3017 Frenchtown Rd · Glasgow, DE 19702

$249,900

3 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 68 Days on market

Built 1969 0.50 ac lot $188/sqft · 39% below area Est $409k · 39% under ↓ 9% since listing

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Why this score? — see what drove the C- 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

Key facts

• Full basement
• Half acre corner lot
• Enclosed porch

Tags

• HALF ACRE CORNER LOT
• LARGE SHED
• ENCLOSED PORCH
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (11.3% below list).
• Recommended offer: $222k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.5% in Glasgow — 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 77/100 on livability (#4 in DE, #3,151 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• 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 (+2.2%/yr); 154 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,569 (11.3% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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: 0.89% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (median comp): $409,398
• List price: $249,900
• Delta: -38.96%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.19% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-33,100
• Equity at exit: $37,261

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-24,342
• Equity at exit: $21,607

Cash invested: $69,972 (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 19702

• Rents YoY: 2.2%
• Active inventory: 154
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,216 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$191 /mo · $2,291/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $145

Break-even live

Break-even rent $2,032

Max offer price $249,900

Occupancy floor 88%

Sensitivity live

Price	-10% $286	-5% $216	+0% $145	+5% $74	+10% $3
Rent	-10% $-30	-5% $57	+0% $145	+5% $232	+10% $320
Rate	-1.0pp $271	-0.5pp $208	base $145	+0.5pp $80	+1.0pp $14

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-07
   status $249,900 Pending 68 DOM
2. 2026-05-20
   status Active 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

3. 2026-05-14
   status Pending 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

4. 2026-05-11
   historical Active Under Contract 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

5. 2026-04-18
   status Active 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

6. 2026-04-16
   historical Active Under Contract 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

7. 2026-03-26
   status Pending 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

8. 2026-03-24
   historical Active Under Contract 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

9. 2026-03-17
   price $249,900 471-char remark

   Show marketing remark (471 chars)

   Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

10. 2026-03-05
    status Active 471-char remark

    Show marketing remark (471 chars)

    Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

11. 2026-03-04
    historical Active Under Contract 471-char remark

    Show marketing remark (471 chars)

    Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

12. 2026-02-15
    listed $264,900 Active 471-char remark

    Show marketing remark (471 chars)

    Brick rancher on half acre corner lot! Three bedroom home with large shed, enclosed porch, and full basement. Close to Rt 40 for easy access to work, shopping and entertainment. Purchasers may use any lender they choose to finance the purchase of a property. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers site by the BUYER AGENT ONLY.

13. 2025-11-12
    historical
14. 2025-09-16
    historical Active Under Contract
15. 2025-03-22
    status Pending
16. 2025-03-20
    historical
17. 2025-03-10
    listed $230,000 Active
18. 2025-03-03
    historical
19. 2024-12-22
    historical Active Under Contract
20. 2024-12-09
    status Active
21. 2024-07-22
    historical
22. 2024-07-03
    historical Active Under Contract
23. 2024-06-30
    listed $275,000 Active
24. 2024-06-25
    historical

ⓘ 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: $2,291 · $191/mo
• Projected year-2 tax: $2,291 · $191/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,588
• − Mortgage interest: −$13,998
• − Property taxes: −$2,291
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − Depreciation: −$7,270
• Taxable loss: −$2,474
• Est. tax savings @ 24.0%: +$594
• After-tax cash flow: $2,332/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 — Glasgow

• Score: 77/100
• State rank: #4
• US rank: #3151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glasgow, DE
• County: New Castle County · 483,412 people
• City population: 56,049
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 55,683
• Household income: $92,446
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1421.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 38% Black 31% Hispanic / Latino 14% Asian 12% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 11% Other Indo-European 5% Other Asian/Pacific 3%

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: ▼ -241.79%
• Current HPI: 248.8414
• Rent YoY: ▲ 2.19%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-9.1% since first listed

23 events — show timeline

• 2026-05-20 Relisted — BRIGHT MLS
• 2026-05-14 Pending — BRIGHT MLS
• 2026-05-11 Contingent — BRIGHT MLS
• 2026-04-18 Relisted — BRIGHT MLS
• 2026-04-16 Contingent — BRIGHT MLS
• 2026-03-26 Pending — BRIGHT MLS
• 2026-03-24 Contingent — BRIGHT MLS
• 2026-03-17 Price Changed $249,900 BRIGHT MLS
• 2026-03-05 Relisted — BRIGHT MLS
• 2026-03-04 Contingent — BRIGHT MLS
• 2026-02-15 Listed $264,900 BRIGHT MLS
• 2025-11-12 Listing Removed — BRIGHT MLS
• 2025-09-16 Contingent — BRIGHT MLS
• 2025-03-22 Pending — BRIGHT MLS
• 2025-03-20 Listing Removed — BRIGHT MLS
• 2025-03-10 Listed $230,000 BRIGHT MLS
• 2025-03-03 Listing Removed — BRIGHT MLS
• 2024-12-22 Contingent — BRIGHT MLS
• 2024-12-09 Relisted — BRIGHT MLS
• 2024-07-22 Listing Removed — BRIGHT MLS
• 2024-07-03 Contingent — BRIGHT MLS
• 2024-06-30 Listed $275,000 BRIGHT MLS
• 2024-06-25 Coming Soon — BRIGHT MLS

Property tax history

-11.5%/yr

Latest (2024): $2,291 · +311.9% YoY. Source: county tax records.