5419 Golfview Dr · Pike Creek Valley, DE 19808

$189,900

2 bd · 2.0 ba · 1,075 sqft · Condo public records · 29 Days on market

Built 1982

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Pike Creek Condo & acirc; & euro; & ldquo; Move-In Ready Welcome to easy, low-maintenance living in the highly sought-after Linden Green community in the heart of Pike Creek. This beautifully refreshed 2-bedroom, 2-bath second-floor condo offers a perfect blend of modern updates, comfort, and peaceful nature views. The home features an updated kitchen, fresh paint, and laminate flooring throughout. The bright living room is filled with natural light and opens to a private balcony overlooking serene views of the former Three Little Bakers Golf Course, offering rare privacy not found in units that back to New Linden Hill Road. The primary bedroom includes generous closet

Key facts

• Serene views
• Private balcony
• Updated kitchen

Tags

• UPDATED KITCHEN
• PRIVATE BALCONY
• SERENE VIEWS
• GENEROUS CLOSET SPACE
• PRIVATE EN-SUITE BATH
• FENCED SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/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 $188k (0.8% below list).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.7% in Pike Creek Valley — 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 69/100 on livability (#26 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living B+; Watch: amenities F, commute F, health & safety 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 (+2.0%/yr); 126 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $190k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.02% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-13,186
• Equity at exit: $28,315

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $5,988
• Equity at exit: $16,419

Cash invested: $53,172 (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 19808

• Rents YoY: 2.0%
• Active inventory: 126
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$996
• Tax from tax record: −$108 /mo · $1,296/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $306

Break-even live

Break-even rent $1,497

Max offer price $189,900

Occupancy floor 79%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5501 Limeric Cir Wilmington, DE	2.0	2.0	987	$1,847	$1.87	10d	1	0.13mi
5211 Birch Cir Unit 5211 Wilmington, DE	2.0	2.0	1100	$1,850	$1.68	1d	1	0.21mi
4807 Birch Cir Unit 142 Wilmington, DE	2.0	1.0	1200	$1,750	$1.46	1d	1	0.23mi
3611 Haley Ct Unit 1 Wilmington, DE	2.0	2.0	1500	$1,900	$1.27	17d	1	0.31mi
5404 Doral Dr Wilmington, DE	2.0	1.5	1225	$2,000	$1.63	24d	1	0.44mi
2112 Sheldon Dr Newark, DE	1.0–2.0	1.0–2.0	966	$2,102	$2.18	1d	23	0.60mi
4906 Catamaran Ct Wilmington, DE	2.0	1.5	1250	$1,895	$1.52	44d	1	1.03mi
2901 Crossfork Dr Wilmington, DE	1.0–2.0	1.0–1.5	832	$2,500	$3.00	2d	1	1.29mi
5597 Heritage Court Dr Apt 2B Wilmington, DE	1.0–2.0	1.0	707	$1,535	$2.17	2d	6	1.29mi
5121 W Woodmill Dr Wilmington, DE	2.0	1.5	1120	$1,950	$1.74	44d	1	1.33mi
39 Abbey Ln Newark, DE	1.0–2.0	1.0	707	$1,580	$2.23	1d	11	1.34mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-16
   days on market $189,900 Active 29 DOM
2. 2026-06-15
   days on market $189,900 Active 28 DOM
3. 2026-06-13
   days on market $189,900 Active 26 DOM
4. 2026-06-13
   days on market $189,900 Active 25 DOM
5. 2026-06-09
   days on market $189,900 Active 22 DOM
6. 2026-06-08
   days on market $189,900 Active 21 DOM
7. 2026-06-07
   days on market $189,900 Active 20 DOM
8. 2026-06-04
   days on market $189,900 Active 17 DOM
9. 2026-06-03
   days on market $189,900 Active 16 DOM
10. 2026-06-02
    days on market $189,900 Active 15 DOM
11. 2026-06-01
    days on market $189,900 Active 14 DOM
12. 2026-05-31
    days on market $189,900 Active 13 DOM
13. 2026-05-18
    listed $189,900 Active
14. 2016-08-18
    soldstatus $90,000
15. 2007-04-17
    soldstatus $130,000
16. 2001-08-01
    soldstatus $63,000
17. 1987-01-01
    soldstatus $51,000

ⓘ 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: $1,296 · $108/mo
• Projected year-2 tax: $1,296 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 15 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: $22,615
• − Mortgage interest: −$10,637
• − Property taxes: −$1,296
• − Insurance: −$950
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$5,524
• Taxable income: $589
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $3,528/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 — Pike Creek Valley

• Score: 69/100
• State rank: #26
• US rank: #8511

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pike Creek Valley, DE
• County: New Castle County · 483,412 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 39,082
• Household income: $94,234
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 619.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 14% Asian 8% Black 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 7% Lithuanian 1% Slovak 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 12% Chinese 3% Other Indo-European 2%

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: ▼ -252.43%
• Current HPI: 239.0702
• Rent YoY: ▲ 2.02%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+272.4% since first listed

5 events — show timeline

• 2026-05-18 Listed $189,900 FSBO.com
• 2016-08-18 Sold (Public Records) $90,000 Public Records
• 2007-04-17 Sold (Public Records) $130,000 Public Records
• 2001-08-01 Sold (Public Records) $63,000 Public Records
• 1987-01-01 Sold (Public Records) $51,000 Public Records

Property tax history

+4.5%/yr

Latest (2015): $1,296 · +8.1% YoY. Source: county tax records.