308 N Scott St · Wilmington, DE 19805

$139,900

3 bd · 1.0 ba · 725 sqft · Townhouse public records · 20 Days on market

Built 1910 1,307 sqft lot Est $118k · 18% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Rent growth +4.1/5.0
• 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

Listing remarks MLS

Great unit to add to your rental portfolio, 3 bedroom / 1.5 bath, currently occupied to new tenant that wants to stay, monthly rent $1025, tenants very neat and clean, Owner has 2 others for sale as well, 225 S Harrison & 2803 N Jefferson, due to Covid 19, showings on Wed 4-6pm and Sat 11-1pm only, must wear mask / gloves, showing not to exceed 30 minutes

Key facts

• Built 1910
• Listed 19 days

Property features AI

Finance

• Other: Above-grade finished area reported as 725 (source: Assessor)
• HOA & community: Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric available; Cable available; Phone available; Municipal trash service
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Not located in a federal flood zone
• Construction: Brick construction; Stone foundation; Flat roof; Year built source: Assessor
• Exterior features: Sidewalks; Street lights; Pets allowed (cats and dogs okay)

Interior

• Kitchen: Oven (single); Stove; Refrigerator
• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom (on upper level); One half bathroom (on main level)
• Heating & cooling: Radiator heating; Natural gas heating fuel
• Interior features: Plaster walls; 6 total rooms; Basement with outside entrance; Property in good condition; Building not winterized; Property manager present
• Laundry & utility: Hot water provided by natural gas

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $752 ($9k/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: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 167 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 41% of the median local income ($60k/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 + 6.3% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 34y 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 $72k; list at $140k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.46% ✓
• Cap rate: 12.75%
• Cash-on-cash: 23.05%
• DSCR: 2.03
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $118,175
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1710 W 2nd St	0.11mi	3/1.0	675 (-7%)	8mo	$124,000	$184	77
1228 Chestnut St	0.47mi	2/1.0 (-1)	775 (+7%)	10mo	$140,000	$181	53
1412 N Lincoln St	0.73mi	2/1.5 (-1)	700 (-3%)	4mo	$207,000	$296	50
1202 Read St	0.47mi	2/1.0 (-1)	800 (+10%)	9mo	$130,000	$163	49
1214 Pleasant St	0.43mi	2/1.0 (-1)	675 (-7%)	23mo	$100,000	$148	44
707 Warner St	0.65mi	2/1.0 (-1)	700 (-3%)	19mo	$88,000	$126	43
1404 N Lincoln St	0.72mi	2/1.0 (-1)	700 (-3%)	17mo	$190,000	$271	41
1003 Beech St	0.72mi	2/1.0 (-1)	675 (-7%)	11mo	$115,000	$170	41
505 Rodman St	0.45mi	2/1.0 (-1)	800 (+10%)	23mo	$115,000	$144	38
1213 Pleasant St	0.43mi	2/1.0 (-1)	825 (+14%)	20mo	$90,000	$109	36
1120 Beech St	0.69mi	2/1.0 (-1)	825 (+14%)	6mo	$112,500	$136	35
1201 Pleasant St	0.45mi	2/2.0 (-1)	825 (+14%)	22mo	$110,000	$133	29

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.83×
• Total profit: $32,325
• Equity at exit: $20,860

10-year hold

• IRR: 29.9%
• Equity multiple: 4.09×
• Total profit: $120,968
• 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 19805

• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,041 high
• Mortgage (P&I): −$734
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $752

Break-even live

Break-even rent $1,088

Max offer price $139,900

Occupancy floor 58%

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 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	43d	4	0.79mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	1d	9	0.97mi
2700 Boulevard Rd Wilmington, DE	1.0–2.0	1.0	743	$1,525	$2.05	2d	8	1.00mi
1507 Coleman St Wilmington, DE	2.0	1.0	650	$1,495	$2.30	24d	1	1.08mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	1.10mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	43d	1	1.11mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	1.12mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	1d	16	1.16mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	1.18mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	1.22mi
3403 Lancaster Pike Wilmington, DE	1.0–3.0	1.0	916	$1,874	$2.05	1d	4	1.26mi
7 Rockford Rd Wilmington, DE	1.0–2.0	1.0–2.0	700	$1,700	$2.43	11d	2	1.39mi

Listing history 14 events

1. 2026-06-18
   days on market $139,900 Active 20 DOM
2. 2026-06-17
   days on market $139,900 Active 19 DOM
3. 2026-06-16
   days on market $139,900 Active 18 DOM
4. 2026-06-15
   days on market $139,900 Active 17 DOM
5. 2026-06-13
   days on market $139,900 Active 15 DOM
6. 2026-06-13
   days on market $139,900 Active 14 DOM
7. 2026-06-09
   days on market $139,900 Active 11 DOM
8. 2026-06-08
   days on market $139,900 Active 10 DOM
9. 2026-06-07
   days on market $139,900 Active 9 DOM
10. 2026-06-04
    days on market $139,900 Active 6 DOM
11. 2026-06-03
    days on market $139,900 Active 5 DOM
12. 2026-06-02
    days on market $139,900 Active 4 DOM
13. 2026-06-01
    days on market $139,900 Active 3 DOM
14. 2026-05-31
    days on market $139,900 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: $814 · $68/mo
• Projected year-2 tax: $814 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,489
• − Mortgage interest: −$7,837
• − Property taxes: −$814
• − Insurance: −$700
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$4,070
• Taxable income: $7,151
• Est. tax owed @ 24.0%: −$1,716
• After-tax cash flow: $7,313/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 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): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+367.9% since first listed

16 events — show timeline

• 2026-05-30 Listed $139,900 BRIGHT MLS
• 2026-05-29 Coming Soon $139,900 BRIGHT MLS
• 2021-04-22 Sold (Public Records) $72,500 Public Records
• 2021-04-09 Sold (MLS) $72,500 BRIGHT MLS
• 2021-03-24 Pending — BRIGHT MLS
• 2021-02-24 Relisted — BRIGHT MLS
• 2021-01-27 Listing Removed — BRIGHT MLS
• 2021-01-06 Listed $79,900 BRIGHT MLS
• 2006-03-31 Listing Removed — BRIGHT MLS
• 2005-09-13 Listed $105,000 BRIGHT MLS
• 2004-06-29 Sold (Public Records) $59,000 Public Records
• 1992-11-02 Sold (Public Records) $58,900 Public Records
• 1992-08-22 Sold (MLS) $58,900 BRIGHT MLS
• 1992-05-14 Listed $58,900 BRIGHT MLS
• 1986-05-01 Sold (Public Records) $41,900 Public Records
• 1985-09-01 Sold (Public Records) $29,900 Public Records

Property tax history

+3.7%/yr

Latest (2024): $814 · +15.1% YoY. Source: county tax records.