715 W 8th St · Wilmington, DE 19801

$279,000

4 bd · 2.0 ba · 1,750 sqft · MultiFamily public records · 14 Days on market

Built 1881 1,307 sqft lot Est $212k · 32% over

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Located in the heart of the city, this impressive duplex stands elegantly renovated and ready for its new owner. Here's a glimpse into the substantial upgrades and renovations: Contemporary kitchens fitted with new cabinets, countertops, stainless steel sinks, and state-of-the-art SS appliances. Stylish luxury plank vinyl flooring gracing every room. Brand-new interior doors enhancing each space. Modern light fixtures and receptacles to brighten up the ambiance. Newer paint job less than 2 years old bringing a renewed vibrancy. Efficient new baseboard heaters ensuring a cozy environment. A fortified concrete basement floor, enhanced with a vapor barrier and thorough waterproofing. A newly installed flat roof (as of April '22) for the 2nd level. New water heaters in basement (with new expansion tanks) -waterproofing in basement -new plumbing in both bathrooms -2 new windows in downstairs unit. -All appliances less than 2 years old new) stainless steel. - New Electric meter box and post. - new 6ft privacy fence and deck/ fire escape. (Concrete back patio) -All new locks on doors -Newer baseboard heating (less than 1 year) New Backyard concrete patio, a fresh front entry door is soon to grace the entrance. This property isn’t just a home; it's an opportunity, potential gross of $30,000 a year. Rarely do you find such a meticulously renovated, turn-key income-producing property in the city. City of Wilmington and section 8 approved units. The question is, with opportunity knocking so loudly, who's ready to open the door?

Key facts

• 1,307 sq ft lot
• Built 1881
• Listed 13 days

Property features AI

Finance

• Other: Assessor-reported finished above-grade area
• Financial info: Total actual rent reported: $30,000; Fee simple ownership
• HOA & community: Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; 2 stories; Not winterized
• Construction: Brick construction; Block foundation; Flat roof; Built according to assessor records
• Exterior features: Sidewalks; Street lights; Deck(s)

Interior

• Kitchen: Built-in microwave; Electric oven/range; Stainless steel appliances
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit; Two vacant units
• Flooring: Luxury vinyl plank
• Heating & cooling: Electric baseboard heating
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive. Per door: $477/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Cap rate 10.4% vs local median 5.8% in Wilmington — 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 64/100 on livability (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, commute D, crime 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.
• Zoned schools: Stubbs Early Education Center (190 students, 0% FRL); The Bayard School (math 3% / reading 10%, grade F, #102 of 105 statewide, top 97%, 508 students, 0% FRL); Christiana High School (math 49% / reading 66%, grade C, #3 of 40 statewide, top 5%, 1,256 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.6%/yr); 76 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $3,333/mo this rent would consume 76% of the median local household income ($53k/yr) (locally 919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $78k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 31y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $279,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $211,750
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
811 W 4th St	0.24mi	3/— (-1)	1,725 (-1%)	0mo	$168,500	$98	81
715 8th St	0.00mi	4/4.0	1,750 (0%)	14mo	$259,900	$149	81
1302 Elm St	0.67mi	4/—	1,800 (+3%)	2mo	$210,000	$117	62
405 W 7th St	0.22mi	3/2.0 (-1)	1,925 (+10%)	17mo	$180,000	$94	54
1210 N King St	0.59mi	5/— (+1)	1,930 (+10%)	1mo	$233,000	$121	49
1230 Linden St	0.69mi	3/— (-1)	1,825 (+4%)	16mo	$240,000	$132	42

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

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $10,816
• Equity at exit: $41,600

10-year hold

• IRR: 11.9%
• Equity multiple: 1.88×
• Total profit: $68,679
• Equity at exit: $24,123

Cash invested: $78,120 (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 19801

• Rents YoY: 1.6%
• Active inventory: 76
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,333 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$99 /mo · $1,191/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $954

Break-even live

Break-even rent $2,125

Max offer price $279,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,112	-5% $1,033	+0% $954	+5% $876	+10% $797
Rent	-10% $691	-5% $823	+0% $954	+5% $1,086	+10% $1,218
Rate	-1.0pp $1,095	-0.5pp $1,025	base $954	+0.5pp $882	+1.0pp $809

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,334
Total (2 units)			$3,333

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	19d	1	0.21mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	1d	115	0.31mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,795	$1.20	1d	1	0.40mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	26d	1	0.46mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	46d	1	0.50mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	21d	1	0.57mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	46d	1	0.60mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	21d	1	0.69mi
1110 Maple St Wilmington, DE	3.0	1.0	1525	$1,600	$1.05	46d	1	0.70mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	46d	1	0.76mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	46d	1	0.90mi
1913 W 2nd St Unit 1913 Wilmington, DE	5.0	1.5	1675	$2,050	$1.22	46d	1	0.93mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	7d	1	0.93mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	26d	1	1.02mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	46d	1	1.05mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	46d	1	1.07mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	17d	1	1.12mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,850	$1.28	0d	1	1.16mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	46d	1	1.21mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	21d	1	1.23mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	46d	1	1.26mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	26d	1	1.28mi
1601 Bonwood Rd Wilmington, DE	3.0	1.5	1500	$1,850	$1.23	26d	1	1.43mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	17d	1	1.46mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	0d	1	1.46mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	46d	1	1.49mi

Listing history 11 events

1. 2026-06-22
   days on market $279,000 Active 14 DOM
2. 2026-06-21
   days on market $279,000 Active 13 DOM
3. 2026-06-18
   days on market $279,000 Active 10 DOM
4. 2026-06-17
   days on market $279,000 Active 9 DOM
5. 2026-06-16
   days on market $279,000 Active 8 DOM
6. 2026-06-15
   days on market $279,000 Active 7 DOM
7. 2026-06-13
   days on market $279,000 Active 5 DOM
8. 2026-06-13
   days on market $279,000 Active 4 DOM
9. 2026-06-09
   status $279,000 Active 1 DOM
10. 2026-06-08
    remarks 699-char remark
11. 2026-06-08
    listed $279,000 Coming Soon 1 DOM

ⓘ 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: $1,191 · $99/mo
• Projected year-2 tax: $1,404 · $117/mo
• Expected delta: +$214/yr (+$18/mo · 18.0%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,996
• − Mortgage interest: −$15,628
• − Property taxes: −$1,191
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,200
• − Management: −$3,200
• − Depreciation: −$8,116
• Taxable income: $7,266
• Est. tax owed @ 24.0%: −$1,744
• After-tax cash flow: $9,710/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 — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+1168.2% since first listed

34 events — show timeline

• 2026-06-07 Coming Soon $279,000 BRIGHT MLS
• 2025-05-14 Sold (Public Records) $259,900 Public Records
• 2025-05-01 Sold (MLS) $259,900 BRIGHT MLS
• 2025-04-18 Contingent — BRIGHT MLS
• 2025-04-17 Listed $259,900 BRIGHT MLS
• 2025-04-15 Coming Soon $259,900 BRIGHT MLS
• 2023-05-09 Sold (MLS) $212,770 BRIGHT MLS
• 2023-04-17 Contingent — BRIGHT MLS
• 2023-04-07 Relisted — BRIGHT MLS
• 2023-04-04 Pending — BRIGHT MLS
• 2023-03-24 Relisted — BRIGHT MLS
• 2023-03-23 Listing Removed — BRIGHT MLS
• 2023-02-22 Price Changed $210,000 BRIGHT MLS
• 2023-01-19 Listed $219,000 BRIGHT MLS
• 2023-01-19 Coming Soon $219,000 BRIGHT MLS
• 2023-01-19 Listed $219,000 BRIGHT MLS
• 2023-01-10 Coming Soon $219,000 BRIGHT MLS
• 2022-03-03 Sold (Public Records) $106,400 Public Records
• 2022-02-21 Sold (MLS) $133,000 BRIGHT MLS
• 2021-12-29 Pending — BRIGHT MLS
• 2021-12-19 Listed $140,000 BRIGHT MLS
• 2010-06-24 Listing Removed — BRIGHT MLS
• 2010-02-01 Listed $123,500 BRIGHT MLS
• 2008-07-29 Listing Removed — BRIGHT MLS
• 2008-04-29 Listed $105,000 BRIGHT MLS
• 2002-08-12 Listing Removed — BRIGHT MLS
• 2002-08-12 Listed $79,900 BRIGHT MLS
• 1997-02-28 Sold (MLS) $57,793 BRIGHT MLS
• 1997-02-17 Listing Removed — BRIGHT MLS
• 1996-03-20 Listed $57,793 BRIGHT MLS
• 1995-07-18 Listing Removed — BRIGHT MLS
• 1995-07-18 Listed $60,000 BRIGHT MLS
• 1988-08-01 Sold (Public Records) $76,000 Public Records
• 1985-12-01 Sold (Public Records) $22,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $1,191 · +2.6% YoY. Source: county tax records.