20333 Donovans Rd · Georgetown, DE 19947

$165,000

3 bd · 2.0 ba · 576 sqft · SingleFamily · 23 Days on market

Built 2024 6,534 sqft lot

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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).

• Cash flow +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price changed: CASH OFFER WOULD BE ACCEPTED ! come Sunday from 3-4 Pm Hurry, QUICK settlement requested by sellers Affordable homeownership opportunity located near Routes 113 and Georgetown, DE! This charming single-family tiny home offers 3 bedrooms, 1 full bath and 1 car detached garage — perfect for buyers looking to stop paying rent and start building equity. Ideal for an investor seeking rental income or an owner-occupant looking for an affordable place to call home. Convenient location with easy access to shopping, dining, beaches, and major routes. Don’t miss this unique opportunity at affordable living in Sussex County!

Key facts

• 6,534 sq ft lot
• Built 2024
• Listed 23 days

Property features AI

Exterior

• Parking: Other parking
• Utilities: Well water; Private septic tank
• Home design: Detached property; Effective year of major renovation: 2024; Year built information sourced from assessor
• Construction: Combination construction materials; Slab foundation; Above-grade and below-grade structures noted
• Exterior features: Not in a federal flood zone; Lot dimensions approximately 60 x 110

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: 90% forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Living area sourced from assessor; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/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 $165k (0.1% below list).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.9% in Georgetown — 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 68/100 on livability (#35 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living B+; Watch: amenities D+, commute D+, schools D.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 204 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($163k) 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 $162,525 (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. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-16,367
• Equity at exit: $24,602

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-830
• Equity at exit: $14,266

Cash invested: $46,200 (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 19947

• Home prices YoY: -9.3%
• Active inventory: 204
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,649 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $162

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 85%

Sensitivity live

Price	-10% $276	-5% $219	+0% $162	+5% $105	+10% $48
Rent	-10% $32	-5% $97	+0% $162	+5% $228	+10% $293
Rate	-1.0pp $246	-0.5pp $204	base $162	+0.5pp $120	+1.0pp $76

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 College Park Dr Georgetown, DE	1.0–2.0	1.0–2.0	856	$1,649	$1.93	14d	1	0.70mi

Listing history 17 events

1. 2026-06-18
   days on market $165,000 Active 23 DOM
2. 2026-06-17
   days on market $165,000 Active 22 DOM
3. 2026-06-16
   days on market $165,000 Active 21 DOM
4. 2026-06-15
   days on market $165,000 Active 20 DOM
5. 2026-06-14
   remarks 637-char remark
6. 2026-06-14
   pricedays on market $165,000 Active 18 DOM
7. 2026-06-13
   days on market $179,900 Active 17 DOM
8. 2026-06-10
   days on market $179,900 Active 15 DOM
9. 2026-06-09
   days on market $179,900 Active 14 DOM
10. 2026-06-09
    price $179,900 Active 13 DOM
11. 2026-06-08
    days on market $199,000 Active 13 DOM
12. 2026-06-07
    days on market $199,000 Active 12 DOM
13. 2026-06-02
    days on market $199,000 Active 7 DOM
14. 2026-06-01
    pricedays on market $199,000 Active 6 DOM
15. 2026-05-31
    days on market $240,000 Active 5 DOM
16. 2026-05-30
    days on market $240,000 Active 4 DOM
17. 2026-05-25
    historical $240,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,788
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$4,800
• Taxable loss: −$721
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $2,122/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: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

Livability — Georgetown

• Score: 68/100
• State rank: #35
• US rank: #9760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,343

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 48% Hispanic / Latino 37% Two or more races 11% Black 10% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% French/Haitian/Cajun 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.22%
• Current HPI: 341.8283
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-25 Coming Soon $240,000 BRIGHT MLS

Property tax history

+22.5%/yr

Latest (2025): $316 · +665.0% YoY. Source: county tax records.