2120 N Pine St · Wilmington, DE 19802

$119,900

6 bd · 3.0 ba · 1,750 sqft · Townhouse public records · 10 Days on market

Built 1900 1,307 sqft lot Est $217k · 45% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTORS! This property is the one you have been waiting for! This one will not last! This Property is being sold As-Is condition. Home features 3 - 2 bed 1 bath units. Buyer is responsible for all certifications. Seller never occupied. Neither the seller or listing agent make any representation as to the accuracy of any information contained herein. Buyer must conduct their own due diligence, verification, research and inspections and are relying solely on the results thereof. Buyer to pay all closing costs and transfer tax.

Key facts

• Built 1900
• Listed 10 days

Property features AI

Finance

• Financial info: Improvement assessed at $49,400; Land assessed at $31,000; Tax assessed value $80,400 (tax year 2025); Annual taxes approximately $907

Exterior

• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Built year per assessor
• Exterior features: Lot dimensions approximately 16.00 x 92.20; No tidal water

Interior

• Bedrooms: Six bedrooms on the main level
• Bathrooms: Three full bathrooms (all on the main level)
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 16.9% vs local median 5.7% 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.
• Brandywine School District (suburban): math 28% / reading 40% proficiency, ranked #11 of 26 in DE (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 129 active listings in the ZIP; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $2,303/mo this rent would consume 51% of the median local household income ($54k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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 + 5.7% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 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.
• Current owner paid $81k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $119,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.92% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.90%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $217,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2112 N Pine St	0.01mi	5/2.5 (-1)	1,875 (+7%)	10mo	$140,000	$75	72
2100 N Locust St	0.20mi	5/2.0 (-1)	1,600 (-9%)	16mo	$155,000	$97	54
814 Kirkwood St	0.71mi	5/3.0 (-1)	1,775 (+1%)	24mo	$220,000	$124	40
2400 N Washington St	0.48mi	5/2.5 (-1)	1,525 (-13%)	18mo	$260,000	$170	34

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.63×
• Total profit: $54,564
• Equity at exit: $17,877

10-year hold

• IRR: 44.8%
• Equity multiple: 5.84×
• Total profit: $162,523
• Equity at exit: $10,367

Cash invested: $33,572 (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 19802

• Rents YoY: 5.7%
• Active inventory: 129
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,303 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $1,060

Break-even live

Break-even rent $961

Max offer price $119,900

Occupancy floor 49%

Sensitivity live

Price	-10% $1,128	-5% $1,094	+0% $1,060	+5% $1,026	+10% $992
Rent	-10% $878	-5% $969	+0% $1,060	+5% $1,151	+10% $1,242
Rate	-1.0pp $1,121	-0.5pp $1,091	base $1,060	+0.5pp $1,029	+1.0pp $998

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   status $119,900 Pending 10 DOM
2. 2026-06-18
   days on market $119,900 Active 10 DOM
3. 2026-06-17
   days on market $119,900 Active 9 DOM
4. 2026-06-16
   days on market $119,900 Active 8 DOM
5. 2026-06-15
   days on market $119,900 Active 7 DOM
6. 2026-06-13
   days on market $119,900 Active 5 DOM
7. 2026-06-08
   remarks 544-char remark

   Show marketing remark (544 chars)

   CALLING ALL INVESTORS! This property is the one you have been waiting for! This one will not last! This Property is being sold As-Is condition. Home features 3 - 2 bed 1 bath units. Buyer is responsible for all certifications. Seller never occupied. Neither the seller or listing agent make any representation as to the accuracy of any information contained herein. Buyer must conduct their own due diligence, verification, research and inspections and are relying solely on the results thereof. Buyer to pay all closing costs and transfer tax.

8. 2026-06-08
   listed $119,900 Active 1 DOM

   Show marketing remark (544 chars)

   CALLING ALL INVESTORS! This property is the one you have been waiting for! This one will not last! This Property is being sold As-Is condition. Home features 3 - 2 bed 1 bath units. Buyer is responsible for all certifications. Seller never occupied. Neither the seller or listing agent make any representation as to the accuracy of any information contained herein. Buyer must conduct their own due diligence, verification, research and inspections and are relying solely on the results thereof. Buyer to pay all closing costs and transfer tax.

ⓘ 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: $963 · $80/mo
• Projected year-2 tax: $963 · $80/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,634
• − Mortgage interest: −$6,716
• − Property taxes: −$963
• − Insurance: −$600
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$3,488
• Taxable income: $11,446
• Est. tax owed @ 24.0%: −$2,747
• After-tax cash flow: $9,976/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: Brandywine School District
• NCES district ID: 1001240
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 40% ▼ -13.00%
• Median HH income: $68,743
• Composite: 31.27/100
• National rank: #6019
• State rank: #11 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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+626.7% since first listed

23 events — show timeline

• 2026-06-08 Listed $119,900 BRIGHT MLS
• 2026-06-08 Listed $119,900 BRIGHT MLS
• 2025-12-09 Sold (Public Records) $81,000 Public Records
• 2008-09-19 Listing Removed — BRIGHT MLS
• 2008-05-28 Listed $154,900 BRIGHT MLS
• 2008-03-10 Listing Removed — BRIGHT MLS
• 2007-04-11 Listed $174,900 BRIGHT MLS
• 2007-02-21 Listing Removed — BRIGHT MLS
• 2006-10-10 Listed $164,900 BRIGHT MLS
• 2006-04-03 Sold (Public Records) $120,000 Public Records
• 2006-03-17 Sold (MLS) $120,000 BRIGHT MLS
• 2006-02-17 Listing Removed — BRIGHT MLS
• 2006-02-03 Listing Removed — BRIGHT MLS
• 2006-02-01 Listed $120,000 BRIGHT MLS
• 2005-11-18 Listing Removed — BRIGHT MLS
• 2005-11-17 Listed $127,900 BRIGHT MLS
• 2005-07-25 Listed $129,900 BRIGHT MLS
• 2001-10-30 Sold (MLS) $40,500 BRIGHT MLS
• 2001-10-17 Listing Removed — BRIGHT MLS
• 2001-10-10 Listed $40,500 BRIGHT MLS
• 1996-08-03 Listing Removed — BRIGHT MLS
• 1995-08-28 Listed $69,000 BRIGHT MLS
• 1981-08-01 Sold (Public Records) $16,500 Public Records

Property tax history

+4.4%/yr

Latest (2024): $963 · +10.2% YoY. Source: county tax records.