201 S Rodney St · Clayton, DE 19938

$225,000

3 bd · 2.0 ba · 1,492 sqft · SingleFamily public records · 22 Days on market

Built 1900 8,015 sqft lot $151/sqft · 17% below area Est $293k · 23% under ↓ 10% since listing

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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 +15.0/15.0
• Cash flow +10.9/30.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Whether you're dreaming of a thoughtful renovation or simply looking to invest, this property offers a great location & possibilities. Situated on a corner lot. Come enjoy small town living. .. parades, outdoor movies, quaint dining, local bakery, firehouse crab feasts & more.

Key facts

• 8,015 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (30.0% below list).
• Recommended offer: $158k (30.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 1.9% in Clayton — 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 (#11 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D+, amenities F, commute F.
• Smyrna School District (rural): math 22% / reading 39% proficiency, ranked #16 of 26 in DE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% 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 $157,500 (30.0% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.70% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• GRM: 11.9

CMA / ARV

• ARV (median comp): $292,641
• List price: $225,000
• Delta: -23.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Nugent Loop	0.32mi	3/2.5	1,642 (+10%)	1mo	$345,000	$210	65
381 Duck Creek Pkwy	0.62mi	3/2.0	1,512 (+1%)	5mo	$275,000	$182	65
501 West St	0.37mi	3/2.0	1,348 (-10%)	3mo	$308,000	$228	64
212 S Main St	0.08mi	4/2.0 (+1)	1,708 (+14%)	4mo	$130,000	$76	64
128 N Bassett St	0.20mi	3/1.5	1,614 (+8%)	14mo	$219,900	$136	63
1164 Smyrna Clayton Blvd	0.32mi	4/1.5 (+1)	1,548 (+4%)	18mo	$340,000	$220	57
66 N Longwood Ln	0.68mi	3/2.5	1,440 (-4%)	5mo	$335,000	$233	56
1 Camden Circle Cir	0.56mi	3/2.0	1,568 (+5%)	20mo	$135,000	$86	48
42 Gardenside Dr	0.74mi	3/2.0	1,492 (0%)	22mo	$400,900	$269	47
722 W Glenwood Ave	0.67mi	3/1.0	1,281 (-14%)	6mo	$237,000	$185	36
803 Culbreath St	0.65mi	2/1.0 (-1)	1,316 (-12%)	9mo	$205,000	$156	34
939 Tamara Dr	0.61mi	3/2.0	1,274 (-15%)	22mo	$327,500	$257	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-42,823
• Equity at exit: $33,548

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-45,781
• Equity at exit: $19,454

Cash invested: $63,000 (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 19938

• Home prices YoY: -26.8%
• Active inventory: 31
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-98

Break-even live

Break-even rent $1,699

Max offer price $207,645

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Rehoboth Cir Clayton, DE	2.0	2.0	1056	$1,575	$1.49	22d	1	0.58mi

Listing history 3 events

1. 2026-05-15
   status Pending 289-char remark

   Show marketing remark (289 chars)

   Whether you're dreaming of a thoughtful renovation or simply looking to invest, this property offers a great location & possibilities. Situated on a corner lot. Come enjoy small town living. .. parades, outdoor movies, quaint dining, local bakery, firehouse crab feasts & more.

2. 2026-05-08
   price $225,000 289-char remark

   Show marketing remark (289 chars)

   Whether you're dreaming of a thoughtful renovation or simply looking to invest, this property offers a great location & possibilities. Situated on a corner lot. Come enjoy small town living. .. parades, outdoor movies, quaint dining, local bakery, firehouse crab feasts & more.

3. 2026-04-22
   listed $250,000 Active 289-char remark

   Show marketing remark (289 chars)

   Whether you're dreaming of a thoughtful renovation or simply looking to invest, this property offers a great location & possibilities. Situated on a corner lot. Come enjoy small town living. .. parades, outdoor movies, quaint dining, local bakery, firehouse crab feasts & more.

ⓘ 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: $826 · $69/mo
• Projected year-2 tax: $1,065 · $89/mo
• Expected delta: +$240/yr (+$20/mo · 29.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,900
• − Mortgage interest: −$12,603
• − Property taxes: −$826
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$6,545
• Taxable loss: −$5,224
• Est. tax savings @ 24.0%: +$1,254
• After-tax cash flow: $75/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: Smyrna School District
• NCES district ID: 1001620
• Math proficiency: 22% ▼ -25.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $61,704
• Composite: 27.67/100
• National rank: #6915
• State rank: #16 of 26 in DE

Livability — Clayton

• Score: 72/100
• State rank: #11
• US rank: #5758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, DE
• Population (ZIP): 9,867

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 21% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Subsaharan African 1%
• Foreign-born: 5% · Canada, Vietnam, South Korea
• Languages at home: 92% English-only · Spanish 3% Korean 1% Vietnamese 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: ▼ -70.09%
• Current HPI: 191.9556
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

3 events — show timeline

• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-08 Price Changed $225,000 BRIGHT MLS
• 2026-04-22 Listed $250,000 BRIGHT MLS

Property tax history

+6.1%/yr

Latest (2025): $826 · +31.7% YoY. Source: county tax records.