928 Kirkwood St · Wilmington, DE 19801

$180,000

3 bd · 1.0 ba · 1,150 sqft · Townhouse public records · 15 Days on market

Built 1890 871 sqft lot Est $155k · 16% 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 +25.3/30.0
• DSCR +8.4/10.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, completely renovated 3BR/1.5BA Brick Rowhome featuring modern bathrooms, updated flooring on the main level, recessed lighting, and ceiling fans. First floor laundry room with brand new washer and dryer. Kitchen includes stainless steel appliances, granite countertops, French door refrigerator, dishwasher, and ample cabinet space. Central air. Concrete fenced in backyard. Ideally located close to major highways and downtown Wilmington, this home is a must see. May qualify for an additional grant from The City of Wilmington to be used toward closing costs; please verify with your local lender. WELCOME HOME!!!

Key facts

• Ceiling fans
• Updated flooring
• Recessed lighting

Tags

• COMPLETELY RENOVATED
• MODERN BATHROOMS
• UPDATED FLOORING
• RECESSED LIGHTING
• CEILING FANS
• FIRST FLOOR LAUNDRY ROOM

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Estimated year built with major remodel in 2024
• Construction: Brick construction; Concrete perimeter foundation; Unfinished basement
• Exterior features: Not in a federal flood zone; Ground rent paid annually

Interior

• Bedrooms: 3 bedrooms on the first upper level
• Flooring: Carpet; Luxury vinyl plank; Tile/brick
• Bathrooms: 1 full bathroom (all upper levels); 1 half bathroom on main level
• Heating & cooling: 90% efficiency forced air heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: Open floor plan; Upgraded countertops; Ceiling fans
• Laundry & utility: Washer and dryer in unit (main floor)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 43% of the median local income ($53k/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 $5k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 33y 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 $10k; list at $180k implies a 1795% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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?
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: 1.05% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $155,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
834 N Pine St	0.08mi	3/1.5	1,150 (0%)	0mo	$150,000	$130	94
524 Taylor St	0.12mi	2/1.0 (-1)	1,125 (-2%)	1mo	$110,000	$98	85
1004 N Pine	0.06mi	3/1.5	1,100 (-4%)	4mo	$170,000	$155	85
1007 N Spruce St	0.06mi	3/1.5	1,075 (-6%)	3mo	$145,000	$135	82
1029 Clifford Brown Walk	0.20mi	4/1.5 (+1)	1,175 (+2%)	2mo	$30,000	$26	79
932 Clifford Brown Walk	0.17mi	3/1.5	1,225 (+6%)	2mo	$175,000	$143	78
1124 Clifford Brown Walk	0.22mi	3/1.0	1,236 (+8%)	4mo	$125,000	$101	74
2203 N Pine St	0.61mi	3/1.5	1,200 (+4%)	3mo	$188,000	$157	60
2230 Lamotte St	0.69mi	3/1.5	1,125 (-2%)	3mo	$135,000	$120	60
2111 N Locust St	0.56mi	3/1.5	1,075 (-6%)	3mo	$175,600	$163	59
1212 N Tatnall St	0.57mi	3/1.0	1,275 (+11%)	0mo	$165,000	$129	55
1224 Tatnall St	0.58mi	2/1.0 (-1)	1,275 (+11%)	3mo	$252,500	$198	47

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.89×
• Total profit: $-5,708
• Equity at exit: $26,839

10-year hold

• IRR: 5.1%
• Equity multiple: 1.36×
• Total profit: $17,901
• Equity at exit: $15,563

Cash invested: $50,400 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$944
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $411

Break-even live

Break-even rent $1,369

Max offer price $180,000

Occupancy floor 73%

Sensitivity live

Price	-10% $513	-5% $462	+0% $411	+5% $360	+10% $309
Rent	-10% $262	-5% $336	+0% $411	+5% $486	+10% $560
Rate	-1.0pp $502	-0.5pp $457	base $411	+0.5pp $364	+1.0pp $317

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	18d	1	0.03mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	1d	1	0.06mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	19d	1	0.07mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	0.08mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.10mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	21d	1	0.20mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	44d	1	0.24mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	44d	5	0.45mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	19d	1	0.46mi
801 N Market St Unit 207 Wilmington, DE	2.0	2.0	1239	$1,895	$1.53	5d	1	0.47mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.48mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	2d	16	0.50mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	0.52mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	0.54mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	44d	1	0.54mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	0.56mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	0.56mi
839 N Tatnall St Unit 101 Wilmington, DE	2.0	2.0	1211	$1,750	$1.45	5d	1	0.58mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.58mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	44d	1	0.59mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	44d	1	0.65mi
401 A St Wilmington, DE	2.0	1.0–2.0	716	$2,605	$3.64	1d	13	0.76mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	44d	1	0.79mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	44d	1	0.79mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	0.79mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	44d	1	0.79mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	44d	1	0.80mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	1d	13	0.81mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.81mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	44d	1	0.82mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	10d	1	0.85mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	17d	1	0.85mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.86mi
105 Christina Landing Dr #1105 Wilmington, DE	2.0	2.0	1150	$2,500	$2.17	44d	1	0.86mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	17d	1	0.90mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	13d	1	0.91mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	44d	1	0.93mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	44d	1	0.98mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	24d	1	0.99mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	24d	1	1.00mi

Listing history 11 events

1. 2026-06-18
   days on market $180,000 Active 15 DOM
2. 2026-06-17
   days on market $180,000 Active 14 DOM
3. 2026-06-16
   days on market $180,000 Active 13 DOM
4. 2026-06-15
   days on market $180,000 Active 12 DOM
5. 2026-06-13
   days on market $180,000 Active 10 DOM
6. 2026-06-13
   days on market $180,000 Active 9 DOM
7. 2026-06-09
   days on market $180,000 Active 6 DOM
8. 2026-06-08
   days on market $180,000 Active 5 DOM
9. 2026-06-07
   days on market $180,000 Active 4 DOM
10. 2026-06-04
    remarks 626-char remark
11. 2026-06-04
    listed $180,000 Active 1 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: $748 · $62/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$148/yr (+$12/mo · 19.8%)

ⓘ 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,667
• − Mortgage interest: −$10,083
• − Property taxes: −$748
• − Insurance: −$900
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$5,236
• Taxable income: $2,073
• Est. tax owed @ 24.0%: −$498
• After-tax cash flow: $4,434/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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 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): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+1794.7% since first listed

13 events — show timeline

• 2026-06-03 Listed $180,000 BRIGHT MLS
• 2026-04-09 Listed for Rent $1,700 BRIGHTMLS
• 2026-01-17 Listing Removed — BRIGHT MLS
• 2026-01-14 Price Changed $185,000 BRIGHT MLS
• 2025-11-04 Listed $199,999 BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-08-02 Listed $210,000 BRIGHT MLS
• 2025-07-31 Listing Removed — BRIGHT MLS
• 2025-04-30 Listed $210,000 BRIGHT MLS
• 2025-03-28 Coming Soon — BRIGHT MLS
• 1995-09-30 Listing Removed — BRIGHT MLS
• 1993-07-21 Listed $29,900 BRIGHT MLS
• 1984-12-01 Sold (Public Records) $9,500 Public Records

Property tax history

+3.9%/yr

Latest (2024): $748 · +2.6% YoY. Source: county tax records.