8724 Roosevelt St · Blades, DE 19973

$184,900

4 bd · 1.0 ba · 832 sqft · SingleFamily · 14 Days on market

Built 1960 0.33 ac lot ↓ 16% since listing

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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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.4/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.33 acre lot
• 5 garage spots
• Built 1960

Property features AI

Exterior

• Parking: Detached oversized garage with 5 garage spaces; Driveway parking; On-street and off-street parking available
• Utilities: Well water; On-site septic
• Home design: Detached single-family home; Ownership is fee simple
• Construction: Vinyl siding; Crawl space foundation; Above-grade finished area recorded by assessor
• Exterior features: Lot dimensions approximately 60 x 213; Not in a federal flood zone; Other structures noted above and below grade

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (oil); Window air conditioning units (electric); Hot water via natural gas
• Interior features: No basement; Living area recorded by assessor

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/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 $173k (6.3% below list).
• Recommended offer: $173k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.4% in Blades — 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 67/100 on livability (#37 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, crime F.
• Seaford School District (suburban): math 25% / reading 40% proficiency, ranked #15 of 26 in DE (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 216 active listings in the ZIP; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $173,216 (6.3% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-12,727
• Equity at exit: $27,569

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $10,873
• Equity at exit: $15,987

Cash invested: $51,772 (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 19973

• Home prices YoY: -17.8%
• Active inventory: 216
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $272

Break-even live

Break-even rent $1,388

Max offer price $184,900

Occupancy floor 79%

Sensitivity live

Price	-10% $377	-5% $324	+0% $272	+5% $220	+10% $167
Rent	-10% $135	-5% $204	+0% $272	+5% $340	+10% $409
Rate	-1.0pp $365	-0.5pp $319	base $272	+0.5pp $224	+1.0pp $175

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $184,900 Active 14 DOM
2. 2026-06-18
   days on market $184,900 Active 12 DOM
3. 2026-06-17
   days on market $184,900 Active 11 DOM
4. 2026-06-16
   days on market $184,900 Active 10 DOM
5. 2026-06-15
   days on market $184,900 Active 9 DOM
6. 2026-06-13
   days on market $184,900 Active 7 DOM
7. 2026-06-12
   days on market $184,900 Active 6 DOM
8. 2026-06-09
   days on market $184,900 Active 3 DOM
9. 2026-06-09
   listed $184,900 Active 2 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: $597 · $50/mo
• Projected year-2 tax: $835 · $70/mo
• Expected delta: +$237/yr (+$20/mo · 39.7%)

ⓘ 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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,786
• − Mortgage interest: −$10,357
• − Property taxes: −$597
• − Insurance: −$924
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$5,379
• Taxable income: $202
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $3,215/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: Seaford School District
• NCES district ID: 1001530
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $48,427
• Composite: 28.07/100
• National rank: #6835
• State rank: #15 of 26 in DE

Livability — Blades

• Score: 67/100
• State rank: #37
• US rank: #10492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 25,786

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 20% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% Vietnamese 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.40%
• Current HPI: 288.5652
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.9% since first listed

8 events — show timeline

• 2026-06-08 Relisted — BRIGHT MLS
• 2026-06-06 Listing Removed — BRIGHT MLS
• 2026-06-04 Listed $184,900 BRIGHT MLS
• 2026-01-14 Listing Removed — BRIGHT MLS
• 2026-01-12 Price Changed $205,000 BRIGHT MLS
• 2026-01-12 Relisted — BRIGHT MLS
• 2025-12-21 Contingent — BRIGHT MLS
• 2025-12-16 Listed $219,900 BRIGHT MLS

Property tax history

+6.1%/yr

Latest (2025): $597 · +51.1% YoY. Source: county tax records.