9186 E Mayhew Dr · Milford, DE 19960

$249,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 35 Days on market

Built 1971 0.34 ac lot $236/sqft · 40% above area Est $453k · 45% under

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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 +16.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• Schools +4.2/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming detached ranch home situated on a west-facing corner lot, offering a functional layout and plenty of potential. Built in 1971, the home features approximately 1,344 square feet on the main level, along with a full basement providing additional space for storage or future finishing. The main level includes 3 bedrooms and 1 full bathroom, featuring a mix of carpet and vinyl/linoleum flooring throughout. An architectural shingle roof and private well add to the home’s practicality. Enjoy outdoor living with an above-ground pool, perfect for seasonal relaxation. A crushed stone driveway provides off-street parking for up to four vehicles, and a rear ramp enhances accessibility. P

Key facts

• Rear ramp
• Full basement
• Above-ground pool

Tags

• WEST-FACING CORNER LOT
• FULL BASEMENT
• ABOVE-GROUND POOL
• CRUSHED STONE DRIVEWAY
• REAR RAMP

Property features AI

Finance

• Other: Fee simple ownership; No pet restrictions (pets allowed)

Exterior

• Parking: Driveway parking with six spaces; Crushed stone driveway
• Utilities: Well water; Private septic tank; Electric heating and cooling; Multi-tank hot water
• Home design: Detached home; Estimated above-grade and below-grade finished living areas; Not in a federal flood zone
• Construction: Block construction; Block foundation; Architectural shingle roof; Built year per assessor
• Exterior features: Corner lot; Above-ground personal pool; Shed; Ramp to main level (accessibility)

Interior

• Kitchen: Gas range; Oven; Refrigerator; Icemaker; Dishwasher; Microwave; Exhaust fan
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning (electric)
• Interior features: Ceiling fans; Storm door; Storm and screened windows; Full basement
• Laundry & utility: Washer and dryer; Laundry on lower floor; Multi-tank hot water system

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (17.6% below list).
• Recommended offer: $205k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.7% in Milford — 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 62/100 on livability (#61 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Cape Henlopen School District (town): math 42% / reading 55% proficiency, ranked #5 of 26 in DE (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cape Henlopen High School (math 26% / reading 51%, grade F, #14 of 40 statewide, top 33%, 1,813 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 88 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

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 $205,264 (17.6% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 0.82% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (median comp): $452,963
• List price: $249,000
• Delta: -45.03%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21146 Adams Cir	0.08mi	3/1.0	1,000 (-5%)	4mo	$245,000	$245	84
20764 Fleatown Rd	0.10mi	3/1.0	1,056 (0%)	15mo	$265,000	$251	83
20999 Cubbage Pond Rd	0.20mi	3/1.0	1,056 (0%)	20mo	$270,000	$256	74
20991 Mayhew Dr	0.18mi	3/1.5	1,056 (0%)	22mo	$275,000	$260	71
21039 Cubbage Pond Rd	0.24mi	3/1.0	1,056 (0%)	23mo	$285,000	$270	70
20774 Fleatown Rd	0.08mi	4/1.0 (+1)	1,152 (+9%)	23mo	$235,000	$204	57

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: 26.3%
• Equity multiple: 3.09×
• Total profit: $145,876
• Equity at exit: $224,319

10-year hold

• IRR: 23.0%
• Equity multiple: 7.04×
• Total profit: $421,148
• Equity at exit: $483,752

Cash invested: $69,720 (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 19960

• Home prices YoY: 23.9%
• Active inventory: 88
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,053 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$49 /mo · $586/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $163

Break-even live

Break-even rent $1,846

Max offer price $249,000

Occupancy floor 87%

Sensitivity live

Price	-10% $304	-5% $234	+0% $163	+5% $93	+10% $22
Rent	-10% $1	-5% $82	+0% $163	+5% $244	+10% $325
Rate	-1.0pp $289	-0.5pp $227	base $163	+0.5pp $99	+1.0pp $33

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $249,000 Active 35 DOM
2. 2026-06-17
   days on market $249,000 Active 34 DOM
3. 2026-06-16
   days on market $249,000 Active 33 DOM
4. 2026-06-15
   days on market $249,000 Active 32 DOM
5. 2026-06-14
   days on market $249,000 Active 30 DOM
6. 2026-06-13
   days on market $249,000 Active 29 DOM
7. 2026-06-10
   days on market $249,000 Active 27 DOM
8. 2026-06-09
   days on market $249,000 Active 26 DOM
9. 2026-06-08
   days on market $249,000 Active 25 DOM
10. 2026-06-07
    days on market $249,000 Active 24 DOM
11. 2026-06-05
    days on market $249,000 Active 21 DOM
12. 2026-06-03
    days on market $249,000 Active 20 DOM
13. 2026-06-02
    days on market $249,000 Active 19 DOM
14. 2026-06-01
    days on market $249,000 Active 18 DOM
15. 2026-05-31
    days on market $249,000 Active 17 DOM
16. 2026-05-30
    days on market $249,000 Active 16 DOM
17. 2026-05-14
    listed $249,000 Active 753-char remark

ⓘ 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: $586 · $49/mo
• Projected year-2 tax: $1,015 · $85/mo
• Expected delta: +$429/yr (+$36/mo · 73.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,632
• − Mortgage interest: −$13,948
• − Property taxes: −$586
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,971
• − Management: −$1,971
• − Depreciation: −$7,244
• Taxable loss: −$2,332
• Est. tax savings @ 24.0%: +$560
• After-tax cash flow: $2,518/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: Cape Henlopen School District
• NCES district ID: 1000170
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $60,196
• Composite: 42.47/100
• National rank: #3214
• State rank: #5 of 26 in DE

Livability — Milford

• Score: 62/100
• State rank: #61
• US rank: #16211

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,083

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 23% Hispanic / Latino 14% Two or more races 10%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Italian 4% Scandinavian 2% Romanian 2%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 14% Other Indo-European 2% Other Asian/Pacific 1%

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: ▲ 71.02%
• Current HPI: 367.6248
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-14 Listed $249,000 BRIGHT MLS

Property tax history

+3.5%/yr

Latest (2025): $586 · +13.8% YoY. Source: county tax records.