83 Cedar St Unit 83-CED · Wilmington, DE 19808

$34,300

2 bd · 1.0 ba · 792 sqft · Manufactured · 563 Days on market

Built 2024 ↓ 1% since listing

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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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Playground amenities
• Built 2024
• Listed 562 days

Tags

• FAMILY-FRIENDLY COMMUNITY
• PLAYGROUND AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $34k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $34k).
• Recommended offer: $30k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.9% vs local median 5.7% 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.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.0%/yr); 128 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $237 of loan paydown is wiped out by about $1k 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 + 2.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 563 days — a 12% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 2y 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.

Recommended offer $30,184 (12.0% below list)

Questions for the listing agent

1. It's been on market 563 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 4.84% ✓
• Cap rate: 43.89%
• Cash-on-cash: 134.27%
• DSCR: 6.97
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.02% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.38×
• Total profit: $61,289
• Equity at exit: $5,114

10-year hold

• IRR: —
• Equity multiple: 15.06×
• Total profit: $135,079
• Equity at exit: $2,966

Cash invested: $9,604 (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 19808

• Rents YoY: 2.0%
• Active inventory: 128
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$180
• Tax est. 1.5%: −$43 /mo · $514/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $1,075

Break-even live

Break-even rent $300

Max offer price $34,300

Occupancy floor 30%

Sensitivity live

Price	-10% $1,098	-5% $1,086	+0% $1,075	+5% $1,063	+10% $1,051
Rent	-10% $943	-5% $1,009	+0% $1,075	+5% $1,140	+10% $1,206
Rate	-1.0pp $1,092	-0.5pp $1,083	base $1,075	+0.5pp $1,066	+1.0pp $1,057

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: $8,575
• Closing costs: $1,029
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	0d	1	0.15mi
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	45d	1	0.15mi
1401 Maryland Ave Wilmington, DE	1.0	1.0	612	$1,275	$2.08	45d	1	0.16mi
1507 Coleman St Wilmington, DE	2.0	1.0	650	$1,495	$2.30	25d	1	0.29mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	5d	1	0.37mi
401 Justison St Wilmington, DE	1.0	1.0	787	$1,855	$2.36	0d	13	0.44mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	0d	9	0.45mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	21d	1	0.48mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	25d	1	0.51mi
1600 Bonwood Rd Wilmington, DE	1.0	1.0	702	$1,290	$1.84	4d	1	0.54mi
1600 Bonwood Rd Wilmington, DE	2.0	1.0	970	$1,570	$1.62	0d	1	0.54mi
1600 Bonwood Rd Wilmington, DE	2.0	2.0	970	$1,614	$1.66	16d	1	0.54mi
545 Homestead Rd Wilmington, DE	2.0	1.0	800	$1,399	$1.75	45d	1	0.55mi
207 S DuPont St Wilmington, DE	1.0	1.5	1000	$1,495	$1.50	19d	1	0.59mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	0.60mi
219 S Union St Unit B Wilmington, DE	1.0	1.0	1075	$1,150	$1.07	25d	1	0.75mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	18d	1	0.78mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	11d	1	0.78mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	0d	11	0.82mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	14d	1	0.83mi
201 New Rd Wilmington, DE	2.0	1.0	800	$1,350	$1.69	4d	1	0.90mi
1215 W 7th St Apt 1 Wilmington, DE	1.0	1.0	1000	$1,275	$1.27	19d	1	0.90mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	45d	1	0.90mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	0.90mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	45d	1	0.91mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	5d	1	0.92mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	45d	1	0.93mi
225 W 4th St Unit 1 Wilmington, DE	1.0	1.0	750	$1,399	$1.87	45d	1	0.93mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	25d	1	0.94mi
210 N Market St Wilmington, DE	1.0	1.0	746	$1,705	$2.28	0d	5	0.94mi
517 N West St Wilmington, DE	1.0	1.0	646	$1,295	$2.00	25d	1	0.95mi
600 N Washington St Wilmington, DE	1.0	1.0	700	$1,275	$1.82	45d	1	0.96mi
1 Matthes Ave Wilmington, DE	1.0	1.0	600	$1,295	$2.16	0d	1	0.96mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	45d	1	0.97mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	23d	1	0.97mi
2 W 4th St Wilmington, DE	1.0	1.0	623	$1,908	$3.06	4d	5	0.97mi
800 N Adams St Wilmington, DE	1.0	1.0	650	$1,195	$1.84	45d	1	0.98mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	45d	1	0.98mi
517 N Shipley St Wilmington, DE	2.0	1.0–2.0	822	$2,670	$3.25	0d	15	1.02mi
822 N Adams St Wilmington, DE	1.0	1.0	650	$1,225	$1.88	45d	1	1.03mi

Listing history 47 events

1. 2026-06-21
   days on market $34,300 Active 563 DOM
2. 2026-06-18
   days on market $34,300 Active 560 DOM
3. 2026-06-17
   days on market $34,300 Active 559 DOM
4. 2026-06-16
   days on market $34,300 Active 558 DOM
5. 2026-06-15
   days on market $34,300 Active 557 DOM
6. 2026-06-13
   days on market $34,300 Active 555 DOM
7. 2026-06-13
   days on market $34,300 Active 554 DOM
8. 2026-06-09
   days on market $34,300 Active 551 DOM
9. 2026-06-08
   days on market $34,300 Active 550 DOM
10. 2026-06-07
    days on market $34,300 Active 549 DOM
11. 2026-06-04
    days on market $34,300 Active 546 DOM
12. 2026-06-03
    days on market $34,300 Active 545 DOM
13. 2026-06-02
    days on market $34,300 Active 544 DOM
14. 2026-06-01
    pricedays on market $34,300 Active 543 DOM
15. 2026-05-31
    days on market $33,800 Active 542 DOM
16. 2026-02-01
    price $33,800 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

17. 2025-07-02
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

18. 2025-05-14
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19. 2024-12-18
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

20. 2024-08-13
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21. 2024-08-06
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22. 2024-07-30
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23. 2024-07-27
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24. 2024-07-20
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25. 2024-07-18
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26. 2024-07-18
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

27. 2024-07-14
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

28. 2024-07-12
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29. 2024-07-10
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30. 2024-07-10
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31. 2024-06-21
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

32. 2024-06-21
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33. 2024-06-19
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34. 2024-06-19
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35. 2024-06-14
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36. 2024-06-14
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37. 2024-06-12
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

38. 2024-06-12
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39. 2024-06-05
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

40. 2024-06-05
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

41. 2024-06-04
    status Active 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

42. 2024-06-04
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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

43. 2024-05-28
    status Active 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

44. 2024-05-28
    historical 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

45. 2024-05-25
    status Active 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

46. 2024-05-25
    historical 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

47. 2024-05-24
    listed $34,300 Active 372-char remark

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    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 1 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,924
• − Mortgage interest: −$1,921
• − Property taxes: −$514
• − Insurance: −$172
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$998
• Taxable income: $13,131
• Est. tax owed @ 24.0%: −$3,151
• After-tax cash flow: $9,744/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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 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): 39,082
• Household income: $94,234
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 619.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 14% Asian 8% Black 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 7% Lithuanian 1% Slovak 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 12% Chinese 3% Other Indo-European 2%

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: ▼ -252.43%
• Current HPI: 239.0702
• Rent YoY: ▲ 2.02%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-1.5% since first listed

32 events — show timeline

• 2026-02-01 Price Changed $33,800 Zillow
• 2025-07-02 Relisted — Zillow
• 2025-05-14 Delisted — Zillow
• 2024-12-18 Relisted — Zillow
• 2024-08-13 Delisted — Zillow
• 2024-08-06 Relisted — Zillow
• 2024-07-30 Delisted — Zillow
• 2024-07-27 Relisted — Zillow
• 2024-07-20 Delisted — Zillow
• 2024-07-18 Relisted — Zillow
• 2024-07-18 Delisted — Zillow
• 2024-07-14 Relisted — Zillow
• 2024-07-12 Delisted — Zillow
• 2024-07-10 Relisted — Zillow
• 2024-07-10 Delisted — Zillow
• 2024-06-21 Relisted — Zillow
• 2024-06-21 Delisted — Zillow
• 2024-06-19 Relisted — Zillow
• 2024-06-19 Delisted — Zillow
• 2024-06-14 Relisted — Zillow
• 2024-06-14 Delisted — Zillow
• 2024-06-12 Relisted — Zillow
• 2024-06-12 Delisted — Zillow
• 2024-06-05 Relisted — Zillow
• 2024-06-05 Delisted — Zillow
• 2024-06-04 Relisted — Zillow
• 2024-06-04 Delisted — Zillow
• 2024-05-28 Relisted — Zillow
• 2024-05-28 Delisted — Zillow
• 2024-05-25 Relisted — Zillow
• 2024-05-25 Delisted — Zillow
• 2024-05-24 Listed $34,300 Zillow