29 Pierson Dr · Hockessin, DE 19707

$524,900

4 bd · 2.5 ba · 2,525 sqft · SingleFamily public records · 36 Days on market

Built 1984 0.72 ac lot $208/sqft · 17% below area Est $631k · 17% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 29 Pierson Drive in the highly sought-after community of Wellington Hills in Hockessin. ! Situated on one of the largest lots in the neighborhood—approximately ¾ of an acre—this original-owner, two-story home offers a rare opportunity to own a spacious property with solid bones and some recent updates. Boasting over 2,500 square feet of living space, the home features a classic brick front, a distinctive hip roof, and a turned garage that enhances both curb appeal and functionality. Inside, you’ll find four generously sized bedrooms and 2.5 baths, offering plenty of space for comfortable living. Some major improvements that have already been completed, in

Key facts

• Recent updates
• Classic brick front
• Newer roof

Tags

• LARGEST LOTS
• RECENT UPDATES
• CLASSIC BRICK FRONT
• DISTINCTIVE HIP ROOF
• TURNED GARAGE
• NEWER ROOF

Property features AI

Exterior

• Parking: Attached 2-car garage with inside access; Driveway parking
• Utilities: Public sewer; Well water; Electric hot water
• Home design: Detached single-family property
• Construction: Brick and vinyl siding exterior; Block foundation; Above-grade and below-grade structures
• Exterior features: Detached home; Lot approximately 160.60 x 205.10; Basement (full) with interior access

Interior

• Kitchen: Gourmet kitchen; Kitchen island; Eat-in kitchen
• Bedrooms: Four bedrooms on the upper level
• Bathrooms: Two full bathrooms (upper levels); One half bathroom on the main level
• Heating & cooling: Heat pump with electric backup; Electric heating fuel; Central air conditioning (electric)
• Interior features: Gourmet kitchen with island and eat-in area; Formal separate dining room; Traditional floor plan; Family room open to the kitchen; Combination kitchen/dining
• Laundry & utility: Laundry located on the main floor

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $525k.

Deal economics

• At list price, monthly cash flow is $-298 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $472k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $390k (25.7% below list).
• Recommended offer: $390k (25.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.0% in Hockessin — 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 (#21 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• 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.
• Zoned schools: North Star Elementary School (math 74% / reading 84%, grade A, #1 of 105 statewide, top 0%, 610 students, 0% FRL); Dupont (H.B.) Middle School (math 35% / reading 55%, grade D, #4 of 36 statewide, top 11%, 754 students, 0% FRL); Dupont (Alexis I.) High School (math 22% / reading 47%, grade F, #18 of 40 statewide, top 49%, 680 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 53% at this address vs 34% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Red Clay Consolidated School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($509k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $139k; list at $525k implies a 277% 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 $390,000 (25.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• GRM: 11.2

CMA / ARV

• ARV (median comp): $630,887
• List price: $524,900
• Delta: -16.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Pierson Dr	0.14mi	4/2.5	2,450 (-3%)	11mo	$592,000	$242	79
15 Homestead Ln	0.17mi	4/2.5	2,450 (-3%)	11mo	$640,000	$261	78
107 Skyview Ln	0.16mi	4/2.5	2,697 (+7%)	5mo	$650,000	$241	77
809 Christopher Ct	0.31mi	4/2.5	2,200 (-13%)	2mo	$649,900	$295	62
6 Jacqueline Dr	0.41mi	4/2.5	2,400 (-5%)	19mo	$586,000	$244	57
8 Arthur Dr	0.51mi	4/2.5	2,600 (+3%)	19mo	$615,000	$237	55
211 Eileens Way	0.68mi	4/2.5	2,600 (+3%)	12mo	$750,000	$288	54
105 Hart Dr	0.73mi	4/2.5	2,542 (+1%)	15mo	$565,000	$222	52
19 Jacqueline Dr	0.49mi	4/2.5	2,675 (+6%)	18mo	$640,000	$239	52
43 Slashpine Cir	0.63mi	4/2.5	2,898 (+15%)	1mo	$715,000	$247	45
237 Crescent Rd	0.74mi	3/3.0 (-1)	2,607 (+3%)	13mo	$540,000	$207	42
5 Ashleaf Ct	0.61mi	4/2.5	2,900 (+15%)	12mo	$703,000	$242	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.29×
• Total profit: $-104,124
• Equity at exit: $78,264

10-year hold

• IRR: -13.5%
• Equity multiple: 0.21×
• Total profit: $-115,483
• Equity at exit: $45,384

Cash invested: $146,972 (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 19707

• Home prices YoY: -29.7%
• Active inventory: 52
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,900 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$408 /mo · $4,891/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $-298

Break-even live

Break-even rent $4,277

Max offer price $472,273

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-149	+0% $-298	+5% $-446	+10% $-595
Rent	-10% $-606	-5% $-452	+0% $-298	+5% $-144	+10% $10
Rate	-1.0pp $-34	-0.5pp $-164	base $-298	+0.5pp $-434	+1.0pp $-572

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: $131,225
• Closing costs: $15,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Nathalie Ct Hockessin, DE	4.0	2.5	3600	$3,900	$1.08	0d	1	1.16mi

Listing history 3 events

1. 2026-04-23
   listed $569,900 Active 1052-char remark
2. 1984-12-01
   soldstatus $139,400
3. 1984-06-01
   soldstatus $417,000

ⓘ 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: $4,891 · $408/mo
• Projected year-2 tax: $4,891 · $408/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥102°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: $46,800
• − Mortgage interest: −$29,403
• − Property taxes: −$4,891
• − Insurance: −$2,624
• − Repairs & maintenance: −$3,744
• − Management: −$3,744
• − Depreciation: −$15,270
• Taxable loss: −$12,876
• Est. tax savings @ 24.0%: +$3,090
• After-tax cash flow: $-485/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 — Hockessin

• Score: 71/100
• State rank: #21
• US rank: #6903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hockessin, DE
• City population: 17,379
• Population (ZIP): 17,366

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 (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 7% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · China, Canada, Jamaica
• Languages at home: 89% English-only · Other Indo-European 4% Chinese 3% Other Asian/Pacific 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: ▼ -104.25%
• Current HPI: 246.7483
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+25.9% since first listed

5 events — show timeline

• 2026-05-29 Pending — BRIGHT MLS
• 2026-05-20 Price Changed $524,900 BRIGHT MLS
• 2026-04-23 Listed $569,900 BRIGHT MLS
• 1984-12-01 Sold (Public Records) $139,400 Public Records
• 1984-06-01 Sold (Public Records) $417,000 Public Records

Property tax history

+3.8%/yr

Latest (2024): $4,891 · +14.9% YoY. Source: county tax records.