1061 S Little Creek Rd #92 · Dover, DE 19901

$65,000

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 15 Days on market

Built 2019

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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 +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

!!!!COMING SOON!!!! Welcome to Dover East Estates! This well-maintained 2019 Skyline home offers 3 bedrooms, 2 full bathrooms, and a spacious open-concept layout designed for comfortable everyday living. Situated on a desirable corner lot, the home features an impressive kitchen with abundant cabinetry, ample counter space, and a functional design that serves as the heart of the home. Recent updates include brand-new carpeting, giving the interior a fresh and inviting feel. With two dedicated parking spaces and a convenient location close to shopping, dining, and major routes, this move-in-ready home is an excellent opportunity for buyers seeking affordability without sacrificing style and

Key facts

• 2 parking spots
• Built 2019
• Listed 15 days

Property features AI

Finance

• Other: In city limits
• Financial info: Improvement assessed value: $51,600
• HOA & community: Land lease: $640 per month; Land lease years remaining: 1

Exterior

• Parking: Attached carport (2 spaces); 2 total garage/parking spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured property; Modular/Manufactured construction; Above-grade structure
• Construction: Year built: estimated
• Exterior features: Not in a federal flood zone; Tidal water: No

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central A/C (electric); Forced air heating; Propane heating (leased); Electric hot water
• Interior features: No basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.4% 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 (+2.0%/yr); 184 active listings in the ZIP; 5 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 33% of the median local income ($66k/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 $449 of loan paydown is wiped out by about $2k 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 + 2.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $64,025 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.78% ✓
• Cap rate: 25.35%
• Cash-on-cash: 68.07%
• DSCR: 4.03
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 66.4%
• Equity multiple: 3.94×
• Total profit: $53,473
• Equity at exit: $9,692

10-year hold

• IRR: 70.3%
• Equity multiple: 7.82×
• Total profit: $124,187
• Equity at exit: $5,620

Cash invested: $18,200 (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 19901

• Rents YoY: 2.0%
• Active inventory: 184
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,805 high
• Mortgage (P&I): −$341
• Tax from tax record: −$25 /mo · $303/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $1,032

Break-even live

Break-even rent $498

Max offer price $65,000

Occupancy floor 38%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
480 Country Dr Dover, DE	3.0	1.0–2.0	715	$1,875	$2.62	44d	22	0.35mi
143 Mitscher Rd Dover, DE	2.0	1.0	770	$1,500	$1.95	44d	1	0.91mi
177 Willis Rd Dover, DE	1.0–2.0	1.0	851	$1,605	$1.88	44d	27	0.99mi
814 New Castle Ave Dover, DE	3.0	1.0	950	$1,650	$1.74	44d	1	1.04mi
820 Carvel Dr Dover, DE	1.0–2.0	1.0–1.5	782	$1,435	$1.83	44d	12	1.45mi

Listing history 11 events

1. 2026-06-18
   days on market $65,000 Coming Soon 15 DOM
2. 2026-06-17
   days on market $65,000 Coming Soon 14 DOM
3. 2026-06-16
   days on market $65,000 Coming Soon 13 DOM
4. 2026-06-15
   days on market $65,000 Coming Soon 12 DOM
5. 2026-06-14
   days on market $65,000 Coming Soon 10 DOM
6. 2026-06-13
   days on market $65,000 Coming Soon 9 DOM
7. 2026-06-10
   days on market $65,000 Coming Soon 7 DOM
8. 2026-06-09
   days on market $65,000 Coming Soon 6 DOM
9. 2026-06-08
   days on market $65,000 Coming Soon 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $65,000 Coming Soon 4 DOM

ⓘ 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: $303 · $25/mo
• Projected year-2 tax: $340 · $28/mo
• Expected delta: +$37/yr (+$3/mo · 12.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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 8/10 Severe 80% 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: $21,656
• − Mortgage interest: −$3,641
• − Property taxes: −$303
• − Insurance: −$325
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$1,891
• Taxable income: $12,031
• Est. tax owed @ 24.0%: −$2,887
• After-tax cash flow: $9,502/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): 37,763
• Household income: $66,388
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1320.0

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 0.68)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -113.29%
• Current HPI: 199.5132
• Rent YoY: ▲ 2.03%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-03 Coming Soon $65,000 BRIGHT MLS

Property tax history

+1.4%/yr

Latest (2025): $303 · +3.5% YoY. Source: county tax records.