309 Persimmon Cir W #309 · Dover, DE 19901

$149,900

2 bd · 2.0 ba · 1,400 sqft · SingleFamily · 33 Days on market

Built 2003 Good condition $107/sqft · 7% above area Est $140k · 7% over $1/mo HOA ↓ 12% since listing

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Why this score? — see what drove the C- 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 +21.3/30.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• ARV discount +4.2/15.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

Key facts

• 2 garage spots
• Community pool
• Built 2003

Property features AI

Finance

• Other: Not in a federal flood zone; Accessible features: 36+ inch wide halls; Pets allowed (cats OK, dogs OK case by case)
• Financial info: Property managed by a property manager; Owned under land lease
• HOA & community: HOA fee $10 annually; Ground rent / land lease exists (land lease $960 monthly; 99 years remaining)

Exterior

• Parking: Attached front-entry garage with automatic door; Oversized garage (2 spaces); Driveway parking
• Utilities: Public water; Public sewer; Natural gas available; Cable TV available; Electric service (200+ amp); Electric hot water
• Home design: Detached single-story home; Main entrance faces east; Senior community (55+)
• Construction: Built by Marlette; Vinyl siding; Architectural shingle roof; Crawl space foundation with block; No basement
• Exterior features: Street lights; Underground lawn sprinkler; Community pool (heated, filtered, in-ground, vinyl)

Interior

• Kitchen: Disposal; Icemaker; Microwave; Refrigerator; Stove; Dishwasher
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet
• Bathrooms: Two full bathrooms (including two full on main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans; 200+ amp electrical service with circuit breakers
• Interior features: Ceiling fans; Crown molding; Entry-level bedroom; Formal separate dining room; Eat-in kitchen; Kitchen island; Drywall walls and ceilings; Has fireplace (corner, gas/propane)
• Laundry & utility: Washer and dryer on the main floor; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime 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.
• Market conditions: Rents rising (+2.0%/yr); 184 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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: 1.06% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $139,763
• List price: $149,900
• Delta: 7.25%
• 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
106 Kurt Dr #106	0.09mi	2/2.0	1,408 (+1%)	6mo	$120,000	$85	90
549 Weaver Dr #549	0.06mi	2/2.0	1,408 (+1%)	8mo	$115,000	$82	89
914 Jonathan Dr #914	0.08mi	3/2.0 (+1)	1,350 (-4%)	4mo	$169,500	$126	82
222 Persimmon Cir W #222	0.13mi	3/2.0 (+1)	1,408 (+1%)	9mo	$131,000	$93	80
322 Persimmon Cir W #322	0.07mi	3/2.0 (+1)	1,296 (-7%)	3mo	$125,000	$96	77
710 Mcginnis Dr #710	0.15mi	3/2.0 (+1)	1,350 (-4%)	7mo	$125,000	$93	76
51 Karen Pl	0.26mi	3/2.0 (+1)	1,344 (-4%)	4mo	$235,000	$175	73
425 Moore Pl #425	0.20mi	3/2.0 (+1)	1,296 (-7%)	2mo	$124,000	$96	72
56 Primrose Dr E	0.30mi	3/2.0 (+1)	1,512 (+8%)	1mo	$223,000	$147	67
19 Karen Pl	0.21mi	3/2.0 (+1)	1,248 (-11%)	2mo	$208,000	$167	66
120 Kurt Dr	0.18mi	3/2.0 (+1)	1,296 (-7%)	11mo	$110,000	$85	65
206 Persimmon Cir	0.28mi	3/2.0 (+1)	1,512 (+8%)	10mo	$215,000	$142	60

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: -7.7%
• Equity multiple: 0.72×
• Total profit: $-11,792
• Equity at exit: $22,351

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,684
• Equity at exit: $12,961

Cash invested: $41,972 (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: 184
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,591 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$1
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $220

Break-even live

Break-even rent $1,313

Max offer price $149,900

Occupancy floor 81%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Persimmon Tree Ln Dover, DE	2.0	2.0	940	$1,477	$1.57	43d	1	0.20mi
6000 Winners Cir Dover, DE	2.0	2.0	1269	$1,920	$1.51	43d	10	1.18mi
820 Carvel Dr Dover, DE	1.0–2.0	1.0–1.5	782	$1,435	$1.83	43d	12	1.33mi
91 Chatham Ct Dover, DE	2.0	2.5	1530	$1,750	$1.14	43d	1	1.37mi

HOA detail

• Monthly dues: $1 · $12/yr
• Likely covers: gaspoolgym

Listing history 25 events

1. 2026-06-19
   days on market $149,900 Active 33 DOM
2. 2026-06-18
   days on market $149,900 Active 32 DOM
3. 2026-06-17
   days on market $149,900 Active 31 DOM
4. 2026-06-16
   days on market $149,900 Active 30 DOM
5. 2026-06-15
   days on market $149,900 Active 29 DOM
6. 2026-06-14
   days on market $149,900 Active 27 DOM
7. 2026-06-13
   days on market $149,900 Active 26 DOM
8. 2026-06-10
   days on market $149,900 Active 24 DOM
9. 2026-06-09
   days on market $149,900 Active 23 DOM
10. 2026-06-08
    days on market $149,900 Active 22 DOM
11. 2026-06-07
    days on market $149,900 Active 21 DOM
12. 2026-06-02
    days on market $149,900 Active 16 DOM
13. 2026-06-01
    days on market $149,900 Active 15 DOM
14. 2026-05-31
    days on market $149,900 Active 14 DOM
15. 2026-05-30
    days on market $149,900 Active 13 DOM
16. 2026-05-18
    listed $149,900 Active 841-char remark
17. 2026-05-12
    historical $149,900 841-char remark
18. 2023-05-24
    soldstatus $155,000 Closed 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

19. 2023-04-28
    status Pending 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

20. 2023-04-19
    historical Active Under Contract 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

21. 2023-02-17
    price $165,000 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

22. 2022-11-11
    status Active 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

23. 2022-11-02
    historical Active Under Contract 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

24. 2022-09-14
    listed $170,000 Active 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

25. 2022-09-10
    historical $170,000 951-char remark

    Show marketing remark (951 chars)

    A rare 2 car garage in Wild Meadows, a premier active adult community. Victoria floor plan offers formal dining room, living room w/ gas fireplace, large master with a walk in closet and full bath. A second nice size bedroom and another full bath , formal dining room, large kitchen w/ island, pantry and breakfast area. French doors lead to finished 3 season room. Garage has been this man's workshop and is sheet rocked . Architectural shingle roof. Home is immaculately maintained by original owners. Monthly land lease of $771 includes lawn mowing, heated pool, club house with gym, hot tub, library, bocce, horseshoes and so many activities. Seller will give $5000 credit for painting and carpet! Convenient location close to shopping, hospitals, historic Dover, Route 1 exit 104 make a short trip to Delaware beaches and Ocean City. Easy travel to Philly, NYC and Washington DC airports. Buyer must apply and be approved by Wild Meadows/RHP.

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

Taxation est. · year 1

• Rental income: $19,092
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − HOA: −$12
• − Depreciation: −$4,361
• Taxable income: $270
• Est. tax owed @ 24.0%: −$65
• After-tax cash flow: $2,575/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 · 1 photo

Good 75/100 Cosmetic rehab

This single-family home in Wild Meadows is in good condition with a good roof and exterior. It has a well-maintained lawn and landscaping, and the interior is in good condition. The home is move-in ready with minor updates that could significantly increase its value.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace original carpet with hardwood or tile — Hardwood or tile flooring increases value and is easier to maintain
• Both Install new window treatments — New window treatments improve curb appeal and can increase home value
• Both Upgrade kitchen appliances — Modern appliances can increase both resale and rental value
• Both Install smart home features — Smart home features can increase both resale and rental value, making the home more attractive to buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace original carpet with hardwood or tile — Hardwood or tile flooring increases value and is easier to maintain ↑
• Both Install new window treatments — New window treatments improve curb appeal and can increase home value ↑
• Both Upgrade kitchen appliances — Modern appliances can increase both resale and rental value ↑
• Both Install smart home features — Smart home features can increase both resale and rental value, making the home more attractive to buyers and renters ↑

ⓘ 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 — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• 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

-11.8% since first listed

10 events — show timeline

• 2026-05-18 Listed $149,900 BRIGHT MLS
• 2026-05-12 Coming Soon $149,900 BRIGHT MLS
• 2023-05-24 Sold (MLS) $155,000 BRIGHT MLS
• 2023-04-28 Pending — BRIGHT MLS
• 2023-04-19 Contingent — BRIGHT MLS
• 2023-02-17 Price Changed $165,000 BRIGHT MLS
• 2022-11-11 Relisted — BRIGHT MLS
• 2022-11-02 Contingent — BRIGHT MLS
• 2022-09-14 Listed $170,000 BRIGHT MLS
• 2022-09-10 Coming Soon $170,000 BRIGHT MLS