
• Equity at exit: $12,969

Cash invested: $42,000 (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 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$787
• Tax from tax record: −$59 /mo · $702/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $487

Break-even live

Break-even rent $1,149

Max offer price $150,000

Occupancy floor 67%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	44d	1	0.08mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	0.13mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	44d	1	0.16mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	24d	1	0.17mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	44d	1	0.18mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	44d	1	0.18mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	24d	1	0.18mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	24d	1	0.19mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	44d	1	0.20mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	44d	1	0.23mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	0.30mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	13d	1	0.30mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	24d	1	0.39mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	0.40mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	44d	1	0.42mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	13d	1	0.44mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	2d	1	0.46mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	44d	1	0.49mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	24d	1	0.49mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	19d	1	0.53mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	44d	1	0.53mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.60mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	44d	1	0.62mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	20d	1	0.63mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.66mi
903 Shallcross Ave Wilmington, DE	2.0	1.5	1575	$2,195	$1.39	24d	1	0.69mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	0.70mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	44d	5	0.75mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	0.76mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.77mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	19d	1	0.78mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	0.80mi
212 W 9th St Unit 204 Wilmington, DE	2.0	2.0	1671	$1,795	$1.07	44d	1	0.81mi
212 W 9th St Unit 204 Wilmington, DE	2.0	2.0	1671	$1,745	$1.04	5d	1	0.81mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	0.82mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	0.82mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	44d	1	0.84mi
839 N Tatnall St Unit 101 Wilmington, DE	2.0	2.0	1211	$1,750	$1.45	5d	1	0.84mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.84mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	0.85mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $150,000 Active 1 DOM

ⓘ 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: $702 · $59/mo
• Projected year-2 tax: $786 · $66/mo
• Expected delta: +$84/yr (+$7/mo · 12.0%)

ⓘ 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,177
• − Mortgage interest: −$8,402
• − Property taxes: −$702
• − Insurance: −$750
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$4,364
• Taxable income: $3,570
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $4,981/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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+597.7% since first listed

14 events — show timeline

• 2026-06-18 Listed $150,000 BRIGHT MLS
• 2026-06-16 Coming Soon — BRIGHT MLS
• 2026-06-16 Listing Removed — BRIGHT MLS
• 2021-07-09 Sold (MLS) $67,000 BRIGHT MLS
• 2021-06-13 Pending — BRIGHT MLS
• 2021-05-05 Price Changed $74,900 BRIGHT MLS
• 2021-04-20 Price Changed $79,000 BRIGHT MLS
• 2021-04-01 Relisted — BRIGHT MLS
• 2021-02-28 Pending — BRIGHT MLS
• 2021-02-11 Price Changed $80,000 BRIGHT MLS
• 2021-01-25 Listed $85,000 BRIGHT MLS
• 1999-04-30 Sold (MLS) $21,500 BRIGHT MLS
• 1999-04-19 Listing Removed — BRIGHT MLS
• 1999-04-15 Listed $21,500 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2024): $702 · +15.1% YoY. Source: county tax records.