437 Ranee Loop #66 · Bear, DE 19701

$69,900

3 bd · 2.0 ba · 1,120 sqft · SingleFamily · 34 Days on market

Built 1988 Fair condition 4,800 sqft lot Est $80k · 12% under

---

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 +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.8/5.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-Bedroom 2 bath Home in Waterford Estates. This inviting home features an open-concept living room and kitchen, creating a spacious and airy feel. The eat in kitchen boasts, ample cabinet and counter space, and a convenient access to washer & dryer setup. The primary bedroom is located at the rear of the home for added privacy and includes an ensuite bath. The additional two bedrooms and a second full bath are situated at the front, offering a functional split layout. Step outside to enjoy the 9' x 12' porch, perfect for relaxing or entertaining. A storage shed in the backyard provides extra space for your belongings. Waterford Estates offers fantastic community amenities, including playgrounds, a basketball court, tennis courts, and a 2.5-mile walking path. The monthly lot rent of $990 covers water, sewer, trash, basic cable, common area maintenance, and snow removal. This sale is subject to park approval of the buyer’s lease application. Don’t miss this opportunity—schedule your tour today!

Key facts

• 4,800 sq ft lot
• 2 parking spots
• Built 1988

Property features AI

Finance

• Other: Annual ground rent listed in income/expense information
• Financial info: Land lease amount $1,088.50 monthly; Land lease years remaining: 0; Property manager present; Property condition described as Very Good / Good / Average
• HOA & community: Ground rent exists; Monthly land lease payment

Exterior

• Parking: Driveway parking; Two driveway spaces; Two total garage/parking spaces
• Utilities: Public water; Public sewer; 200+ amp electric service; Cable TV
• Home design: Manufactured home; Single-story; Entry-level bedrooms; Estimated year built
• Construction: Vinyl siding; Manufactured structure; Building not winterized
• Exterior features: Deck(s); Shed; Above-grade other structures

Interior

• Kitchen: Built-in range; Built-in microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning; Electric hot water
• Interior features: Open floor plan; Combination kitchen and dining area; Ceiling fans; Tub with shower; Entry-level bedroom
• Laundry & utility: Main-floor laundry; Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.8% vs local median 4.7% in Bear — 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 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-, schools D+, amenities F.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+9.0%/yr); 111 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 3.88% ✓
• Cap rate: 34.79%
• Cash-on-cash: 101.78%
• DSCR: 5.53
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $79,520
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Herbert Ct	0.40mi	3/2.0	1,120 (0%)	1mo	$53,000	$47	80
325 Jacobs Loop	0.10mi	3/2.0	1,216 (+9%)	3mo	$95,000	$78	78
345 Jacobs Loop	0.12mi	2/2.0 (-1)	1,200 (+7%)	2mo	$100,000	$83	76
1217 Donna Marie Way	0.27mi	3/2.0	1,216 (+9%)	3mo	$61,000	$50	70
437 Ranee Loop #66	0.00mi	3/2.0	1,000 (-11%)	16mo	$55,000	$55	69
1131 Porter Rd	0.27mi	3/1.0	1,125 (+0%)	17mo	$335,000	$298	68
323 Jacobs Loop #24	0.10mi	4/2.0 (+1)	1,248 (+11%)	7mo	$107,000	$86	65
1204 Donna Marie Way #425	0.33mi	2/2.0 (-1)	1,064 (-5%)	14mo	$55,000	$52	60
113 Herbert Ct	0.42mi	2/2.0 (-1)	980 (-12%)	3mo	$70,000	$71	52
32 Adriane Ct #706	0.33mi	2/2.0 (-1)	952 (-15%)	19mo	$55,000	$58	39

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: —
• Equity multiple: 6.56×
• Total profit: $108,783
• Equity at exit: $10,422

10-year hold

• IRR: —
• Equity multiple: 16.14×
• Total profit: $296,293
• Equity at exit: $6,044

Cash invested: $19,572 (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 19701

• Rents YoY: 9.0%
• Active inventory: 111
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,713 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $1,660

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 34%

Sensitivity live

Price	-10% $1,708	-5% $1,684	+0% $1,660	+5% $1,636	+10% $1,612
Rent	-10% $1,446	-5% $1,553	+0% $1,660	+5% $1,767	+10% $1,874
Rate	-1.0pp $1,695	-0.5pp $1,678	base $1,660	+0.5pp $1,642	+1.0pp $1,624

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.35mi
885 Salem Church Rd Newark, DE	1.0–2.0	1.0–2.0	850	$1,795	$2.11	0d	1	0.52mi
50 Turnberry Ct Bear, DE	1.0–3.0	1.0–3.0	1598	$3,400	$2.13	0d	196	0.53mi
2102 Ashkirk Dr Newark, DE	1.0–2.0	1.0–2.0	880	$1,865	$2.12	2d	6	0.82mi
10 McFarland Dr Newark, DE	2.0	2.0	1082	$2,176	$2.01	3d	2	0.92mi
2139 Valence Pl Newark, DE	2.0–3.0	2.0	1183	$2,505	$2.12	16d	6	1.48mi

Listing history 23 events

1. 2026-06-21
   days on market $69,900 Active 34 DOM
2. 2026-06-18
   days on market $69,900 Active 31 DOM
3. 2026-06-17
   days on market $69,900 Active 30 DOM
4. 2026-06-16
   days on market $69,900 Active 29 DOM
5. 2026-06-15
   days on market $69,900 Active 28 DOM
6. 2026-06-13
   days on market $69,900 Active 26 DOM
7. 2026-06-13
   days on market $69,900 Active 25 DOM
8. 2026-06-09
   days on market $69,900 Active 22 DOM
9. 2026-06-08
   days on market $69,900 Active 21 DOM
10. 2026-06-07
    days on market $69,900 Active 20 DOM
11. 2026-06-04
    days on market $69,900 Active 17 DOM
12. 2026-06-03
    days on market $69,900 Active 16 DOM
13. 2026-06-02
    days on market $69,900 Active 15 DOM
14. 2026-06-01
    days on market $69,900 Active 14 DOM
15. 2026-05-31
    days on market $69,900 Active 13 DOM
16. 2026-05-18
    listed $76,900 Active
17. 2025-03-03
    soldstatus $55,000 Closed 1041-char remark

    Show marketing remark (1041 chars)

    Charming 3-Bedroom 2 bath Home in Waterford Estates. This inviting home features an open-concept living room and kitchen, creating a spacious and airy feel. The eat in kitchen boasts, ample cabinet and counter space, and a convenient access to washer & dryer setup. The primary bedroom is located at the rear of the home for added privacy and includes an ensuite bath. The additional two bedrooms and a second full bath are situated at the front, offering a functional split layout. Step outside to enjoy the 9' x 12' porch, perfect for relaxing or entertaining. A storage shed in the backyard provides extra space for your belongings. Waterford Estates offers fantastic community amenities, including playgrounds, a basketball court, tennis courts, and a 2.5-mile walking path. The monthly lot rent of $990 covers water, sewer, trash, basic cable, common area maintenance, and snow removal. This sale is subject to park approval of the buyer’s lease application. Don’t miss this opportunity—schedule your tour today!

18. 2025-02-26
    historical Active Under Contract 1041-char remark

    Show marketing remark (1041 chars)

    Charming 3-Bedroom 2 bath Home in Waterford Estates. This inviting home features an open-concept living room and kitchen, creating a spacious and airy feel. The eat in kitchen boasts, ample cabinet and counter space, and a convenient access to washer & dryer setup. The primary bedroom is located at the rear of the home for added privacy and includes an ensuite bath. The additional two bedrooms and a second full bath are situated at the front, offering a functional split layout. Step outside to enjoy the 9' x 12' porch, perfect for relaxing or entertaining. A storage shed in the backyard provides extra space for your belongings. Waterford Estates offers fantastic community amenities, including playgrounds, a basketball court, tennis courts, and a 2.5-mile walking path. The monthly lot rent of $990 covers water, sewer, trash, basic cable, common area maintenance, and snow removal. This sale is subject to park approval of the buyer’s lease application. Don’t miss this opportunity—schedule your tour today!

19. 2025-02-14
    listed $55,000 Active 1041-char remark

    Show marketing remark (1041 chars)

    Charming 3-Bedroom 2 bath Home in Waterford Estates. This inviting home features an open-concept living room and kitchen, creating a spacious and airy feel. The eat in kitchen boasts, ample cabinet and counter space, and a convenient access to washer & dryer setup. The primary bedroom is located at the rear of the home for added privacy and includes an ensuite bath. The additional two bedrooms and a second full bath are situated at the front, offering a functional split layout. Step outside to enjoy the 9' x 12' porch, perfect for relaxing or entertaining. A storage shed in the backyard provides extra space for your belongings. Waterford Estates offers fantastic community amenities, including playgrounds, a basketball court, tennis courts, and a 2.5-mile walking path. The monthly lot rent of $990 covers water, sewer, trash, basic cable, common area maintenance, and snow removal. This sale is subject to park approval of the buyer’s lease application. Don’t miss this opportunity—schedule your tour today!

20. 2025-02-12
    historical $55,000 1041-char remark

    Show marketing remark (1041 chars)

    Charming 3-Bedroom 2 bath Home in Waterford Estates. This inviting home features an open-concept living room and kitchen, creating a spacious and airy feel. The eat in kitchen boasts, ample cabinet and counter space, and a convenient access to washer & dryer setup. The primary bedroom is located at the rear of the home for added privacy and includes an ensuite bath. The additional two bedrooms and a second full bath are situated at the front, offering a functional split layout. Step outside to enjoy the 9' x 12' porch, perfect for relaxing or entertaining. A storage shed in the backyard provides extra space for your belongings. Waterford Estates offers fantastic community amenities, including playgrounds, a basketball court, tennis courts, and a 2.5-mile walking path. The monthly lot rent of $990 covers water, sewer, trash, basic cable, common area maintenance, and snow removal. This sale is subject to park approval of the buyer’s lease application. Don’t miss this opportunity—schedule your tour today!

21. 2023-01-18
    soldstatus $45,000 Closed 403-char remark

    Show marketing remark (403 chars)

    Here’s a great opportunity to own this 3 bedroom, 2 full bathroom home in the community of Waterford. Location is everything and this manufactured home is conveniently located near Route 1, Route 40, Route 896, I-95, Lums Pond State Park, Delaware Beaches, and more. Lot rent includes water, sewer, trash, snow removal, and basic cable. This home won’t last long - schedule your tour today!

22. 2022-12-07
    status Pending 403-char remark

    Show marketing remark (403 chars)

    Here’s a great opportunity to own this 3 bedroom, 2 full bathroom home in the community of Waterford. Location is everything and this manufactured home is conveniently located near Route 1, Route 40, Route 896, I-95, Lums Pond State Park, Delaware Beaches, and more. Lot rent includes water, sewer, trash, snow removal, and basic cable. This home won’t last long - schedule your tour today!

23. 2022-12-01
    listed $59,000 Active 403-char remark

    Show marketing remark (403 chars)

    Here’s a great opportunity to own this 3 bedroom, 2 full bathroom home in the community of Waterford. Location is everything and this manufactured home is conveniently located near Route 1, Route 40, Route 896, I-95, Lums Pond State Park, Delaware Beaches, and more. Lot rent includes water, sewer, trash, snow removal, and basic cable. This home won’t last long - schedule your tour today!

ⓘ 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: $32,554
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$2,033
• Taxable income: $19,999
• Est. tax owed @ 24.0%: −$4,800
• After-tax cash flow: $15,121/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 · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bathroom home in Waterford Estates requires moderate renovations to its kitchen and bathrooms, as well as some exterior and landscaping improvements. The home is currently in fair condition and has potential for significant value increase with these updates.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating
• Moderate bathroom tile — dated and in need of updating
• Moderate flooring — carpeted floors in bedrooms, linoleum in kitchen

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
• Both bathroom renovation — modernizing the bathrooms would significantly increase both resale and rental value
• Both landscaping — improved landscaping would enhance curb appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
bathroom tile · dated and in need of updating	Moderate	$3,000–15,000
flooring · carpeted floors in bedrooms, linoleum in kitchen	Moderate	$3,000–15,000
Total estimated repair cost · 6 items		$18,000–90,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathrooms would significantly increase both resale and rental value ↑
• Both landscaping — improved landscaping would enhance curb appeal and increase both resale and rental value ↑

ⓘ 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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 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

+30.3% since first listed

8 events — show timeline

• 2026-05-18 Listed $76,900 BRIGHT MLS
• 2025-03-03 Sold (MLS) $55,000 BRIGHT MLS
• 2025-02-26 Contingent — BRIGHT MLS
• 2025-02-14 Listed $55,000 BRIGHT MLS
• 2025-02-12 Coming Soon $55,000 BRIGHT MLS
• 2023-01-18 Sold (MLS) $45,000 BRIGHT MLS
• 2022-12-07 Pending — BRIGHT MLS
• 2022-12-01 Listed $59,000 BRIGHT MLS