3 Lowber St · Frederica, DE 19946

$189,777

4 bd · 1.0 ba · 1,411 sqft · SingleFamily public records · 23 Days on market

Built 1969 0.35 ac lot $134/sqft · 30% below area Est $271k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Handyman Special! Instant Equity to be Earned! Great opportunity for investors or handy buyers looking to build equity! This 3-bedroom, 1-bath ranch home in Frederica offers solid potential with a functional layout and plenty of space inside and out. The main level features a spacious living room, dining room, kitchen, family room, three bedrooms, and a full bathroom. A full unfinished basement provides endless possibilities for storage, workshop space, or future finishing potential. Outside, you’ll find a detached garage and a large, spacious yard perfect for entertaining, expansion, or outdoor enjoyment. With some TLC, this property could truly shine. Schedule a showing today!

Key facts

• Large spacious yard
• Detached garage
• 0.35 acre lot

Tags

• DETACHED GARAGE
• FULL UNFINISHED BASEMENT
• LARGE SPACIOUS YARD

Property features AI

Exterior

• Parking: Asphalt driveway; Driveway parking
• Utilities: Public water; Public sewer; Electric power
• Home design: Detached structure; Shingle roof; Fee simple ownership; Year built estimated
• Construction: Stick built construction; Slab foundation
• Exterior features: Not in a federal flood zone; No tidal water on the lot; Other structures above grade and below grade; Pets allowed with no restrictions

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard electric heating; Ceiling fans; Window air conditioning units; Electric cooling fuel; Electric hot water
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $995 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 7.0% in Frederica — 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 68/100 on livability (#34 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, 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.
• Zoned schools: Lake Forest High School (math 27% / reading 47%, grade F, #16 of 40 statewide, top 38%, 870 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 40% of the median local income ($80k/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.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,930 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.43% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.47%
• DSCR: 2.00
• GRM: 5.8

CMA / ARV

• ARV (median comp): $270,629
• List price: $189,777
• Delta: -26.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 4th St	0.36mi	4/2.0	1,360 (-4%)	2mo	$255,000	$188	72
5 Hillside Ave	0.37mi	3/1.5 (-1)	1,440 (+2%)	8mo	$290,000	$201	66
104 Coleman Ave	0.11mi	3/2.0 (-1)	1,274 (-10%)	8mo	$287,500	$226	63
74 Frog Leg Ln	0.29mi	3/2.0 (-1)	1,352 (-4%)	11mo	$164,000	$121	62
7 4th St	0.37mi	4/2.0	1,393 (-1%)	22mo	$265,000	$190	58
1 Jackson St	0.24mi	3/2.5 (-1)	1,536 (+9%)	6mo	$324,900	$212	58
116 Jackson St	0.33mi	3/2.5 (-1)	1,346 (-5%)	22mo	$225,000	$167	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.61×
• Total profit: $32,567
• Equity at exit: $28,296

10-year hold

• IRR: 23.9%
• Equity multiple: 3.06×
• Total profit: $109,722
• Equity at exit: $16,408

Cash invested: $53,138 (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 19946

• Home prices YoY: -16.1%
• Active inventory: 74
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,709 medium
• Mortgage (P&I): −$995
• Tax from tax record: −$70 /mo · $846/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $995

Break-even live

Break-even rent $1,449

Max offer price $189,777

Occupancy floor 58%

Sensitivity live

Price	-10% $1,103	-5% $1,049	+0% $995	+5% $941	+10% $888
Rent	-10% $781	-5% $888	+0% $995	+5% $1,102	+10% $1,209
Rate	-1.0pp $1,091	-0.5pp $1,043	base $995	+0.5pp $946	+1.0pp $896

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: $47,444
• Closing costs: $5,693
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Riptide Ct Frederica, DE	3.0	2.5	1855	$2,100	$1.13	45d	1	0.76mi

Listing history 50 events

1. 2026-06-21
   days on market $189,777 Active 23 DOM
2. 2026-06-19
   days on market $189,777 Active 21 DOM
3. 2026-06-18
   days on market $189,777 Active 20 DOM
4. 2026-06-17
   days on market $189,777 Active 19 DOM
5. 2026-06-16
   days on market $189,777 Active 18 DOM
6. 2026-06-15
   price $189,777 Active 17 DOM
7. 2026-06-15
   days on market $195,000 Active 17 DOM
8. 2026-06-14
   days on market $195,000 Active 15 DOM
9. 2026-06-13
   days on market $195,000 Active 14 DOM
10. 2026-06-10
    days on market $195,000 Active 12 DOM
11. 2026-06-09
    days on market $195,000 Active 11 DOM
12. 2026-06-08
    days on market $195,000 Active 10 DOM
13. 2026-06-07
    days on market $195,000 Active 9 DOM
14. 2026-06-05
    days on market $195,000 Active 6 DOM
15. 2026-06-03
    days on market $195,000 Active 5 DOM
16. 2026-06-02
    days on market $195,000 Active 4 DOM
17. 2026-06-01
    days on market $195,000 Active 3 DOM
18. 2026-05-31
    days on market $195,000 Active 2 DOM
19. 2026-05-08
    listed $199,900 Active 693-char remark
20. 2026-05-06
    historical $199,900 693-char remark
21. 2026-04-23
    soldstatus $226,500
22. 2026-04-01
    historical
23. 2026-04-01
    historical
24. 2026-04-01
    listed $170,000
25. 2021-01-28
    soldstatus $151,500
26. 2021-01-27
    soldstatus $151,500 Closed
27. 2021-01-05
    status Pending
28. 2020-12-19
    listed $165,000 Active
29. 2017-06-12
    soldstatus $135,000
30. 2017-06-09
    soldstatus $135,000
31. 2017-06-09
    soldstatus $135,000 Sold
32. 2017-06-09
    historical
33. 2017-05-08
    status Under Contract
34. 2017-05-06
    historical
35. 2017-04-07
    price $145,000
36. 2016-11-29
    price $146,000
37. 2016-11-07
    status Active
38. 2016-11-05
    historical
39. 2016-09-28
    price $148,500
40. 2016-05-23
    price $149,900
41. 2016-05-16
    price $154,500
42. 2016-02-01
    price $154,900
43. 2016-01-11
    price $158,500
44. 2015-11-06
    listed $159,900 Active
45. 2015-11-06
    listed $145,000
46. 2015-11-06
    listed $145,000
47. 2006-10-19
    soldstatus $149,950
48. 2006-10-09
    soldstatus $149,950
49. 2006-09-01
    historical
50. 2006-08-23
    listed $149,950

ⓘ 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: $846 · $70/mo
• Projected year-2 tax: $973 · $81/mo
• Expected delta: +$127/yr (+$11/mo · 15.1%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,505
• − Mortgage interest: −$10,630
• − Property taxes: −$846
• − Insurance: −$949
• − Repairs & maintenance: −$2,600
• − Management: −$2,600
• − Depreciation: −$5,521
• Taxable income: $9,358
• Est. tax owed @ 24.0%: −$2,246
• After-tax cash flow: $9,696/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 — Frederica

• Score: 68/100
• State rank: #34
• US rank: #9737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frederica, DE
• County: Kent County · 82,184 people
• City population: 5,603
• Metro: Dover, DE
• Population (ZIP): 5,603
• Household income: $80,459
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 128.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Black 19% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Italian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -36.16%
• Current HPI: 189.0713
• Rent YoY: —
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

+848.9% since first listed

36 events — show timeline

• 2026-06-15 Price Changed $189,777 BRIGHT MLS
• 2026-05-29 Listing Removed — BRIGHT MLS
• 2026-05-29 Listed $195,000 BRIGHT MLS
• 2026-05-08 Listed $199,900 BRIGHT MLS
• 2026-05-06 Coming Soon — BRIGHT MLS
• 2026-04-23 Sold (Public Records) $226,500 Public Records
• 2026-04-01 Listed $170,000 BRIGHT MLS
• 2026-04-01 Listing Removed — BRIGHT MLS
• 2026-04-01 Listing Removed — BRIGHT MLS
• 2021-01-28 Sold (Public Records) $151,500 Public Records
• 2021-01-27 Sold (MLS) $151,500 BRIGHT MLS
• 2021-01-05 Pending — BRIGHT MLS
• 2020-12-19 Listed $165,000 BRIGHT MLS
• 2017-06-12 Sold (Public Records) $135,000 Public Records
• 2017-06-09 Listing Removed — BRIGHT MLS
• 2017-06-09 Sold (MLS) $135,000 BRIGHT MLS
• 2017-06-09 Sold (MLS) $135,000 TREND
• 2017-05-08 Pending — TREND
• 2017-05-06 Listing Removed — BRIGHT MLS
• 2017-04-07 Price Changed $145,000 TREND
• 2016-11-29 Price Changed $146,000 TREND
• 2016-11-07 Relisted — TREND
• 2016-11-05 Delisted — TREND
• 2016-09-28 Price Changed $148,500 TREND
• 2016-05-23 Price Changed $149,900 TREND
• 2016-05-16 Price Changed $154,500 TREND
• 2016-02-01 Price Changed $154,900 TREND
• 2016-01-11 Price Changed $158,500 TREND
• 2015-11-06 Listed $159,900 TREND
• 2015-11-06 Listed $145,000 BRIGHT MLS
• 2015-11-06 Listed $145,000 BRIGHT MLS
• 2006-10-19 Sold (Public Records) $149,950 Public Records
• 2006-10-09 Sold (MLS) $149,950 BRIGHT MLS
• 2006-09-01 Listing Removed — BRIGHT MLS
• 2006-08-23 Listed $149,950 BRIGHT MLS
• 1994-06-01 Sold (Public Records) $20,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $846 · +0.4% YoY. Source: county tax records.