131 W 29th St · Wilmington, DE 19802

$189,900

3 bd · 1.0 ba · 1,250 sqft · Townhouse public records · 28 Days on market

Built 1935 1,307 sqft lot Est $229k · 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.6/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

Key facts

• New vinyl tile
• Fresh paint
• New carpet upstairs

Tags

• END-OF-ROW TOWNHOUSE
• FULLY REFURBISHED
• NEW CARPET UPSTAIRS
• NEW LAMINATE FLOORING
• NEW VINYL TILE
• FRESH PAINT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: End-of-row townhouse; Located in city limits
• Construction: Brick construction; Stone foundation; Above- and below-grade structures; Year built: estimated
• Exterior features: Not located in a federal flood zone; Municipal trash service

Interior

• Kitchen: Built-in microwave; Gas range/oven; Refrigerator
• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Hot water heating; Natural gas heating and natural gas hot water
• Interior features: Built-in microwave; Gas range/oven; Refrigerator; Full unfinished basement with outside entrance, poured concrete foundation, and walkout stairs

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/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 $183k (3.8% below list).
• Recommended offer: $183k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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 (+5.7%/yr); 119 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($54k/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 + 5.7% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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.
• Current owner paid $40k; list at $190k implies a 375% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $182,713 (3.8% below list)

Questions for the listing agent

1. Built in 1935 — 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: 0.96% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.53%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $228,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W 29th St	0.05mi	3/1.5	1,250 (0%)	2mo	$150,000	$120	94
212 W 25th St	0.25mi	3/1.0	1,225 (-2%)	1mo	$80,000	$65	84
2708 Thompson Pl	0.16mi	3/1.0	1,175 (-6%)	1mo	$215,000	$183	82
2412 Lamotte St	0.32mi	3/1.0	1,275 (+2%)	0mo	$125,000	$98	82
2717 N West St	0.09mi	3/1.0	1,150 (-8%)	2mo	$155,000	$135	81
623 W Twenty Eighth St	0.37mi	3/1.5	1,250 (0%)	0mo	$235,000	$188	80
3208 N Madison St	0.30mi	3/1.0	1,200 (-4%)	2mo	$274,999	$229	78
222 E 30th St	0.29mi	3/2.0	1,400 (+12%)	1mo	$280,000	$200	62
417 E 35th St	0.57mi	3/1.0	1,150 (-8%)	2mo	$227,000	$197	59
709 E 26th St	0.40mi	3/2.5	1,375 (+10%)	0mo	$230,000	$167	58
2011 N West St	0.50mi	4/1.0 (+1)	1,375 (+10%)	1mo	$135,000	$98	54
11 E 42nd St	0.75mi	3/1.5	1,075 (-14%)	1mo	$252,500	$235	39

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-7,273
• Equity at exit: $28,315

10-year hold

• IRR: 8.7%
• Equity multiple: 1.74×
• Total profit: $39,404
• Equity at exit: $16,419

Cash invested: $53,172 (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 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,827 high
• Mortgage (P&I): −$996
• Tax from tax record: −$79 /mo · $949/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $289

Break-even live

Break-even rent $1,461

Max offer price $189,900

Occupancy floor 79%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	24d	1	0.12mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	1d	1	0.15mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	43d	1	0.16mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	43d	1	0.19mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	43d	1	0.20mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	12d	1	0.28mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	0.29mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	43d	1	0.30mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	43d	1	0.31mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	43d	1	0.34mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	24d	1	0.35mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	24d	1	0.39mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	43d	1	0.39mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	24d	1	0.39mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	43d	1	0.41mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	24d	1	0.41mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	43d	1	0.52mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.56mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	12d	1	0.58mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	0.58mi
547 Eastlawn Ave Wilmington, DE	3.0	1.0	1400	$1,995	$1.43	43d	1	0.61mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	0.65mi
3408 Miller Rd Wilmington, DE	1.0–2.0	1.0–2.0	889	$1,775	$2.00	5d	6	0.66mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.72mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	18d	1	0.89mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	43d	1	0.91mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	20d	1	0.91mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	43d	1	0.93mi
2 Colony Blvd Wilmington, DE	1.0–2.0	1.0–2.0	1112	$2,500	$2.25	1d	6	0.96mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	1.02mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	1.03mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	1.04mi
903 Shallcross Ave Wilmington, DE	2.0	1.5	1575	$2,195	$1.39	24d	1	1.05mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	1.07mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	1.08mi
310 Shipley Rd Wilmington, DE	2.0	2.0	1010	$1,722	$1.71	1d	2	1.09mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	1.12mi
212 W 9th St Unit 204 Wilmington, DE	2.0	2.0	1671	$1,795	$1.07	43d	1	1.18mi
212 W 9th St Unit 204 Wilmington, DE	2.0	2.0	1671	$1,745	$1.04	5d	1	1.18mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	1d	16	1.19mi

Listing history 29 events

1. 2026-06-18
   days on market $189,900 Active 28 DOM
2. 2026-06-17
   days on market $189,900 Active 27 DOM
3. 2026-06-16
   days on market $189,900 Active 26 DOM
4. 2026-06-15
   days on market $189,900 Active 25 DOM
5. 2026-06-13
   days on market $189,900 Active 23 DOM
6. 2026-06-13
   days on market $189,900 Active 22 DOM
7. 2026-06-09
   days on market $189,900 Active 19 DOM
8. 2026-06-08
   days on market $189,900 Active 18 DOM
9. 2026-06-07
   days on market $189,900 Active 17 DOM
10. 2026-06-04
    days on market $189,900 Active 14 DOM
11. 2026-06-03
    days on market $189,900 Active 13 DOM
12. 2026-06-02
    days on market $189,900 Active 12 DOM
13. 2026-06-01
    days on market $189,900 Active 11 DOM
14. 2026-05-31
    days on market $189,900 Active 10 DOM
15. 2026-05-21
    listed $189,900 Active
16. 2010-06-04
    soldstatus $40,000 490-char remark

    Show marketing remark (490 chars)

    This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

17. 2010-06-04
    soldstatus $40,000 490-char remark

    Show marketing remark (490 chars)

    This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

18. 2010-04-08
    historical 490-char remark

    Show marketing remark (490 chars)

    This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

19. 2010-01-08
    historical
20. 2010-01-05
    listed $40,000 490-char remark

    Show marketing remark (490 chars)

    This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

21. 2010-01-05
    listed $40,000 490-char remark

    Show marketing remark (490 chars)

    This 3 bed, 2 full bth townhome has a great flow and nice size rooms. All that is needed is a little paint and carpet to make it yours. All offers subject to final approval from lenders, lien holders, equitable owners, and must have final bank approval. Home is being sold as-is with no warranties expressed or implied. Home inspection is for informational purposes only. If property is vacant and no utilities are on, buyer is responsible to turn them on. Agent related to equitable owner.

22. 2009-10-07
    listed $90,000
23. 2006-10-13
    soldstatus $142,000
24. 2006-09-16
    historical
25. 2006-08-31
    listed $142,000
26. 2006-06-29
    soldstatus $94,100
27. 2006-03-29
    listed $94,100
28. 2006-03-29
    historical
29. 1988-07-01
    soldstatus $54,400

ⓘ 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: $949 · $79/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$76/yr (+$6/mo · 8.1%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,926
• − Mortgage interest: −$10,637
• − Property taxes: −$949
• − Insurance: −$950
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$5,524
• Taxable income: $358
• Est. tax owed @ 24.0%: −$86
• After-tax cash flow: $3,387/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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+249.1% since first listed

15 events — show timeline

• 2026-05-21 Listed $189,900 BRIGHT MLS
• 2010-06-04 Sold (MLS) $40,000 BRIGHT MLS
• 2010-06-04 Sold (MLS) $40,000 TREND
• 2010-04-08 Listing Removed — BRIGHT MLS
• 2010-01-08 Listing Removed — BRIGHT MLS
• 2010-01-05 Listed $40,000 BRIGHT MLS
• 2010-01-05 Listed $40,000 TREND
• 2009-10-07 Listed $90,000 BRIGHT MLS
• 2006-10-13 Sold (MLS) $142,000 BRIGHT MLS
• 2006-09-16 Listing Removed — BRIGHT MLS
• 2006-08-31 Listed $142,000 BRIGHT MLS
• 2006-06-29 Sold (MLS) $94,100 BRIGHT MLS
• 2006-03-29 Listing Removed — BRIGHT MLS
• 2006-03-29 Listed $94,100 BRIGHT MLS
• 1988-07-01 Sold (Public Records) $54,400 Public Records

Property tax history

+3.7%/yr

Latest (2024): $949 · +15.1% YoY. Source: county tax records.