636 Rigel Way · Bear, DE 19701

$440,500

3 bd · 2.5 ba · 2,850 sqft · Townhouse public records · 11 Days on market

Built 2017 3,049 sqft lot $155/sqft · 5% below area Est $466k · 5% under $107/mo HOA · 3% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +9.9/15.0
• Cash flow +9.0/30.0
• Rent growth +4.8/5.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a must-see for anyone searching for luxury living in the Bear area. Located in the desired neighborhood of Meridian Crossing, this home is full of many upgrades from the standard features. Hardwood floors throughout the main & lower level, as well as the stairs. Upgraded level 4 granite in the kitchen and upgraded cabinets. Both full baths feature granite countertops with dual undermount sinks, the master bath has a oversized luxury shower. The lower level family room has it's own unfinished bathroom, with the rough-ins already in place. The composite deck has plenty of space for outdoor entertaining. The clubhouse and all the community amenities are only steps away!

Key facts

• $107 HOA
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Monthly HOA fee (about $107.28) covering common area maintenance, lawn care, snow removal, trash, and access to the health club; Community amenities include clubhouse, tennis courts, and fitness center

Exterior

• Parking: Attached 2-car garage with front entry and garage door opener; Asphalt driveway; On-street parking and parking lot access
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Vinyl and aluminum siding; Architectural shingle roof; Slab foundation; Built year per assessor
• Exterior features: Community pool; Located in Meridian Crossing; Bus stop within one mile

Interior

• Kitchen: Gas oven/range; Dishwasher
• Bedrooms: Three bedrooms on the upper level; One bedroom on the lower level
• Flooring: Hardwood floors; Partially carpeted
• Bathrooms: Two full bathrooms; One half bathroom on the main level
• Heating & cooling: Energy Star heating system (natural gas); Central air conditioning (electric); 200+ amp electric service
• Interior features: Fully finished basement; Not in a federal flood zone; Assessor records used for living area
• Laundry & utility: Washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $440k.

Deal economics

• At list price, monthly cash flow is $-347 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $379k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (27.6% below list).
• Recommended offer: $319k (27.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#8 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, cost of living A-; Watch: crime C-, amenities F, commute F.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Wilbur (Kathleen H.) Elementary (math 24% / reading 43%, grade F, #42 of 105 statewide, top 39%, 1,044 students, 0% FRL); Bedford (Gunning) Middle School (math 14% / reading 38%, grade F, #20 of 36 statewide, top 54%, 936 students, 0% FRL); Penn (William) High School (math 16% / reading 30%, grade F, #29 of 40 statewide, top 72%, 2,239 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+9.0%/yr); 112 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 34% of the median local income ($111k/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 $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $59k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $345k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $318,947 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 11.5

CMA / ARV

• ARV (median comp): $465,616
• List price: $440,500
• Delta: -5.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 Leo Ln	0.19mi	3/3.5	2,925 (+3%)	12mo	$465,000	$159	72
1106 Goddard Way	0.17mi	3/3.0	2,800 (-2%)	20mo	$425,000	$152	71
1116 Goddard Way	0.18mi	3/2.5	2,500 (-12%)	2mo	$451,000	$180	70
131 Time Cir	0.39mi	3/2.5	2,950 (+4%)	13mo	$425,000	$144	65
125 Time Cir	0.41mi	3/2.5	2,950 (+4%)	12mo	$445,000	$151	65
407 Sun Blvd	0.23mi	3/2.5	2,575 (-10%)	13mo	$510,000	$198	62
6 Grand National Ln #37	0.48mi	3/2.5	2,900 (+2%)	20mo	$409,999	$141	58
129 Sirius Dr	0.39mi	4/3.0 (+1)	2,625 (-8%)	18mo	$499,000	$190	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.38×
• Total profit: $-76,664
• Equity at exit: $65,680

10-year hold

• IRR: -1.9%
• Equity multiple: 0.85×
• Total profit: $-18,718
• Equity at exit: $38,086

Cash invested: $123,340 (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 19701

• Rents YoY: 9.0%
• Active inventory: 112
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $3,189 medium
• Mortgage (P&I): −$2,310
• Tax from tax record: −$266 /mo · $3,189/yr
• Insurance: −$184
• HOA: −$107
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $-347

Break-even live

Break-even rent $3,628

Max offer price $379,263

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-222	+0% $-347	+5% $-471	+10% $-596
Rent	-10% $-599	-5% $-473	+0% $-347	+5% $-221	+10% $-95
Rate	-1.0pp $-125	-0.5pp $-235	base $-347	+0.5pp $-461	+1.0pp $-577

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: $110,125
• Closing costs: $13,215
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Kennedy Cir Bear, DE	2.0–3.0	2.0–3.0	1702	$3,315	$1.95	0d	34	0.08mi
148 Grissom Dr Bear, DE	4.0	3.0	3850	$3,350	$0.87	5d	1	0.47mi
50 Turnberry Ct Bear, DE	1.0–3.0	1.0–3.0	1598	$3,400	$2.13	0d	195	0.79mi
49 Willow Pl Newark, DE	3.0–4.0	2.0–3.5	1844	$2,725	$1.48	0d	1	1.35mi

HOA detail

• Monthly dues: $107 · $1,284/yr

Listing history 16 events

1. 2026-06-13
   statusdays on market $440,500 Pending 11 DOM
2. 2026-06-09
   days on market $440,500 Active 10 DOM
3. 2026-06-08
   days on market $440,500 Active 9 DOM
4. 2026-06-07
   days on market $440,500 Active 8 DOM
5. 2026-06-04
   days on market $440,500 Active 5 DOM
6. 2026-06-03
   days on market $440,500 Active 4 DOM
7. 2026-06-02
   days on market $440,500 Active 3 DOM
8. 2026-06-01
   days on market $440,500 Active 2 DOM
9. 2026-06-01
   price $440,500 Active 1 DOM
10. 2026-05-31
    statusdays on market $499,999 Active 1 DOM
11. 2026-04-21
    historical $499,999 1426-char remark
12. 2020-05-07
    soldstatus $344,900
13. 2020-04-28
    soldstatus $344,900 Closed 689-char remark

    Show marketing remark (689 chars)

    This is a must-see for anyone searching for luxury living in the Bear area. Located in the desired neighborhood of Meridian Crossing, this home is full of many upgrades from the standard features. Hardwood floors throughout the main & lower level, as well as the stairs. Upgraded level 4 granite in the kitchen and upgraded cabinets. Both full baths feature granite countertops with dual undermount sinks, the master bath has a oversized luxury shower. The lower level family room has it's own unfinished bathroom, with the rough-ins already in place. The composite deck has plenty of space for outdoor entertaining. The clubhouse and all the community amenities are only steps away!

14. 2020-04-17
    status Pending 689-char remark

    Show marketing remark (689 chars)

    This is a must-see for anyone searching for luxury living in the Bear area. Located in the desired neighborhood of Meridian Crossing, this home is full of many upgrades from the standard features. Hardwood floors throughout the main & lower level, as well as the stairs. Upgraded level 4 granite in the kitchen and upgraded cabinets. Both full baths feature granite countertops with dual undermount sinks, the master bath has a oversized luxury shower. The lower level family room has it's own unfinished bathroom, with the rough-ins already in place. The composite deck has plenty of space for outdoor entertaining. The clubhouse and all the community amenities are only steps away!

15. 2020-03-16
    historical Active Under Contract 689-char remark

    Show marketing remark (689 chars)

    This is a must-see for anyone searching for luxury living in the Bear area. Located in the desired neighborhood of Meridian Crossing, this home is full of many upgrades from the standard features. Hardwood floors throughout the main & lower level, as well as the stairs. Upgraded level 4 granite in the kitchen and upgraded cabinets. Both full baths feature granite countertops with dual undermount sinks, the master bath has a oversized luxury shower. The lower level family room has it's own unfinished bathroom, with the rough-ins already in place. The composite deck has plenty of space for outdoor entertaining. The clubhouse and all the community amenities are only steps away!

16. 2020-03-09
    listed $334,900 Active 689-char remark

    Show marketing remark (689 chars)

    This is a must-see for anyone searching for luxury living in the Bear area. Located in the desired neighborhood of Meridian Crossing, this home is full of many upgrades from the standard features. Hardwood floors throughout the main & lower level, as well as the stairs. Upgraded level 4 granite in the kitchen and upgraded cabinets. Both full baths feature granite countertops with dual undermount sinks, the master bath has a oversized luxury shower. The lower level family room has it's own unfinished bathroom, with the rough-ins already in place. The composite deck has plenty of space for outdoor entertaining. The clubhouse and all the community amenities are only steps away!

ⓘ 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: $3,189 · $266/mo
• Projected year-2 tax: $3,189 · $266/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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,274
• − Mortgage interest: −$24,675
• − Property taxes: −$3,189
• − Insurance: −$2,202
• − Repairs & maintenance: −$3,062
• − Management: −$3,062
• − HOA: −$1,284
• − Depreciation: −$12,815
• Taxable loss: −$12,015
• Est. tax savings @ 24.0%: +$2,884
• After-tax cash flow: $-1,276/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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — Bear

• Score: 73/100
• State rank: #8
• US rank: #5158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bear, DE
• County: New Castle County · 483,412 people
• City population: 42,984
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 42,984
• Household income: $111,198
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 619.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 50% Black 26% Hispanic / Latino 11% Asian 10% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 78% English-only · Spanish 8% Other Asian/Pacific 3% Other Indo-European 3%

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: ▼ -159.00%
• Current HPI: 261.2988
• Rent YoY: ▲ 9.03%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+31.5% since first listed

12 events — show timeline

• 2026-06-10 Pending — BRIGHT MLS
• 2026-06-01 Price Changed $440,500 BRIGHT MLS
• 2026-05-31 Relisted — BRIGHT MLS
• 2026-05-31 Price Changed $450,500 BRIGHT MLS
• 2026-05-31 Listing Removed — BRIGHT MLS
• 2026-05-30 Listed $499,999 BRIGHT MLS
• 2026-04-21 Coming Soon $499,999 BRIGHT MLS
• 2020-05-07 Sold (Public Records) $344,900 Public Records
• 2020-04-28 Sold (MLS) $344,900 BRIGHT MLS
• 2020-04-17 Pending — BRIGHT MLS
• 2020-03-16 Contingent — BRIGHT MLS
• 2020-03-09 Listed $334,900 BRIGHT MLS

Property tax history

+33.5%/yr

Latest (2024): $3,189 · +9.4% YoY. Source: county tax records.