2313 Carter St · Wilmington, DE 19802

$145,000

3 bd · 1.0 ba · 1,100 sqft · Townhouse public records · 323 Days on market

Built 1910 1,307 sqft lot $132/sqft · 17% above area Est $124k · 17% 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• Built 1910
• Listed 322 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 $1k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $35k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $145k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.23% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.8

CMA / ARV

• ARV (median comp): $124,241
• List price: $145,000
• Delta: 16.71%
• 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	0.33mi	3/1.0	1,150 (+4%)	2mo	$155,000	$135	76
2708 Thompson Pl	0.41mi	3/1.0	1,175 (+7%)	1mo	$215,000	$183	69
3003 N Tatnall St	0.42mi	2/1.0 (-1)	1,050 (-4%)	1mo	$165,000	$157	68
212 W 25th St	0.28mi	3/1.0	1,225 (+11%)	1mo	$80,000	$65	67
2601 N Heald St	0.44mi	3/1.0	1,022 (-7%)	2mo	$145,000	$142	66
103 W 29th St	0.33mi	3/1.5	1,250 (+14%)	2mo	$150,000	$120	58
417 E 35th St	0.71mi	3/1.0	1,150 (+4%)	2mo	$227,000	$197	58
206 W 26th St	0.29mi	3/2.0	1,250 (+14%)	2mo	$228,000	$182	58
3208 N Madison St	0.66mi	3/1.0	1,200 (+9%)	2mo	$274,999	$229	53
1029 Clifford Brown Walk	0.66mi	4/1.5 (+1)	1,175 (+7%)	2mo	$30,000	$26	49
623 W Twenty Eighth St	0.65mi	3/1.5	1,250 (+14%)	0mo	$235,000	$188	44
932 Clifford Brown Walk	0.72mi	3/1.5	1,225 (+11%)	2mo	$175,000	$143	44

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: 9.4%
• Equity multiple: 1.38×
• Total profit: $15,451
• Equity at exit: $21,620

10-year hold

• IRR: 20.5%
• Equity multiple: 2.94×
• Total profit: $78,728
• Equity at exit: $12,537

Cash invested: $40,600 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$760
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $534

Break-even live

Break-even rent $1,104

Max offer price $145,000

Occupancy floor 65%

Sensitivity live

Price	-10% $616	-5% $575	+0% $534	+5% $493	+10% $452
Rent	-10% $393	-5% $463	+0% $534	+5% $604	+10% $674
Rate	-1.0pp $607	-0.5pp $571	base $534	+0.5pp $496	+1.0pp $458

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: $36,250
• Closing costs: $4,350
• 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	1d	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	1d	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	5d	1	0.91mi
801 N Market St Unit 207 Wilmington, DE	2.0	2.0	1239	$1,895	$1.53	5d	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	5d	1	0.92mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.92mi

Listing history 26 events

1. 2026-06-18
   days on market $145,000 Active 323 DOM
2. 2026-06-17
   days on market $145,000 Active 322 DOM
3. 2026-06-16
   days on market $145,000 Active 321 DOM
4. 2026-06-15
   days on market $145,000 Active 320 DOM
5. 2026-06-13
   days on market $145,000 Active 318 DOM
6. 2026-06-09
   days on market $145,000 Active 314 DOM
7. 2026-06-08
   days on market $145,000 Active 313 DOM
8. 2026-06-07
   days on market $145,000 Active 312 DOM
9. 2026-06-04
   days on market $145,000 Active 309 DOM
10. 2026-06-03
    days on market $145,000 Active 308 DOM
11. 2026-06-02
    days on market $145,000 Active 307 DOM
12. 2026-06-01
    days on market $145,000 Active 306 DOM
13. 2026-05-31
    days on market $145,000 Active 305 DOM
14. 2026-04-28
    price $145,000
15. 2026-02-17
    status Active
16. 2026-02-05
    status Pending
17. 2026-01-09
    price $150,000
18. 2026-01-09
    status Active
19. 2025-12-31
    historical
20. 2025-10-22
    price $160,000
21. 2025-09-10
    price $170,000
22. 2025-07-09
    listed $180,000 Active
23. 2015-12-21
    historical
24. 2014-09-11
    listed $15,000
25. 2005-05-27
    soldstatus $86,000
26. 1982-11-01
    soldstatus $19,500

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $731 · $61/mo
• Expected delta: +$110/yr (+$9/mo · 17.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,361
• − Mortgage interest: −$8,122
• − Property taxes: −$620
• − Insurance: −$725
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$4,218
• Taxable income: $4,258
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $5,383/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

+643.6% since first listed

13 events — show timeline

• 2026-04-28 Price Changed $145,000 BRIGHT MLS
• 2026-02-17 Relisted — BRIGHT MLS
• 2026-02-05 Pending — BRIGHT MLS
• 2026-01-09 Price Changed $150,000 BRIGHT MLS
• 2026-01-09 Relisted — BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-10-22 Price Changed $160,000 BRIGHT MLS
• 2025-09-10 Price Changed $170,000 BRIGHT MLS
• 2025-07-09 Listed $180,000 BRIGHT MLS
• 2015-12-21 Listing Removed — BRIGHT MLS
• 2014-09-11 Listed $15,000 BRIGHT MLS
• 2005-05-27 Sold (Public Records) $86,000 Public Records
• 1982-11-01 Sold (Public Records) $19,500 Public Records

Property tax history

+2.2%/yr

Latest (2024): $620 · +10.2% YoY. Source: county tax records.