33 Hedgerow Hollow Rd #33 · Smyrna, DE 19977

$129,000

3 bd · 2.0 ba · 1,188 sqft · SingleFamily · 71 Days on market

Built 2007 Good condition $109/sqft · 133% above area ↓ 8% 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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 33 Hedgerow Hollow Rd. in Smyrna! This sweet and inviting 3-bedroom, 2 full bathroom manufactured home is full of charm and thoughtful updates. Make this "home" during this Spring Market! Step inside to find fresh new carpet throughout, creating a clean and cozy feel in every room. The home has been well cared for with many cosmetic updates that add modern touches while maintaining its warm, welcoming vibe. Enjoy peace of mind with a newer roof installed in September 2021—one less thing to worry about! The layout offers comfortable living spaces, perfect for relaxing or entertaining. Whether you’re a first-time buyer, downsizing, or looking for an affordable move-in ready option, this home checks all the boxes. Come see it for yourself—this one won’t last long! Professional photos will be coming soon!

Key facts

• 2 parking spots
• Built 2007
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $129k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.5% in Smyrna — 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 (#29 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Smyrna School District (rural): math 22% / reading 39% proficiency, ranked #16 of 26 in DE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 220 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 1.48% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.62%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $55,338
• List price: $129,000
• Delta: 133.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Hedgerow Hollow Rd #37	0.04mi	3/2.0	1,152 (-3%)	11mo	$74,000	$64	84
182-182-B Hemlock Way #276	0.33mi	3/2.0	1,216 (+2%)	8mo	$92,000	$76	74
205 Hemlock Way	0.27mi	3/2.0	1,152 (-3%)	14mo	$109,900	$95	71
39 Holly Hill Dr #39	0.14mi	3/2.0	1,344 (+13%)	9mo	$30,000	$22	64
1134 Lorenzo Ln	0.44mi	2/2.0 (-1)	1,204 (+1%)	12mo	$156,900	$130	62
223 Laurel Ln #223	0.18mi	3/1.5	1,056 (-11%)	12mo	$22,500	$21	60
1127 Lorenzo Ln	0.47mi	2/2.0 (-1)	1,300 (+9%)	11mo	$132,500	$102	48
737 Vinway St #56	0.47mi	2/2.0 (-1)	1,092 (-8%)	14mo	$130,000	$119	48
59 Vincent Ct	0.65mi	3/2.0	1,326 (+12%)	8mo	$360,000	$271	44
58 Vincent Ct	0.69mi	3/2.0	1,326 (+12%)	6mo	$365,000	$275	43
47 Vincent Ct	0.65mi	3/2.0	1,302 (+10%)	14mo	$345,000	$265	42
726 Radnor Ln	0.55mi	3/2.0	1,350 (+14%)	12mo	$135,000	$100	41

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: 13.0%
• Equity multiple: 1.52×
• Total profit: $18,654
• Equity at exit: $19,234

10-year hold

• IRR: 21.8%
• Equity multiple: 2.86×
• Total profit: $67,261
• Equity at exit: $11,154

Cash invested: $36,120 (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 19977

• Home prices YoY: -29.1%
• Active inventory: 220
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,914 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $621

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 63%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $129,000 Active 71 DOM
2. 2026-06-18
   days on market $129,000 Active 70 DOM
3. 2026-06-17
   days on market $129,000 Active 69 DOM
4. 2026-06-16
   days on market $129,000 Active 68 DOM
5. 2026-06-15
   days on market $129,000 Active 67 DOM
6. 2026-06-14
   days on market $129,000 Active 65 DOM
7. 2026-06-13
   days on market $129,000 Active 64 DOM
8. 2026-06-10
   days on market $129,000 Active 62 DOM
9. 2026-06-09
   days on market $129,000 Active 61 DOM
10. 2026-06-08
    days on market $129,000 Active 60 DOM
11. 2026-06-07
    days on market $129,000 Active 59 DOM
12. 2026-06-05
    days on market $129,000 Active 56 DOM
13. 2026-06-02
    days on market $129,000 Active 54 DOM
14. 2026-06-01
    days on market $129,000 Active 53 DOM
15. 2026-05-31
    days on market $129,000 Active 52 DOM
16. 2026-05-30
    days on market $129,000 Active 51 DOM
17. 2026-05-18
    price $129,000 862-char remark

    Show marketing remark (862 chars)

    Welcome home to 33 Hedgerow Hollow Rd. in Smyrna! This sweet and inviting 3-bedroom, 2 full bathroom manufactured home is full of charm and thoughtful updates. Make this "home" during this Spring Market! Step inside to find fresh new carpet throughout, creating a clean and cozy feel in every room. The home has been well cared for with many cosmetic updates that add modern touches while maintaining its warm, welcoming vibe. Enjoy peace of mind with a newer roof installed in September 2021—one less thing to worry about! The layout offers comfortable living spaces, perfect for relaxing or entertaining. Whether you’re a first-time buyer, downsizing, or looking for an affordable move-in ready option, this home checks all the boxes. Come see it for yourself—this one won’t last long! Professional photos will be coming soon!

18. 2026-05-01
    price $134,000 862-char remark

    Show marketing remark (862 chars)

    Welcome home to 33 Hedgerow Hollow Rd. in Smyrna! This sweet and inviting 3-bedroom, 2 full bathroom manufactured home is full of charm and thoughtful updates. Make this "home" during this Spring Market! Step inside to find fresh new carpet throughout, creating a clean and cozy feel in every room. The home has been well cared for with many cosmetic updates that add modern touches while maintaining its warm, welcoming vibe. Enjoy peace of mind with a newer roof installed in September 2021—one less thing to worry about! The layout offers comfortable living spaces, perfect for relaxing or entertaining. Whether you’re a first-time buyer, downsizing, or looking for an affordable move-in ready option, this home checks all the boxes. Come see it for yourself—this one won’t last long! Professional photos will be coming soon!

19. 2026-04-10
    listed $140,000 Active 862-char remark

    Show marketing remark (862 chars)

    Welcome home to 33 Hedgerow Hollow Rd. in Smyrna! This sweet and inviting 3-bedroom, 2 full bathroom manufactured home is full of charm and thoughtful updates. Make this "home" during this Spring Market! Step inside to find fresh new carpet throughout, creating a clean and cozy feel in every room. The home has been well cared for with many cosmetic updates that add modern touches while maintaining its warm, welcoming vibe. Enjoy peace of mind with a newer roof installed in September 2021—one less thing to worry about! The layout offers comfortable living spaces, perfect for relaxing or entertaining. Whether you’re a first-time buyer, downsizing, or looking for an affordable move-in ready option, this home checks all the boxes. Come see it for yourself—this one won’t last long! Professional photos will be coming soon!

20. 2026-04-07
    historical $140,000 862-char remark

    Show marketing remark (862 chars)

    Welcome home to 33 Hedgerow Hollow Rd. in Smyrna! This sweet and inviting 3-bedroom, 2 full bathroom manufactured home is full of charm and thoughtful updates. Make this "home" during this Spring Market! Step inside to find fresh new carpet throughout, creating a clean and cozy feel in every room. The home has been well cared for with many cosmetic updates that add modern touches while maintaining its warm, welcoming vibe. Enjoy peace of mind with a newer roof installed in September 2021—one less thing to worry about! The layout offers comfortable living spaces, perfect for relaxing or entertaining. Whether you’re a first-time buyer, downsizing, or looking for an affordable move-in ready option, this home checks all the boxes. Come see it for yourself—this one won’t last long! Professional photos will be coming soon!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,969
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$3,753
• Taxable income: $5,735
• Est. tax owed @ 24.0%: −$1,376
• After-tax cash flow: $6,071/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 · 7 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated manufactured home is ready for a new owner. Recent roof and interior updates make it move-in ready.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and value
• Both Paint interior walls — Enhances interior appearance and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑
• Both Paint interior walls — Enhances interior appearance and value ↑

ⓘ 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: Smyrna School District
• NCES district ID: 1001620
• Math proficiency: 22% ▼ -25.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $61,704
• Composite: 27.67/100
• National rank: #6915
• State rank: #16 of 26 in DE

Livability — Smyrna

• Score: 69/100
• State rank: #29
• US rank: #8702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 27,164

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 0.59)
• Race & ethnicity: White 56% Black 29% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 5% Hispanic 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 2% Other Asian/Pacific 2%

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: ▼ -110.14%
• Current HPI: 267.998
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.9% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $129,000 BRIGHT MLS
• 2026-05-01 Price Changed $134,000 BRIGHT MLS
• 2026-04-10 Listed $140,000 BRIGHT MLS
• 2026-04-07 Coming Soon $140,000 BRIGHT MLS