2629 Morgans Choice Rd · Camden, DE 19934

$65,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 319 Days on market

Built 2007 $45/sqft · 65% below area ↓ 50% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LAND NOT FOR SALE, ONLY THE HOME! MUST BE MOVED BY A LICENSED MH MOVING COMPANY. Purchase this 3-bedroom 2-bath home and move it to your own lot. All appliances and systems go with the home and are all in as-is where-is condition. Do not walk the property without an appointment. Take advantage of this great offer!

Key facts

• Built 2007
• Listed 318 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.8% vs local median 3.5% in Camden — 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 (#47 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living A-; Watch: crime F, amenities 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: 94 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 319 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 319 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.19% ✓
• Cap rate: 27.83%
• Cash-on-cash: 76.93%
• DSCR: 4.42
• GRM: 2.6

CMA / ARV

• ARV (median comp): $180,183
• List price: $65,000
• Delta: -63.93%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 76.9%
• Equity multiple: 4.51×
• Total profit: $63,827
• Equity at exit: $9,692

10-year hold

• IRR: 80.6%
• Equity multiple: 9.32×
• Total profit: $151,451
• Equity at exit: $5,620

Cash invested: $18,200 (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 19934

• Home prices YoY: -25.1%
• Active inventory: 94
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,072 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$102 /mo · $1,223/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $1,167

Break-even live

Break-even rent $595

Max offer price $65,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,204	-5% $1,185	+0% $1,167	+5% $1,148	+10% $1,130
Rent	-10% $1,003	-5% $1,085	+0% $1,167	+5% $1,249	+10% $1,330
Rate	-1.0pp $1,200	-0.5pp $1,183	base $1,167	+0.5pp $1,150	+1.0pp $1,133

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $65,000 Active 319 DOM
2. 2026-06-18
   days on market $65,000 Active 318 DOM
3. 2026-06-17
   days on market $65,000 Active 317 DOM
4. 2026-06-16
   days on market $65,000 Active 316 DOM
5. 2026-06-15
   days on market $65,000 Active 315 DOM
6. 2026-06-14
   days on market $65,000 Active 313 DOM
7. 2026-06-13
   days on market $65,000 Active 312 DOM
8. 2026-06-10
   days on market $65,000 Active 310 DOM
9. 2026-06-09
   days on market $65,000 Active 309 DOM
10. 2026-06-08
    days on market $65,000 Active 308 DOM
11. 2026-06-07
    days on market $65,000 Active 307 DOM
12. 2026-06-02
    days on market $65,000 Active 302 DOM
13. 2026-06-01
    days on market $65,000 Active 301 DOM
14. 2026-05-31
    days on market $65,000 Active 300 DOM
15. 2026-05-30
    days on market $65,000 Active 299 DOM
16. 2026-03-09
    status Active 315-char remark

    Show marketing remark (315 chars)

    LAND NOT FOR SALE, ONLY THE HOME! MUST BE MOVED BY A LICENSED MH MOVING COMPANY. Purchase this 3-bedroom 2-bath home and move it to your own lot. All appliances and systems go with the home and are all in as-is where-is condition. Do not walk the property without an appointment. Take advantage of this great offer!

17. 2026-03-06
    historical 315-char remark

    Show marketing remark (315 chars)

    LAND NOT FOR SALE, ONLY THE HOME! MUST BE MOVED BY A LICENSED MH MOVING COMPANY. Purchase this 3-bedroom 2-bath home and move it to your own lot. All appliances and systems go with the home and are all in as-is where-is condition. Do not walk the property without an appointment. Take advantage of this great offer!

18. 2026-01-20
    price $65,000 315-char remark

    Show marketing remark (315 chars)

    LAND NOT FOR SALE, ONLY THE HOME! MUST BE MOVED BY A LICENSED MH MOVING COMPANY. Purchase this 3-bedroom 2-bath home and move it to your own lot. All appliances and systems go with the home and are all in as-is where-is condition. Do not walk the property without an appointment. Take advantage of this great offer!

19. 2025-08-01
    listed $55,000 Active 315-char remark

    Show marketing remark (315 chars)

    LAND NOT FOR SALE, ONLY THE HOME! MUST BE MOVED BY A LICENSED MH MOVING COMPANY. Purchase this 3-bedroom 2-bath home and move it to your own lot. All appliances and systems go with the home and are all in as-is where-is condition. Do not walk the property without an appointment. Take advantage of this great offer!

20. 2018-11-20
    soldstatus $130,000

ⓘ 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: $1,223 · $102/mo
• Projected year-2 tax: $1,223 · $102/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 8/10 Severe 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $24,861
• − Mortgage interest: −$3,641
• − Property taxes: −$1,223
• − Insurance: −$325
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$1,891
• Taxable income: $13,803
• Est. tax owed @ 24.0%: −$3,313
• After-tax cash flow: $10,689/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 — Camden

• Score: 64/100
• State rank: #47
• US rank: #13717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,579

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: Majority White (63%)
• Race & ethnicity: White 63% Black 24% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 4% German/W. Germanic 4% French/Haitian/Cajun 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: ▼ -62.19%
• Current HPI: 185.0938
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-50.0% since first listed

5 events — show timeline

• 2026-03-09 Relisted — BRIGHT MLS
• 2026-03-06 Listing Removed — BRIGHT MLS
• 2026-01-20 Price Changed $65,000 BRIGHT MLS
• 2025-08-01 Listed $55,000 BRIGHT MLS
• 2018-11-20 Sold (Public Records) $130,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $1,223 · +0.4% YoY. Source: county tax records.