1010 N Lombard St · Wilmington, DE 19801

$179,900

5 bd · 1.5 ba · 1,650 sqft · Townhouse public records · 63 Days on market

Built 1900 2,178 sqft lot $109/sqft · 13% below area Est $208k · 13% 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 +13.6/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• 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 MLS

This property has tons of potentional. This is a 5 bedroom, 1.5 bath in Wilmington. There is some TLC needed, but overall the house is in great shape. It is a corner property, with deck that wraps around the side to the front door. Schedule your appointments today!

Key facts

• Deck wraps around
• Corner property
• Built 1900

Tags

• CORNER PROPERTY
• DECK WRAPS AROUND

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.6% 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 (+1.6%/yr); 75 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $2,280/mo this rent would consume 52% of the median local household income ($53k/yr) (locally 919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $180k implies a 620% gain — meaningful room to come down on a strong offer.

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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.27% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• GRM: 6.6

CMA / ARV

• ARV (median comp): $207,924
• List price: $179,900
• Delta: -13.48%
• 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
516 E 9th St	0.11mi	4/2.0 (-1)	1,625 (-2%)	2mo	$184,000	$113	84
901 N Church St	0.21mi	4/1.0 (-1)	1,575 (-4%)	2mo	$184,000	$117	74
1005 N Lombard St	0.03mi	4/2.5 (-1)	1,725 (+4%)	10mo	$245,000	$142	74
834 N Lombard St	0.13mi	4/1.5 (-1)	1,500 (-9%)	11mo	$199,900	$133	65
202 W 22nd St	0.74mi	4/1.5 (-1)	1,650 (0%)	13mo	$240,000	$145	49
837 N Madison St	0.71mi	4/1.5 (-1)	1,775 (+8%)	0mo	$315,000	$177	49
2 E 24th St	0.71mi	4/2.0 (-1)	1,550 (-6%)	3mo	$158,163	$102	47
504 N Church St	0.40mi	4/1.5 (-1)	1,450 (-12%)	11mo	$249,000	$172	47
36 E 23rd St	0.64mi	4/1.5 (-1)	1,475 (-11%)	4mo	$155,000	$105	44
2112 N Pine St	0.54mi	5/2.5	1,875 (+14%)	10mo	$140,000	$75	40
2222 N Market St	0.66mi	4/1.0 (-1)	1,775 (+8%)	13mo	$107,000	$60	39
501 W 3rd St	0.73mi	4/1.5 (-1)	1,825 (+11%)	12mo	$265,000	$145	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: 6.0%
• Equity multiple: 1.23×
• Total profit: $11,611
• Equity at exit: $26,824

10-year hold

• IRR: 14.2%
• Equity multiple: 2.07×
• Total profit: $53,853
• Equity at exit: $15,554

Cash invested: $50,372 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,280 high
• Mortgage (P&I): −$943
• Tax from tax record: −$92 /mo · $1,102/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $691

Break-even live

Break-even rent $1,405

Max offer price $179,900

Occupancy floor 65%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	43d	1	0.77mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	43d	1	0.82mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	0.82mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	1.13mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	11d	1	1.27mi

Listing history 27 events

1. 2026-06-08
   statusdays on market $179,900 Pending 63 DOM
2. 2026-06-07
   days on market $179,900 Active 62 DOM
3. 2026-06-04
   days on market $179,900 Active 59 DOM
4. 2026-06-03
   days on market $179,900 Active 58 DOM
5. 2026-06-02
   days on market $179,900 Active 57 DOM
6. 2026-06-01
   days on market $179,900 Active 56 DOM
7. 2026-05-31
   days on market $179,900 Active 55 DOM
8. 2026-04-26
   price $189,900 265-char remark

   Show marketing remark (265 chars)

   This property has tons of potentional. This is a 5 bedroom, 1.5 bath in Wilmington. There is some TLC needed, but overall the house is in great shape. It is a corner property, with deck that wraps around the side to the front door. Schedule your appointments today!

9. 2026-04-06
   listed $199,900 Active 265-char remark

   Show marketing remark (265 chars)

   This property has tons of potentional. This is a 5 bedroom, 1.5 bath in Wilmington. There is some TLC needed, but overall the house is in great shape. It is a corner property, with deck that wraps around the side to the front door. Schedule your appointments today!

10. 2019-01-09
    historical 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

11. 2018-10-26
    soldstatus $25,000 Closed 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

12. 2018-10-12
    status Pending 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

13. 2018-09-17
    price $32,000 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

14. 2018-07-11
    status Active 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

15. 2018-07-06
    status Pending 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

16. 2018-06-28
    price $35,000 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

17. 2017-10-27
    listed $36,500 Active 79-char remark

    Show marketing remark (79 chars)

    Large five bedroom, one and a half bath home located in the City of Wilmington.

18. 2017-06-01
    historical
19. 2016-10-10
    listed $80,000
20. 2014-03-19
    soldstatus $23,250
21. 2014-03-19
    soldstatus $23,250 Sold
22. 2014-02-27
    status Under Contract
23. 2014-02-27
    historical
24. 2014-02-17
    listed $17,999
25. 2014-02-17
    listed $17,999 Active
26. 1995-11-20
    soldstatus $45,000
27. 1984-05-01
    soldstatus $15,000

ⓘ 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: $1,102 · $92/mo
• Projected year-2 tax: $1,102 · $92/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 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,358
• − Mortgage interest: −$10,077
• − Property taxes: −$1,102
• − Insurance: −$900
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − Depreciation: −$5,233
• Taxable income: $5,668
• Est. tax owed @ 24.0%: −$1,360
• After-tax cash flow: $6,930/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

+1166.0% since first listed

20 events — show timeline

• 2026-04-26 Price Changed $189,900 BRIGHT MLS
• 2026-04-06 Listed $199,900 BRIGHT MLS
• 2019-01-09 Listing Removed — BRIGHT MLS
• 2018-10-26 Sold (MLS) $25,000 BRIGHT MLS
• 2018-10-12 Pending — BRIGHT MLS
• 2018-09-17 Price Changed $32,000 BRIGHT MLS
• 2018-07-11 Relisted — BRIGHT MLS
• 2018-07-06 Pending — BRIGHT MLS
• 2018-06-28 Price Changed $35,000 BRIGHT MLS
• 2017-10-27 Listed $36,500 BRIGHT MLS
• 2017-06-01 Listing Removed — BRIGHT MLS
• 2016-10-10 Listed $80,000 BRIGHT MLS
• 2014-03-19 Sold (MLS) $23,250 TREND
• 2014-03-19 Sold (MLS) $23,250 BRIGHT MLS
• 2014-02-27 Pending — TREND
• 2014-02-27 Listing Removed — BRIGHT MLS
• 2014-02-17 Listed $17,999 TREND
• 2014-02-17 Listed $17,999 BRIGHT MLS
• 1995-11-20 Sold (Public Records) $45,000 Public Records
• 1984-05-01 Sold (Public Records) $15,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $1,102 · +2.6% YoY. Source: county tax records.