408 Dogwood Ave · Dover, DE 19904

$285,000

4 bd · 2.5 ba · 1,970 sqft · SingleFamily public records · 6 Days on market

Built 1965 0.27 ac lot Est $376k · 24% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +4.6/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First time on the market, one Family owners since new. This five bedroom tri level has two and a half baths, hardwood floors, single car garage and a massive rear porch rear porch.

Key facts

• Massive rear porch
• Hardwood floors
• 0.27 acre lot

Tags

• HARDWOOD FLOORS
• MASSIVE REAR PORCH

Property features AI

Finance

• Other: Total below-grade area reported; Ownership interest: Fee Simple; Year built and square footage sources reported as Assessor
• HOA & community: Ground rent paid annually

Exterior

• Parking: Attached front-entry garage with one garage space
• Utilities: Public water; Public sewer; Electric cooling fuel; Oil heating fuel
• Home design: Detached property; Fee simple ownership
• Construction: Asbestos and brick construction; Block foundation; Finished above-grade area per assessor; Finished below-grade area per assessor
• Exterior features: Lot dimensions approximately 80 x 145; No tidal water; Above-grade and below-grade other structures

Interior

• Bedrooms: Four bedrooms on the upper level; One bedroom on the main level
• Bathrooms: Two full bathrooms (all upper levels); One half bathroom on the main level
• Heating & cooling: Forced air heating (oil); Wall unit cooling (electric); Oil hot water
• Interior features: One fireplace with wood-burning hearth; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/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 $275k (3.5% below list).
• Recommended offer: $275k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 8.4% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Caesar Rodney School District (suburban): math 26% / reading 49% proficiency, ranked #9 of 26 in DE (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 225 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• At $2,749/mo this rent would consume 49% of the median local household income ($67k/yr) (locally 1500% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $274,884 (3.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $376,270
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Kesselring Ave	0.12mi	4/2.0	2,010 (+2%)	9mo	$280,000	$139	82
311 Mimosa Ave	0.19mi	4/1.5	1,688 (-14%)	2mo	$335,000	$198	61
1120 Woodsedge Rd	0.42mi	3/2.5 (-1)	1,854 (-6%)	6mo	$360,000	$194	60
226 Wyoming Ave	0.63mi	4/1.5	1,929 (-2%)	5mo	$335,000	$174	59
118 Lakeview Ave	0.74mi	3/2.0 (-1)	1,952 (-1%)	0mo	$380,000	$195	57
530 Woodsedge Rd	0.46mi	4/2.5	1,750 (-11%)	5mo	$385,000	$220	56
162 Turner Dr	0.44mi	3/3.0 (-1)	2,109 (+7%)	9mo	$352,107	$167	53
219 Samuel Paynter Dr	0.50mi	3/1.5 (-1)	2,100 (+7%)	5mo	$200,000	$95	52
1199 Charles Dr	0.31mi	3/1.5 (-1)	1,719 (-13%)	4mo	$322,000	$187	52
507 Wyoming Ave	0.56mi	3/2.5 (-1)	2,114 (+7%)	8mo	$360,000	$170	50
949 Westview Ter	0.62mi	3/1.5 (-1)	1,717 (-13%)	2mo	$330,000	$192	38
956 Janeka Ln	0.58mi	3/2.0 (-1)	1,679 (-15%)	7mo	$320,000	$191	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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-13,623
• Equity at exit: $42,494

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $32,034
• Equity at exit: $24,642

Cash invested: $79,800 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,749 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $500

Break-even live

Break-even rent $2,115

Max offer price $285,000

Occupancy floor 77%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 Ruth Way Dover, DE	4.0	2.5	1761	$3,200	$1.82	43d	1	0.55mi
511 Nickerjack Way Dover, DE	3.0	2.0	1569	$2,800	$1.78	43d	1	0.60mi
502 Horsey Blvd Dover, DE	3.0	2.0	1604	$2,900	$1.81	43d	1	0.63mi
629 Ruth Way Dover, DE	3.0–4.0	2.0–2.5	1665	$3,200	$1.92	43d	13	0.78mi
424 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	0.85mi
205 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	0.92mi
100 Isabelle Isle Dover, DE	2.0–3.0	2.0	1273	$2,299	$1.81	43d	9	1.40mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $285,000 Pending 6 DOM
2. 2026-06-10
   days on market $285,000 Active 4 DOM
3. 2026-06-09
   days on market $285,000 Active 3 DOM
4. 2026-06-08
   days on market $285,000 Active 2 DOM
5. 2026-06-07
   remarks 180-char remark
6. 2026-06-07
   listed $285,000 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: $695 · $58/mo
• Projected year-2 tax: $1,174 · $98/mo
• Expected delta: +$479/yr (+$40/mo · 69.0%)

ⓘ 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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $32,986
• − Mortgage interest: −$15,964
• − Property taxes: −$695
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − Depreciation: −$8,291
• Taxable income: $1,333
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $5,685/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: Caesar Rodney School District
• NCES district ID: 1000180
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 49% ▼ -14.00%
• Median HH income: $61,187
• Composite: 33.4/100
• National rank: #5475
• State rank: #9 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

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 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

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: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-06 Listed $285,000 BRIGHT MLS

Property tax history

-2.1%/yr

Latest (2025): $695 · +0.7% YoY. Source: county tax records.