9 Immunity Ln #148 · Magnolia, DE 19962

$129,999

4 bd · 2.0 ba · 2,156 sqft · SingleFamily · 216 Days on market

Built 2007 Good condition $60/sqft · 71% below area ↓ 12% 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

Key facts

• Covered front porch
• Monthly lot rent
• Built 2007

Tags

• COVERED FRONT PORCH
• MONTHLY LOT RENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 2.3% in Magnolia — 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 (#51 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment A-, housing B+; Watch: schools F, crime F, amenities F.
• Caesar Rodney School District (suburban): math 26% / reading 49% proficiency, ranked #9 of 26 in DE (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $899 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Recommended offer $114,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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. 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.54%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $441,594
• List price: $129,999
• Delta: -70.56%
• 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
158 Caveat Rd #200	0.06mi	4/2.0	2,002 (-7%)	1mo	$112,000	$56	84
58 Wanchese Dr	0.32mi	4/2.0	2,344 (+9%)	1mo	$549,990	$235	70
29 Wanchese Dr	0.31mi	3/2.0 (-1)	1,951 (-10%)	1mo	$514,990	$264	64
88 Wanchese Dr	0.29mi	3/2.0 (-1)	1,951 (-10%)	5mo	$499,990	$256	62
104 Wanchese Dr	0.31mi	3/2.0 (-1)	1,951 (-10%)	7mo	$469,900	$241	59
59 Kitty Hawk Way	0.34mi	3/2.0 (-1)	2,344 (+9%)	10mo	$539,900	$230	56
13 Kitty Hawk Way	0.36mi	3/2.0 (-1)	1,951 (-10%)	12mo	$464,900	$238	52
148 Kitty Hawk Way	0.35mi	3/2.0 (-1)	1,951 (-10%)	13mo	$459,900	$236	52
92 Rodanthe Ave	0.38mi	3/2.0 (-1)	1,951 (-10%)	14mo	$499,900	$256	50
125 Buxton Cir	0.47mi	3/2.0 (-1)	1,951 (-10%)	10mo	$549,900	$282	49
204 Kitty Hawk Way	0.34mi	3/2.0 (-1)	1,951 (-10%)	21mo	$464,900	$238	46
138 Rodanthe Ave	0.39mi	3/2.0 (-1)	1,951 (-10%)	21mo	$459,900	$236	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.41×
• Total profit: $14,777
• Equity at exit: $19,383

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $59,097
• Equity at exit: $11,240

Cash invested: $36,400 (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 19962

• Home prices YoY: -29.4%
• Active inventory: 125
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,849 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $562

Break-even live

Break-even rent $1,137

Max offer price $129,999

Occupancy floor 65%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Willow Dr Frederica, DE	3.0–4.0	2.0	1312	$1,849	$1.41	44d	1	0.40mi

Listing history 6 events

1. 2026-05-18
   price $129,999 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

2. 2026-04-16
   price $132,500 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

3. 2026-04-08
   price $134,900 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

4. 2026-02-19
   price $139,900 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

5. 2025-11-05
   price $140,000 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

6. 2025-10-16
   listed $148,000 Active 595-char remark

   Show marketing remark (595 chars)

   Enjoy comfort and convenience in this charming 4-bedroom, 2-bath home! The spacious covered front porch is perfect for morning coffee or relaxing evenings. Located just minutes from Dover Air Force Base and Route 1, this home makes commuting a breeze. Situated on a lot with monthly lot rent, it offers affordable living with plenty of space and convenience. The seller is also offering a possible carpet credit, giving you the opportunity to make this home truly yours. Schedule your showing today! Agent is related to the seller! First photo is edited to show spring grass not dead fall grass.

ⓘ 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: $22,188
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$3,782
• Taxable income: $4,974
• Est. tax owed @ 24.0%: −$1,194
• After-tax cash flow: $5,554/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 80/100 Cosmetic rehab

This charming 4-bedroom, 2-bath home is in good condition with a good exterior and interior. It offers a spacious covered front porch and is located near Dover Air Force Base and Route 1, making it convenient for commuters. With some cosmetic updates, it can be a great investment for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and increase its value for both resale and rental.
• Both Upgrading the HVAC system — A modern, energy-efficient HVAC system can improve comfort and reduce utility costs, making the home more attractive to buyers and renters.
• Both Adding smart home features — Smart home features can increase the home's appeal to tech-savvy buyers and renters, making it more attractive and potentially commanding a higher price or rent.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and increase its value for both resale and rental. ↑
• Both Upgrading the HVAC system — A modern, energy-efficient HVAC system can improve comfort and reduce utility costs, making the home more attractive to buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase the home's appeal to tech-savvy buyers and renters, making it more attractive and potentially commanding a higher price or rent. ↑

ⓘ 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: Caesar Rodney School District
• NCES district ID: 1000180
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 49% ▼ -14.00%
• Median HH income: $61,187
• Composite: 33.4/100
• National rank: #5475
• State rank: #9 of 26 in DE

Livability — Magnolia

• Score: 64/100
• State rank: #51
• US rank: #13984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,618

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 0.61)
• Race & ethnicity: White 58% Black 23% Two or more races 10% Hispanic / Latino 6% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Swiss 4% Italian 3% Iranian 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Tagalog/Filipino 2%

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: ▼ -77.63%
• Current HPI: 186.7318
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-12.2% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $129,999 BRIGHT MLS
• 2026-04-16 Price Changed $132,500 BRIGHT MLS
• 2026-04-08 Price Changed $134,900 BRIGHT MLS
• 2026-02-19 Price Changed $139,900 BRIGHT MLS
• 2025-11-05 Price Changed $140,000 BRIGHT MLS
• 2025-10-16 Listed $148,000 BRIGHT MLS