229 Bayard Ave · Wilmington, DE 19805

$210,000

4 bd · 1.0 ba · 1,625 sqft · Townhouse public records · 14 Days on market

Built 1925 1,742 sqft lot Est $254k · 17% 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).

• Cash flow +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 229 Bayard Ave! This 4 bed, 1 bath home is ready for new owners. The home offers lots of charm and with some updates can be perfect for an owner occupant or someone handy! Located in the heart of Wilmington, this property is centrally located close to many shops and dining as well as minutes from I-95. Schedule your tour today!

Key facts

• Minutes from i-95
• Centrally located
• Close to shops

Tags

• CENTRALLY LOCATED
• CLOSE TO SHOPS
• CLOSE TO DINING
• MINUTES FROM I-95

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/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 $208k (0.8% below list).
• Recommended offer: $208k (0.8% below list) — sets the bar for 1% rule.
• Cap rate 8.3% 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 (+6.3%/yr); 167 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 41% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 + 6.3% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $208,263 (0.8% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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?
4. 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?
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: 0.99% ✗
• Cap rate: 8.30%
• Cash-on-cash: 7.17%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $253,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 N Union St	0.30mi	3/1.5 (-1)	1,600 (-2%)	3mo	$210,000	$131	74
1528 W 4th St	0.46mi	4/1.5	1,525 (-6%)	2mo	$145,000	$95	65
20 Servan Ct	0.11mi	3/3.5 (-1)	1,750 (+8%)	3mo	$335,000	$191	64
1911 Lancaster Ave	0.22mi	3/1.5 (-1)	1,425 (-12%)	3mo	$254,900	$179	60
130 N Connell St	0.65mi	4/1.5	1,575 (-3%)	4mo	$135,090	$86	60
2735 W Third St	0.36mi	3/1.5 (-1)	1,475 (-9%)	3mo	$230,000	$156	59
1302 W 6th St	0.69mi	4/2.5	1,525 (-6%)	1mo	$265,000	$174	51
1407 W 6th St	0.57mi	5/1.0 (+1)	1,800 (+11%)	1mo	$233,000	$129	49
606 N Franklin St	0.72mi	4/2.0	1,500 (-8%)	2mo	$140,000	$93	48
1205 Woodlawn Ave	0.62mi	3/2.0 (-1)	1,500 (-8%)	2mo	$351,000	$234	48
307 N Rodney St	0.51mi	3/1.5 (-1)	1,425 (-12%)	3mo	$130,000	$91	46
422 S Broom St	0.68mi	3/2.0 (-1)	1,400 (-14%)	1mo	$299,900	$214	35

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-4,470
• Equity at exit: $31,312

10-year hold

• IRR: 10.8%
• Equity multiple: 1.96×
• Total profit: $56,542
• Equity at exit: $18,157

Cash invested: $58,800 (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 19805

• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$105 /mo · $1,264/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $351

Break-even live

Break-even rent $1,638

Max offer price $210,000

Occupancy floor 78%

Sensitivity live

Price	-10% $470	-5% $411	+0% $351	+5% $292	+10% $232
Rent	-10% $187	-5% $269	+0% $351	+5% $433	+10% $516
Rate	-1.0pp $457	-0.5pp $405	base $351	+0.5pp $297	+1.0pp $241

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1913 W 2nd St Unit 1913 Wilmington, DE	5.0	1.5	1675	$2,050	$1.22	44d	1	0.22mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	44d	1	0.37mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	19d	1	0.46mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	12d	1	0.47mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	24d	1	0.49mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	19d	1	0.52mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	44d	1	0.52mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	4d	1	0.53mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	5d	1	0.66mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	4d	1	0.70mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	12d	1	0.71mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	44d	1	0.71mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	15d	1	0.76mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	44d	1	0.81mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	0.86mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	5d	1	0.87mi
1110 Maple St Wilmington, DE	3.0	1.0	1525	$1,600	$1.05	44d	1	0.89mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	44d	1	0.90mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	19d	1	0.96mi
3403 Lancaster Pike Wilmington, DE	1.0–3.0	1.0	916	$1,874	$2.05	2d	4	0.96mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	44d	1	1.04mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	44d	1	1.04mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	4d	1	1.05mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,975	$1.36	15d	1	1.05mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	17d	1	1.11mi
27 Vilone Rd Wilmington, DE	3.0	1.0	1225	$2,000	$1.63	5d	1	1.16mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	1.19mi
205 Western Ave Wilmington, DE	4.0	2.5	1225	$2,300	$1.88	44d	1	1.23mi
1601 Bonwood Rd Wilmington, DE	3.0	1.5	1500	$1,850	$1.23	24d	1	1.32mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	1.41mi
275 Filbert Ave Wilmington, DE	3.0	1.0	1225	$1,495	$1.22	3d	1	1.45mi
1109 Montgomery Rd Wilmington, DE	4.0	2.0	1275	$1,850	$1.45	19d	1	1.50mi

Listing history 2 events

1. 2026-03-28
   status Pending
2. 2026-03-13
   listed $210,000 Active

ⓘ 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: $1,264 · $105/mo
• Projected year-2 tax: $1,264 · $105/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 8/10 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,992
• − Mortgage interest: −$11,763
• − Property taxes: −$1,264
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$6,109
• Taxable income: $807
• Est. tax owed @ 24.0%: −$194
• After-tax cash flow: $4,021/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): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-03-28 Pending — BRIGHT MLS
• 2026-03-13 Listed $210,000 BRIGHT MLS

Property tax history

+26.2%/yr

Latest (2024): $1,264 · +15.1% YoY. Source: county tax records.