323 Jean Bradley Cir #321 · Magnolia, DE 19946

$59,000

2 bd · 2.0 ba · 910 sqft · SingleFamily · 202 Days on market

Built 1977 Fair condition $65/sqft · 23% below area Est $77k · 23% under $708/mo HOA · 37% of rent ↓ 9% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

Key facts

• Parking
• Community pool
• Built 1977

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$76,604) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 2.3% in Magnolia — 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 (#51 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment A-, housing B+; Watch: schools F, 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.
• Market conditions: 73 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• 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 $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 3.25% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.03%
• DSCR: 2.29
• GRM: 2.6

CMA / ARV

• ARV (median comp): $76,604
• List price: $59,000
• Delta: -22.98%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Ibis Ct	0.11mi	2/2.0	958 (+5%)	3mo	$36,000	$38	84
204 Kestrel Ct #204	0.19mi	2/2.0	871 (-4%)	1mo	$68,400	$79	83
177 Holly Dr #177	0.31mi	3/2.0 (+1)	924 (+2%)	6mo	$65,000	$70	73
214 Kestrel Ct #214	0.27mi	2/2.0	944 (+4%)	15mo	$36,000	$38	69
533 E 3rd St	0.58mi	3/1.5 (+1)	960 (+6%)	12mo	$180,000	$188	47

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: 23.9%
• Equity multiple: 1.99×
• Total profit: $16,353
• Equity at exit: $8,797

10-year hold

• IRR: 32.1%
• Equity multiple: 3.96×
• Total profit: $48,895
• Equity at exit: $5,101

Cash invested: $16,520 (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: 73
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,918 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$708
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $400

Break-even live

Break-even rent $1,412

Max offer price $59,000

Occupancy floor 74%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Willow Dr Frederica, DE	3.0–4.0	2.0	1312	$1,699	$1.29	43d	1	0.09mi

HOA detail

• Monthly dues: $708 · $8,496/yr
• Likely covers: pool

Listing history 22 events

1. 2026-06-19
   days on market $59,000 Active 202 DOM
2. 2026-06-18
   days on market $59,000 Active 201 DOM
3. 2026-06-17
   days on market $59,000 Active 200 DOM
4. 2026-06-16
   days on market $59,000 Active 199 DOM
5. 2026-06-15
   days on market $59,000 Active 198 DOM
6. 2026-06-14
   days on market $59,000 Active 196 DOM
7. 2026-06-13
   days on market $59,000 Active 195 DOM
8. 2026-06-10
   days on market $59,000 Active 193 DOM
9. 2026-06-09
   days on market $59,000 Active 192 DOM
10. 2026-06-08
    days on market $59,000 Active 191 DOM
11. 2026-06-07
    days on market $59,000 Active 190 DOM
12. 2026-06-05
    days on market $59,000 Active 187 DOM
13. 2026-06-03
    days on market $59,000 Active 186 DOM
14. 2026-06-02
    days on market $59,000 Active 185 DOM
15. 2026-06-01
    days on market $59,000 Active 184 DOM
16. 2026-05-31
    days on market $59,000 Active 183 DOM
17. 2026-05-30
    days on market $59,000 Active 182 DOM
18. 2026-04-28
    status Active 1852-char remark

    Show marketing remark (1852 chars)

    Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

19. 2026-04-16
    historical Active Under Contract 1852-char remark

    Show marketing remark (1852 chars)

    Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

20. 2026-01-09
    price $59,000 1852-char remark

    Show marketing remark (1852 chars)

    Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

21. 2025-11-18
    listed $65,000 Active 1852-char remark

    Show marketing remark (1852 chars)

    Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

22. 2025-11-16
    historical $65,000 1852-char remark

    Show marketing remark (1852 chars)

    Discover a supportive lifestyle in this charming manufactured home located in the sought-after High Point Trailer Park with a community swimming pool, playground, RV storage and more! Designed exclusively for those seeking a senior community which is pet friendly. This single-wide property, built in 1977, offers a blend of comfort and luxury, perfect for those looking to embrace a relaxed way of living. Spanning 910 square feet, this single-wide Holiday Cottage model 3550 is thoughtfully designed to maximize space and functionality. The interior features vinyl plank flooring, providing a stylish interior with an archway from the living room into the kitchen. With an open layout, the living area invites natural light, creating a welcoming atmosphere for relaxation or entertaining friends. This includes a dining area and is open to the kitchen. The home currently features a split floorplan with the two bedrooms separated by the kitchen and living area. Sheer white curtains and blinds provide light and privacy. The exterior of the home is equally inviting, with a well-maintained facade that reflects pride of ownership. A large 360sqft screened in and louver windowed porch graces the front of this home with tons of space to eat, entertain and hang out! The community itself offers a peaceful environment, perfect for leisurely strolls or enjoying the company of neighbors. The amenities allow for a summer fun at the outdoor pool, a pond, a playground and a community club with a full kitchen for year round socializing. Living in this senior community means embracing a lifestyle that prioritizes convenience - near Milford hospital and only 44 miles to the Wilmington airport and train station. Don't miss the chance to make this attractive residence your own and enjoy the well-maintained High Point Trailer Park lifestyle it offers.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $23,017
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − HOA: −$8,496
• − Depreciation: −$1,716
• Taxable income: $4,637
• Est. tax owed @ 24.0%: −$1,113
• After-tax cash flow: $3,682/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-wide manufactured home requires moderate repairs and maintenance, with potential for significant value increase through cosmetic upgrades and landscaping.

Repairs flagged

• Minor exterior siding — Light siding needs touch-up
• Minor exterior bushes — Some bushes need trimming

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace exterior siding — New siding improves curb appeal and durability
• Both Upgrade HVAC system — Modern HVAC system improves comfort and energy efficiency
• Both Landscaping and curb appeal — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Light siding needs touch-up	Minor	$500–3,000
exterior bushes · Some bushes need trimming	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace exterior siding — New siding improves curb appeal and durability ↑
• Both Upgrade HVAC system — Modern HVAC system improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Magnolia

• Score: 64/100
• State rank: #51
• US rank: #13984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 82,184 people
• 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

-9.2% since first listed

5 events — show timeline

• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-16 Contingent — BRIGHT MLS
• 2026-01-09 Price Changed $59,000 BRIGHT MLS
• 2025-11-18 Listed $65,000 BRIGHT MLS
• 2025-11-16 Coming Soon $65,000 BRIGHT MLS