205 E 24th St · Wilmington, DE 19802

$134,000

3 bd · 1.0 ba · 1,125 sqft · Townhouse public records · 50 Days on market

Built 1910 1,307 sqft lot $119/sqft · 11% above area Est $121k · 11% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * New Price Reduction * * * Come check out this great investment property or an awesome home for a first time home buyer. This 3-bedroom 1 bath home within the city limits is ready for its new owner. There are 3 spacious bedrooms and a formal living room and dining room with a full basement. The eat-in kitchen has new cabinets and new countertops. New flooring has also been updated along with new baseboard heaters. Place this one on your tour for immediate occupancy. This property is being sold in as-is condition. Home inspections will be for buyer's purposes only.

Key facts

• Full basement
• New cabinets
• Dining room

Tags

• FORMAL LIVING ROOM
• DINING ROOM
• FULL BASEMENT
• EAT-IN KITCHEN
• NEW CABINETS
• NEW COUNTERTOPS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Municipal sewer (no septic system)
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Year built estimated
• Construction: Brick construction; Brick/mortar foundation; Other structures above and below grade
• Exterior features: Lot dimensions approximately 21.4 x 55.0; No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating; Natural gas fuel for heating and hot water
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $134k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $130k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 5.6% 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+, schools D, commute D.
• Brandywine School District (suburban): math 28% / reading 40% proficiency, ranked #11 of 26 in DE (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 119 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 40% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k 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 + 5.7% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 31y ago 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.
• Current owner paid $50k; list at $134k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $129,980 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.33% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.12%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (median comp): $121,156
• List price: $134,000
• Delta: 10.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2717 N West St	0.32mi	3/1.0	1,150 (+2%)	2mo	$155,000	$135	80
2412 Lamotte St	0.05mi	3/1.0	1,275 (+13%)	0mo	$125,000	$98	75
2708 Thompson Pl	0.40mi	3/1.0	1,175 (+4%)	1mo	$215,000	$183	73
212 W 25th St	0.29mi	3/1.0	1,225 (+9%)	1mo	$80,000	$65	71
3003 N Tatnall St	0.39mi	2/1.0 (-1)	1,050 (-7%)	1mo	$165,000	$157	65
417 E 35th St	0.68mi	3/1.0	1,150 (+2%)	2mo	$227,000	$197	63
206 W 26th St	0.30mi	3/2.0	1,250 (+11%)	2mo	$228,000	$182	62
3208 N Madison St	0.65mi	3/1.0	1,200 (+7%)	2mo	$274,999	$229	58
1029 Clifford Brown Walk	0.69mi	4/1.5 (+1)	1,175 (+4%)	2mo	$30,000	$26	52
623 W Twenty Eighth St	0.65mi	3/1.5	1,250 (+11%)	0mo	$235,000	$188	49
932 Clifford Brown Walk	0.74mi	3/1.5	1,225 (+9%)	2mo	$175,000	$143	47
1212 N Tatnall St	0.74mi	3/1.0	1,275 (+13%)	0mo	$165,000	$129	43

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.57×
• Total profit: $21,313
• Equity at exit: $19,980

10-year hold

• IRR: 24.5%
• Equity multiple: 3.37×
• Total profit: $89,106
• Equity at exit: $11,586

Cash invested: $37,520 (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 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$703
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $598

Break-even live

Break-even rent $1,024

Max offer price $134,000

Occupancy floor 61%

Sensitivity live

Price	-10% $674	-5% $636	+0% $598	+5% $560	+10% $522
Rent	-10% $457	-5% $527	+0% $598	+5% $668	+10% $738
Rate	-1.0pp $665	-0.5pp $632	base $598	+0.5pp $563	+1.0pp $528

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	44d	1	0.05mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	44d	1	0.12mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	13d	1	0.23mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	0d	1	0.38mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	25d	1	0.41mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	0d	1	0.41mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	44d	1	0.42mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	25d	1	0.42mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	44d	1	0.42mi
312 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	700	$1,295	$1.85	25d	1	0.43mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	25d	1	0.43mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	25d	1	0.48mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	2d	1	0.49mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	44d	1	0.51mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	44d	1	0.51mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	11d	1	0.55mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	13d	1	0.55mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	21d	1	0.56mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	25d	1	0.56mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	44d	1	0.59mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	19d	1	0.59mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	44d	1	0.65mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	25d	1	0.65mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	2d	1	0.66mi
608 W 20th St Wilmington, DE	2.0	1.0	800	$1,400	$1.75	44d	1	0.67mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	19d	1	0.67mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	25d	1	0.68mi
547 Eastlawn Ave Wilmington, DE	3.0	1.0	1400	$1,995	$1.43	44d	1	0.69mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	18d	1	0.72mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	2d	62	0.78mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	0d	1	0.80mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	44d	5	0.81mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	44d	1	0.88mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	0.88mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	45d	1	0.90mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	6d	1	0.91mi
801 N Market St Unit 207 Wilmington, DE	2.0	2.0	1239	$1,895	$1.53	6d	1	0.92mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	0.92mi
839 N Tatnall St Unit 101 Wilmington, DE	2.0	2.0	1211	$1,750	$1.45	6d	1	0.92mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	6d	1	0.92mi

Listing history 33 events

1. 2026-06-18
   days on market $134,000 Active 50 DOM
2. 2026-06-17
   days on market $134,000 Active 49 DOM
3. 2026-06-16
   days on market $134,000 Active 48 DOM
4. 2026-06-15
   days on market $134,000 Active 47 DOM
5. 2026-06-13
   days on market $134,000 Active 45 DOM
6. 2026-06-09
   days on market $134,000 Active 41 DOM
7. 2026-06-08
   days on market $134,000 Active 40 DOM
8. 2026-06-07
   days on market $134,000 Active 39 DOM
9. 2026-06-04
   days on market $134,000 Active 36 DOM
10. 2026-06-03
    remarks 576-char remark
11. 2026-06-03
    pricedays on market $134,000 Active 35 DOM
12. 2026-06-02
    days on market $139,000 Active 34 DOM
13. 2026-06-01
    days on market $139,000 Active 33 DOM
14. 2026-05-31
    days on market $139,000 Active 32 DOM
15. 2026-04-29
    listed $139,000 Active 543-char remark
16. 2025-10-24
    historical
17. 2025-07-27
    price $134,000
18. 2025-07-27
    status Active
19. 2025-06-17
    historical
20. 2025-04-22
    price $142,000
21. 2025-04-20
    listed $136,000 Active
22. 2025-03-31
    historical
23. 2025-02-25
    price $134,000
24. 2025-02-25
    status Active
25. 2025-02-21
    historical
26. 2025-02-05
    price $139,000
27. 2025-01-26
    price $142,000
28. 2025-01-17
    listed $145,000 Active
29. 2022-03-31
    soldstatus $50,000
30. 1996-06-18
    soldstatus $27,500
31. 1996-06-03
    soldstatus $25,000
32. 1996-04-26
    historical
33. 1995-02-26
    listed $25,000

ⓘ 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: $601 · $50/mo
• Projected year-2 tax: $689 · $57/mo
• Expected delta: +$88/yr (+$7/mo · 14.7%)

ⓘ 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 ≥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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,362
• − Mortgage interest: −$7,506
• − Property taxes: −$601
• − Insurance: −$670
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$3,898
• Taxable income: $5,269
• Est. tax owed @ 24.0%: −$1,264
• After-tax cash flow: $5,908/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: Brandywine School District
• NCES district ID: 1001240
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 40% ▼ -13.00%
• Median HH income: $68,743
• Composite: 31.27/100
• National rank: #6019
• State rank: #11 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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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 (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+436.0% since first listed

20 events — show timeline

• 2026-06-03 Price Changed $134,000 BRIGHT MLS
• 2026-04-29 Listed $139,000 BRIGHT MLS
• 2025-10-24 Listing Removed — BRIGHT MLS
• 2025-07-27 Price Changed $134,000 BRIGHT MLS
• 2025-07-27 Relisted — BRIGHT MLS
• 2025-06-17 Listing Removed — BRIGHT MLS
• 2025-04-22 Price Changed $142,000 BRIGHT MLS
• 2025-04-20 Listed $136,000 BRIGHT MLS
• 2025-03-31 Listing Removed — BRIGHT MLS
• 2025-02-25 Price Changed $134,000 BRIGHT MLS
• 2025-02-25 Relisted — BRIGHT MLS
• 2025-02-21 Listing Removed — BRIGHT MLS
• 2025-02-05 Price Changed $139,000 BRIGHT MLS
• 2025-01-26 Price Changed $142,000 BRIGHT MLS
• 2025-01-17 Listed $145,000 BRIGHT MLS
• 2022-03-31 Sold (Public Records) $50,000 Public Records
• 1996-06-18 Sold (Public Records) $27,500 Public Records
• 1996-06-03 Sold (MLS) $25,000 BRIGHT MLS
• 1996-04-26 Listing Removed — BRIGHT MLS
• 1995-02-26 Listed $25,000 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2024): $601 · +10.2% YoY. Source: county tax records.