35 Willow Ct · Newark, DE 21921

$159,900

3 bd · 1.5 ba · 1,224 sqft · Townhouse public records · 59 Days on market

Built 1972 2,178 sqft lot $131/sqft · 14% above area Est $140k · 14% over

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Superb three bedroom townhome with everything nearly new! Fresh paint, newer carpet, updated kitchen with 12x12 ceramic tile flooring, bonus room, fenced yard and more!! Don't miss this gem!!

Key facts

• Fenced yard
• Bonus room
• Updated kitchen

Tags

• UPDATED KITCHEN
• FENCED YARD
• BONUS ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 4.4% in Newark — 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 85/100 on livability (#1 in DE, #569 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.3%/yr); 6 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 563 units permitted in Cecil County in 2024 (330 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.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 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 $80k; list at $160k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.34% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.70%
• DSCR: 1.83
• GRM: 6.2

CMA / ARV

• ARV (median comp): $140,197
• List price: $159,900
• Delta: 14.05%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
446 Willow Dr	0.20mi	4/— (+1)	1,260 (+3%)	1mo	$169,900	$135	80
15 Willow Ct	0.06mi	3/1.5	1,125 (-8%)	11mo	$180,000	$160	75
70 Willow Ct	0.09mi	3/1.5	1,368 (+12%)	2mo	$180,000	$132	74
112 Azalea Cir	0.41mi	3/2.5	1,220 (-0%)	6mo	$290,000	$238	71
4 Marsh Ln	0.41mi	3/2.5	1,220 (-0%)	8mo	$275,000	$225	69
23 Karina Ct	0.41mi	3/2.5	1,220 (-0%)	9mo	$300,000	$246	69
9 Azalea Cir	0.43mi	3/2.0	1,200 (-2%)	12mo	$295,000	$246	65
58 Azalea Cir	0.48mi	3/2.5	1,200 (-2%)	11mo	$275,000	$229	61
64 Azalea Cir	0.47mi	3/2.0	1,200 (-2%)	14mo	$270,000	$225	61
46 Azalea Cir	0.50mi	3/2.5	1,200 (-2%)	11mo	$279,900	$233	60
79 Mule Deer Ct	0.53mi	3/2.5	1,308 (+7%)	7mo	$283,750	$217	54
72 Mule Deer Ct	0.52mi	3/2.5	1,392 (+14%)	3mo	$300,000	$216	46

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.38×
• Total profit: $17,046
• Equity at exit: $23,842

10-year hold

• IRR: 18.3%
• Equity multiple: 2.48×
• Total profit: $66,044
• Equity at exit: $13,825

Cash invested: $44,772 (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 21921

• Rents YoY: 2.3%
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,135 high
• Mortgage (P&I): −$839
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $698

Break-even live

Break-even rent $1,252

Max offer price $159,900

Occupancy floor 62%

Sensitivity live

Price	-10% $788	-5% $743	+0% $698	+5% $653	+10% $607
Rent	-10% $529	-5% $614	+0% $698	+5% $782	+10% $867
Rate	-1.0pp $778	-0.5pp $739	base $698	+0.5pp $656	+1.0pp $614

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
317 Willow Dr Elkton, MD	3.0	1.5	1125	$1,900	$1.69	6d	1	0.04mi
20 Marsh Ln Elkton, MD	3.0	2.0	1200	$1,990	$1.66	6d	1	0.44mi
4301 Stone Gate Blvd Elkton, MD	1.0–3.0	1.0–3.0	1056	$2,414	$2.29	2d	32	0.74mi
2950 Stone Gate Blvd Elkton, MD	3.0	2.0	1362	$2,359	$1.73	3d	1	0.91mi
2950 Stone Gate Blvd Elkton, MD	3.0	2.0	1344	$2,249	$1.67	23d	1	0.91mi
39 Wenark Dr Newark, DE	1.0–2.0	1.0–2.0	889	$1,947	$2.19	2d	8	1.26mi

Listing history 26 events

1. 2026-06-21
   days on market $159,900 Active 59 DOM
2. 2026-06-18
   days on market $159,900 Active 56 DOM
3. 2026-06-17
   days on market $159,900 Active 55 DOM
4. 2026-06-16
   days on market $159,900 Active 54 DOM
5. 2026-06-15
   days on market $159,900 Active 53 DOM
6. 2026-06-13
   days on market $159,900 Active 51 DOM
7. 2026-06-09
   days on market $159,900 Active 47 DOM
8. 2026-06-08
   days on market $159,900 Active 46 DOM
9. 2026-06-07
   days on market $159,900 Active 45 DOM
10. 2026-06-04
    days on market $159,900 Active 42 DOM
11. 2026-06-03
    days on market $159,900 Active 41 DOM
12. 2026-06-02
    days on market $159,900 Active 40 DOM
13. 2026-06-01
    days on market $159,900 Active 39 DOM
14. 2026-05-31
    days on market $159,900 Active 38 DOM
15. 2026-04-23
    listed $159,900 Active 194-char remark

    Show marketing remark (194 chars)

    Superb three bedroom townhome with everything nearly new! Fresh paint, newer carpet, updated kitchen with 12x12 ceramic tile flooring, bonus room, fenced yard and more!! Don't miss this gem!!

16. 2014-02-17
    historical Withdrawn
17. 2013-10-15
    price
18. 2013-10-04
    listed Active
19. 2007-05-17
    soldstatus $80,000
20. 2007-05-15
    soldstatus $80,000
21. 2007-03-30
    historical
22. 2007-02-19
    listed $87,500
23. 2007-01-02
    historical
24. 2006-03-14
    listed
25. 1999-02-01
    soldstatus $32,500
26. 1988-09-15
    soldstatus $42,500

ⓘ 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: $1,003 · $84/mo
• Projected year-2 tax: $1,003 · $84/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 7/10 Severe 7 d/yr ≥104°F today · 15 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: $25,620
• − Mortgage interest: −$8,957
• − Property taxes: −$1,003
• − Insurance: −$800
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$4,652
• Taxable income: $6,109
• Est. tax owed @ 24.0%: −$1,466
• After-tax cash flow: $6,908/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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — Newark

• Score: 85/100
• State rank: #1
• US rank: #569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cecil County
• City population: 135,862
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 45,527
• Household income: $85,775
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1438.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.67%
• Current HPI: 253.7641
• Rent YoY: ▲ 2.32%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+276.2% since first listed

12 events — show timeline

• 2026-04-23 Listed $159,900 BRIGHT MLS
• 2014-02-17 Delisted — MRIS
• 2013-10-15 Price Changed — MRIS
• 2013-10-04 Listed — MRIS
• 2007-05-17 Sold (Public Records) $80,000 Public Records
• 2007-05-15 Sold (MLS) $80,000 MRIS
• 2007-03-30 Delisted — MRIS
• 2007-02-19 Listed $87,500 MRIS
• 2007-01-02 Delisted — MRIS
• 2006-03-14 Listed — MRIS
• 1999-02-01 Sold (Public Records) $32,500 Public Records
• 1988-09-15 Sold (Public Records) $42,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,003 · +2.3% YoY. Source: county tax records.