8545 Garden · Seaford, DE 19973

$230,000

3 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 47 Days on market

Built 1996 7,405 sqft lot $197/sqft · at area comps Est $251k · 8% under

---

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 +20.6/30.0
• ARV discount +11.3/15.0
• DSCR +6.6/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy this 3 bedroom, 1 bath adorable rancher! Home is located minutes away from town amenities! Perfect opportunity for first time buyers and investors! Property being sold as-is/where-is. No warranties implied or expressed.

Key facts

• Several parks
• Playgrounds
• Sports facilities

Tags

• SEVERAL PARKS
• WALKING TRAILS
• PLAYGROUNDS
• SPORTS FACILITIES
• LOCAL AMENITIES
• WELL MAINTAINED ROADS

Property features AI

Exterior

• Parking: Driveway parking with three spaces (total of three garage/parking spaces)
• Utilities: Private water source; Capping fill sewer
• Home design: Manufactured home; Above-grade and below-grade structures present; Estimated year built
• Construction: Frame construction with aluminum siding
• Exterior features: Not located in a federal flood zone; Tidal water not present

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Assessor-reported living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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 $210k (8.7% below list).
• Recommended offer: $210k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.4% in Seaford — 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 (#54 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D, 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: 215 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 47 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $80k; list at $230k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $210,000 (8.7% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (median comp): $251,320
• List price: $230,000
• Delta: -8.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8615 Garden Ln	0.13mi	3/2.0	1,152 (-2%)	23mo	$112,590	$98	68
8552 Garden Ln	0.03mi	3/2.0	1,344 (+15%)	13mo	$144,000	$107	59
22596 Bridgeville Hwy	0.51mi	2/1.0 (-1)	1,040 (-11%)	4mo	$225,000	$216	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-17,771
• Equity at exit: $34,294

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $9,314
• Equity at exit: $19,886

Cash invested: $64,400 (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: 215
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $308

Break-even live

Break-even rent $1,710

Max offer price $230,000

Occupancy floor 80%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23033 Meadow Wood Ct Seaford, DE	1.0–3.0	1.0–2.0	1054	$2,100	$1.99	14d	1	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $230,000 Active 47 DOM
2. 2026-06-17
   days on market $230,000 Active 46 DOM
3. 2026-06-16
   days on market $230,000 Active 45 DOM
4. 2026-06-15
   days on market $230,000 Active 44 DOM
5. 2026-06-13
   days on market $230,000 Active 42 DOM
6. 2026-06-12
   days on market $230,000 Active 41 DOM
7. 2026-06-09
   days on market $230,000 Active 38 DOM
8. 2026-06-08
   days on market $230,000 Active 37 DOM
9. 2026-06-07
   days on market $230,000 Active 36 DOM
10. 2026-06-04
    days on market $230,000 Active 32 DOM
11. 2026-06-02
    days on market $230,000 Active 31 DOM
12. 2026-06-01
    days on market $230,000 Active 30 DOM
13. 2026-05-31
    days on market $230,000 Active 29 DOM
14. 2026-05-31
    days on market $230,000 Active 28 DOM
15. 2026-05-02
    listed $230,000 Active 1859-char remark
16. 2016-04-01
    historical
17. 2016-03-03
    listed $68,000
18. 2015-10-20
    soldstatus $80,000
19. 2015-06-19
    soldstatus $44,750

    Show marketing remark (225 chars)

    Enjoy this 3 bedroom, 1 bath adorable rancher! Home is located minutes away from town amenities! Perfect opportunity for first time buyers and investors! Property being sold as-is/where-is. No warranties implied or expressed.

20. 2015-05-12
    historical

    Show marketing remark (225 chars)

    Enjoy this 3 bedroom, 1 bath adorable rancher! Home is located minutes away from town amenities! Perfect opportunity for first time buyers and investors! Property being sold as-is/where-is. No warranties implied or expressed.

21. 2015-04-23
    listed $45,500

    Show marketing remark (225 chars)

    Enjoy this 3 bedroom, 1 bath adorable rancher! Home is located minutes away from town amenities! Perfect opportunity for first time buyers and investors! Property being sold as-is/where-is. No warranties implied or expressed.

22. 2008-01-10
    historical
23. 2007-11-12
    listed $114,900
24. 2005-04-26
    soldstatus $77,500
25. 2005-03-18
    listed $77,500

ⓘ 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: $589 · $49/mo
• Projected year-2 tax: $961 · $80/mo
• Expected delta: +$373/yr (+$31/mo · 63.3%)

ⓘ 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 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$12,884
• − Property taxes: −$589
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$6,691
• Taxable loss: −$145
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $3,730/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 — Seaford

• Score: 64/100
• State rank: #54
• US rank: #14448

Category grades

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

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

+196.8% since first listed

11 events — show timeline

• 2026-05-02 Listed $230,000 BRIGHT MLS
• 2016-04-01 Listing Removed — BRIGHT MLS
• 2016-03-03 Listed $68,000 BRIGHT MLS
• 2015-10-20 Sold (Public Records) $80,000 Public Records
• 2015-06-19 Sold (MLS) $44,750 BRIGHT MLS
• 2015-05-12 Listing Removed — BRIGHT MLS
• 2015-04-23 Listed $45,500 BRIGHT MLS
• 2008-01-10 Listing Removed — BRIGHT MLS
• 2007-11-12 Listed $114,900 BRIGHT MLS
• 2005-04-26 Sold (MLS) $77,500 BRIGHT MLS
• 2005-03-18 Listed $77,500 BRIGHT MLS

Property tax history

+5.9%/yr

Latest (2025): $589 · +18.3% YoY. Source: county tax records.