428 S Claymont St · Wilmington, DE 19801

$129,900

3 bd · 1.0 ba · 950 sqft · Townhouse public records · 114 Days on market

Built 1900 1,307 sqft lot $137/sqft · at area comps Est $135k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 1% rule +8.8/10.0
• 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

Investors Alert! Come check out this low maintenance home located in the south bridge section of Wilmington just minutes from the river front area and downtown Wilmington. There are 2 nice size bedrooms with 1 large full bathroom. On the main floor you will find a formal dining room, living room and an eat-in kitchen. This home is on a quiet street and minutes from public transportation. There is a section 8 tenant moving in on May 1, 2025 paying $1,360.00/month. All inspections and certifications will be complete prior to tenant moving in. All appointments must be confirmed with 48 hours notice. This property is being sold in as-is condition.

Key facts

• South bridge section
• Quiet street
• Formal dining room

Tags

• SOUTH BRIDGE SECTION
• MINUTES FROM RIVER FRONT
• FORMAL DINING ROOM
• EAT-IN KITCHEN
• QUIET STREET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 41% 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 $898 of loan paydown is wiped out by about $4k 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 114 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 19y 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.
• Current owner paid $8k; list at $130k implies a 1632% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (median comp): $134,815
• List price: $129,900
• Delta: -3.65%
• 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
338 S Claymont St	0.06mi	2/1.0 (-1)	950 (0%)	1mo	$137,900	$145	91
434 Queen St	0.04mi	3/1.5	1,025 (+8%)	2mo	$105,000	$102	81
424 S Claymont St	0.00mi	2/1.0 (-1)	900 (-5%)	15mo	$85,000	$94	74
304 S Claymont St	0.11mi	3/1.0	1,075 (+13%)	5mo	$85,000	$79	69
415 S Heald St	0.11mi	2/1.0 (-1)	975 (+3%)	22mo	$80,000	$82	67
1232 Peach St	0.20mi	3/1.0	900 (-5%)	22mo	$125,000	$139	64
1237 Lobdell St	0.14mi	2/1.0 (-1)	1,050 (+10%)	15mo	$154,000	$147	59
302 New Castle Ave	0.14mi	2/1.0 (-1)	1,025 (+8%)	24mo	$128,000	$125	56
106 S Heald St	0.21mi	3/1.0	1,075 (+13%)	16mo	$130,000	$121	55
806 E Eighth St	0.73mi	2/1.0 (-1)	1,000 (+5%)	8mo	$128,000	$128	46
425 N Church St	0.59mi	2/1.5 (-1)	925 (-3%)	19mo	$95,000	$103	45
721 E 6th St	0.66mi	2/1.0 (-1)	1,075 (+13%)	23mo	$85,000	$79	23

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: -9.2%
• Equity multiple: 0.67×
• Total profit: $-12,047
• Equity at exit: $19,369

10-year hold

• IRR: -2.2%
• Equity multiple: 0.86×
• Total profit: $-5,012
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,791 high
• Mortgage (P&I): −$681
• Tax from tax record: −$42 /mo · $505/yr
• Insurance: −$54
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $177

Break-even live

Break-even rent $1,567

Max offer price $129,900

Occupancy floor 85%

Sensitivity live

Price	-10% $251	-5% $214	+0% $177	+5% $140	+10% $103
Rent	-10% $35	-5% $106	+0% $177	+5% $248	+10% $318
Rate	-1.0pp $242	-0.5pp $210	base $177	+0.5pp $143	+1.0pp $109

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 S Claymont St Wilmington, DE	2.0	1.0	1000	$1,399	$1.40	17d	1	0.14mi
606 S Claymont St Wilmington, DE	2.0	1.0	1000	$1,399	$1.40	19d	1	0.14mi
401 A St Wilmington, DE	2.0	1.0–2.0	716	$2,605	$3.64	0d	12	0.48mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	2d	13	0.77mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	11d	1	0.79mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	17d	1	0.79mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	0d	1	0.84mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	19d	1	0.96mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	2d	1	0.96mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	44d	1	1.06mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	21d	1	1.10mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	44d	1	1.10mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	0d	9	1.11mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	1.16mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	1.17mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	44d	5	1.17mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	1.19mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	6d	1	1.21mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	45d	1	1.22mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	6d	1	1.23mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	2d	62	1.26mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	0d	1	1.28mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	1.29mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	44d	1	1.33mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	44d	1	1.33mi
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	0d	1	1.37mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	44d	1	1.43mi
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	44d	1	1.44mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	44d	1	1.46mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	25d	1	1.49mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	21d	1	1.49mi

Listing history 41 events

1. 2026-06-18
   days on market $129,900 Active 114 DOM
2. 2026-06-17
   days on market $129,900 Active 113 DOM
3. 2026-06-16
   days on market $129,900 Active 112 DOM
4. 2026-06-15
   days on market $129,900 Active 111 DOM
5. 2026-06-13
   days on market $129,900 Active 109 DOM
6. 2026-06-13
   days on market $129,900 Active 108 DOM
7. 2026-06-09
   days on market $129,900 Active 105 DOM
8. 2026-06-08
   days on market $129,900 Active 104 DOM
9. 2026-06-07
   days on market $129,900 Active 103 DOM
10. 2026-06-04
    days on market $129,900 Active 100 DOM
11. 2026-06-03
    days on market $129,900 Active 99 DOM
12. 2026-06-02
    days on market $129,900 Active 98 DOM
13. 2026-06-01
    days on market $129,900 Active 97 DOM
14. 2026-05-31
    days on market $129,900 Active 96 DOM
15. 2026-02-24
    listed $129,900 Active 651-char remark

    Show marketing remark (651 chars)

    Investors Alert! Come check out this low maintenance home located in the south bridge section of Wilmington just minutes from the river front area and downtown Wilmington. There are 2 nice size bedrooms with 1 large full bathroom. On the main floor you will find a formal dining room, living room and an eat-in kitchen. This home is on a quiet street and minutes from public transportation. There is a section 8 tenant moving in on May 1, 2025 paying $1,360.00/month. All inspections and certifications will be complete prior to tenant moving in. All appointments must be confirmed with 48 hours notice. This property is being sold in as-is condition.

16. 2026-01-30
    historical
17. 2025-11-16
    listed $129,900 Active
18. 2025-04-26
    status Pending
19. 2025-04-26
    historical
20. 2025-04-22
    price $129,000
21. 2025-04-20
    listed $123,000 Active
22. 2025-03-28
    historical
23. 2025-02-27
    status Active
24. 2025-02-05
    historical Active Under Contract
25. 2025-02-05
    status Active
26. 2025-01-31
    status Pending
27. 2025-01-06
    price $123,000
28. 2024-12-13
    listed $125,000 Active
29. 2024-09-26
    historical $1,275
30. 2024-09-05
    listed $1,275
31. 2011-09-30
    soldstatus $7,500
32. 2011-09-30
    soldstatus $7,500
33. 2011-08-11
    historical
34. 2010-11-21
    listed $13,000
35. 2010-11-21
    listed $13,000
36. 2009-08-07
    historical
37. 2008-08-14
    listed $67,000
38. 2008-04-10
    historical
39. 2008-03-10
    listed $79,900
40. 2007-11-09
    soldstatus $53,000
41. 2007-06-08
    listed $53,000

ⓘ 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: $505 · $42/mo
• Projected year-2 tax: $629 · $52/mo
• Expected delta: +$124/yr (+$10/mo · 24.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 98% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,491
• − Mortgage interest: −$7,276
• − Property taxes: −$505
• − Insurance: −$6,175
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$3,779
• Taxable income: $317
• Est. tax owed @ 24.0%: −$76
• After-tax cash flow: $2,048/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

+145.1% since first listed

27 events — show timeline

• 2026-02-24 Listed $129,900 BRIGHT MLS
• 2026-01-30 Listing Removed — BRIGHT MLS
• 2025-11-16 Listed $129,900 BRIGHT MLS
• 2025-04-26 Pending — BRIGHT MLS
• 2025-04-26 Listing Removed — BRIGHT MLS
• 2025-04-22 Price Changed $129,000 BRIGHT MLS
• 2025-04-20 Listed $123,000 BRIGHT MLS
• 2025-03-28 Listing Removed — BRIGHT MLS
• 2025-02-27 Relisted — BRIGHT MLS
• 2025-02-05 Contingent — BRIGHT MLS
• 2025-02-05 Relisted — BRIGHT MLS
• 2025-01-31 Pending — BRIGHT MLS
• 2025-01-06 Price Changed $123,000 BRIGHT MLS
• 2024-12-13 Listed $125,000 BRIGHT MLS
• 2024-09-26 Rental Removed $1,275 RENTALBEAST
• 2024-09-05 Listed for Rent $1,275 RENTALBEAST
• 2011-09-30 Sold (MLS) $7,500 TREND
• 2011-09-30 Sold (MLS) $7,500 BRIGHT MLS
• 2011-08-11 Listing Removed — BRIGHT MLS
• 2010-11-21 Listed $13,000 TREND
• 2010-11-21 Listed $13,000 BRIGHT MLS
• 2009-08-07 Listing Removed — BRIGHT MLS
• 2008-08-14 Listed $67,000 BRIGHT MLS
• 2008-04-10 Listing Removed — BRIGHT MLS
• 2008-03-10 Listed $79,900 BRIGHT MLS
• 2007-11-09 Sold (MLS) $53,000 BRIGHT MLS
• 2007-06-08 Listed $53,000 BRIGHT MLS

Property tax history

-8.1%/yr

Latest (2024): $505 · +2.6% YoY. Source: county tax records.