2913 W 3rd St · Wilmington, DE 19805

$230,000

3 bd · 1.0 ba · 1,075 sqft · Townhouse public records · 17 Days on market

Built 1951 1,742 sqft lot $214/sqft · at area comps Est $222k · at est.

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Why this score? — see what drove the D 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 +16.7/30.0
• ARV discount +5.8/15.0
• DSCR +5.2/10.0
• Rent growth +4.1/5.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home! This charming 3-bedroom, 1-bath brick townhome that has been lovingly cared for in the same family since 1956, has everything you need for comfortable city living. Step inside to find a bright and welcoming living room that flows nicely into the dining area and full kitchen—great for everyday meals or hosting friends. Upstairs, you’ll find three nicely sized bedrooms and a full bath. The basement adds extra space for storage, a workout area, or even a hobby room—whatever fits your lifestyle! Outside, enjoy a private backyard that’s perfect for relaxing in the pool after a long day, or summer barbecues. Located close to shops, restaurants, and public tra

Key facts

• Full kitchen
• Private backyard
• Workout area

Tags

• PRIVATE BACKYARD
• BRIGHT LIVING ROOM
• FULL KITCHEN
• EXTRA SPACE FOR STORAGE
• WORKOUT AREA
• HOBBY ROOM

Property features AI

Exterior

• Parking: One assigned parking space; Parking via alley and on-street
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Interior townhouse/rowhouse; Brick construction
• Construction: Brick construction; Block foundation; Above-grade and below-grade structures
• Exterior features: Deck(s); Above-ground personal pool; Property is in city limits

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms on the first upper level; Rooms include living room, dining room, master bedroom, two additional bedrooms, and kitchen
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Estimated living area; Unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $143 ($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 $192k (16.6% below list).
• Recommended offer: $192k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.7% in Wilmington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, commute D, crime F.
• 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.
• Zoned schools: Johnson (Joseph E. Jr) Elementary School (math 12% / reading 22%, grade F, #86 of 105 statewide, top 86%, 284 students, 0% FRL); Dupont (Alexis I.) Middle School (math 7% / reading 24%, grade F, #33 of 36 statewide, top 91%, 492 students, 0% FRL); Dupont (Alexis I.) High School (math 22% / reading 47%, grade F, #18 of 40 statewide, top 49%, 680 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 22% at this address vs 34% district-wide (-12 pts) — the specific schools serving this property underperform the Red Clay Consolidated School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.3%/yr); 168 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 38% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 17 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $191,920 (16.6% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (median comp): $221,632
• List price: $230,000
• Delta: 3.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2904 W 3rd St	0.02mi	3/1.5	1,075 (0%)	5mo	$149,900	$139	93
223 Woodlawn Ave	0.37mi	3/1.0	1,125 (+5%)	2mo	$240,000	$213	73
227 S Union St	0.64mi	3/1.0	1,075 (0%)	1mo	$180,000	$167	70
506 Rodman St	0.34mi	2/1.0 (-1)	984 (-8%)	1mo	$229,900	$234	65
461 S Sycamore St	0.60mi	3/1.0	1,000 (-7%)	1mo	$250,000	$250	60
220 S Bancroft Pkwy	0.59mi	2/2.0 (-1)	1,100 (+2%)	2mo	$310,000	$282	58
444 Geddes St	0.69mi	3/1.5	1,125 (+5%)	2mo	$330,000	$293	56
438 Geddes St	0.68mi	3/2.0	1,125 (+5%)	3mo	$285,000	$253	54
14 S Bancroft Pkwy	0.59mi	3/1.0	1,200 (+12%)	2mo	$269,000	$224	51
1908 W 2nd St	0.63mi	3/1.0	1,200 (+12%)	3mo	$145,000	$121	49
2042 Clark St	0.69mi	3/1.0	1,200 (+12%)	0mo	$335,000	$279	48
400 Geddes St	0.64mi	3/1.5	1,225 (+14%)	0mo	$337,500	$276	44

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.66×
• Total profit: $-21,600
• Equity at exit: $34,294

10-year hold

• IRR: 4.1%
• Equity multiple: 1.34×
• Total profit: $21,865
• Equity at exit: $19,886

Cash invested: $64,400 (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 19805

• Rents YoY: 6.3%
• Active inventory: 168
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$72 /mo · $858/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $143

Break-even live

Break-even rent $1,739

Max offer price $230,000

Occupancy floor 88%

Sensitivity live

Price	-10% $273	-5% $208	+0% $143	+5% $78	+10% $12
Rent	-10% $-9	-5% $67	+0% $143	+5% $218	+10% $294
Rate	-1.0pp $259	-0.5pp $201	base $143	+0.5pp $83	+1.0pp $22

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3403 Lancaster Pike Wilmington, DE	2.0–3.0	1.0	1022	$1,874	$1.83	1d	3	0.55mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	45d	1	0.76mi
2700 Boulevard Rd Wilmington, DE	1.0–2.0	1.0	743	$1,525	$2.05	1d	7	0.79mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	0.79mi
70 Court Dr Wilmington, DE	1.0–3.0	1.0	713	$1,914	$2.68	0d	15	0.80mi
201 New Rd Wilmington, DE	2.0	1.0	800	$1,350	$1.69	4d	1	0.81mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	26d	1	0.82mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	13d	1	0.88mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	16d	1	0.89mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	5d	1	0.90mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	6d	1	0.92mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	45d	1	0.95mi
27 Vilone Rd Wilmington, DE	3.0	1.0	1225	$2,000	$1.63	7d	1	0.99mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	24d	1	1.07mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,795	$1.20	0d	1	1.12mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	13d	1	1.13mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	45d	1	1.14mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	45d	1	1.16mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	7d	1	1.17mi
2010 Woodlawn Ave Unit 1 Wilmington, DE	2.0	1.0	1100	$2,090	$1.90	45d	1	1.18mi
205 Western Ave Wilmington, DE	4.0	2.5	1225	$2,300	$1.88	45d	1	1.19mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,590	$1.45	18d	1	1.19mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,749	$1.59	24d	1	1.19mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	5d	1	1.20mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	45d	1	1.20mi
1109 Montgomery Rd Wilmington, DE	4.0	2.0	1275	$1,850	$1.45	20d	1	1.21mi
5 Ruth Rd Elsmere, DE	1.0–2.0	1.0	650	$1,450	$2.23	14d	1	1.23mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	20d	1	1.24mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	22d	1	1.25mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	26d	1	1.25mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	45d	1	1.26mi
1501 N Broom St Unit 2/3 Wilmington, DE	2.0	2.5	1250	$2,500	$2.00	7d	1	1.28mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	26d	1	1.29mi
205 Porter St Wilmington, DE	2.0	1.5	1200	$1,700	$1.42	17d	1	1.31mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	14d	4	1.32mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	45d	4	1.32mi
7 Rockford Rd Wilmington, DE	1.0–2.0	1.0–2.0	700	$1,700	$2.43	13d	2	1.32mi
1210 Delaware Ave Unit 3 Wilmington, DE	2.0	1.0	1200	$2,395	$2.00	45d	1	1.33mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	26d	1	1.34mi
1610 N Broom St Unit 2 Wilmington, DE	2.0	1.0	1000	$2,150	$2.15	45d	1	1.35mi

Listing history 7 events

1. 2026-05-06
   status Pending 1097-char remark
2. 2026-04-19
   listed $230,000 Active 1097-char remark
3. 2026-02-16
   historical
4. 2025-11-01
   listed $240,000 Active
5. 2025-10-29
   historical
6. 2009-07-12
   historical
7. 2008-07-12
   listed $143,000

ⓘ 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: $858 · $72/mo
• Projected year-2 tax: $1,096 · $91/mo
• Expected delta: +$238/yr (+$20/mo · 27.7%)

ⓘ 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 7/10 Severe 7 d/yr ≥103°F today · 16 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,030
• − Mortgage interest: −$12,884
• − Property taxes: −$858
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$6,691
• Taxable loss: −$2,237
• Est. tax savings @ 24.0%: +$537
• After-tax cash flow: $2,249/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 — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 1%

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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+60.8% since first listed

7 events — show timeline

• 2026-05-06 Pending — BRIGHT MLS
• 2026-04-19 Listed $230,000 BRIGHT MLS
• 2026-02-16 Listing Removed — BRIGHT MLS
• 2025-11-01 Listed $240,000 BRIGHT MLS
• 2025-10-29 Coming Soon — BRIGHT MLS
• 2009-07-12 Listing Removed — BRIGHT MLS
• 2008-07-12 Listed $143,000 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2024): $858 · +15.1% YoY. Source: county tax records.