1220 Afton Ct · Dover, DE 19904

$99,900

2 bd · 2.0 ba · 1,171 sqft · Condo · 14 Days on market

Built 1984 $83/mo HOA · 5% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ref.#10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts.1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

Key facts

• Vaulted ceiling
• Balcony
• Sunroom

Tags

• VAULTED CEILING
• COZY FIREPLACE
• SUNROOM
• BALCONY
• MAIN FLOOR PRIMARY BEDROOM
• LOFT AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 14.2% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.3%/yr); 225 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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 $691 of loan paydown is wiped out by about $3k 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 + 3.3% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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 $99,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.20%
• DSCR: 2.25
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.94×
• Total profit: $26,248
• Equity at exit: $14,895

10-year hold

• IRR: 31.0%
• Equity multiple: 3.83×
• Total profit: $79,137
• Equity at exit: $8,638

Cash invested: $27,972 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$524
• Tax from tax record: −$76 /mo · $916/yr
• Insurance: −$42
• HOA: −$83
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $657

Break-even live

Break-even rent $917

Max offer price $99,900

Occupancy floor 57%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S Farmview Dr Dover, DE	1.0–2.0	1.0–2.0	888	$1,699	$1.91	43d	8	0.28mi
236 Green Blade Dr Dover, DE	3.0	2.5	1200	$1,850	$1.54	43d	1	0.35mi
33 Fieldstone Ct Dover, DE	2.0	1.5	1120	$1,550	$1.38	43d	1	0.46mi
11 Dover Hall Unit 434 Dover, DE	2.0	2.0	960	$1,700	$1.77	43d	1	0.54mi
70 Greenway Sq Dover, DE	3.0	1.0–2.0	769	$1,783	$2.32	43d	1	0.58mi
44 Courtside Dr Unit B31 Dover, DE	2.0	1.5	1008	$1,650	$1.64	43d	1	0.64mi
97 Par Haven Dr Unit J23 Dover, DE	2.0	1.5	1050	$1,650	$1.57	43d	1	0.70mi
46 Lincoln St Dover, DE	2.0	2.0	1073	$1,700	$1.58	43d	1	0.79mi
355A Ridgely St Dover, DE	1.0–3.0	1.0–2.5	1238	$2,210	$1.78	43d	17	0.80mi
114 Thames Dr Dover, DE	2.0	2.5	1452	$1,650	$1.14	43d	1	0.86mi
100 Isabelle Isle Dover, DE	2.0–3.0	2.0	1273	$1,859	$1.46	43d	9	0.95mi
424 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	0.97mi
63 Forest Creek Dr Dover, DE	3.0	1.5	1322	$1,600	$1.21	43d	1	1.01mi
205 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	1.05mi
16 S New St #1 Dover, DE	3.0	1.0	1000	$1,950	$1.95	43d	1	1.10mi
892 Woodcrest Dr Dover, DE	2.0	1.0–1.5	521	$1,690	$3.24	43d	15	1.12mi
105 Katrina Way Dover, DE	1.0–3.0	1.0–2.0	952	$1,800	$1.89	43d	22	1.12mi
12 S State St Unit 2 Dover, DE	1.0	1.0	800	$1,195	$1.49	43d	1	1.30mi
5 S State St Dover, DE	1.0	1.5	1100	$1,200	$1.09	43d	1	1.33mi

HOA detail condo

• Monthly dues: $83 · $996/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-03-31
   status Pending
2. 2026-03-17
   listed $99,900 Active
3. 2010-06-30
   soldstatus $120,000
4. 2010-06-29
   soldstatus $120,000 459-char remark

   Show marketing remark (457 chars)

   Ref. #10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts. 1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

5. 2010-06-29
   soldstatus $120,000 457-char remark

   Show marketing remark (457 chars)

   Ref. #10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts. 1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

6. 2010-05-12
   historical 457-char remark

   Show marketing remark (457 chars)

   Ref. #10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts. 1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

7. 2009-11-04
   listed $128,000 459-char remark

   Show marketing remark (457 chars)

   Ref. #10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts. 1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

8. 2009-11-04
   listed $128,000 457-char remark

   Show marketing remark (457 chars)

   Ref. #10759. Carefree condo living at it's best. Wonderful 2nd floor unit, well maintained and conveniently located near schools, shopping and access to Rts. 1 and 13. Master bedroom and bath located on main level, 2 bedrooms and bath located in upper level loft. Large balcony off great room and master bedroom. Additional enclosed balcony provides extra living space. All appliances, skylights, fireplace, tiled baths, all this home needs is new owners!

9. 2006-12-29
   soldstatus $125,000
10. 2006-12-04
    historical
11. 2006-12-04
    listed $125,000
12. 2001-03-01
    soldstatus $85,000
13. 2001-02-28
    soldstatus $85,000
14. 2000-11-18
    historical
15. 2000-08-30
    listed $85,000
16. 1988-10-01
    soldstatus $60,000

ⓘ 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: $916 · $76/mo
• Projected year-2 tax: $916 · $76/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,993
• − Mortgage interest: −$5,596
• − Property taxes: −$916
• − Insurance: −$500
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − HOA: −$996
• − Depreciation: −$2,906
• Taxable income: $6,721
• Est. tax owed @ 24.0%: −$1,613
• After-tax cash flow: $6,274/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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

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 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

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: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

+66.5% since first listed

16 events — show timeline

• 2026-03-31 Pending — BRIGHT MLS
• 2026-03-17 Listed $99,900 BRIGHT MLS
• 2010-06-30 Sold (Public Records) $120,000 Public Records
• 2010-06-29 Sold (MLS) $120,000 BRIGHT MLS
• 2010-06-29 Sold (MLS) $120,000 TREND
• 2010-05-12 Listing Removed — BRIGHT MLS
• 2009-11-04 Listed $128,000 BRIGHT MLS
• 2009-11-04 Listed $128,000 TREND
• 2006-12-29 Sold (MLS) $125,000 BRIGHT MLS
• 2006-12-04 Listed $125,000 BRIGHT MLS
• 2006-12-04 Listing Removed — BRIGHT MLS
• 2001-03-01 Sold (Public Records) $85,000 Public Records
• 2001-02-28 Sold (MLS) $85,000 BRIGHT MLS
• 2000-11-18 Listing Removed — BRIGHT MLS
• 2000-08-30 Listed $85,000 BRIGHT MLS
• 1988-10-01 Sold (Public Records) $60,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $916 · +3.5% YoY. Source: county tax records.