1528A Compass Dr

Bridgeville, DE 19933

$259,990C+

3 bd · 3.0 ba · 1,452 sqft · Built 2026 · Townhouse · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,538/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$0
• Vac / Maint / Mgmt: −$533
• Net cashflow: $208/mo
• Annual: $2,500/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• 1% rule: 0.98%
• Cash to close: $72,797

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $260k. Condition is rated excellent.
• At list price, monthly cash flow is $208 ($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 $254k (2.4% below list).
• It's been on market 28 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $254k (2.4% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.1% local appreciation)).
• Location reads 64/100 on livability (#48 in DE) — a middle-class / working-renter tenant base. Strengths: health & safety A, crime B; Watch: amenities F, commute F.
• Woodbridge School District (rural): math 17% / reading 34% proficiency, ranked #21 of 26 in DE (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Woodbridge Early Childhood Education Center (592 students, 0% FRL); Woodbridge Middle School (math 13% / reading 37%, grade F, #22 of 36 statewide, top 63%, 598 students, 0% FRL); Woodbridge High School (math 12% / reading 27%, grade F, #32 of 40 statewide, top 85%, 723 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 152 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 140d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 68% 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.
• Cap rate 7.3% vs local median 4.1% in Bridgeville — 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.
• At $2,538/mo this rent would consume 50% of the median local household income ($61k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.