18716 Harbeson Rd · Milton, DE 19951

$143,000

4 bd · 1.0 ba · 1,280 sqft · SingleFamily · 155 Days on market

Built 1945 0.76 ac lot $112/sqft · 64% below area

---

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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.2/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

Key facts

• 0.76 acre lot
• Garage
• Built 1945

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Recommended offer: $126k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.2% in Milton — 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 73/100 on livability (#7 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, cost of living B+; Watch: amenities F, commute F.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 122 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($989 loan paydown + $605 appreciation (0.4% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 7.4

CMA / ARV

• ARV (median comp): $395,984
• List price: $143,000
• Delta: -63.89%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18685 Harbeson Rd	0.06mi	3/3.0 (-1)	1,120 (-12%)	2mo	$289,900	$259	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.65×
• Total profit: $26,024
• Equity at exit: $44,574

10-year hold

• IRR: 17.4%
• Equity multiple: 2.99×
• Total profit: $79,734
• Equity at exit: $56,079

Cash invested: $40,040 (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 19951

• Home prices YoY: 0.1%
• Active inventory: 122
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,604 medium
• Mortgage (P&I): −$750
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $430

Break-even live

Break-even rent $1,059

Max offer price $143,000

Occupancy floor 68%

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $143,000 Active 155 DOM
2. 2026-06-17
   days on market $143,000 Active 154 DOM
3. 2026-06-16
   days on market $143,000 Active 153 DOM
4. 2026-06-15
   days on market $143,000 Active 152 DOM
5. 2026-06-14
   days on market $143,000 Active 150 DOM
6. 2026-06-13
   days on market $143,000 Active 149 DOM
7. 2026-06-10
   days on market $143,000 Active 147 DOM
8. 2026-06-09
   days on market $143,000 Active 146 DOM
9. 2026-06-08
   pricedays on market $143,000 Active 145 DOM
10. 2026-06-07
    days on market $146,000 Active 144 DOM
11. 2026-06-02
    days on market $146,000 Active 139 DOM
12. 2026-06-01
    days on market $146,000 Active 138 DOM
13. 2026-05-31
    days on market $146,000 Active 137 DOM
14. 2026-05-30
    days on market $146,000 Active 136 DOM
15. 2026-04-27
    price $146,000 716-char remark

    Show marketing remark (716 chars)

    Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

16. 2026-03-28
    price $148,000 716-char remark

    Show marketing remark (716 chars)

    Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

17. 2026-01-28
    price $142,000 716-char remark

    Show marketing remark (716 chars)

    Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

18. 2026-01-15
    listed $147,000 Active 716-char remark

    Show marketing remark (716 chars)

    Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

19. 2026-01-15
    historical $147,000 716-char remark

    Show marketing remark (716 chars)

    Discover the charm of this delightful 4-bedroom farmhouse, nestled on a generous 0.76-acre lot, or build your brand new home on a septic system that only needs some minor repairs. Outside, enjoy the expansive cleared lot, ideal for gardening, play, or simply soaking in the sun. The detached garage and ample driveway parking provide plenty of space for vehicles and hobbies. Located in a vibrant community, this home is just minutes from local parks, schools, and essential public services, making it a perfect spot for those seeking a balanced lifestyle. Embrace the tranquility of suburban living while being close to everything you need. This property is not just a home; it's a lifestyle waiting to be embraced!

20. 2024-08-28
    soldstatus $130,000
21. 2024-08-27
    soldstatus $130,000 Closed 1303-char remark

    Show marketing remark (1303 chars)

    Discover the charm and potential of this 1945 farm house, nestled on a level 0.7 acre lot with mature trees and open grassy yard space in Harbeson, DE. Just minutes from Delaware's picturesque beaches, Lewes, Milton, and Georgetown, this historic property offers an opportunity for investors to transform its solid bones into a modern gem. With 1280 square feet of living space, the home features four bedrooms and one bathroom, with ample closet space throughout. The main level boasts a versatile bedroom/den/home office option, while the second floor offers three well-sized bedrooms. A pantry and main level laundry room complete the main level layout. While the house is in need of renovations, it provides a unique canvas for buyers to unleash their creativity and design vision. An open-layout modernization seems possible with some imagination and effort. Own a piece of history while bringing your personal touch to this charming property. This property is being sold in as-is condition. Any Inspections are for informational purposes only. All personal property in the home will be the responsibility of the buyer. This is an opportunity not to be missed for those looking for a project to call their own! Schedule your private showing today to envision the possibilities at 18716 Harbeson Rd!

22. 2024-08-06
    historical Active Under Contract 1303-char remark

    Show marketing remark (1303 chars)

    Discover the charm and potential of this 1945 farm house, nestled on a level 0.7 acre lot with mature trees and open grassy yard space in Harbeson, DE. Just minutes from Delaware's picturesque beaches, Lewes, Milton, and Georgetown, this historic property offers an opportunity for investors to transform its solid bones into a modern gem. With 1280 square feet of living space, the home features four bedrooms and one bathroom, with ample closet space throughout. The main level boasts a versatile bedroom/den/home office option, while the second floor offers three well-sized bedrooms. A pantry and main level laundry room complete the main level layout. While the house is in need of renovations, it provides a unique canvas for buyers to unleash their creativity and design vision. An open-layout modernization seems possible with some imagination and effort. Own a piece of history while bringing your personal touch to this charming property. This property is being sold in as-is condition. Any Inspections are for informational purposes only. All personal property in the home will be the responsibility of the buyer. This is an opportunity not to be missed for those looking for a project to call their own! Schedule your private showing today to envision the possibilities at 18716 Harbeson Rd!

23. 2024-07-23
    listed $119,999 Active 1303-char remark

    Show marketing remark (1303 chars)

    Discover the charm and potential of this 1945 farm house, nestled on a level 0.7 acre lot with mature trees and open grassy yard space in Harbeson, DE. Just minutes from Delaware's picturesque beaches, Lewes, Milton, and Georgetown, this historic property offers an opportunity for investors to transform its solid bones into a modern gem. With 1280 square feet of living space, the home features four bedrooms and one bathroom, with ample closet space throughout. The main level boasts a versatile bedroom/den/home office option, while the second floor offers three well-sized bedrooms. A pantry and main level laundry room complete the main level layout. While the house is in need of renovations, it provides a unique canvas for buyers to unleash their creativity and design vision. An open-layout modernization seems possible with some imagination and effort. Own a piece of history while bringing your personal touch to this charming property. This property is being sold in as-is condition. Any Inspections are for informational purposes only. All personal property in the home will be the responsibility of the buyer. This is an opportunity not to be missed for those looking for a project to call their own! Schedule your private showing today to envision the possibilities at 18716 Harbeson Rd!

24. 2012-10-12
    soldstatus $37,000
25. 2012-07-17
    listed $42,500
26. 2003-10-01
    soldstatus $126,000

ⓘ 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: $324 · $27/mo
• Projected year-2 tax: $577 · $48/mo
• Expected delta: +$253/yr (+$21/mo · 77.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,244
• − Mortgage interest: −$8,010
• − Property taxes: −$324
• − Insurance: −$715
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$4,160
• Taxable income: $2,955
• Est. tax owed @ 24.0%: −$709
• After-tax cash flow: $4,455/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: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

Livability — Milton

• Score: 73/100
• State rank: #7
• US rank: #5043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,957

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 5% Asian 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Scotch-Irish 2% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Other Indo-European 6% Spanish 3% Chinese 2%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.42%
• Current HPI: 358.9429
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+15.9% since first listed

12 events — show timeline

• 2026-04-27 Price Changed $146,000 BRIGHT MLS
• 2026-03-28 Price Changed $148,000 BRIGHT MLS
• 2026-01-28 Price Changed $142,000 BRIGHT MLS
• 2026-01-15 Listed $147,000 BRIGHT MLS
• 2026-01-15 Coming Soon $147,000 BRIGHT MLS
• 2024-08-28 Sold (Public Records) $130,000 Public Records
• 2024-08-27 Sold (MLS) $130,000 BRIGHT MLS
• 2024-08-06 Contingent — BRIGHT MLS
• 2024-07-23 Listed $119,999 BRIGHT MLS
• 2012-10-12 Sold (MLS) $37,000 BRIGHT MLS
• 2012-07-17 Listed $42,500 BRIGHT MLS
• 2003-10-01 Sold (Public Records) $126,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $324 · +10.6% YoY. Source: county tax records.