2 Southern Blvd · Wyoming, DE 19934

$165,000

4 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 20 Days on market

Built 1933 1.04 ac lot $118/sqft · 44% below area Est $306k · 46% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is being sold AS IS and used to have 2 rentals in it. 1 Unit upstairs with a full bathroom and Kitchenette. The downstairs has a full bathroom and eat in kitchen, both units need to be brought into the 21st century. This home has great bones about and is looking for a contractor that is up for the challenge. The adjoining lot next door is being sold See MLS # DEKT2046706 . this seller also has another lot on Caesar Rodney Ave see MLS # DEKT2046700. With a variance all these lots creates a great business opportunity for a small business/shop, or put twin homes on them, maybe even an apartment complex. Buyer must sign a hold harmless before entering the home. please see agent rema

Key facts

• 1.04 acre lot
• Built 1933
• Listed 19 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Other parking type
• Utilities: Public water; Public sewer
• Home design: Detached property; Estimated year built
• Construction: Other foundation; Unknown roof
• Exterior features: Open lot with rear yard and side yards; Porch(es); Shed; Other above- and below-grade structures

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Two bedrooms on the main level; Two bedrooms on the first upper level
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Forced air heating; Other heating type; Oil heating fuel; Electric hot water
• Interior features: Plaster walls; One non-functioning fireplace; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#45 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment C-, crime D, amenities F.
• Caesar Rodney School District (suburban): math 26% / reading 49% proficiency, ranked #9 of 26 in DE (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W. B. Simpson Elementary School (math 25% / reading 44%, grade F, #34 of 105 statewide, top 37%, 571 students, 0% FRL); Fred Fifer Iii Middle School (math 25% / reading 51%, grade F, #8 of 36 statewide, top 20%, 679 students, 0% FRL); Caesar Rodney High School (math 31% / reading 61%, grade D-, #7 of 40 statewide, top 15%, 2,257 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

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.
• 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 + 3.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% 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. Built in 1933 — 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 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?
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: 1.30% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (median comp): $305,609
• List price: $165,000
• Delta: -46.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 W Camden Wyoming Ave	0.17mi	3/1.5 (-1)	1,398 (-0%)	4mo	$297,000	$212	82
32 Meadow Ave	0.20mi	3/2.0 (-1)	1,336 (-5%)	0mo	$337,500	$253	78
31 S Caesar Rodney Ave	0.15mi	3/2.5 (-1)	1,418 (+1%)	15mo	$335,000	$236	72
20 Stevens St	0.23mi	3/2.0 (-1)	1,357 (-3%)	10mo	$319,000	$235	71
24 Stevens St	0.24mi	3/2.0 (-1)	1,358 (-3%)	12mo	$335,000	$247	69
108 Broad St	0.20mi	3/2.0 (-1)	1,477 (+6%)	10mo	$225,000	$152	68
709 Millet Ln	0.56mi	3/2.0 (-1)	1,308 (-7%)	10mo	$350,000	$268	50
313 W Third St	0.41mi	3/2.0 (-1)	1,244 (-11%)	11mo	$299,900	$241	48
12191 Willow Grove Rd	0.45mi	3/1.0 (-1)	1,219 (-13%)	4mo	$215,000	$176	45
87 Black Cherry Dr	0.74mi	3/2.0 (-1)	1,515 (+8%)	3mo	$322,000	$213	44
77 Red Chestnut Dr	0.69mi	3/2.0 (-1)	1,515 (+8%)	13mo	$330,000	$218	39
316 E Camden Wyoming Ave	0.75mi	3/2.0 (-1)	1,508 (+8%)	12mo	$217,500	$144	38

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $16,121
• Equity at exit: $24,602

10-year hold

• IRR: 18.1%
• Equity multiple: 2.50×
• Total profit: $69,109
• 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 19934

• Home prices YoY: -25.1%
• Active inventory: 93
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,143 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $674

Break-even live

Break-even rent $1,290

Max offer price $165,000

Occupancy floor 64%

Sensitivity live

Price	-10% $767	-5% $720	+0% $674	+5% $627	+10% $580
Rent	-10% $504	-5% $589	+0% $674	+5% $758	+10% $843
Rate	-1.0pp $757	-0.5pp $716	base $674	+0.5pp $631	+1.0pp $587

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Southern Blvd Wyoming, DE	3.0	1.0	1656	$2,000	$1.21	45d	1	0.19mi
300 East St Camden, DE	1.0–3.0	1.0–2.0	1272	$2,695	$2.12	45d	1	0.83mi
121 Kennison Ln Dover, DE	3.0	3.0	1530	$2,200	$1.44	45d	1	1.44mi

Listing history 13 events

1. 2026-06-10
   days on market $165,000 Active 20 DOM
2. 2026-06-09
   days on market $165,000 Active 19 DOM
3. 2026-06-08
   days on market $165,000 Active 18 DOM
4. 2026-06-07
   days on market $165,000 Active 17 DOM
5. 2026-06-02
   days on market $165,000 Active 12 DOM
6. 2026-06-01
   days on market $165,000 Active 11 DOM
7. 2026-05-31
   days on market $165,000 Active 10 DOM
8. 2026-05-30
   days on market $165,000 Active 9 DOM
9. 2026-05-04
   historical $165,000 491-char remark
10. 2012-08-25
    historical
11. 2012-04-01
    listed $119,000
12. 2012-03-31
    historical
13. 2009-09-10
    listed $119,000

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,022 · $85/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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $25,712
• − Mortgage interest: −$9,243
• − Property taxes: −$1,022
• − Insurance: −$825
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − Depreciation: −$4,800
• Taxable income: $5,709
• Est. tax owed @ 24.0%: −$1,370
• After-tax cash flow: $6,713/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: Caesar Rodney School District
• NCES district ID: 1000180
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 49% ▼ -14.00%
• Median HH income: $61,187
• Composite: 33.4/100
• National rank: #5475
• State rank: #9 of 26 in DE

Livability — Wyoming

• Score: 65/100
• State rank: #45
• US rank: #13092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyoming, DE
• Population (ZIP): 13,579

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: Majority White (63%)
• Race & ethnicity: White 63% Black 24% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 4% German/W. Germanic 4% French/Haitian/Cajun 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: ▼ -62.19%
• Current HPI: 185.0938
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+38.7% since first listed

7 events — show timeline

• 2026-06-12 Listing Removed — BRIGHT MLS
• 2026-05-22 Listed $165,000 BRIGHT MLS
• 2026-05-04 Coming Soon — BRIGHT MLS
• 2012-08-25 Listing Removed — BRIGHT MLS
• 2012-04-01 Listed $119,000 BRIGHT MLS
• 2012-03-31 Listing Removed — BRIGHT MLS
• 2009-09-10 Listed $119,000 BRIGHT MLS

Property tax history

+7.7%/yr

Latest (2025): $1,022 · +0.4% YoY. Source: county tax records.