419 E 9th St · Wilmington, DE 19801

$92,000

3 bd · 1.0 ba · 750 sqft · Townhouse public records · 70 Days on market

Built 1880 871 sqft lot $123/sqft · 17% below area Est $110k · 17% under

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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
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Alert! 3 bedroom 1 bathroom Townhouse in Wilmington . There is a full basement for storage, spacious living room, dining area and kitchen. The property is close to restaurants, grocery, shopping, easy access to I-95. As is Condition.

Key facts

• Easy access to i-95
• Dining area
• Full basement

Tags

• FULL BASEMENT
• SPACIOUS LIVING ROOM
• DINING AREA
• EASY ACCESS TO I-95

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $92k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $86k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 5.6% in Wilmington — 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 (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, schools D, commute D.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 42% of the median local income ($53k/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 $636 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $92k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $86,480 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.02% ✓
• Cap rate: 17.76%
• Cash-on-cash: 40.96%
• DSCR: 2.82
• GRM: 4.1

CMA / ARV

• ARV (median comp): $110,434
• List price: $92,000
• Delta: -16.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 N Spruce St	0.17mi	3/1.0	775 (+3%)	8mo	$67,000	$86	80
321 E 9th St	0.05mi	2/1.0 (-1)	850 (+13%)	4mo	$58,000	$68	67
910 N Spruce St	0.18mi	2/1.0 (-1)	850 (+13%)	4mo	$107,500	$126	61
815 N Pine St	0.13mi	2/1.0 (-1)	675 (-10%)	15mo	$134,900	$200	60
819 N Spruce St	0.18mi	2/1.0 (-1)	675 (-10%)	21mo	$117,500	$174	52
908 N Spruce St	0.18mi	2/1.0 (-1)	850 (+13%)	19mo	$82,000	$96	48
614 W 8th St	0.62mi	2/1.0 (-1)	700 (-7%)	20mo	$85,000	$121	38

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.49×
• Total profit: $38,493
• Equity at exit: $13,717

10-year hold

• IRR: 41.9%
• Equity multiple: 4.70×
• Total profit: $95,249
• Equity at exit: $7,954

Cash invested: $25,760 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,861 high
• Mortgage (P&I): −$482
• Tax from tax record: −$70 /mo · $840/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $879

Break-even live

Break-even rent $748

Max offer price $92,000

Occupancy floor 48%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	1d	1	0.18mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	20d	1	0.20mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	0.21mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.25mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	0.28mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	0.32mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	0.36mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	0.36mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	43d	1	0.38mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	0.39mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	0.39mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.41mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	43d	1	0.50mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.58mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	43d	1	0.62mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	43d	1	0.62mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	43d	1	0.63mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	0.63mi
6 W 20th St Wilmington, DE	2.0	1.0	650	$1,395	$2.15	43d	1	0.64mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.64mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	1d	13	0.73mi
401 A St Wilmington, DE	2.0	1.0–2.0	716	$2,605	$3.64	1d	13	0.74mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	0.76mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	16d	1	0.77mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	10d	1	0.77mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	43d	1	0.79mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	24d	1	0.85mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	12d	1	0.91mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	0.91mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	43d	1	0.92mi
312 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	700	$1,295	$1.85	24d	1	0.93mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.95mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	12d	1	0.96mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	0.99mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.99mi
608 W 20th St Wilmington, DE	2.0	1.0	800	$1,400	$1.75	43d	1	1.00mi
1301 N Harrison St Wilmington, DE	1.0–2.0	1.0	1050	$1,850	$1.76	5d	1	1.02mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	43d	4	1.06mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	12d	4	1.06mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	24d	1	1.07mi

Listing history 27 events

1. 2026-06-18
   days on market $92,000 Active 70 DOM
2. 2026-06-17
   days on market $92,000 Active 69 DOM
3. 2026-06-16
   days on market $92,000 Active 68 DOM
4. 2026-06-15
   days on market $92,000 Active 67 DOM
5. 2026-06-13
   days on market $92,000 Active 65 DOM
6. 2026-06-13
   days on market $92,000 Active 64 DOM
7. 2026-06-09
   days on market $92,000 Active 61 DOM
8. 2026-06-08
   days on market $92,000 Active 60 DOM
9. 2026-06-07
   days on market $92,000 Active 59 DOM
10. 2026-06-04
    days on market $92,000 Active 56 DOM
11. 2026-06-03
    days on market $92,000 Active 55 DOM
12. 2026-06-02
    days on market $92,000 Active 54 DOM
13. 2026-06-01
    days on market $92,000 Active 53 DOM
14. 2026-05-31
    days on market $92,000 Active 52 DOM
15. 2026-05-04
    price $97,000 242-char remark

    Show marketing remark (242 chars)

    Investor Alert! 3 bedroom 1 bathroom Townhouse in Wilmington . There is a full basement for storage, spacious living room, dining area and kitchen. The property is close to restaurants, grocery, shopping, easy access to I-95. As is Condition.

16. 2026-04-09
    listed $99,900 Active 242-char remark

    Show marketing remark (242 chars)

    Investor Alert! 3 bedroom 1 bathroom Townhouse in Wilmington . There is a full basement for storage, spacious living room, dining area and kitchen. The property is close to restaurants, grocery, shopping, easy access to I-95. As is Condition.

17. 2023-12-27
    historical $1,195
18. 2023-11-30
    listed $1,195
19. 2018-09-17
    soldstatus $40,000 Closed 792-char remark

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

20. 2018-09-17
    soldstatus $40,000 Sold

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

21. 2018-08-27
    status Pending 792-char remark

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

22. 2018-08-27
    status Under Contract

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

23. 2018-08-23
    listed $47,000 Active 792-char remark

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

24. 2018-08-23
    listed $47,000 Active

    Show marketing remark (792 chars)

    Looking for a well maintained townhouse just waiting for a new owner. .. then search no more. Home features a spacious living room with laminate wood floors overlooking the dining room. Kitchen offers plenty of cabinet and counter top space for those who love to cook. Head on back to the main level family room area. Heading upstairs are 3 bedrooms generous in size and offering decent closet space along with the full bath. Unfinished basement can handle all of your storage needs. Hang out and BBQ this summer in the fenced year yard. This home is conveniently located within walking distance to the downtown business district in the City of Wilmington. This home would be great for any buyer whether it be your 1st home or the investor looking to add to their portfolio. Come take a look!

25. 2018-08-10
    historical
26. 2018-05-15
    price $47,000
27. 2018-04-03
    listed $49,900 Active

ⓘ 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: $840 · $70/mo
• Projected year-2 tax: $840 · $70/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 ≥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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,331
• − Mortgage interest: −$5,153
• − Property taxes: −$840
• − Insurance: −$460
• − Repairs & maintenance: −$1,787
• − Management: −$1,787
• − Depreciation: −$2,676
• Taxable income: $9,628
• Est. tax owed @ 24.0%: −$2,311
• After-tax cash flow: $8,241/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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 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): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+94.4% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $97,000 BRIGHT MLS
• 2026-04-09 Listed $99,900 BRIGHT MLS
• 2023-12-27 Rental Removed $1,195 BRIGHTMLS
• 2023-11-30 Listed for Rent $1,195 BRIGHTMLS
• 2018-09-17 Sold (MLS) $40,000 TREND
• 2018-09-17 Sold (MLS) $40,000 BRIGHT MLS
• 2018-08-27 Pending — BRIGHT MLS
• 2018-08-27 Pending — TREND
• 2018-08-23 Listed $47,000 TREND
• 2018-08-23 Listed $47,000 BRIGHT MLS
• 2018-08-10 Listing Removed — BRIGHT MLS
• 2018-05-15 Price Changed $47,000 BRIGHT MLS
• 2018-04-03 Listed $49,900 BRIGHT MLS

Property tax history

+3.9%/yr

Latest (2024): $840 · +2.6% YoY. Source: county tax records.