210 Eaton Dr Unit A002 · Smyrna, DE 19734

$60,000

2 bd · 2.0 ba · 915 sqft · SingleFamily · 35 Days on market

Built 2021 Good condition

---

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
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the small community feel in this meticulously maintained 2021 manufactured home in Frederick Lodge. With 2 spacious bedrooms and 2 full bathrooms, this residence offers an inviting open floor plan that seamlessly blends the kitchen and living areas, ideal for entertaining or cozy nights in. Enjoy modern living with stainless steel appliances, including a built-in microwave, dishwasher, and washer/dryer, ensuring convenience at your fingertips. The bathrooms offer both worlds, with one featuring a luxurious walk-in shower, and the other a tub shower, catering to your relaxation needs. Additional highlights include built-ins for extra storage and a dedicated laundry area. Outside, a

Key facts

• Open floor plan
• Handy shed
• Built-in microwave

Tags

• METICULOUSLY MAINTAINED
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• BUILT-IN MICROWAVE
• DEDICATED LAUNDRY AREA
• HANDY SHED

Property features AI

Finance

• Other: Not in a federal flood zone
• Financial info: Ownership: Land lease; Property managed by a property manager; Property condition: Excellent
• HOA & community: Ground rent exists with monthly land lease; Monthly land lease: $545; Ground rent paid annually; Land lease years remaining: 1

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric hot water; Municipal trash not provided
• Home design: Manufactured single-wide home; Vinyl siding; Modular/manufactured construction
• Construction: Estimated year built; Vinyl siding construction; Manufactured structure
• Exterior features: Shed on property; Above-grade other structures

Interior

• Kitchen: Built-in microwave; Stove; Refrigerator; Dishwasher; Stainless steel appliances
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (one with walk-in shower)
• Heating & cooling: Forced air heating (propane - metered); Central air conditioning
• Interior features: Open floor plan with combination kitchen and living area; Built-ins; Tub/shower and walk-in shower
• Laundry & utility: Washer and dryer included; Has laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.3% vs local median 3.6% in Smyrna — 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 69/100 on livability (#29 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Appoquinimink School District (rural): math 37% / reading 52% proficiency, ranked #6 of 26 in DE (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 115 active listings in the ZIP; 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 $415 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 + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 3.20% ✓
• Cap rate: 28.29%
• Cash-on-cash: 78.56%
• DSCR: 4.50
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $255,285
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Anchor Inn Rd	0.47mi	2/2.0	825 (-10%)	22mo	$230,000	$279	44

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: 78.7%
• Equity multiple: 4.59×
• Total profit: $60,359
• Equity at exit: $8,946

10-year hold

• IRR: 82.2%
• Equity multiple: 9.50×
• Total profit: $142,881
• Equity at exit: $5,188

Cash invested: $16,800 (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 19734

• Home prices YoY: -30.7%
• Active inventory: 115
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,917 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $1,100

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,141	-5% $1,121	+0% $1,100	+5% $1,079	+10% $1,058
Rent	-10% $948	-5% $1,024	+0% $1,100	+5% $1,176	+10% $1,251
Rate	-1.0pp $1,130	-0.5pp $1,115	base $1,100	+0.5pp $1,084	+1.0pp $1,069

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   statusdays on market $60,000 Active Under Contract 35 DOM
2. 2026-06-18
   days on market $60,000 Active 33 DOM
3. 2026-06-17
   days on market $60,000 Active 32 DOM
4. 2026-06-16
   days on market $60,000 Active 31 DOM
5. 2026-06-15
   days on market $60,000 Active 30 DOM
6. 2026-06-13
   days on market $60,000 Active 28 DOM
7. 2026-06-09
   days on market $60,000 Active 24 DOM
8. 2026-06-08
   days on market $60,000 Active 23 DOM
9. 2026-06-07
   days on market $60,000 Active 22 DOM
10. 2026-06-04
    days on market $60,000 Active 19 DOM
11. 2026-06-03
    days on market $60,000 Active 18 DOM
12. 2026-06-02
    days on market $60,000 Active 17 DOM
13. 2026-06-01
    days on market $60,000 Active 16 DOM
14. 2026-05-31
    days on market $60,000 Active 15 DOM
15. 2026-05-16
    listed $60,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $23,006
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$1,745
• Taxable income: $13,018
• Est. tax owed @ 24.0%: −$3,124
• After-tax cash flow: $10,074/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 · 13 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It has a good foundation and structure, and the HVAC and mechanical systems appear to be in good condition. The home has a good curb appeal and landscaping. The home is move-in ready and has a good resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can improve the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Upgrading the flooring — Upgrading the flooring can improve the overall look and feel of the home, making it more attractive to potential buyers and renters.
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can improve the functionality and aesthetics of the kitchen, making it more attractive to potential buyers and renters.
• Both Upgrading the bathrooms — Upgrading the bathrooms can improve the functionality and aesthetics of the bathrooms, making it more attractive to potential buyers and renters.
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and overall aesthetic of the home, making it more attractive to potential buyers and renters.
• Both Upgrading the HVAC system — Upgrading the HVAC system can improve the comfort and energy efficiency of the home, making it more attractive to potential buyers and renters.
• Both Upgrading the exterior siding — Upgrading the exterior siding can improve the curb appeal and overall aesthetic of the home, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can improve the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Upgrading the flooring — Upgrading the flooring can improve the overall look and feel of the home, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can improve the functionality and aesthetics of the kitchen, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the bathrooms — Upgrading the bathrooms can improve the functionality and aesthetics of the bathrooms, making it more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and overall aesthetic of the home, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the HVAC system — Upgrading the HVAC system can improve the comfort and energy efficiency of the home, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the exterior siding — Upgrading the exterior siding can improve the curb appeal and overall aesthetic of the home, making it more attractive to potential buyers and renters. ↑

ⓘ 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: Appoquinimink School District
• NCES district ID: 1000080
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 52% ▼ -13.00%
• Median HH income: $93,397
• Composite: 42.32/100
• National rank: #3256
• State rank: #6 of 26 in DE

Livability — Smyrna

• Score: 69/100
• State rank: #29
• US rank: #8702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,151

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 White (66%)
• Race & ethnicity: White 66% Black 22% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 9% Italian 2% Serbian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 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: ▼ -132.85%
• Current HPI: 300.0673
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-16 Listed $60,000 BRIGHT MLS