131 Pine Cone Dr #131 · Cheswold, DE 19901

$93,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily · 129 Days on market

Built 2003 Good condition $79/sqft · 11% below area Est $105k · 11% under ↓ 17% since listing

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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 +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

Key facts

• 3 parking spots
• Built 2003
• Listed 128 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $93k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 3.1% in Cheswold — 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 62/100 on livability (#62 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Dover Elementary School (math 12% / reading 27%, grade F, #78 of 105 statewide, top 78%, 315 students, 0% FRL); Central Middle School (math 12% / reading 31%, grade F, #27 of 36 statewide, top 77%, 860 students, 0% FRL); Dover High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,771 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.0%/yr); 190 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 36% of the median local income ($66k/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 $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% 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 129 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $81,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 2.17% ✓
• Cap rate: 18.57%
• Cash-on-cash: 43.85%
• DSCR: 2.95
• GRM: 3.8

CMA / ARV

• ARV (median comp): $105,081
• List price: $93,000
• Delta: -10.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
345 Norway Dr #345	0.12mi	3/2.0	1,216 (+3%)	3mo	$86,500	$71	86
174 Humpsman Dr #150	0.34mi	3/2.0	1,216 (+3%)	6mo	$85,000	$70	74
108 S Dayflower Ct #57	0.28mi	3/2.0	1,064 (-10%)	2mo	$55,000	$52	70
25 July Hound Ct	0.22mi	3/2.0	1,248 (+6%)	18mo	$128,900	$103	64
196 Main St	0.56mi	3/2.0	1,104 (-6%)	10mo	$260,000	$236	55
84 Union St	0.31mi	3/2.0	1,296 (+10%)	18mo	$270,000	$208	54
185 Winding Carriage Ln	0.36mi	2/2.0 (-1)	1,314 (+12%)	9mo	$339,000	$258	52
11 Fairmont Ln	0.43mi	2/2.0 (-1)	1,266 (+8%)	13mo	$325,000	$257	51
178 Main St	0.56mi	3/2.0	1,248 (+6%)	18mo	$285,000	$228	49
86 Piedmont Dr	0.52mi	3/2.0	1,056 (-10%)	15mo	$98,000	$93	46
310 Main St	0.54mi	3/2.0	1,344 (+14%)	9mo	$299,000	$222	43
152 Salt Creek Dr	0.71mi	2/2.0 (-1)	1,340 (+14%)	10mo	$249,000	$186	30

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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.68×
• Total profit: $43,620
• Equity at exit: $13,867

10-year hold

• IRR: 45.6%
• Equity multiple: 5.16×
• Total profit: $108,303
• Equity at exit: $8,041

Cash invested: $26,040 (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 19901

• Rents YoY: 2.0%
• Active inventory: 190
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,018 medium
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $952

Break-even live

Break-even rent $814

Max offer price $93,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,016	-5% $984	+0% $952	+5% $920	+10% $887
Rent	-10% $792	-5% $872	+0% $952	+5% $1,031	+10% $1,111
Rate	-1.0pp $998	-0.5pp $975	base $952	+0.5pp $928	+1.0pp $903

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   pricedays on market $93,000 Active 129 DOM
2. 2026-06-19
   days on market $94,500 Active 127 DOM
3. 2026-06-18
   days on market $94,500 Active 126 DOM
4. 2026-06-17
   days on market $94,500 Active 125 DOM
5. 2026-06-17
   price $94,500 Active 124 DOM
6. 2026-06-16
   days on market $98,000 Active 124 DOM
7. 2026-06-15
   days on market $98,000 Active 123 DOM
8. 2026-06-14
   days on market $98,000 Active 121 DOM
9. 2026-06-13
   days on market $98,000 Active 120 DOM
10. 2026-06-10
    days on market $98,000 Active 118 DOM
11. 2026-06-09
    days on market $98,000 Active 117 DOM
12. 2026-06-09
    price $98,000 Active 116 DOM
13. 2026-06-08
    days on market $100,000 Active 116 DOM
14. 2026-06-07
    days on market $100,000 Active 115 DOM
15. 2026-06-02
    days on market $100,000 Active 110 DOM
16. 2026-06-01
    days on market $100,000 Active 109 DOM
17. 2026-05-31
    days on market $100,000 Active 108 DOM
18. 2026-05-30
    days on market $100,000 Active 107 DOM
19. 2026-05-13
    price $100,000 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

20. 2026-04-20
    price $105,500 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

21. 2026-03-12
    price $110,500 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

22. 2026-02-20
    price $116,500 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

23. 2026-02-18
    price $119,995 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

24. 2026-02-13
    listed $119,999 Active 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

25. 2026-02-08
    historical $119,999 752-char remark

    Show marketing remark (752 chars)

    Completely renovated in 2024, this beautifully updated double-wide home is tucked away in the back of a well-maintained, desirable community—offering privacy and peace of mind. Nearly everything is new: roof (2024), HVAC (2024), all appliances (2024), plus a fully remodeled kitchen and bathrooms finished with modern touches. Stylish laminate plank flooring runs throughout, creating a cohesive, low-maintenance living space. Propane heat keeps utility costs efficient and comfortable. Lot rent is $636/month and includes trash, water, and sewer. This move-in-ready home delivers the feel of new construction at an affordable price point—just unpack and enjoy. Price drop is compensate for old ceiling damage from prior to roof replacement

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,218
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$1,937
• − Management: −$1,937
• − Depreciation: −$2,705
• Taxable income: $10,568
• Est. tax owed @ 24.0%: −$2,536
• After-tax cash flow: $8,883/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in-ready home offers a fresh, updated interior with modern appliances and a new roof, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New flooring in bathrooms — Modernizes and increases value
• Both New kitchen appliances — Modernizes and increases value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New flooring in bathrooms — Modernizes and increases value ↑
• Both New kitchen appliances — Modernizes and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Cheswold

• Score: 62/100
• State rank: #62
• US rank: #16254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 82,184 people
• City population: 176
• Metro: Dover, DE
• Population (ZIP): 37,763
• Household income: $66,388
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1320.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.29%
• Current HPI: 199.5132
• Rent YoY: ▲ 2.03%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

-16.7% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $100,000 BRIGHT MLS
• 2026-04-20 Price Changed $105,500 BRIGHT MLS
• 2026-03-12 Price Changed $110,500 BRIGHT MLS
• 2026-02-20 Price Changed $116,500 BRIGHT MLS
• 2026-02-18 Price Changed $119,995 BRIGHT MLS
• 2026-02-13 Listed $119,999 BRIGHT MLS
• 2026-02-08 Coming Soon $119,999 BRIGHT MLS