305 W 21st St · Wilmington, DE 19802

$299,900

4 bd · 1.0 ba · 1,450 sqft · MultiFamily public records · 35 Days on market

Built 1898 2,178 sqft lot $207/sqft · 36% above area Est $221k · 36% over

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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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Move-In Ready Gem at 305 W 21st Street! Step into this stunningly refreshed home where everything feels brand new. This fully rehabbed property boasts a complete transformation from top to bottom — including a gorgeous new kitchen, beautiful new floors throughout, modern updated bathrooms, and a brand-new AC system for year-round comfort. The interior shines with fresh finishes and thoughtful updates that create a bright, clean, and inviting living space. Whether you're cooking in the sleek new kitchen, relaxing in the updated bathrooms, or simply enjoying the effortless flow of the home, every detail has been carefully upgraded for modern living. Perfect for those seeking worry-free comfort and style, this home is ready for you to unpack and enjoy immediately. No projects, no waiting — just move in and start making memories in a space that feels completely renewed. Welcome home to 305 W 21st Street — where new meets timeless charm.

Key facts

• Built 1898
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 119 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $4,300/mo this rent would consume 96% of the median local household income ($54k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 + 5.7% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y 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.
• Current owner paid $46k; list at $300k implies a 552% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — 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 $290,903 (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. Built in 1898 — 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. 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?
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 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: 1.43% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.21%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

• ARV (median comp): $221,323
• List price: $299,900
• Delta: 35.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2413 N West St	0.23mi	3/— (-1)	1,425 (-2%)	5mo	$145,000	$102	77
209 W 18th St	0.19mi	3/— (-1)	1,400 (-3%)	9mo	$315,000	$225	73
610 Concord Ave	0.27mi	3/— (-1)	1,575 (+9%)	6mo	$392,000	$249	63
103 W 27th St	0.39mi	4/—	1,375 (-5%)	16mo	$221,100	$161	60
700 W 26th St	0.38mi	3/2.0 (-1)	1,375 (-5%)	6mo	$300,000	$218	60
2239 N Pine St	0.51mi	4/2.0	1,650 (+14%)	19mo	$180,000	$109	33

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.80×
• Total profit: $66,801
• Equity at exit: $44,716

10-year hold

• IRR: 29.0%
• Equity multiple: 3.90×
• Total profit: $243,315
• Equity at exit: $25,930

Cash invested: $83,972 (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 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,300 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$75 /mo · $905/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $1,624

Break-even live

Break-even rent $2,244

Max offer price $299,900

Occupancy floor 57%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,302
Total (3 units)			$4,300

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	43d	1	0.07mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	43d	1	0.18mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	0.21mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	24d	1	0.31mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	43d	1	0.34mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	43d	1	0.36mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	43d	1	0.43mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	43d	1	0.43mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	1d	1	0.50mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	43d	1	0.53mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	43d	1	0.54mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	24d	1	0.57mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	18d	1	0.59mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	12d	1	0.62mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.80mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	16d	1	0.81mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.87mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	43d	1	0.88mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	0.88mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	0.90mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	0.93mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.93mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	0.94mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	1.06mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	1.06mi
547 Eastlawn Ave Wilmington, DE	3.0	1.0	1400	$1,995	$1.43	43d	1	1.06mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	1.15mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	3d	1	1.26mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	3d	1	1.28mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	18d	1	1.28mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	43d	1	1.39mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	1.43mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	43d	1	1.44mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	43d	1	1.45mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	11d	1	1.49mi

Listing history 26 events

1. 2026-05-13
   status Pending 964-char remark

   Show marketing remark (964 chars)

   Move-In Ready Gem at 305 W 21st Street! Step into this stunningly refreshed home where everything feels brand new. This fully rehabbed property boasts a complete transformation from top to bottom — including a gorgeous new kitchen, beautiful new floors throughout, modern updated bathrooms, and a brand-new AC system for year-round comfort. The interior shines with fresh finishes and thoughtful updates that create a bright, clean, and inviting living space. Whether you're cooking in the sleek new kitchen, relaxing in the updated bathrooms, or simply enjoying the effortless flow of the home, every detail has been carefully upgraded for modern living. Perfect for those seeking worry-free comfort and style, this home is ready for you to unpack and enjoy immediately. No projects, no waiting — just move in and start making memories in a space that feels completely renewed. Welcome home to 305 W 21st Street — where new meets timeless charm.

2. 2026-04-08
   listed $299,900 Active 964-char remark

   Show marketing remark (964 chars)

   Move-In Ready Gem at 305 W 21st Street! Step into this stunningly refreshed home where everything feels brand new. This fully rehabbed property boasts a complete transformation from top to bottom — including a gorgeous new kitchen, beautiful new floors throughout, modern updated bathrooms, and a brand-new AC system for year-round comfort. The interior shines with fresh finishes and thoughtful updates that create a bright, clean, and inviting living space. Whether you're cooking in the sleek new kitchen, relaxing in the updated bathrooms, or simply enjoying the effortless flow of the home, every detail has been carefully upgraded for modern living. Perfect for those seeking worry-free comfort and style, this home is ready for you to unpack and enjoy immediately. No projects, no waiting — just move in and start making memories in a space that feels completely renewed. Welcome home to 305 W 21st Street — where new meets timeless charm.

3. 2015-12-11
   soldstatus $46,000 Sold 612-char remark

   Show marketing remark (612 chars)

   Semi-detached two story town home is located in the triangle area of Wilmington and near the Ninth Ward! Convenient to local parks, charter schools, places of worship and the central business district. Enclosed front porch says welcome home. First floor plan is open and spacious with large living room to greet you and flows nicely into private dining room then to an updated kitchen at the rear of the house. Upstairs are three well scaled bedrooms and one full bathroom. Detached garage and full basement provides an abundance of storage space. Seller requires that offers are made via HomePath website.

4. 2015-12-11
   historical 612-char remark

   Show marketing remark (612 chars)

   Semi-detached two story town home is located in the triangle area of Wilmington and near the Ninth Ward! Convenient to local parks, charter schools, places of worship and the central business district. Enclosed front porch says welcome home. First floor plan is open and spacious with large living room to greet you and flows nicely into private dining room then to an updated kitchen at the rear of the house. Upstairs are three well scaled bedrooms and one full bathroom. Detached garage and full basement provides an abundance of storage space. Seller requires that offers are made via HomePath website.

5. 2015-12-11
   soldstatus $46,000

   Show marketing remark (612 chars)

   Semi-detached two story town home is located in the triangle area of Wilmington and near the Ninth Ward! Convenient to local parks, charter schools, places of worship and the central business district. Enclosed front porch says welcome home. First floor plan is open and spacious with large living room to greet you and flows nicely into private dining room then to an updated kitchen at the rear of the house. Upstairs are three well scaled bedrooms and one full bathroom. Detached garage and full basement provides an abundance of storage space. Seller requires that offers are made via HomePath website.

6. 2015-12-07
   historical
7. 2015-12-01
   listed $41,200 612-char remark

   Show marketing remark (612 chars)

   Semi-detached two story town home is located in the triangle area of Wilmington and near the Ninth Ward! Convenient to local parks, charter schools, places of worship and the central business district. Enclosed front porch says welcome home. First floor plan is open and spacious with large living room to greet you and flows nicely into private dining room then to an updated kitchen at the rear of the house. Upstairs are three well scaled bedrooms and one full bathroom. Detached garage and full basement provides an abundance of storage space. Seller requires that offers are made via HomePath website.

8. 2015-12-01
   listed $41,200

   Show marketing remark (612 chars)

   Semi-detached two story town home is located in the triangle area of Wilmington and near the Ninth Ward! Convenient to local parks, charter schools, places of worship and the central business district. Enclosed front porch says welcome home. First floor plan is open and spacious with large living room to greet you and flows nicely into private dining room then to an updated kitchen at the rear of the house. Upstairs are three well scaled bedrooms and one full bathroom. Detached garage and full basement provides an abundance of storage space. Seller requires that offers are made via HomePath website.

9. 2015-10-30
   historical
10. 2015-08-03
    listed $41,200
11. 2006-01-27
    soldstatus $123,500
12. 2005-12-22
    historical
13. 2005-10-18
    historical
14. 2005-10-17
    listed $123,500
15. 2005-07-06
    historical
16. 2005-06-28
    listed $129,900
17. 2005-06-28
    listed $129,900
18. 2003-05-29
    soldstatus $108,750
19. 2003-04-16
    historical
20. 2003-01-16
    listed $108,750
21. 2002-12-13
    historical
22. 2002-11-07
    listed $94,900
23. 1995-05-23
    soldstatus $75,000
24. 1994-12-02
    listed $75,000
25. 1986-08-01
    soldstatus $12,500
26. 1986-03-01
    soldstatus $24,500

ⓘ 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: $905 · $75/mo
• Projected year-2 tax: $1,322 · $110/mo
• Expected delta: +$417/yr (+$35/mo · 46.1%)

ⓘ 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 7/10 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,600
• − Mortgage interest: −$16,799
• − Property taxes: −$905
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,128
• − Management: −$4,128
• − Depreciation: −$8,724
• Taxable income: $15,416
• Est. tax owed @ 24.0%: −$3,700
• After-tax cash flow: $15,787/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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 Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+1124.1% since first listed

26 events — show timeline

• 2026-05-13 Pending — BRIGHT MLS
• 2026-04-08 Listed $299,900 BRIGHT MLS
• 2015-12-11 Sold (MLS) $46,000 BRIGHT MLS
• 2015-12-11 Delisted — TREND
• 2015-12-11 Sold (MLS) $46,000 TREND
• 2015-12-07 Listing Removed — BRIGHT MLS
• 2015-12-01 Listed $41,200 BRIGHT MLS
• 2015-12-01 Listed $41,200 TREND
• 2015-10-30 Listing Removed — BRIGHT MLS
• 2015-08-03 Listed $41,200 BRIGHT MLS
• 2006-01-27 Sold (MLS) $123,500 BRIGHT MLS
• 2005-12-22 Listing Removed — BRIGHT MLS
• 2005-10-18 Listing Removed — BRIGHT MLS
• 2005-10-17 Listed $123,500 BRIGHT MLS
• 2005-07-06 Listing Removed — BRIGHT MLS
• 2005-06-28 Listed $129,900 BRIGHT MLS
• 2005-06-28 Listed $129,900 BRIGHT MLS
• 2003-05-29 Sold (MLS) $108,750 BRIGHT MLS
• 2003-04-16 Listing Removed — BRIGHT MLS
• 2003-01-16 Listed $108,750 BRIGHT MLS
• 2002-12-13 Listing Removed — BRIGHT MLS
• 2002-11-07 Listed $94,900 BRIGHT MLS
• 1995-05-23 Sold (MLS) $75,000 BRIGHT MLS
• 1994-12-02 Listed $75,000 BRIGHT MLS
• 1986-08-01 Sold (Public Records) $12,500 Public Records
• 1986-03-01 Sold (Public Records) $24,500 Public Records

Property tax history

+3.7%/yr

Latest (2024): $905 · +15.1% YoY. Source: county tax records.