209 Blue Hen Rd · New Castle, DE 19720

$325,000

4 bd · 2.0 ba · 1,875 sqft · SingleFamily public records · 9 Days on market

Built 1977 Est $362k · 10% under

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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 +14.5/30.0
• ARV discount +12.1/15.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple offers. Deadline for offers 2pm Wednesday 7/12. Thank you Back on the Market due to Buyer's Family Emergency. Whether you’re just starting your home ownership journey or downsizing, this lovely home is an opportunity you don’t want to miss! You'll first notice the white picket fence and the beautiful paver driveway that can hold 5 cars. Home boasts 4 nice sized bedrooms and 2 full bathrooms. A newly renovated eat-in kitchen includes granite countertops, 42" Cherry Cabinets, beautiful wood looking ceramic tile floors, a new gas Range will make cooking and entertaining so much more enjoyable. The Primary bedroom and full bath on the first floor makes this easy for one floor living with room to grow! There are laminate floors and carpeting throughout with hardwoods on the stairs. A new roof was just installed to take those worries away. There is a nice sized back yard with an established peach tree and large shed for lots of storage. Located close to all of Delaware’s major routes including 9, 295, 495, 141 and 95, and just a few minutes to the Delaware Memorial Bridge, within walking distance to restaurants, pharmacies, a supermarket, and public transportation this home is perfect for locals and commuters alike! Don’t miss your chance to own this like-new home and book your tour today! Home comes with a 1 yr. HSA home owners warranty! Home to be sold As-Is, Inspections are for informational purposes only.

Key facts

• New ceiling fans
• New water heater
• New ceiling lights

Tags

• NEWLY RENOVATED KITCHEN
• NEW ROOF
• NEW WATER HEATER
• NEW RENOVATED WOOD FLOOR
• NEW CEILING LIGHTS
• NEW CEILING FANS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $69 ($826/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 $256k (21.1% below list).
• Recommended offer: $256k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.7% in New Castle — 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 72/100 on livability (#13 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools D, crime F, commute F.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 41% of the median local income ($75k/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 $10k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $266k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $256,328 (21.1% below list)

Questions for the listing agent

1. Built in 1977 — 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: 0.79% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $361,875
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Bellanca Ln	0.21mi	3/1.5 (-1)	1,758 (-6%)	1mo	$340,000	$193	72
108 Buck Ln	0.29mi	3/2.0 (-1)	1,725 (-8%)	1mo	$340,000	$197	68
151 N Katrin Cir	0.51mi	3/2.5 (-1)	1,800 (-4%)	1mo	$424,000	$236	61
115 Buck Ln	0.24mi	3/2.5 (-1)	1,715 (-8%)	12mo	$330,000	$192	58
138 Killoran Dr	0.32mi	4/2.5	1,700 (-9%)	13mo	$325,000	$191	57
101 N Katrin Cir	0.46mi	3/2.0 (-1)	1,675 (-11%)	4mo	$380,000	$227	53
39 Roxeter Rd	0.53mi	3/2.5 (-1)	1,975 (+5%)	10mo	$335,000	$170	52
127 Dyer Ave	0.67mi	4/1.0	1,675 (-11%)	0mo	$314,900	$188	47
122 Riverview Dr	0.25mi	3/2.0 (-1)	1,625 (-13%)	18mo	$324,999	$200	46
104 Buck Ln	0.31mi	3/1.0 (-1)	1,625 (-13%)	13mo	$270,000	$166	44
149 N Katrin Cir	0.51mi	4/2.5	1,600 (-15%)	16mo	$305,000	$191	37
112 Adair Ave	0.70mi	3/1.5 (-1)	1,725 (-8%)	17mo	$335,000	$194	33

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-48,422
• Equity at exit: $48,459

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-37,089
• Equity at exit: $28,100

Cash invested: $91,000 (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 19720

• Active inventory: 141
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,563 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$116 /mo · $1,397/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $69

Break-even live

Break-even rent $2,476

Max offer price $325,000

Occupancy floor 92%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Arbutus Ave Unit 1 New Castle, DE	3.0	2.0	1600	$2,650	$1.66	18d	1	0.28mi
114 Baldt Ave Historic New Castle, DE	3.0	1.5	1300	$2,200	$1.69	4d	1	1.04mi

Listing history 8 events

1. 2026-06-18
   days on market $325,000 Active 9 DOM
2. 2026-06-17
   days on market $325,000 Active 8 DOM
3. 2026-06-16
   days on market $325,000 Active 7 DOM
4. 2026-06-16
   price $325,000 Active 6 DOM
5. 2026-06-15
   days on market $360,000 Active 6 DOM
6. 2026-06-13
   days on market $360,000 Active 4 DOM
7. 2026-06-10
   remarks 182-char remark
8. 2026-06-10
   listed $360,000 Active 1 DOM

ⓘ 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: $1,397 · $116/mo
• Projected year-2 tax: $1,641 · $137/mo
• Expected delta: +$244/yr (+$20/mo · 17.5%)

ⓘ 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 · 15 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,759
• − Mortgage interest: −$18,205
• − Property taxes: −$1,397
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − Depreciation: −$9,455
• Taxable loss: −$4,844
• Est. tax savings @ 24.0%: +$1,163
• After-tax cash flow: $1,988/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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — New Castle

• Score: 72/100
• State rank: #13
• US rank: #5905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• City population: 62,392
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 62,392
• Household income: $75,403
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1852.0

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 0.67)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 1% Swedish 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -261.00%
• Current HPI: 255.0404
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+1223.5% since first listed

15 events — show timeline

• 2026-06-10 Listed $360,000 FSBO.com
• 2023-08-17 Sold (Public Records) $266,000 Public Records
• 2023-08-16 Sold (MLS) $266,000 BRIGHT MLS
• 2023-07-13 Pending — BRIGHT MLS
• 2023-07-09 Relisted — BRIGHT MLS
• 2023-07-06 Contingent — BRIGHT MLS
• 2023-07-01 Listed $259,000 BRIGHT MLS
• 2023-06-22 Coming Soon $259,000 BRIGHT MLS
• 2009-01-02 Listing Removed — BRIGHT MLS
• 2008-01-02 Listed $184,900 BRIGHT MLS
• 1999-11-24 Sold (Public Records) $84,900 Public Records
• 1999-11-22 Sold (MLS) $84,900 BRIGHT MLS
• 1999-09-18 Listing Removed — BRIGHT MLS
• 1999-08-20 Listed $84,900 BRIGHT MLS
• 1978-11-01 Sold (Public Records) $27,200 Public Records

Property tax history

+3.5%/yr

Latest (2024): $1,397 · +10.0% YoY. Source: county tax records.