1602 Harvey Rd · Ardencroft, DE 19810

$335,000

3 bd · 2.0 ba · 2,625 sqft · SingleFamily public records · 202 Days on market

Built 1963 10,454 sqft lot $128/sqft · 32% below area Est $489k · 32% under

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Why this score? — see what drove the C- 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 +14.8/30.0
• DSCR +4.5/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

Key facts

• 0.24 acre lot
• Built 1963
• Listed 202 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (17.8% below list).
• Recommended offer: $275k (17.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#23 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools D+, cost of living D, amenities F.
• Brandywine School District (suburban): math 28% / reading 40% proficiency, ranked #11 of 26 in DE (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 62 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,215 (17.8% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.82% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (median comp): $489,229
• List price: $335,000
• Delta: -31.52%
• 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
69 Indian Field Rd	0.45mi	3/2.5	2,600 (-1%)	5mo	$725,000	$279	71
12 W Dale Rd	0.51mi	3/2.5	2,400 (-9%)	3mo	$595,000	$248	57
48 Weilers Bnd	0.52mi	3/2.5	2,655 (+1%)	21mo	$520,000	$196	54
103 Scotts Way	0.52mi	3/3.0	2,425 (-8%)	12mo	$592,000	$244	49
2105 Swinnen Dr	0.69mi	4/2.5 (+1)	2,575 (-2%)	15mo	$560,000	$217	45
66 Weilers Bnd	0.56mi	3/2.5	2,325 (-11%)	10mo	$650,000	$280	44
3 Durboraw Rd	0.66mi	4/2.5 (+1)	2,425 (-8%)	9mo	$549,999	$227	42
48 Osage Rd	0.67mi	4/2.5 (+1)	2,375 (-10%)	8mo	$430,000	$181	39
131 Compass Dr	0.74mi	4/2.0 (+1)	2,300 (-12%)	4mo	$412,000	$179	37
2141 Westminster Dr	0.74mi	4/2.5 (+1)	2,400 (-9%)	13mo	$549,900	$229	33
176 Honeywell Dr	0.72mi	4/2.5 (+1)	2,475 (-6%)	22mo	$430,000	$174	31
7 Farm Ave	0.69mi	4/2.0 (+1)	2,925 (+11%)	22mo	$467,000	$160	26

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-44,653
• Equity at exit: $49,950

10-year hold

• IRR: -2.4%
• Equity multiple: 0.83×
• Total profit: $-15,752
• Equity at exit: $28,965

Cash invested: $93,800 (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 19810

• Rents YoY: 4.3%
• Active inventory: 62
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,752 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$184 /mo · $2,209/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $94

Break-even live

Break-even rent $2,633

Max offer price $335,000

Occupancy floor 92%

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Commonwealth Ave Claymont, DE	3.0	2.5	1800	$2,500	$1.39	44d	1	1.12mi
309 Rockmeade Dr Wilmington, DE	3.0	2.5	2390	$3,000	$1.26	17d	1	1.29mi
3744 Green St Claymont, DE	3.0	3.5	2275	$2,900	$1.27	24d	1	1.32mi
3847 Green St Claymont, DE	3.0	2.5	2500	$2,600	$1.04	44d	1	1.34mi
1911 Longcome Dr Wilmington, DE	4.0	3.0	2075	$3,400	$1.64	24d	1	1.36mi
1331 Parish Ave Claymont, DE	4.0	3.5	1920	$2,800	$1.46	44d	1	1.38mi
1367 Parish Ave Claymont, DE	4.0	3.5	2100	$2,700	$1.29	1d	1	1.43mi
2601 Carpenter Station Rd Wilmington, DE	1.0–3.0	1.0–2.5	1405	$2,600	$1.85	1d	15	1.46mi

Listing history 36 events

1. 2026-06-18
   days on market $335,000 Active 202 DOM
2. 2026-06-17
   days on market $335,000 Active 201 DOM
3. 2026-06-16
   days on market $335,000 Active 200 DOM
4. 2026-06-15
   days on market $335,000 Active 199 DOM
5. 2026-06-13
   days on market $335,000 Active 197 DOM
6. 2026-06-09
   days on market $335,000 Active 193 DOM
7. 2026-06-08
   days on market $335,000 Active 192 DOM
8. 2026-06-07
   days on market $335,000 Active 191 DOM
9. 2026-06-04
   days on market $335,000 Active 188 DOM
10. 2026-06-03
    days on market $335,000 Active 187 DOM
11. 2026-06-02
    days on market $335,000 Active 186 DOM
12. 2026-06-01
    days on market $335,000 Active 185 DOM
13. 2026-05-31
    days on market $335,000 Active 184 DOM
14. 2026-02-21
    price $335,000 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

15. 2026-02-21
    status Active 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

16. 2026-02-21
    historical 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

17. 2026-02-21
    status Active 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

18. 2026-02-19
    historical Active Under Contract 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

19. 2026-01-05
    price $350,000 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

20. 2025-12-09
    price $360,000 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

21. 2025-11-27
    listed $365,000 Active 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

22. 2025-11-26
    historical $365,000 518-char remark

    Show marketing remark (518 chars)

    Calling all investors, flippers, and renovators—this property is a prime opportunity to bring your vision to life. The home needs work throughout and is being sold as-is. The seller will make no repairs, offering a blank canvas with strong potential for the right buyer. Conveniently located and full of possibilities, this is your chance to add value and create something special. Property has a community land rent in which the annual taxes are paid by the community from the total land rent paid for the year.

23. 2010-03-26
    soldstatus $225,000 635-char remark

    Show marketing remark (635 chars)

    Motivated Sellers!!! Bring REASONABLE offers. Partially renovated Ardencroft classic has great bones and just needs your finishing touches. Granite countertops, hardwood floors on main level, beautiful updated bathroom, new heater (2001), new central air (2002), new hot water heater (2002), totally rewired electric (2001), updated windows, updated appliances (all included), and much more. The finished basement is HUGE and can be used for extra living space or converted into an in-law suite. Tons of possibilities. Property being sold as-is but home inspections are welcome. One year home warranty included for added peace of mind.

24. 2010-03-26
    soldstatus $225,000

    Show marketing remark (635 chars)

    Motivated Sellers!!! Bring REASONABLE offers. Partially renovated Ardencroft classic has great bones and just needs your finishing touches. Granite countertops, hardwood floors on main level, beautiful updated bathroom, new heater (2001), new central air (2002), new hot water heater (2002), totally rewired electric (2001), updated windows, updated appliances (all included), and much more. The finished basement is HUGE and can be used for extra living space or converted into an in-law suite. Tons of possibilities. Property being sold as-is but home inspections are welcome. One year home warranty included for added peace of mind.

25. 2010-03-13
    historical 635-char remark

    Show marketing remark (635 chars)

    Motivated Sellers!!! Bring REASONABLE offers. Partially renovated Ardencroft classic has great bones and just needs your finishing touches. Granite countertops, hardwood floors on main level, beautiful updated bathroom, new heater (2001), new central air (2002), new hot water heater (2002), totally rewired electric (2001), updated windows, updated appliances (all included), and much more. The finished basement is HUGE and can be used for extra living space or converted into an in-law suite. Tons of possibilities. Property being sold as-is but home inspections are welcome. One year home warranty included for added peace of mind.

26. 2010-02-28
    listed $259,000 635-char remark

    Show marketing remark (635 chars)

    Motivated Sellers!!! Bring REASONABLE offers. Partially renovated Ardencroft classic has great bones and just needs your finishing touches. Granite countertops, hardwood floors on main level, beautiful updated bathroom, new heater (2001), new central air (2002), new hot water heater (2002), totally rewired electric (2001), updated windows, updated appliances (all included), and much more. The finished basement is HUGE and can be used for extra living space or converted into an in-law suite. Tons of possibilities. Property being sold as-is but home inspections are welcome. One year home warranty included for added peace of mind.

27. 2010-02-28
    listed $259,000

    Show marketing remark (635 chars)

    Motivated Sellers!!! Bring REASONABLE offers. Partially renovated Ardencroft classic has great bones and just needs your finishing touches. Granite countertops, hardwood floors on main level, beautiful updated bathroom, new heater (2001), new central air (2002), new hot water heater (2002), totally rewired electric (2001), updated windows, updated appliances (all included), and much more. The finished basement is HUGE and can be used for extra living space or converted into an in-law suite. Tons of possibilities. Property being sold as-is but home inspections are welcome. One year home warranty included for added peace of mind.

28. 2010-02-17
    historical
29. 2009-06-29
    listed $265,000
30. 2009-06-22
    historical
31. 2008-06-26
    listed $295,000
32. 2001-07-03
    soldstatus $159,800
33. 2001-07-03
    soldstatus $159,800
34. 2001-06-28
    soldstatus $159,800
35. 2001-05-12
    historical
36. 2001-03-01
    listed $159,800

ⓘ 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: $2,209 · $184/mo
• Projected year-2 tax: $2,209 · $184/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 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,026
• − Mortgage interest: −$18,765
• − Property taxes: −$2,209
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,642
• − Management: −$2,642
• − Depreciation: −$9,745
• Taxable loss: −$4,653
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $2,242/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: Brandywine School District
• NCES district ID: 1001240
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 40% ▼ -13.00%
• Median HH income: $68,743
• Composite: 31.27/100
• National rank: #6019
• State rank: #11 of 26 in DE

Livability — Ardencroft

• Score: 70/100
• State rank: #23
• US rank: #7865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ardencroft, DE
• County: New Castle County · 483,412 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 26,530
• Household income: $112,775
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 620.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 10% Two or more races 7% Asian 6% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 1%
• Foreign-born: 9% · China, Canada, South Korea
• Languages at home: 90% English-only · Other Indo-European 2% Other Asian/Pacific 2% Chinese 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: ▼ -238.75%
• Current HPI: 239.5077
• Rent YoY: ▲ 4.34%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+109.6% since first listed

23 events — show timeline

• 2026-02-21 Price Changed $335,000 BRIGHT MLS
• 2026-02-21 Relisted — BRIGHT MLS
• 2026-02-21 Listing Removed — BRIGHT MLS
• 2026-02-21 Relisted — BRIGHT MLS
• 2026-02-19 Contingent — BRIGHT MLS
• 2026-01-05 Price Changed $350,000 BRIGHT MLS
• 2025-12-09 Price Changed $360,000 BRIGHT MLS
• 2025-11-27 Listed $365,000 BRIGHT MLS
• 2025-11-26 Coming Soon $365,000 BRIGHT MLS
• 2010-03-26 Sold (MLS) $225,000 TREND
• 2010-03-26 Sold (MLS) $225,000 BRIGHT MLS
• 2010-03-13 Listing Removed — BRIGHT MLS
• 2010-02-28 Listed $259,000 TREND
• 2010-02-28 Listed $259,000 BRIGHT MLS
• 2010-02-17 Listing Removed — BRIGHT MLS
• 2009-06-29 Listed $265,000 BRIGHT MLS
• 2009-06-22 Listing Removed — BRIGHT MLS
• 2008-06-26 Listed $295,000 BRIGHT MLS
• 2001-07-03 Sold (Public Records) $159,800 Public Records
• 2001-07-03 Sold (Public Records) $159,800 Public Records
• 2001-06-28 Sold (MLS) $159,800 BRIGHT MLS
• 2001-05-12 Listing Removed — BRIGHT MLS
• 2001-03-01 Listed $159,800 BRIGHT MLS

Property tax history

+2.3%/yr

Latest (2024): $2,209 · +9.5% YoY. Source: county tax records.