334 Hostetter Blvd · Middletown, DE 19709

$92,900

3 bd · 2.0 ba · 980 sqft · Other · 38 Days on market

Built 1986 $95/sqft · 17% above area Est $79k · 17% over ↓ 2% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 334 Hostetter Blvd, your dream residence situated in the heart of Middletown, Delaware. Enhanced by its sought-after location within the prestigious Appoquinimink School District. Pride of ownership shows. The property offers vinyl plank flooring throughout the home. Efficient and comfortable lifestyle with its 3 well-proportioned bedrooms and 2 full bathrooms spread across a single level living space. The allure and functionality of the home are immediately apparent as you step onto the trek deck and enter into a generously scaled living room. Transition into the well-equipped kitchen where you’re greeted by glamorous granite countertops and stainless-steel amenities, comp

Key facts

• 2 parking spots
• Built 1986
• Listed 38 days

Property features AI

Finance

• HOA & community: Land lease community; Annual land lease fee of $908; Approximately 3 years remaining on land lease

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric hot water; Electric cooling
• Home design: Manufactured single-wide home; Estimated year/model: 1986; Above-grade living only (no basement)
• Construction: Aluminum siding; Structure type: Manufactured; Other structures noted above and below grade
• Exterior features: Not in a federal flood zone; Located in Village Brook park

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate plank flooring
• Bathrooms: 2 full bathrooms (including 2 full on main level)
• Heating & cooling: 90% forced air heating; Propane heating (leased); Window air conditioning units (electric)
• Interior features: Drywall walls and ceilings; Estimated living area; 5 total rooms
• Laundry & utility: Laundry area (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $93k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $93k).
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.8% vs local median 3.0% in Middletown — 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 71/100 on livability (#17 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, commute F.
• Appoquinimink School District (rural): math 37% / reading 52% proficiency, ranked #6 of 26 in DE (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Brick Mill Elementary School (math 32% / reading 42%, grade F, #31 of 105 statewide, top 31%, 451 students, 0% FRL); Redding (Louis L.) Middle School (math 23% / reading 50%, grade F, #9 of 36 statewide, top 23%, 618 students, 0% FRL); Middletown High School (math 41% / reading 61%, grade D+, #5 of 40 statewide, top 10%, 1,355 students, 0% FRL) — zoned schools average 0% FRL vs 18% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.1%/yr); 454 active listings in the ZIP; high-income renter base; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $642 of loan paydown is wiped out by about $3k 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 + 1.1% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Recommended offer $90,113 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 2.80% ✓
• Cap rate: 25.80%
• Cash-on-cash: 69.65%
• DSCR: 4.10
• GRM: 3.0

CMA / ARV

• ARV (median comp): $79,405
• List price: $92,900
• Delta: 16.99%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.07% rent growth · sell at horizon

5-year hold

• IRR: 67.0%
• Equity multiple: 3.93×
• Total profit: $76,127
• Equity at exit: $13,852

10-year hold

• IRR: 70.7%
• Equity multiple: 7.55×
• Total profit: $170,455
• Equity at exit: $8,032

Cash invested: $26,012 (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 19709

• Home prices YoY: -21.4%
• Rents YoY: 1.1%
• Active inventory: 454
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,603 medium
• Mortgage (P&I): −$487
• Tax from tax record: −$21 /mo · $250/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $1,510

Break-even live

Break-even rent $692

Max offer price $92,900

Occupancy floor 37%

Sensitivity live

Price	-10% $1,562	-5% $1,536	+0% $1,510	+5% $1,484	+10% $1,457
Rent	-10% $1,304	-5% $1,407	+0% $1,510	+5% $1,613	+10% $1,715
Rate	-1.0pp $1,557	-0.5pp $1,533	base $1,510	+0.5pp $1,486	+1.0pp $1,461

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: $23,225
• Closing costs: $2,787
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $92,900 Active 38 DOM
2. 2026-06-18
   days on market $92,900 Active 35 DOM
3. 2026-06-17
   days on market $92,900 Active 34 DOM
4. 2026-06-16
   days on market $92,900 Active 33 DOM
5. 2026-06-15
   price $92,900 Active 32 DOM
6. 2026-06-15
   days on market $94,900 Active 32 DOM
7. 2026-06-13
   days on market $94,900 Active 30 DOM
8. 2026-06-09
   days on market $94,900 Active 26 DOM
9. 2026-06-08
   days on market $94,900 Active 25 DOM
10. 2026-06-07
    days on market $94,900 Active 24 DOM
11. 2026-06-04
    days on market $94,900 Active 21 DOM
12. 2026-06-03
    days on market $94,900 Active 20 DOM
13. 2026-06-02
    days on market $94,900 Active 19 DOM
14. 2026-06-01
    days on market $94,900 Active 18 DOM
15. 2026-05-31
    days on market $94,900 Active 17 DOM
16. 2026-05-14
    listed $94,900 Active 2491-char remark
17. 2026-05-11
    historical $94,900 2491-char remark

ⓘ 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: $250 · $21/mo
• Projected year-2 tax: $395 · $33/mo
• Expected delta: +$144/yr (+$12/mo · 57.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $31,239
• − Mortgage interest: −$5,204
• − Property taxes: −$250
• − Insurance: −$464
• − Repairs & maintenance: −$2,499
• − Management: −$2,499
• − Depreciation: −$2,703
• Taxable income: $17,619
• Est. tax owed @ 24.0%: −$4,229
• After-tax cash flow: $13,889/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: Appoquinimink School District
• NCES district ID: 1000080
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 52% ▼ -13.00%
• Median HH income: $93,397
• Composite: 42.32/100
• National rank: #3256
• State rank: #6 of 26 in DE

Livability — Middletown

• Score: 71/100
• State rank: #17
• US rank: #6446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, DE
• County: New Castle County · 483,412 people
• City population: 53,234
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 53,234
• Household income: $132,956
• Rent vs Own: 13.8% rent · 86.2% own
• Severe rent burden: 268.0

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 0.59)
• Race & ethnicity: White 59% Black 23% Asian 7% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 5% Slovak 1% Iranian 1%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 3% French/Haitian/Cajun 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: ▼ -86.40%
• Current HPI: 317.1386
• Rent YoY: ▲ 1.07%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-2.1% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $92,900 BRIGHT MLS
• 2026-05-14 Listed $94,900 BRIGHT MLS
• 2026-05-11 Coming Soon $94,900 BRIGHT MLS

Property tax history

+5.1%/yr

Latest (2024): $250 · +19.6% YoY. Source: county tax records.