200 Cedar St · Wilmington, DE 19805

$125,000

3 bd · 1.0 ba · 925 sqft · Townhouse public records · 5 Days on market

Built 1900 871 sqft lot Est $122k · at est.

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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 +9.4/10.0
• ARV discount +6.4/15.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the City of Wilmington! This 3-bedroom, 1-bath end-unit row home offers solid potential for an owner-occupant or investor looking to add their personal touches. Lovingly cared for by the same family for generations, this home is ready for its next chapter. Filled with years of memories and pride of ownership, it offers endless potential for its next owner to make it their own. One of the standout features of this property is the side walkway providing direct access to the rear yard without having to pass through the home, a valuable convenience that's hard to find in city living. The home also features a small yard and an attached rear storage area, offering additional

Key facts

• Built 1900
• Listed 5 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: End-of-row townhouse; Flat roof; Fee simple ownership; Built (year per assessor)
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Lot dimensions approximately 12 x 70; Ground rent paid annually; Not tidal water

Interior

• Bedrooms: 3 bedrooms on the first upper level
• Flooring: Carpet; Tile/brick
• Bathrooms: 1 full bathroom (all upper levels)
• Heating & cooling: Forced air heating (natural gas); Window cooling units (electric); Natural gas hot water
• Interior features: Plaster walls; Unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.6% vs local median 5.6% 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.
• 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 (+6.3%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 36% of the median local income ($60k/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 $864 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 + 6.3% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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 $125,000

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: 1.44% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.06%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $122,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 Wright St	0.03mi	2/1.5 (-1)	924 (-0%)	8mo	$185,000	$200	84
918 Wright St	0.04mi	2/1.0 (-1)	975 (+5%)	1mo	$125,000	$128	83
210 Lower Oak St	0.13mi	2/1.0 (-1)	960 (+4%)	4mo	$154,000	$160	79
210 5th Ave	0.06mi	2/1.0 (-1)	975 (+5%)	6mo	$159,900	$164	78
11 Cedar St	0.11mi	2/1.0 (-1)	875 (-5%)	4mo	$110,000	$126	77
4 Lower Oak St	0.18mi	2/1.0 (-1)	850 (-8%)	1mo	$112,500	$132	72
2 Lower Oak St	0.18mi	2/1.5 (-1)	850 (-8%)	1mo	$112,500	$132	70
420 S Van Buren St	0.38mi	2/1.0 (-1)	875 (-5%)	7mo	$67,500	$77	62
1120 Beech St	0.26mi	2/1.0 (-1)	825 (-11%)	6mo	$112,500	$136	60
1317 Chestnut St	0.55mi	2/1.5 (-1)	950 (+3%)	5mo	$85,000	$89	58
603 Maryland Ave	0.29mi	3/1.0	1,050 (+14%)	8mo	$120,000	$114	57
1232 Chestnut St	0.52mi	3/1.0	1,050 (+14%)	3mo	$109,500	$104	51

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.61×
• Total profit: $21,430
• Equity at exit: $18,638

10-year hold

• IRR: 25.8%
• Equity multiple: 3.62×
• Total profit: $91,873
• Equity at exit: $10,808

Cash invested: $35,000 (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 19805

• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,797 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $556

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 64%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	43d	1	0.08mi
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	4d	1	0.12mi
1507 Coleman St Wilmington, DE	2.0	1.0	650	$1,495	$2.30	24d	1	0.27mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.41mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	4d	1	0.42mi
545 Homestead Rd Wilmington, DE	2.0	1.0	800	$1,399	$1.75	43d	1	0.51mi
1600 Bonwood Rd Wilmington, DE	2.0	2.0	970	$1,614	$1.66	15d	1	0.51mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	20d	1	0.52mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	24d	1	0.55mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	18d	1	0.69mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	10d	1	0.72mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	16d	1	0.72mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	1d	13	0.76mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	0.83mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.91mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	43d	1	0.91mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	0.92mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	43d	1	0.96mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	24d	1	0.97mi
201 New Rd Wilmington, DE	2.0	1.0	800	$1,350	$1.69	3d	1	0.97mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	43d	1	0.98mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	4d	1	0.98mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	43d	1	0.99mi
401 A St Wilmington, DE	2.0	1.0–2.0	716	$2,605	$3.64	1d	13	1.00mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	22d	1	1.02mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	43d	1	1.07mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	4d	1	1.13mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	1.14mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	1.15mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	1.16mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	1.17mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	43d	1	1.18mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	1.18mi
2700 Boulevard Rd Wilmington, DE	1.0–2.0	1.0	743	$1,525	$2.05	2d	8	1.20mi
37 E Champlain Ave Wilmington, DE	2.0	1.0	975	$1,612	$1.65	1d	1	1.26mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	1.26mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	1.29mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	12d	4	1.39mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	43d	4	1.39mi
606 S Claymont St Wilmington, DE	2.0	1.0	1000	$1,399	$1.40	16d	1	1.43mi

Listing history 6 events

1. 2026-06-18
   days on market $125,000 Active 5 DOM
2. 2026-06-17
   days on market $125,000 Active 4 DOM
3. 2026-06-16
   days on market $125,000 Active 3 DOM
4. 2026-06-15
   days on market $125,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $125,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,564
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$3,636
• Taxable income: $4,975
• Est. tax owed @ 24.0%: −$1,194
• After-tax cash flow: $5,475/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: 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 — 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): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 1%

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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-13 Listed $125,000 BRIGHT MLS
• 2026-06-13 Coming Soon $125,000 BRIGHT MLS