Single Family on E 29th St · Wilmington, DE 19802

$139,900

3 bd · 1.0 ba · 1,175 sqft · Townhouse · 114 Days on market

Built 1917 Poor condition 2,614 sqft lot $119/sqft · 33% below area Est $208k · 33% under

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Why this score? — see what drove the B 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Shell/rehab investor opportunity in Wilmington! This 3 bed/1bath property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

Key facts

• New plumbing
• New hvac
• New electrical

Tags

• NEW ROOF
• NEW WINDOWS
• NEW HVAC
• NEW ELECTRICAL
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $140k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 24d 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 $967 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 $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: built in 1917 — 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 $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1917 — 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 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?
7. 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?
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: 1.28% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.88%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $207,919
• List price: $139,900
• Delta: -32.71%
• Verdict: UNDERPRICED
• 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	0.21mi	3/1.0	1,150 (-2%)	2mo	$155,000	$135	85
2708 Thompson Pl	0.31mi	3/1.0	1,175 (0%)	1mo	$215,000	$183	85
103 W 29th St	0.13mi	3/1.5	1,250 (+6%)	2mo	$150,000	$120	80
212 W 25th St	0.32mi	3/1.0	1,225 (+4%)	1mo	$80,000	$65	77
2412 Lamotte St	0.23mi	3/1.0	1,275 (+8%)	0mo	$125,000	$98	75
3208 N Madison St	0.45mi	3/1.0	1,200 (+2%)	2mo	$274,999	$229	74
417 E 35th St	0.48mi	3/1.0	1,150 (-2%)	2mo	$227,000	$197	72
206 W 26th St	0.27mi	3/2.0	1,250 (+6%)	2mo	$228,000	$182	71
3003 N Tatnall St	0.17mi	2/1.0 (-1)	1,050 (-11%)	1mo	$165,000	$157	69
623 W Twenty Eighth St	0.55mi	3/1.5	1,250 (+6%)	0mo	$235,000	$188	62
2601 N Heald St	0.42mi	3/1.0	1,022 (-13%)	2mo	$145,000	$142	57
11 E 42nd St	0.74mi	3/1.5	1,075 (-8%)	1mo	$252,500	$235	48

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: 7.1%
• Equity multiple: 1.29×
• Total profit: $11,267
• Equity at exit: $20,860

10-year hold

• IRR: 18.7%
• Equity multiple: 2.76×
• Total profit: $69,002
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,797 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $453

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 70%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	12d	1	0.14mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	43d	1	0.23mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	24d	1	0.24mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	43d	1	0.25mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	1d	1	0.29mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	43d	1	0.30mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	43d	1	0.34mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.42mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	24d	1	0.45mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	43d	1	0.45mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	24d	1	0.45mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	43d	1	0.47mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	24d	1	0.47mi
312 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	700	$1,295	$1.85	24d	1	0.48mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	24d	1	0.48mi
547 Eastlawn Ave Wilmington, DE	3.0	1.0	1400	$1,995	$1.43	43d	1	0.52mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.58mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	43d	1	0.64mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	0.64mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	12d	1	0.64mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	0.72mi
608 W 20th St Wilmington, DE	2.0	1.0	800	$1,400	$1.75	43d	1	0.73mi
3408 Miller Rd Wilmington, DE	1.0–2.0	1.0–2.0	889	$1,775	$2.00	5d	6	0.80mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	20d	1	0.82mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	18d	1	0.84mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	43d	1	0.85mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	43d	1	0.88mi
608 W Lea Blvd Wilmington, DE	1.0–2.0	1.0	825	$1,500	$1.82	43d	1	0.89mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.91mi
2 Colony Blvd Wilmington, DE	1.0–2.0	1.0–2.0	1112	$2,500	$2.25	1d	6	0.91mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	0.92mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	0.94mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	0.97mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	1.03mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	1d	1	1.05mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	1.06mi
310 Shipley Rd Wilmington, DE	2.0	2.0	1010	$1,722	$1.71	1d	2	1.13mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	1d	16	1.14mi
201 Philadelphia Pike Unit 216 Wilmington, DE	2.0	1.0	850	$1,400	$1.65	43d	1	1.14mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	1.15mi

Listing history 16 events

1. 2026-06-18
   days on market $139,900 Active 114 DOM
2. 2026-06-17
   days on market $139,900 Active 113 DOM
3. 2026-06-16
   days on market $139,900 Active 112 DOM
4. 2026-06-15
   days on market $139,900 Active 111 DOM
5. 2026-06-13
   days on market $139,900 Active 109 DOM
6. 2026-06-09
   days on market $139,900 Active 105 DOM
7. 2026-06-08
   days on market $139,900 Active 104 DOM
8. 2026-06-07
   days on market $139,900 Active 103 DOM
9. 2026-06-04
   days on market $139,900 Active 100 DOM
10. 2026-06-03
    days on market $139,900 Active 99 DOM
11. 2026-06-02
    days on market $139,900 Active 98 DOM
12. 2026-06-01
    days on market $139,900 Active 97 DOM
13. 2026-05-31
    days on market $139,900 Active 96 DOM
14. 2026-02-24
    status Active 334-char remark

    Show marketing remark (334 chars)

    Shell/rehab investor opportunity in Wilmington! This 3 bed/1bath property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

15. 2026-02-20
    listed $139,900 Active 334-char remark

    Show marketing remark (334 chars)

    Shell/rehab investor opportunity in Wilmington! This 3 bed/1bath property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

16. 2026-02-20
    historical 334-char remark

    Show marketing remark (334 chars)

    Shell/rehab investor opportunity in Wilmington! This 3 bed/1bath property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $21,568
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$4,070
• Taxable income: $3,413
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $4,618/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including new framing, drywall, flooring, windows, HVAC, and exterior siding. A comprehensive renovation would significantly increase both resale and rental value.

Repairs flagged

• Major framing — Exposed framing throughout
• Major roof — Exposed beams, no shingles
• Major exterior — Exposed framing, no siding
• Major flooring — Exposed framing, no flooring
• Major interior walls — Exposed framing, no drywall
• Major windows — Exposed framing, no windows
• Major foundation — Exposed framing, no foundation
• Major HVAC — Exposed framing, no HVAC

Value-add opportunities

• Both Complete renovation including new framing, drywall, flooring, windows, HVAC, and exterior siding — Comprehensive renovation would significantly increase both resale and rental value
• Both New roof and waterproofing — New roof and waterproofing would protect the structure and increase both resale and rental value
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
framing · Exposed framing throughout	Major	$15,000–50,000
roof · Exposed beams, no shingles	Major	$15,000–50,000
exterior · Exposed framing, no siding	Major	$15,000–50,000
flooring · Exposed framing, no flooring	Major	$15,000–50,000
interior walls · Exposed framing, no drywall	Major	$15,000–50,000
windows · Exposed framing, no windows	Major	$15,000–50,000
foundation · Exposed framing, no foundation	Major	$15,000–50,000
HVAC · Exposed framing, no HVAC	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both Complete renovation including new framing, drywall, flooring, windows, HVAC, and exterior siding — Comprehensive renovation would significantly increase both resale and rental value ↑
• Both New roof and waterproofing — New roof and waterproofing would protect the structure and increase both resale and rental value ↑
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's appeal and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

3 events — show timeline

• 2026-02-24 Relisted — BRIGHT MLS
• 2026-02-20 Listing Removed — BRIGHT MLS
• 2026-02-20 Listed $139,900 BRIGHT MLS