7386 Pearsons Corner Rd · Cheswold, DE 19904

$100,000

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 3 Days on market

Built 1987 0.50 ac lot

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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
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ref. W1782. Mobile Home Not On Permanent Foundation - Nice Country Location. Roomy Floor Plan, Lots Of Built-Ins, Including Breakfront In Dining Room, Garden Tub And Separate Shower In Master Bath. Sturdy Shed (Approx. 15x24) Has Electricty, Telephone Line, And Intercom. Heater In Shed Is "As Is".

Key facts

• New garden tub
• Half-acre lot
• New flooring

Tags

• HALF-ACRE LOT
• NEW ROOF
• NEW WINDOWS
• NEW FLOORING
• NEW WATER HEATER
• NEW GARDEN TUB

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as below average

Exterior

• Utilities: Well water; Mound septic system; Propane available; Electric hot water
• Home design: Manufactured home (single wide)
• Construction: Vinyl siding; Shingle roof; Double-pane energy-efficient windows; No basement
• Exterior features: Lot dimensions approximately 100.00 x 217.90; No tidal water

Interior

• Kitchen: Gas oven/range; Refrigerator; Kitchen island
• Bedrooms: 2 bedrooms on the main level; Rooms include living room, dining room, master bedroom, kitchen, and an additional bedroom
• Bathrooms: 2 full bathrooms on the main level; 2 full bathrooms total
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning (electric)
• Interior features: Soaking tub; Walk-in shower in bathroom; Built-ins; Breakfast area; Ceiling fan(s); Dining area; Open floor plan; Kitchen island
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 14.5% vs local median 3.1% in Cheswold — 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 62/100 on livability (#62 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dover High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,771 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 225 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 $691 of loan paydown is wiped out by about $3k 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 + 3.3% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $44k; list at $100k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $100,000

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.65% ✓
• Cap rate: 14.53%
• Cash-on-cash: 29.42%
• DSCR: 2.31
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.00×
• Total profit: $27,997
• Equity at exit: $14,910

10-year hold

• IRR: 32.2%
• Equity multiple: 3.95×
• Total profit: $82,652
• Equity at exit: $8,646

Cash invested: $28,000 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $687

Break-even live

Break-even rent $779

Max offer price $100,000

Occupancy floor 53%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-20
   listed $100,000 Active
2. 2004-03-26
   soldstatus $44,000
3. 2004-03-19
   soldstatus $59,000 308-char remark

   Show marketing remark (308 chars)

   Ref. W1782. Mobile Home Not On Permanent Foundation - Nice Country Location. Roomy Floor Plan, Lots Of Built-Ins, Including Breakfront In Dining Room, Garden Tub And Separate Shower In Master Bath. Sturdy Shed (Approx. 15x24) Has Electricty, Telephone Line, And Intercom. Heater In Shed Is "As Is".

4. 2004-01-24
   historical 308-char remark

   Show marketing remark (308 chars)

   Ref. W1782. Mobile Home Not On Permanent Foundation - Nice Country Location. Roomy Floor Plan, Lots Of Built-Ins, Including Breakfront In Dining Room, Garden Tub And Separate Shower In Master Bath. Sturdy Shed (Approx. 15x24) Has Electricty, Telephone Line, And Intercom. Heater In Shed Is "As Is".

5. 2003-11-03
   listed $59,000 308-char remark

   Show marketing remark (308 chars)

   Ref. W1782. Mobile Home Not On Permanent Foundation - Nice Country Location. Roomy Floor Plan, Lots Of Built-Ins, Including Breakfront In Dining Room, Garden Tub And Separate Shower In Master Bath. Sturdy Shed (Approx. 15x24) Has Electricty, Telephone Line, And Intercom. Heater In Shed Is "As Is".

ⓘ 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: $592 · $49/mo
• Projected year-2 tax: $592 · $49/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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $19,775
• − Mortgage interest: −$5,602
• − Property taxes: −$592
• − Insurance: −$500
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$2,909
• Taxable income: $7,009
• Est. tax owed @ 24.0%: −$1,682
• After-tax cash flow: $6,556/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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Cheswold

• Score: 62/100
• State rank: #62
• US rank: #16254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 82,184 people
• City population: 176
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

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 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

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: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

+69.5% since first listed

5 events — show timeline

• 2026-05-20 Listed $100,000 BRIGHT MLS
• 2004-03-26 Sold (Public Records) $44,000 Public Records
• 2004-03-19 Sold (MLS) $59,000 BRIGHT MLS
• 2004-01-24 Listing Removed — BRIGHT MLS
• 2003-11-03 Listed $59,000 BRIGHT MLS

Property tax history

+4.7%/yr

Latest (2025): $592 · -51.7% YoY. Source: county tax records.