4304 N Pine St · Edgemoor, DE 19802

$169,900

2 bd · 1.0 ba · 775 sqft · SingleFamily public records · 236 Days on market

Built 1953 3,920 sqft lot $219/sqft · 43% below area Est $296k · 43% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single family home has 2 bedrooms and 1 Full Bath and a detached garage . Gas Heater and Hot Water Heater were replaced about 5 years ago. This home also has central air conditioning and updated vinyl windows. Great for a first time buyer.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (4.4% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.8% in Edgemoor — 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 72/100 on livability (#17 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: schools D+, amenities F, commute F.
• 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); 119 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 236 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $170k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.96% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (median comp): $296,053
• List price: $169,900
• Delta: -42.61%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.79×
• Total profit: $-9,787
• Equity at exit: $25,333

10-year hold

• IRR: 7.1%
• Equity multiple: 1.59×
• Total profit: $28,166
• Equity at exit: $14,690

Cash invested: $47,572 (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: 119
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,625 high
• Mortgage (P&I): −$891
• Tax from tax record: −$115 /mo · $1,374/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $207

Break-even live

Break-even rent $1,362

Max offer price $169,900

Occupancy floor 82%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Philadelphia Pike Unit 216 Wilmington, DE	2.0	1.0	850	$1,400	$1.65	44d	1	0.30mi
201 1/2 Philadelphia Pike #326 Wilmington, DE	2.0	1.0	779	$1,595	$2.05	44d	1	0.33mi
2 Colony Blvd Wilmington, DE	1.0–2.0	1.0–2.0	1112	$2,500	$2.25	1d	6	0.34mi
310 Shipley Rd Wilmington, DE	2.0	2.0	1010	$1,722	$1.71	1d	2	0.35mi
608 W Lea Blvd Wilmington, DE	1.0–2.0	1.0	825	$1,500	$1.82	44d	1	0.70mi
164 Paladin Dr Wilmington, DE	1.0	1.0	600	$1,400	$2.33	44d	1	0.72mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	13d	1	0.87mi
108 E 28th St Wilmington, DE	1.0	1.0	600	$1,325	$2.21	24d	1	0.88mi
4310 Miller Rd Wilmington, DE	1.0	1.0	650	$1,409	$2.17	44d	1	0.89mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.92mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	44d	1	0.92mi
3408 Miller Rd Wilmington, DE	1.0–2.0	1.0–2.0	889	$1,775	$2.00	5d	6	0.95mi
800 Brandywine Blvd Wilmington, DE	2.0	1.0	950	$1,600	$1.68	44d	1	1.05mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	44d	1	1.07mi
1204 Terra Hill Dr Wilmington, DE	2.0	1.5	1000	$1,610	$1.61	1d	6	1.11mi
312 Concord Ave Unit 1 Wilmington, DE	1.0	1.0	600	$1,195	$1.99	44d	1	1.25mi
312 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	700	$1,295	$1.85	24d	1	1.25mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	44d	1	1.25mi
1121 Rosedale Ave Unit 2 Wilmington, DE	2.0	1.0	1000	$1,750	$1.75	44d	1	1.27mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	1.28mi
6 W 20th St Wilmington, DE	2.0	1.0	650	$1,395	$2.15	44d	1	1.39mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	13d	1	1.42mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	1.42mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	1.47mi
608 W 20th St Wilmington, DE	2.0	1.0	800	$1,400	$1.75	44d	1	1.48mi

Listing history 16 events

1. 2026-06-03
   days on market $169,900 Active 236 DOM
2. 2026-06-02
   days on market $169,900 Active 235 DOM
3. 2026-06-01
   days on market $169,900 Active 234 DOM
4. 2026-05-31
   days on market $169,900 Active 233 DOM
5. 2026-03-19
   price $169,900 246-char remark

   Show marketing remark (246 chars)

   This single family home has 2 bedrooms and 1 Full Bath and a detached garage . Gas Heater and Hot Water Heater were replaced about 5 years ago. This home also has central air conditioning and updated vinyl windows. Great for a first time buyer.

6. 2026-01-21
   price $175,000 246-char remark

   Show marketing remark (246 chars)

   This single family home has 2 bedrooms and 1 Full Bath and a detached garage . Gas Heater and Hot Water Heater were replaced about 5 years ago. This home also has central air conditioning and updated vinyl windows. Great for a first time buyer.

7. 2025-10-11
   listed $185,000 Active 246-char remark

   Show marketing remark (246 chars)

   This single family home has 2 bedrooms and 1 Full Bath and a detached garage . Gas Heater and Hot Water Heater were replaced about 5 years ago. This home also has central air conditioning and updated vinyl windows. Great for a first time buyer.

8. 2025-10-04
   historical $185,000 246-char remark

   Show marketing remark (246 chars)

   This single family home has 2 bedrooms and 1 Full Bath and a detached garage . Gas Heater and Hot Water Heater were replaced about 5 years ago. This home also has central air conditioning and updated vinyl windows. Great for a first time buyer.

9. 2009-05-20
   historical
10. 2008-12-16
    listed $119,900
11. 2004-08-31
    historical
12. 2004-07-13
    historical
13. 2004-07-12
    listed $89,900
14. 2004-06-24
    listed $89,900
15. 2003-05-16
    soldstatus $54,000
16. 1975-05-01
    soldstatus $23,500

ⓘ 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: $1,374 · $115/mo
• Projected year-2 tax: $1,374 · $115/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 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,500
• − Mortgage interest: −$9,517
• − Property taxes: −$1,374
• − Insurance: −$850
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$4,943
• Taxable loss: −$304
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $2,562/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 — Edgemoor

• Score: 72/100
• State rank: #17
• US rank: #6080

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgemoor, 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

+623.0% since first listed

12 events — show timeline

• 2026-03-19 Price Changed $169,900 BRIGHT MLS
• 2026-01-21 Price Changed $175,000 BRIGHT MLS
• 2025-10-11 Listed $185,000 BRIGHT MLS
• 2025-10-04 Coming Soon $185,000 BRIGHT MLS
• 2009-05-20 Listing Removed — BRIGHT MLS
• 2008-12-16 Listed $119,900 BRIGHT MLS
• 2004-08-31 Listing Removed — BRIGHT MLS
• 2004-07-13 Listing Removed — BRIGHT MLS
• 2004-07-12 Listed $89,900 BRIGHT MLS
• 2004-06-24 Listed $89,900 BRIGHT MLS
• 2003-05-16 Sold (Public Records) $54,000 Public Records
• 1975-05-01 Sold (Public Records) $23,500 Public Records

Property tax history

+2.1%/yr

Latest (2024): $1,374 · +9.2% YoY. Source: county tax records.