115 5th St #31 · Delaware City, DE 19706

$85,000

3 bd · 1.0 ba · 900 sqft · SingleFamily · 105 Days on market

Built 1978 Good condition 2,200 sqft lot $94/sqft · 71% below area ↓ 32% 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
• Appreciation +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Welcome to this charming home located in Delaware City, DE. This quaint property offers a single level for convenient living. Step inside to discover a well-maintained interior boasting a variety of upgraded features. The kitchen is a standout with a spacious island, upgraded countertops, and stainless steel appliances including a built-in microwave, ENERGY STAR refrigerator, and oven/range. The home also offers a comfortable living space with recessed lighting, and a bathroom with tub shower. Climate control is provided by two individual ductless/mini-splits, accompanied by whole house supply ventilation, and zoned systems for both heating and cooling. Enjoy outdoor living on the deck, perfect for hosting gatherings or simply relaxing in the fresh air. Additional amenities include dual flush toilets, energy-efficient appliances, and stacked washer/dryer. Don't miss the opportunity to make this delightful property your new home sweet home in Delaware City! Contact us today for more information and to schedule a showing.

Key facts

• 2,200 sq ft lot
• Built 1978
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#60 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

Forward outlook

• In year one you build about $1 of equity ($588 loan paydown + $-587 appreciation (-0.7% local appreciation)).
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. 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.
7. 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.
8. 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: 2.32% ✓
• Cap rate: 19.98%
• Cash-on-cash: 48.90%
• DSCR: 3.18
• GRM: 3.6

CMA / ARV

• ARV (median comp): $294,996
• List price: $85,000
• Delta: -71.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 5th St #59	0.13mi	2/1.0 (-1)	900 (0%)	7mo	$11,500	$13	83
510 Hamilton St	0.14mi	2/1.0 (-1)	975 (+8%)	7mo	$175,000	$179	69
307 5th St	0.16mi	2/1.0 (-1)	775 (-14%)	23mo	$202,500	$261	45
139 Warfel Dr	0.35mi	4/2.0 (+1)	1,025 (+14%)	14mo	$345,000	$337	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.4%
• Equity multiple: 3.38×
• Total profit: $56,588
• Equity at exit: $21,787

10-year hold

• IRR: 52.7%
• Equity multiple: 6.76×
• Total profit: $137,100
• Equity at exit: $23,978

Cash invested: $23,800 (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 19706

• Home prices YoY: -0.2%
• Active inventory: 16
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,971 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $970

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 46%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Warfel Dr Delaware City, DE	3.0	1.0	800	$1,595	$1.99	44d	1	0.10mi
510 Hamilton St Delaware City, DE	3.0	1.0	975	$2,450	$2.51	24d	1	0.13mi

Listing history 21 events

1. 2026-06-18
   days on market $85,000 Active 105 DOM
2. 2026-06-17
   days on market $85,000 Active 104 DOM
3. 2026-06-16
   days on market $85,000 Active 103 DOM
4. 2026-06-15
   days on market $85,000 Active 102 DOM
5. 2026-06-13
   days on market $85,000 Active 100 DOM
6. 2026-06-09
   days on market $85,000 Active 96 DOM
7. 2026-06-08
   days on market $85,000 Active 95 DOM
8. 2026-06-07
   days on market $85,000 Active 94 DOM
9. 2026-06-04
   days on market $85,000 Active 91 DOM
10. 2026-06-03
    days on market $85,000 Active 90 DOM
11. 2026-06-02
    days on market $85,000 Active 89 DOM
12. 2026-06-01
    days on market $85,000 Active 88 DOM
13. 2026-05-31
    days on market $85,000 Active 87 DOM
14. 2026-04-25
    price $85,000 1035-char remark

    Show marketing remark (1035 chars)

    Welcome to this charming home located in Delaware City, DE. This quaint property offers a single level for convenient living. Step inside to discover a well-maintained interior boasting a variety of upgraded features. The kitchen is a standout with a spacious island, upgraded countertops, and stainless steel appliances including a built-in microwave, ENERGY STAR refrigerator, and oven/range. The home also offers a comfortable living space with recessed lighting, and a bathroom with tub shower. Climate control is provided by two individual ductless/mini-splits, accompanied by whole house supply ventilation, and zoned systems for both heating and cooling. Enjoy outdoor living on the deck, perfect for hosting gatherings or simply relaxing in the fresh air. Additional amenities include dual flush toilets, energy-efficient appliances, and stacked washer/dryer. Don't miss the opportunity to make this delightful property your new home sweet home in Delaware City! Contact us today for more information and to schedule a showing.

15. 2026-04-17
    price $88,500 1035-char remark

    Show marketing remark (1035 chars)

    Welcome to this charming home located in Delaware City, DE. This quaint property offers a single level for convenient living. Step inside to discover a well-maintained interior boasting a variety of upgraded features. The kitchen is a standout with a spacious island, upgraded countertops, and stainless steel appliances including a built-in microwave, ENERGY STAR refrigerator, and oven/range. The home also offers a comfortable living space with recessed lighting, and a bathroom with tub shower. Climate control is provided by two individual ductless/mini-splits, accompanied by whole house supply ventilation, and zoned systems for both heating and cooling. Enjoy outdoor living on the deck, perfect for hosting gatherings or simply relaxing in the fresh air. Additional amenities include dual flush toilets, energy-efficient appliances, and stacked washer/dryer. Don't miss the opportunity to make this delightful property your new home sweet home in Delaware City! Contact us today for more information and to schedule a showing.

16. 2026-03-06
    listed $88,900 Active 1035-char remark

    Show marketing remark (1035 chars)

    Welcome to this charming home located in Delaware City, DE. This quaint property offers a single level for convenient living. Step inside to discover a well-maintained interior boasting a variety of upgraded features. The kitchen is a standout with a spacious island, upgraded countertops, and stainless steel appliances including a built-in microwave, ENERGY STAR refrigerator, and oven/range. The home also offers a comfortable living space with recessed lighting, and a bathroom with tub shower. Climate control is provided by two individual ductless/mini-splits, accompanied by whole house supply ventilation, and zoned systems for both heating and cooling. Enjoy outdoor living on the deck, perfect for hosting gatherings or simply relaxing in the fresh air. Additional amenities include dual flush toilets, energy-efficient appliances, and stacked washer/dryer. Don't miss the opportunity to make this delightful property your new home sweet home in Delaware City! Contact us today for more information and to schedule a showing.

17. 2026-03-04
    historical $88,900 1035-char remark

    Show marketing remark (1035 chars)

    Welcome to this charming home located in Delaware City, DE. This quaint property offers a single level for convenient living. Step inside to discover a well-maintained interior boasting a variety of upgraded features. The kitchen is a standout with a spacious island, upgraded countertops, and stainless steel appliances including a built-in microwave, ENERGY STAR refrigerator, and oven/range. The home also offers a comfortable living space with recessed lighting, and a bathroom with tub shower. Climate control is provided by two individual ductless/mini-splits, accompanied by whole house supply ventilation, and zoned systems for both heating and cooling. Enjoy outdoor living on the deck, perfect for hosting gatherings or simply relaxing in the fresh air. Additional amenities include dual flush toilets, energy-efficient appliances, and stacked washer/dryer. Don't miss the opportunity to make this delightful property your new home sweet home in Delaware City! Contact us today for more information and to schedule a showing.

18. 2026-02-17
    historical
19. 2025-12-18
    price $89,900
20. 2025-10-31
    price $99,900
21. 2025-10-17
    listed $124,900 Active

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

Taxation est. · year 1

• Rental income: $23,653
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − Depreciation: −$2,473
• Taxable income: $10,935
• Est. tax owed @ 24.0%: −$2,624
• After-tax cash flow: $9,013/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 · 12 photos

Good 80/100 Cosmetic rehab

This charming single-level home in Delaware City, DE, is in good condition with recent cosmetic updates, making it move-in ready and attractive for both resale and rental.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace outdoor lighting — Improves safety and aesthetics
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace outdoor lighting — Improves safety and aesthetics ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — Delaware City

• Score: 63/100
• State rank: #60
• US rank: #15979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delaware City, DE
• City population: 2,059
• Population (ZIP): 2,059

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 White (75%)
• Race & ethnicity: White 75% Two or more races 15% Hispanic / Latino 9% Black 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -0.69%
• Current HPI: 306.7702
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-31.9% since first listed

8 events — show timeline

• 2026-04-25 Price Changed $85,000 BRIGHT MLS
• 2026-04-17 Price Changed $88,500 BRIGHT MLS
• 2026-03-06 Listed $88,900 BRIGHT MLS
• 2026-03-04 Coming Soon $88,900 BRIGHT MLS
• 2026-02-17 Listing Removed — BRIGHT MLS
• 2025-12-18 Price Changed $89,900 BRIGHT MLS
• 2025-10-31 Price Changed $99,900 BRIGHT MLS
• 2025-10-17 Listed $124,900 BRIGHT MLS