100 Brown Ln

Laurel, DE 19956

$150,000B+

3 bd · 2.0 ba · 1,096 sqft · Built 1997 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,695/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$102
• HOA: −$25
• Vac / Maint / Mgmt: −$356
• Net cashflow: $426/mo
• Annual: $5,108/yr
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• 1% rule: 1.13%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#57 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D+, crime F, amenities F.
• Laurel School District (suburban): math 15% / reading 27% proficiency, ranked #25 of 26 in DE (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Laurel Early Learning Academy (254 students, 0% FRL); Laurel Middle School (math 19% / reading 31%, grade F, #22 of 36 statewide, top 63%, 473 students, 0% FRL); Laurel Senior High School (math 12% / reading 27%, grade F, #32 of 40 statewide, top 85%, 747 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 75% 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.
• Cap rate 9.7% vs local median 3.9% in Laurel — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.