409 5th Ave Unit A245 · Pike Creek Valley, DE 19808

$42,000

2 bd · 1.0 ba · 856 sqft · SingleFamily · 7 Days on market

Built 1981 Good condition Est $68k · 38% under

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom, 1 bathroom with updated bathroom and open floor plan available immediately in Murray Manor. Monthly lot rent of $1,011 currently covers: water, sewer, weekly trash/recycle pick up, internet and basic cable tv. Washer, Dryer, refrigerator and outdoor shed included in sale. Beautifully landscaped exterior, central air conditioning, updated bathroom, a roof replacement in 2022 and a 3 seasons room round out a true value in the marketplace. Schedule your tour today! Perspective buyers must apply with Murray Manor and receive approval prior to purchase.

Key facts

• Open floor plan
• Outdoor shed
• Roof replacement

Tags

• UPDATED BATHROOM
• OPEN FLOOR PLAN
• OUTDOOR SHED
• LANDSCAPED EXTERIOR
• CENTRAL AIR CONDITIONING
• ROOF REPLACEMENT

Property features AI

Finance

• Other: Property manager present; Ownership interest: Other
• Financial info: Annual ground rent noted in income/expense list

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Municipal trash not provided
• Home design: Manufactured property; Above-grade living space only; Estimated year built
• Construction: Aluminum siding; Other structures above and below grade
• Exterior features: Ground rent exists, paid annually; Not in a federal flood zone; Located outside city limits; Directions: kirkwood highway to del park drive to old capitol hill road

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating (oil); Central air conditioning (electric); Electric hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k. Condition is rated good.

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 $42k).
• Cap rate 37.2% vs local median 4.7% in Pike Creek Valley — 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 69/100 on livability (#26 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living B+; Watch: amenities F, commute F, health & safety D-.
• 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.
• Market conditions: Rents rising (+2.0%/yr); 128 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $290 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 $12k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $42,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 4.13% ✓
• Cap rate: 37.19%
• Cash-on-cash: 110.33%
• DSCR: 5.91
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $67,624
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Holly St	0.11mi	3/2.0 (+1)	900 (+5%)	8mo	$45,000	$50	71
518 6th Ave	0.07mi	3/1.0 (+1)	960 (+12%)	6mo	$40,000	$42	66
813 9th Ave #483	0.15mi	2/1.0	752 (-12%)	8mo	$45,000	$60	66
1006 11th Ave #768	0.23mi	2/2.0	952 (+11%)	11mo	$74,900	$79	57
1008 11th Ave #769	0.23mi	2/2.0	924 (+8%)	18mo	$87,500	$95	57
53 Kathy Dr #645	0.28mi	2/2.0	910 (+6%)	23mo	$95,000	$104	53
1003 11th Ave	0.23mi	2/2.0	952 (+11%)	19mo	$47,050	$49	50
2301 Wollaston Rd	0.59mi	1/1.0 (-1)	900 (+5%)	18mo	$250,000	$278	43

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 · 2.02% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.14×
• Total profit: $60,391
• Equity at exit: $6,262

10-year hold

• IRR: —
• Equity multiple: 12.44×
• Total profit: $134,550
• Equity at exit: $3,631

Cash invested: $11,760 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$220
• Tax est. 1.5%: −$52 /mo · $630/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,081

Break-even live

Break-even rent $367

Max offer price $42,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,110	-5% $1,096	+0% $1,081	+5% $1,067	+10% $1,052
Rent	-10% $944	-5% $1,013	+0% $1,081	+5% $1,150	+10% $1,218
Rate	-1.0pp $1,102	-0.5pp $1,092	base $1,081	+0.5pp $1,070	+1.0pp $1,059

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5121 W Woodmill Dr Wilmington, DE	2.0	1.5	1120	$1,950	$1.74	45d	1	0.48mi
5597 Heritage Court Dr Apt 2B Wilmington, DE	1.0–2.0	1.0	707	$1,535	$2.17	0d	5	0.49mi
39 Abbey Ln Newark, DE	1.0–2.0	1.0	707	$1,580	$2.23	0d	9	0.83mi
4608 Haverford Pl Wilmington, DE	1.0–2.0	1.0	750	$1,465	$1.95	14d	1	0.84mi

Listing history 7 events

1. 2026-06-21
   days on market $42,000 Active 7 DOM
2. 2026-06-18
   remarks 565-char remark
3. 2026-06-18
   days on market $42,000 Active 4 DOM
4. 2026-06-17
   days on market $42,000 Active 3 DOM
5. 2026-06-16
   days on market $42,000 Active 2 DOM
6. 2026-06-15
   remarks 555-char remark
7. 2026-06-15
   listed $42,000 Active 1 DOM

ⓘ 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: $20,833
• − Mortgage interest: −$2,353
• − Property taxes: −$630
• − Insurance: −$210
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$1,222
• Taxable income: $13,085
• Est. tax owed @ 24.0%: −$3,141
• After-tax cash flow: $9,835/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This single-family home in Murray Manor is in good condition with recent updates and a roof replacement. It offers a good investment opportunity with potential for value enhancement through minor cosmetic updates.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace carpet with hardwood or tile — hardwood or tile flooring is more durable and adds value
• Both install new lighting fixtures — new lighting fixtures can improve ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace carpet with hardwood or tile — hardwood or tile flooring is more durable and adds value ↑
• Both install new lighting fixtures — new lighting fixtures can improve ambiance and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Pike Creek Valley

• Score: 69/100
• State rank: #26
• US rank: #8511

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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 event — show timeline

• 2026-06-14 Listed $42,000 BRIGHT MLS