624 W 8th St · Wilmington, DE 19801

$130,000

3 bd · 1.0 ba · 1,175 sqft · Townhouse public records · 17 Days on market

Built 1900 1,307 sqft lot Est $182k · 29% under ↓ 18% since listing

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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 +9.5/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 3-bedroom, 1-bath brick row home in the City of Wilmington. Featuring replacement windows, updated electric service, and solid brick construction, this property is ready for its next chapter. The interior has been partially renovated and offers a blank canvas for investors, flippers, or buyers looking to customize a home to their own taste. Conveniently located near downtown Wilmington, major roadways, shopping, dining, and public transportation. Whether you're looking to add to your rental portfolio or complete a value-add renovation project, this property offers strong potential at an affordable price point. Buyer to perform their own due diligence regarding s

Key facts

• Major roadways
• Shopping
• Replacement windows

Tags

• REPLACEMENT WINDOWS
• UPDATED ELECTRIC SERVICE
• SOLID BRICK CONSTRUCTION
• PARTIALLY RENOVATED
• MAJOR ROADWAYS
• SHOPPING

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: End of row townhouse; Flat roof; Fee simple ownership; Property in average condition; Above-grade finished area (per assessor) 1,175
• Construction: Brick construction; Stone foundation
• Exterior features: Lot dimensions approximately 17 x 81; Blacktop road access; City/county road responsibility; Located in city limits

Interior

• Basement: Full basement
• Bedrooms: Three bedrooms on the first upper level
• Flooring: Luxury vinyl plank flooring; Rough-in (utility/finished area)
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units (electric); Natural gas hot water
• Interior features: Plaster walls; 2+ access exits

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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+, commute D, crime F.
• 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.
• Zoned schools: Stubbs Early Education Center (190 students, 0% FRL); The Bayard School (math 3% / reading 10%, grade F, #102 of 105 statewide, top 97%, 508 students, 0% FRL); Christiana High School (math 49% / reading 66%, grade C, #3 of 40 statewide, top 5%, 1,256 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 43% of the median local income ($53k/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 $899 of loan paydown is wiped out by about $4k 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 + 1.6% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1900 — 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 $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.45% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.97%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $182,125
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 Lafayette Blvd	0.32mi	2/1.5 (-1)	1,250 (+6%)	1mo	$235,000	$188	67
1212 N Tatnall St	0.41mi	3/1.0	1,275 (+8%)	0mo	$165,000	$129	66
1213 W 3rd St	0.46mi	3/1.5	1,250 (+6%)	1mo	$215,000	$172	65
302 S Franklin St	0.68mi	3/1.0	1,150 (-2%)	1mo	$117,000	$102	64
519 S Jackson St	0.71mi	3/1.0	1,200 (+2%)	1mo	$186,000	$155	62
1301 Lancaster Ave	0.58mi	4/2.0 (+1)	1,200 (+2%)	1mo	$250,000	$208	60
834 N Pine St	0.74mi	3/1.5	1,150 (-2%)	1mo	$150,000	$130	59
524 Taylor St	0.72mi	2/1.0 (-1)	1,125 (-4%)	1mo	$110,000	$98	54
105-UNIT Christina Landing Dr #406	0.73mi	2/2.0 (-1)	1,125 (-4%)	1mo	$325,000	$289	49
1210 Elm St	0.65mi	3/2.0	1,300 (+11%)	1mo	$200,000	$154	47
1313 N Walnut St	0.65mi	2/1.0 (-1)	1,350 (+15%)	1mo	$155,000	$115	39
501 E 5th St	0.71mi	4/2.5 (+1)	1,325 (+13%)	0mo	$236,000	$178	34

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.57×
• Total profit: $20,623
• Equity at exit: $19,383

10-year hold

• IRR: 22.1%
• Equity multiple: 2.77×
• Total profit: $64,398
• Equity at exit: $11,240

Cash invested: $36,400 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$682
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $697

Break-even live

Break-even rent $1,010

Max offer price $130,000

Occupancy floor 58%

Sensitivity live

Price	-10% $770	-5% $733	+0% $697	+5% $660	+10% $623
Rent	-10% $547	-5% $622	+0% $697	+5% $771	+10% $846
Rate	-1.0pp $762	-0.5pp $730	base $697	+0.5pp $663	+1.0pp $629

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	45d	1	0.04mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	45d	1	0.05mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	7d	1	0.12mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	45d	1	0.15mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	45d	1	0.16mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	18d	1	0.21mi
839 N Tatnall St Unit 101 Wilmington, DE	2.0	2.0	1211	$1,750	$1.45	7d	1	0.21mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	26d	1	0.23mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	7d	1	0.23mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	46d	1	0.24mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	14d	1	0.24mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	0d	115	0.26mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	45d	1	0.28mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,270	$2.79	0d	17	0.30mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	45d	1	0.32mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	0d	61	0.33mi
801 N Market St Unit 207 Wilmington, DE	2.0	2.0	1239	$1,895	$1.53	7d	1	0.34mi
517 N Shipley St Wilmington, DE	2.0	1.0–2.0	822	$2,670	$3.25	0d	15	0.34mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	45d	5	0.36mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	45d	1	0.45mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,795	$1.20	0d	1	0.46mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	26d	1	0.50mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	23d	1	0.51mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	20d	1	0.51mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	45d	1	0.52mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	26d	1	0.54mi
1210 Delaware Ave Unit 3 Wilmington, DE	2.0	1.0	1200	$2,395	$2.00	45d	1	0.55mi
1207 Delaware Ave Wilmington, DE	2.0	1.0	1200	$1,700	$1.42	13d	1	0.56mi
1301 N Harrison St Wilmington, DE	1.0–2.0	1.0	1050	$1,850	$1.76	7d	1	0.56mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	45d	4	0.56mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	14d	4	0.56mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	22d	1	0.57mi
205 Porter St Wilmington, DE	2.0	1.5	1200	$1,700	$1.42	17d	1	0.59mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	13d	1	0.60mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	6d	1	0.64mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	45d	1	0.65mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	45d	1	0.66mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	5d	1	0.70mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	5d	1	0.71mi
1501 N Broom St Unit 2/3 Wilmington, DE	2.0	2.5	1250	$2,500	$2.00	7d	1	0.72mi

Listing history 16 events

1. 2026-06-21
   days on market $130,000 Active 17 DOM
2. 2026-06-18
   days on market $130,000 Active 14 DOM
3. 2026-06-17
   days on market $130,000 Active 13 DOM
4. 2026-06-16
   days on market $130,000 Active 12 DOM
5. 2026-06-15
   days on market $130,000 Active 11 DOM
6. 2026-06-13
   days on market $130,000 Active 9 DOM
7. 2026-06-13
   days on market $130,000 Active 8 DOM
8. 2026-06-09
   days on market $130,000 Active 5 DOM
9. 2026-06-08
   days on market $130,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    statusdays on marketlisting id $130,000 Active 3 DOM
12. 2026-06-04
    days on market $130,000 Coming Soon 17 DOM
13. 2026-06-03
    days on market $130,000 Coming Soon 16 DOM
14. 2026-06-02
    days on market $130,000 Coming Soon 15 DOM
15. 2026-06-01
    days on market $130,000 Coming Soon 14 DOM
16. 2026-05-31
    days on market $130,000 Coming Soon 13 DOM

ⓘ 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: $741 · $62/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$7/yr (+$1/mo · 0.9%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,698
• − Mortgage interest: −$7,282
• − Property taxes: −$741
• − Insurance: −$650
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$3,782
• Taxable income: $6,611
• Est. tax owed @ 24.0%: −$1,587
• After-tax cash flow: $6,773/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): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-17.7% since first listed

8 events — show timeline

• 2026-06-04 Listed $130,000 BRIGHT MLS
• 2026-03-26 Listing Removed — BRIGHT MLS
• 2026-02-24 Price Changed $129,900 BRIGHT MLS
• 2026-01-23 Listed $139,900 BRIGHT MLS
• 2026-01-16 Coming Soon — BRIGHT MLS
• 2010-11-24 Sold (Public Records) $158,000 Public Records
• 2010-11-23 Sold (Public Records) $158,000 Public Records
• 2010-11-23 Sold (Public Records) $158,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $741 · +2.6% YoY. Source: county tax records.