908 Marshall St · Wilmington, DE 19805

$110,000

2 bd · 1.0 ba · 775 sqft · Townhouse public records · 43 Days on market

Built 1914 871 sqft lot Est $102k · 8% over

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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
• 1% rule +9.6/10.0
• ARV discount +4.1/15.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

Key facts

• Open floor plan
• Space for storage
• Partial basement

Tags

• INTERIOR UNIT TOWN HOME
• OPEN FLOOR PLAN
• PARTIAL BASEMENT
• LAUNDRY HOOK UPS
• SPACE FOR STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 fast (+6.3%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 32% 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 $761 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 + 6.3% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 31y 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 1914 — 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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.46% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.41%
• DSCR: 2.04
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $102,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 Marshall St	0.00mi	2/1.0	775 (0%)	1mo	$95,000	$123	99
801 Wright St	0.09mi	2/1.0	750 (-3%)	8mo	$95,000	$127	83
4 Lower Oak St	0.12mi	2/1.0	850 (+10%)	1mo	$112,500	$132	77
1120 Beech St	0.20mi	2/1.0	825 (+6%)	6mo	$112,500	$136	75
2 Lower Oak St	0.12mi	2/1.5	850 (+10%)	1mo	$112,500	$132	75
11 Cedar St	0.07mi	2/1.0	875 (+13%)	4mo	$110,000	$126	71
116 Lower Oak St	0.09mi	2/2.0	875 (+13%)	8mo	$95,000	$109	64
420 S Van Buren St	0.32mi	2/1.0	875 (+13%)	7mo	$67,500	$77	58
105 Christina Lndg #704	0.70mi	1/1.0 (-1)	825 (+6%)	1mo	$225,000	$273	51
105-Unit Christina Lndg #307	0.71mi	1/1.0 (-1)	825 (+6%)	2mo	$225,000	$273	49
1329 Chestnut St	0.50mi	2/1.0	875 (+13%)	8mo	$131,500	$150	48
117 N Dupont St	0.74mi	2/1.0	875 (+13%)	5mo	$138,000	$158	40

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: 20.0%
• Equity multiple: 1.85×
• Total profit: $26,032
• Equity at exit: $16,401

10-year hold

• IRR: 30.3%
• Equity multiple: 4.13×
• Total profit: $96,496
• Equity at exit: $9,511

Cash invested: $30,800 (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: 167
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,610 high
• Mortgage (P&I): −$577
• Tax from tax record: −$49 /mo · $582/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $601

Break-even live

Break-even rent $850

Max offer price $110,000

Occupancy floor 58%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	43d	1	0.08mi
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	3d	1	0.12mi
1401 Maryland Ave Wilmington, DE	1.0	1.0	612	$1,275	$2.08	43d	1	0.22mi
1507 Coleman St Wilmington, DE	2.0	1.0	650	$1,495	$2.30	24d	1	0.27mi
401 Justison St Wilmington, DE	1.0	1.0	787	$1,855	$2.36	1d	13	0.39mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.41mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	3d	1	0.42mi
545 Homestead Rd Wilmington, DE	2.0	1.0	800	$1,399	$1.75	43d	1	0.51mi
1600 Bonwood Rd Wilmington, DE	1.0	1.0	702	$1,290	$1.84	2d	1	0.51mi
1600 Bonwood Rd Wilmington, DE	2.0	2.0	970	$1,614	$1.66	15d	1	0.51mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	20d	1	0.52mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	24d	1	0.55mi
207 S DuPont St Wilmington, DE	1.0	1.5	1000	$1,495	$1.50	18d	1	0.67mi
101 Avenue of the Arts Wilmington, DE	1.0	1.0	726	$2,195	$3.02	1d	3	0.68mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	18d	1	0.69mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	16d	1	0.72mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	10d	1	0.72mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	1d	13	0.76mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	0.83mi
219 S Union St Unit B Wilmington, DE	1.0	1.0	1075	$1,150	$1.07	24d	1	0.84mi
210 N Market St Wilmington, DE	1.0	1.0	746	$1,750	$2.34	2d	6	0.91mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.91mi
225 W 4th St Unit 1 Wilmington, DE	1.0	1.0	750	$1,399	$1.87	43d	1	0.91mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	43d	1	0.91mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	0.92mi
1215 W 7th St Apt 1 Wilmington, DE	1.0	1.0	1000	$1,275	$1.27	18d	1	0.94mi
517 N West St Wilmington, DE	1.0	1.0	646	$1,295	$2.00	24d	1	0.94mi
2 W 4th St Wilmington, DE	1.0	1.0	623	$1,908	$3.06	3d	5	0.95mi
600 N Washington St Wilmington, DE	1.0	1.0	700	$1,275	$1.82	43d	1	0.95mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	43d	1	0.96mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	24d	1	0.97mi
201 New Rd Wilmington, DE	2.0	1.0	800	$1,350	$1.69	2d	1	0.97mi
1 Matthes Ave Wilmington, DE	1.0	1.0	600	$1,325	$2.21	20d	1	0.98mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	43d	1	0.98mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	4d	1	0.98mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	43d	1	0.99mi
800 N Adams St Wilmington, DE	1.0	1.0	650	$1,195	$1.84	43d	1	1.00mi
401 A St Wilmington, DE	2.0	1.0–2.0	716	$2,605	$3.64	1d	13	1.00mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	21d	1	1.02mi
822 N Adams St Wilmington, DE	1.0	1.0	650	$1,225	$1.88	43d	1	1.06mi

Listing history 24 events

1. 2026-04-21
   status Pending
2. 2026-04-21
   soldstatus $1,575,100
3. 2026-03-09
   listed $110,000 Active
4. 2025-05-19
   historical
5. 2025-04-21
   historical
6. 2021-10-06
   soldstatus $1,240,000
7. 2012-01-31
   soldstatus $24,000 751-char remark

   Show marketing remark (751 chars)

   This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

8. 2012-01-31
   soldstatus $24,000

   Show marketing remark (751 chars)

   This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

9. 2011-12-26
   historical 751-char remark

   Show marketing remark (751 chars)

   This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

10. 2011-12-10
    listed $24,500 751-char remark

    Show marketing remark (751 chars)

    This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

11. 2011-12-10
    listed $24,500

    Show marketing remark (751 chars)

    This is a Fannie Mae property and is approved for HomePath Renovation Financing. Visit the website, our website under Broker Resources, or ask listing broker for more information. This two bedroom attached town home is located conveniently in Wilmington's Browntown community, within walking distance to Riverfront attractions and nightlife. Wide open floor plan with eat in kitchen open to living area. FirstLookTM preference for owner occupants and public entities for first 15 days, visit website for details. Corporate addendum required with offer and should include pre-approval (if financed) or proof of funds (if cash) ~~~ required if an offer is accepted. For contract package and further instructions visit our website under broker resources.

12. 2006-05-22
    soldstatus $82,000
13. 2006-05-15
    soldstatus $82,000
14. 2006-04-11
    historical
15. 2006-04-04
    historical
16. 2006-04-03
    listed $82,000
17. 2006-01-30
    listed $79,900
18. 2005-12-08
    historical
19. 2005-07-19
    listed $86,900
20. 2002-10-28
    soldstatus $46,320
21. 2002-04-06
    listed $46,320
22. 1996-08-27
    historical
23. 1995-11-27
    listed $63,900
24. 1990-01-01
    soldstatus $59,600

ⓘ 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: $582 · $49/mo
• Projected year-2 tax: $610 · $51/mo
• Expected delta: +$28/yr (+$2/mo · 4.8%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,325
• − Mortgage interest: −$6,162
• − Property taxes: −$582
• − Insurance: −$550
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$3,200
• Taxable income: $5,738
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $5,835/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): 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

+2542.8% since first listed

24 events — show timeline

• 2026-04-21 Pending — BRIGHT MLS
• 2026-04-21 Sold (Public Records) $1,575,100 Public Records
• 2026-03-09 Listed $110,000 BRIGHT MLS
• 2025-05-19 Listing Removed — BRIGHT MLS
• 2025-04-21 Coming Soon — BRIGHT MLS
• 2021-10-06 Sold (Public Records) $1,240,000 Public Records
• 2012-01-31 Sold (MLS) $24,000 TREND
• 2012-01-31 Sold (MLS) $24,000 BRIGHT MLS
• 2011-12-26 Listing Removed — BRIGHT MLS
• 2011-12-10 Listed $24,500 TREND
• 2011-12-10 Listed $24,500 BRIGHT MLS
• 2006-05-22 Sold (Public Records) $82,000 Public Records
• 2006-05-15 Sold (MLS) $82,000 BRIGHT MLS
• 2006-04-11 Listing Removed — BRIGHT MLS
• 2006-04-04 Listing Removed — BRIGHT MLS
• 2006-04-03 Listed $82,000 BRIGHT MLS
• 2006-01-30 Listed $79,900 BRIGHT MLS
• 2005-12-08 Listing Removed — BRIGHT MLS
• 2005-07-19 Listed $86,900 BRIGHT MLS
• 2002-10-28 Sold (MLS) $46,320 BRIGHT MLS
• 2002-04-06 Listed $46,320 BRIGHT MLS
• 1996-08-27 Listing Removed — BRIGHT MLS
• 1995-11-27 Listed $63,900 BRIGHT MLS
• 1990-01-01 Sold (Public Records) $59,600 Public Records

Property tax history

+3.9%/yr

Latest (2024): $582 · +2.6% YoY. Source: county tax records.