564 Front St · Houston, DE 19954

$249,900

4 bd · 1.0 ba · 3,704 sqft · SingleFamily public records · 153 Days on market

Built 1899 1.30 ac lot $67/sqft · 40% below area Est $413k · 40% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Appreciation +5.6/10.0
• Livability +3.1/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 1% rule +1.7/10.0

Listing remarks MLS

Step back in time with this 1899 Colonial two-story home set on a picturesque 1.3-acre lot in the heart of Houston. Rich in character and historic appeal, this property features original lighting fixtures, hardwood floors, trim, and doors, showcasing craftsmanship rarely found today. The home needs extensive repairs and is being offered as a renovation opportunity, but it has good bones and solid structure, making it ideal for restoration, a historic rehab project, or an investor looking to bring new life to a classic Colonial. Spacious rooms, traditional layout, and authentic architectural details provide a strong foundation for renovation while preserving its original charm. The expansive 1.3-acre lot offers ample space for outdoor use, expansion, or future possibilities. Conveniently located near Route 13 with easy access to Milford, Dover, shopping, and dining. A unique opportunity for buyers seeking a historic home with character and potential.

Key facts

• 1.3 acre lot
• 10 parking spots
• Pool

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (33.4% below list).
• Recommended offer: $166k (33.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#64 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime C-, amenities F, commute F.
• Milford School District (town): math 18% / reading 32% proficiency, ranked #22 of 26 in DE (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Banneker (Benjamin) Elementary School (math 16% / reading 27%, grade F, #75 of 105 statewide, top 71%, 484 students, 0% FRL); Milford Central Academy (math 21% / reading 36%, grade F, #17 of 36 statewide, top 46%, 1,068 students, 0% FRL); Milford Senior High School (math 17% / reading 32%, grade F, #27 of 40 statewide, top 69%, 1,279 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 9 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $49k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $250k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $166,310 (33.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.35%
• DSCR: 0.85
• GRM: 12.5

CMA / ARV

• ARV (median comp): $413,474
• List price: $249,900
• Delta: -39.56%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.93×
• Total profit: $-5,129
• Equity at exit: $88,251

10-year hold

• IRR: 3.4%
• Equity multiple: 1.42×
• Total profit: $29,415
• Equity at exit: $119,584

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 19954

• Home prices YoY: 0.7%
• Active inventory: 9
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$95 /mo · $1,138/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-196

Break-even live

Break-even rent $1,911

Max offer price $215,351

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-125	+0% $-196	+5% $-266	+10% $-337
Rent	-10% $-327	-5% $-261	+0% $-196	+5% $-130	+10% $-64
Rate	-1.0pp $-70	-0.5pp $-132	base $-196	+0.5pp $-260	+1.0pp $-326

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. 2026-06-21
   days on market $249,900 Active 153 DOM
2. 2026-06-19
   days on market $249,900 Active 151 DOM
3. 2026-06-18
   days on market $249,900 Active 150 DOM
4. 2026-06-17
   days on market $249,900 Active 149 DOM
5. 2026-06-16
   days on market $249,900 Active 148 DOM
6. 2026-06-15
   days on market $249,900 Active 147 DOM
7. 2026-06-14
   days on market $249,900 Active 145 DOM
8. 2026-06-13
   days on market $249,900 Active 144 DOM
9. 2026-06-10
   days on market $249,900 Active 142 DOM
10. 2026-06-09
    days on market $249,900 Active 141 DOM
11. 2026-06-08
    days on market $249,900 Active 140 DOM
12. 2026-06-07
    days on market $249,900 Active 139 DOM
13. 2026-06-03
    days on market $249,900 Active 135 DOM
14. 2026-06-02
    days on market $249,900 Active 134 DOM
15. 2026-06-01
    days on market $249,900 Active 133 DOM
16. 2026-05-31
    days on market $249,900 Active 132 DOM
17. 2026-05-30
    days on market $249,900 Active 131 DOM
18. 2026-03-26
    price $249,900 963-char remark

    Show marketing remark (963 chars)

    Step back in time with this 1899 Colonial two-story home set on a picturesque 1.3-acre lot in the heart of Houston. Rich in character and historic appeal, this property features original lighting fixtures, hardwood floors, trim, and doors, showcasing craftsmanship rarely found today. The home needs extensive repairs and is being offered as a renovation opportunity, but it has good bones and solid structure, making it ideal for restoration, a historic rehab project, or an investor looking to bring new life to a classic Colonial. Spacious rooms, traditional layout, and authentic architectural details provide a strong foundation for renovation while preserving its original charm. The expansive 1.3-acre lot offers ample space for outdoor use, expansion, or future possibilities. Conveniently located near Route 13 with easy access to Milford, Dover, shopping, and dining. A unique opportunity for buyers seeking a historic home with character and potential.

19. 2026-01-20
    listed $299,000 Active 963-char remark

    Show marketing remark (963 chars)

    Step back in time with this 1899 Colonial two-story home set on a picturesque 1.3-acre lot in the heart of Houston. Rich in character and historic appeal, this property features original lighting fixtures, hardwood floors, trim, and doors, showcasing craftsmanship rarely found today. The home needs extensive repairs and is being offered as a renovation opportunity, but it has good bones and solid structure, making it ideal for restoration, a historic rehab project, or an investor looking to bring new life to a classic Colonial. Spacious rooms, traditional layout, and authentic architectural details provide a strong foundation for renovation while preserving its original charm. The expansive 1.3-acre lot offers ample space for outdoor use, expansion, or future possibilities. Conveniently located near Route 13 with easy access to Milford, Dover, shopping, and dining. A unique opportunity for buyers seeking a historic home with character and potential.

20. 2026-01-14
    historical $299,000 963-char remark

    Show marketing remark (963 chars)

    Step back in time with this 1899 Colonial two-story home set on a picturesque 1.3-acre lot in the heart of Houston. Rich in character and historic appeal, this property features original lighting fixtures, hardwood floors, trim, and doors, showcasing craftsmanship rarely found today. The home needs extensive repairs and is being offered as a renovation opportunity, but it has good bones and solid structure, making it ideal for restoration, a historic rehab project, or an investor looking to bring new life to a classic Colonial. Spacious rooms, traditional layout, and authentic architectural details provide a strong foundation for renovation while preserving its original charm. The expansive 1.3-acre lot offers ample space for outdoor use, expansion, or future possibilities. Conveniently located near Route 13 with easy access to Milford, Dover, shopping, and dining. A unique opportunity for buyers seeking a historic home with character and potential.

21. 1997-08-01
    soldstatus $80,000 273-char remark

    Show marketing remark (273 chars)

    Southern Colonial 100 Years+ Approx 3000 Sf Of Living Space On 1.3 Ac Needs Tlc But Is Show Place Property 14X12 Entry Hardwood Floors Loft Ceilings Many Double Doors To Rooms, French Doors, 3 Fireplaces, Pool, Fabulous Potential - Property Is Being Sold "As-Is".

22. 1997-08-01
    soldstatus $80,000

    Show marketing remark (273 chars)

    Southern Colonial 100 Years+ Approx 3000 Sf Of Living Space On 1.3 Ac Needs Tlc But Is Show Place Property 14X12 Entry Hardwood Floors Loft Ceilings Many Double Doors To Rooms, French Doors, 3 Fireplaces, Pool, Fabulous Potential - Property Is Being Sold "As-Is".

23. 1997-06-09
    historical 273-char remark

    Show marketing remark (273 chars)

    Southern Colonial 100 Years+ Approx 3000 Sf Of Living Space On 1.3 Ac Needs Tlc But Is Show Place Property 14X12 Entry Hardwood Floors Loft Ceilings Many Double Doors To Rooms, French Doors, 3 Fireplaces, Pool, Fabulous Potential - Property Is Being Sold "As-Is".

24. 1997-05-21
    listed $80,000 273-char remark

    Show marketing remark (273 chars)

    Southern Colonial 100 Years+ Approx 3000 Sf Of Living Space On 1.3 Ac Needs Tlc But Is Show Place Property 14X12 Entry Hardwood Floors Loft Ceilings Many Double Doors To Rooms, French Doors, 3 Fireplaces, Pool, Fabulous Potential - Property Is Being Sold "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: $1,138 · $95/mo
• Projected year-2 tax: $1,293 · $108/mo
• Expected delta: +$156/yr (+$13/mo · 13.7%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $19,957
• − Mortgage interest: −$13,998
• − Property taxes: −$1,138
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$7,270
• Taxable loss: −$6,891
• Est. tax savings @ 24.0%: +$1,654
• After-tax cash flow: $-693/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: Milford School District
• NCES district ID: 1001080
• Math proficiency: 18% ▼ -26.00%
• Reading proficiency: 32% ▼ -19.00%
• Median HH income: $51,794
• Composite: 22.18/100
• National rank: #8162
• State rank: #22 of 26 in DE

Livability — Houston

• Score: 62/100
• State rank: #64
• US rank: #17263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, DE
• Population (ZIP): 1,728

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: Predominantly White (85%)
• Race & ethnicity: White 85% Black 12% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 1.23%
• Current HPI: 189.7421
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+212.4% since first listed

7 events — show timeline

• 2026-03-26 Price Changed $249,900 BRIGHT MLS
• 2026-01-20 Listed $299,000 BRIGHT MLS
• 2026-01-14 Coming Soon $299,000 BRIGHT MLS
• 1997-08-01 Sold (Public Records) $80,000 Public Records
• 1997-08-01 Sold (MLS) $80,000 BRIGHT MLS
• 1997-06-09 Listing Removed — BRIGHT MLS
• 1997-05-21 Listed $80,000 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2025): $1,138 · -4.2% YoY. Source: county tax records.