321 Tyler Ln · Smyrna, DE 19977

$300,000

3 bd · 2.0 ba · 1,524 sqft · SingleFamily public records · 5 Days on market

Built 1963 10,237 sqft lot Est $311k · at est.

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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 +15.0/30.0
• ARV discount +9.1/15.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cottage Dale Acres! Charming ranch home situated in a lovely established neighborhood featuring: 3BR/2BA, living room w/ fireplace, kitchen with fireplace & adjoining sitting area (sm. family room), sunroom & attached garage. Hardwood floors throughout most of the home. Ready for your personal touch & updates - great potential with the opportunity to make it your own.

Key facts

• Sunroom
• Kitchen fireplace
• Hardwood floors

Tags

• LIVING ROOM FIREPLACE
• KITCHEN FIREPLACE
• ADJOINING SITTING AREA
• SUNROOM
• HARDWOOD FLOORS

Property features AI

Exterior

• Parking: Attached front-entry garage with inside access and garage door opener; Driveway parking and on-street parking available
• Utilities: Public water; Public septic; Natural gas hot water and heating
• Home design: Detached single-family home; Finished above-grade area (1,524); Fee simple ownership
• Construction: Brick construction; Crawl space foundation; Other structures noted above and below grade; Built (year source: Assessor)
• Exterior features: Wood fencing; Lot dimensions approximately 100.00 x 109.64

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Baseboard hot water heating; Central air conditioning (electric)
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $96 ($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 $234k (22.1% below list).
• Recommended offer: $234k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Smyrna School District (rural): math 22% / reading 39% proficiency, ranked #16 of 26 in DE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 220 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,201 units permitted in Kent County in 2024 (116 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 $9k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $300k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $233,621 (22.1% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.78% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.36%
• DSCR: 1.06
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $310,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Tyler Ln	0.00mi	3/2.0	1,524 (0%)	0mo	$275,000	$180	100
419 Mulberry St	0.30mi	3/2.0	1,536 (+1%)	3mo	$385,000	$251	82
521 Cindy Ln	0.17mi	2/2.0 (-1)	1,566 (+3%)	7mo	$420,000	$268	77
13 N Howard St	0.49mi	3/1.0	1,470 (-4%)	8mo	$115,000	$78	61
525 W Commerce St	0.42mi	3/1.5	1,369 (-10%)	1mo	$283,000	$207	60
133 W Frazier St	0.22mi	3/1.0	1,316 (-14%)	7mo	$320,000	$243	57
608 Lexington Ave	0.43mi	3/2.5	1,680 (+10%)	10mo	$300,000	$179	53
166 Collins Ave	0.52mi	3/1.5	1,320 (-13%)	2mo	$320,000	$242	50
14 E Commerce St	0.54mi	3/1.5	1,728 (+13%)	7mo	$244,900	$142	45
218 N Union St	0.60mi	3/1.0	1,300 (-15%)	4mo	$265,000	$204	40
110 N Dupont Blvd	0.74mi	4/2.0 (+1)	1,711 (+12%)	4mo	$275,000	$161	37
803 Culbreath St	0.73mi	2/1.0 (-1)	1,316 (-14%)	9mo	$205,000	$156	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-42,694
• Equity at exit: $44,731

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-30,008
• Equity at exit: $25,939

Cash invested: $84,000 (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 19977

• Home prices YoY: -29.1%
• Active inventory: 220
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,336 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$52 /mo · $623/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $96

Break-even live

Break-even rent $2,215

Max offer price $300,000

Occupancy floor 91%

Sensitivity live

Price	-10% $265	-5% $180	+0% $96	+5% $-331	+10% $-435
Rent	-10% $-89	-5% $3	+0% $96	+5% $188	+10% $280
Rate	-1.0pp $247	-0.5pp $172	base $96	+0.5pp $18	+1.0pp $-61

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Harkins Dr Smyrna, DE	3.0	1.5	1300	$2,200	$1.69	45d	1	0.97mi
150 Greens Branch Ln Smyrna, DE	4.0	2.5	2105	$2,500	$1.19	45d	1	0.99mi

Listing history 4 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   historical
3. 2026-05-08
   listed $300,000 Active
4. 1984-02-01
   soldstatus $80,500

ⓘ 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: $623 · $52/mo
• Projected year-2 tax: $1,181 · $98/mo
• Expected delta: +$559/yr (+$47/mo · 89.8%)

ⓘ 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 8/10 Severe 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $28,035
• − Mortgage interest: −$16,805
• − Property taxes: −$623
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,243
• − Management: −$2,243
• − Depreciation: −$8,727
• Taxable loss: −$4,105
• Est. tax savings @ 24.0%: +$985
• After-tax cash flow: $2,131/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: Smyrna School District
• NCES district ID: 1001620
• Math proficiency: 22% ▼ -25.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $61,704
• Composite: 27.67/100
• National rank: #6915
• State rank: #16 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

• Census place: Smyrna, DE
• Population (ZIP): 27,164

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 0.59)
• Race & ethnicity: White 56% Black 29% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 5% Hispanic 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 2% Other Asian/Pacific 2%

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: ▼ -110.14%
• Current HPI: 267.998
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+272.7% since first listed

4 events — show timeline

• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-13 Listing Removed — BRIGHT MLS
• 2026-05-08 Listed $300,000 BRIGHT MLS
• 1984-02-01 Sold (Public Records) $80,500 Public Records

Property tax history

-1.7%/yr

Latest (2025): $623 · -14.0% YoY. Source: county tax records.