114 W Front St · Frederica, DE 19946

$144,900

3 bd · 1.5 ba · 1,588 sqft · SingleFamily public records · 88 Days on market

Built 1900 4,966 sqft lot ↓ 7% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

Key facts

• Private half bath
• Utility laundry room
• Screened porch

Tags

• PRIVATE HALF BATH
• UTILITY LAUNDRY ROOM
• ADDITIONAL ATTIC STORAGE
• SCREENED PORCH
• DETACHED GARAGE WORKSHOP

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 5.5% in Frederica — 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 68/100 on livability (#34 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Lake Forest School District (rural): math 26% / reading 44% proficiency, ranked #13 of 26 in DE (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Forest East Elementary School (math 52% / reading 47%, grade D, #14 of 105 statewide, top 12%, 322 students, 0% FRL); Chipman (W.T.) Middle School (math 24% / reading 45%, grade F, #12 of 36 statewide, top 34%, 965 students, 0% FRL); Lake Forest High School (math 27% / reading 47%, grade F, #16 of 40 statewide, top 38%, 870 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 42% of the median local income ($80k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 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?
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: 1.94% ✓
• Cap rate: 16.87%
• Cash-on-cash: 37.77%
• DSCR: 2.68
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $316,012
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W Front St	0.04mi	3/2.5	1,685 (+6%)	1mo	$349,000	$207	83
1 Jackson St	0.07mi	3/2.5	1,536 (-3%)	6mo	$324,900	$212	82
5 Hillside Ave	0.14mi	3/1.5	1,440 (-9%)	8mo	$290,000	$201	71
19 Front St	0.22mi	4/1.0 (+1)	1,656 (+4%)	13mo	$270,000	$163	65
101 Lowber St	0.20mi	4/2.5 (+1)	1,730 (+9%)	3mo	$344,000	$199	64
9 4th St	0.12mi	4/2.0 (+1)	1,360 (-14%)	2mo	$255,000	$188	62
74 Frog Leg Ln	0.07mi	3/2.0	1,352 (-15%)	11mo	$164,000	$121	61
7 4th St	0.13mi	4/2.0 (+1)	1,393 (-12%)	22mo	$265,000	$190	48

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: 33.8%
• Equity multiple: 2.43×
• Total profit: $57,858
• Equity at exit: $21,605

10-year hold

• IRR: 40.7%
• Equity multiple: 4.82×
• Total profit: $155,145
• Equity at exit: $12,528

Cash invested: $40,572 (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 19946

• Home prices YoY: -16.1%
• Active inventory: 74
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,817 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$128 /mo · $1,535/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $1,277

Break-even live

Break-even rent $1,200

Max offer price $144,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,359	-5% $1,318	+0% $1,277	+5% $1,236	+10% $1,195
Rent	-10% $1,054	-5% $1,166	+0% $1,277	+5% $1,388	+10% $1,499
Rate	-1.0pp $1,350	-0.5pp $1,314	base $1,277	+0.5pp $1,239	+1.0pp $1,201

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
287 Hightide Dr Frederica, DE	3.0	2.0	1942	$2,750	$1.42	45d	1	0.78mi
39 Riptide Ct Frederica, DE	3.0	2.5	1855	$2,100	$1.13	45d	1	0.86mi

Listing history 6 events

1. 2026-05-13
   price $144,900 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

2. 2026-04-15
   status Active 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

3. 2026-02-26
   status Pending 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

4. 2026-01-28
   status Active 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

5. 2026-01-23
   historical 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

6. 2026-01-08
   listed $155,900 Active 763-char remark

   Show marketing remark (763 chars)

   Great opportunity to own or invest! This 3-bedroom, 1.5-bath home is well located and priced to sell, offering strong potential for instant equity. The main level features a bedroom with a private half bath, along with separate living and family rooms. The kitchen offers ample cabinet and counter space, plus a utility/laundry room just off the kitchen. Upstairs are two generously sized bedrooms with additional attic storage. Exterior highlights include a screened porch and a detached garage/workshop—ideal for storage, hobbies, or rental appeal. Walk to the school and post office. Perfect opportunity for investors, first-time buyers, or anyone looking to add value with cosmetic updates. You can’t beat the price for the location and potential.

ⓘ 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: $1,535 · $128/mo
• Projected year-2 tax: $1,535 · $128/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,799
• − Mortgage interest: −$8,117
• − Property taxes: −$1,535
• − Insurance: −$724
• − Repairs & maintenance: −$2,704
• − Management: −$2,704
• − Depreciation: −$4,215
• Taxable income: $13,800
• Est. tax owed @ 24.0%: −$3,312
• After-tax cash flow: $12,011/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: Lake Forest School District
• NCES district ID: 1000790
• Math proficiency: 26% ▼ -23.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $52,034
• Composite: 30.47/100
• National rank: #6225
• State rank: #13 of 26 in DE

Livability — Frederica

• Score: 68/100
• State rank: #34
• US rank: #9737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frederica, DE
• County: Kent County · 82,184 people
• City population: 5,603
• Metro: Dover, DE
• Population (ZIP): 5,603
• Household income: $80,459
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 128.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Black 19% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Italian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.16%
• Current HPI: 189.0713
• Rent YoY: —
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

-7.1% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $144,900 BRIGHT MLS
• 2026-04-15 Relisted — BRIGHT MLS
• 2026-02-26 Pending — BRIGHT MLS
• 2026-01-28 Relisted — BRIGHT MLS
• 2026-01-23 Listing Removed — BRIGHT MLS
• 2026-01-08 Listed $155,900 BRIGHT MLS

Property tax history

+13.1%/yr

Latest (2025): $1,535 · +112.9% YoY. Source: county tax records.