104 Lavender Dr #10 · Riverview, DE 19962

$177,500

2 bd · 2.0 ba · 1,750 sqft · SingleFamily · 219 Days on market

Built 2006 Good condition $101/sqft · 5% below area Est $187k · 5% under ↓ 4% since listing

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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 +19.1/30.0
• ARV discount +9.8/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained Campanula Model in the desirable community of Southern Meadow! Ideally situated just steps from the community clubhouse, this charming home offers two spacious bedrooms and a versatile den, perfect for an extra-living area, hobby space, or cozy man cave. Southern Meadow residents enjoy a wealth of amenities, including a sparkling pool, clubhouse, walking paths, garden plots, and stocked fishing ponds-all included in the monthly lot lease. The current market rate of $732.00 per month covers access to these amenities along with sewer service, trash and recycling, snow removal, and lawn care, making maintenance easy and stress-free. The community also offers a 15-year lot lease option that locks in annual rent increases at just 3.5%, providing homeowners with long-term predictability and peace of mind. Unlike many communities that raise lot rent by 5% or by the State of Delaware’s approved annual rate, this option allows residents to know exactly what their lot rent will be each year for many years to come, making future expenses easier to plan and budget. Come experience the comfort, convenience, and community that Southern Meadow has to offer!

Key facts

• Community clubhouse
• Acacia model
• Walking paths

Tags

• ACACIA MODEL
• COMMUNITY CLUBHOUSE
• WALKING PATHS
• GARDEN PLOTS
• STOCKED FISHING PONDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $178k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• Recommended offer: $156k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.1% in Riverview — 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 63/100 on livability (#56 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D-, amenities F, commute F.
• Caesar Rodney School District (suburban): math 26% / reading 49% proficiency, ranked #9 of 26 in DE (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

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.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($156k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.01% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $186,950
• List price: $177,500
• Delta: -5.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Begonia Ln #86	0.07mi	2/2.0	1,720 (-2%)	1mo	$186,400	$108	93
112 Lavender Ln	0.04mi	2/2.0	1,740 (-1%)	6mo	$190,000	$109	92
192 Daffodil Dr #36	0.10mi	2/2.0	1,720 (-2%)	5mo	$187,500	$109	88
113 Begonia Ln	0.06mi	2/2.0	1,763 (+1%)	23mo	$185,000	$105	77
148 Daffodil Dr #148	0.10mi	3/2.0 (+1)	1,568 (-10%)	0mo	$130,000	$83	73
148 Bluebell Dr #75	0.08mi	2/2.0	1,941 (+11%)	14mo	$211,000	$109	66
113 Carnation Dr #60	0.15mi	3/2.0 (+1)	1,568 (-10%)	15mo	$133,000	$85	58
197 Daffodil Dr	0.12mi	2/2.0	1,514 (-14%)	22mo	$185,000	$122	54
200 Lexington Mill Rd	0.62mi	3/2.0 (+1)	1,680 (-4%)	10mo	$371,160	$221	51
3721 Irish Hill Rd	0.45mi	3/2.0 (+1)	1,920 (+10%)	13mo	$369,500	$192	47
922 Woodlytown Rd	0.69mi	3/2.0 (+1)	1,503 (-14%)	19mo	$380,000	$253	23

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-16,823
• Equity at exit: $26,466

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $800
• Equity at exit: $15,347

Cash invested: $49,700 (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 19962

• Home prices YoY: -29.4%
• Active inventory: 125
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,790 medium
• Mortgage (P&I): −$931
• Tax est. 1.5%: −$222 /mo · $2,662/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $187

Break-even live

Break-even rent $1,553

Max offer price $177,500

Occupancy floor 85%

Sensitivity live

Price	-10% $310	-5% $248	+0% $187	+5% $126	+10% $64
Rent	-10% $46	-5% $116	+0% $187	+5% $258	+10% $328
Rate	-1.0pp $276	-0.5pp $232	base $187	+0.5pp $141	+1.0pp $94

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $177,500 Active 219 DOM
2. 2026-06-18
   days on market $177,500 Active 218 DOM
3. 2026-06-17
   days on market $177,500 Active 217 DOM
4. 2026-06-16
   days on market $177,500 Active 216 DOM
5. 2026-06-15
   days on market $177,500 Active 215 DOM
6. 2026-06-14
   days on market $177,500 Active 213 DOM
7. 2026-06-13
   days on market $177,500 Active 212 DOM
8. 2026-06-10
   days on market $177,500 Active 210 DOM
9. 2026-06-09
   days on market $177,500 Active 209 DOM
10. 2026-06-08
    days on market $177,500 Active 208 DOM
11. 2026-06-07
    days on market $177,500 Active 207 DOM
12. 2026-06-02
    days on market $177,500 Active 202 DOM
13. 2026-05-30
    days on market $177,500 Active 201 DOM
14. 2026-05-18
    price $177,500 1205-char remark

    Show marketing remark (1205 chars)

    Welcome to this beautifully maintained Campanula Model in the desirable community of Southern Meadow! Ideally situated just steps from the community clubhouse, this charming home offers two spacious bedrooms and a versatile den, perfect for an extra-living area, hobby space, or cozy man cave. Southern Meadow residents enjoy a wealth of amenities, including a sparkling pool, clubhouse, walking paths, garden plots, and stocked fishing ponds-all included in the monthly lot lease. The current market rate of $732.00 per month covers access to these amenities along with sewer service, trash and recycling, snow removal, and lawn care, making maintenance easy and stress-free. The community also offers a 15-year lot lease option that locks in annual rent increases at just 3.5%, providing homeowners with long-term predictability and peace of mind. Unlike many communities that raise lot rent by 5% or by the State of Delaware’s approved annual rate, this option allows residents to know exactly what their lot rent will be each year for many years to come, making future expenses easier to plan and budget. Come experience the comfort, convenience, and community that Southern Meadow has to offer!

15. 2026-03-05
    price $182,500 1205-char remark

    Show marketing remark (1205 chars)

    Welcome to this beautifully maintained Campanula Model in the desirable community of Southern Meadow! Ideally situated just steps from the community clubhouse, this charming home offers two spacious bedrooms and a versatile den, perfect for an extra-living area, hobby space, or cozy man cave. Southern Meadow residents enjoy a wealth of amenities, including a sparkling pool, clubhouse, walking paths, garden plots, and stocked fishing ponds-all included in the monthly lot lease. The current market rate of $732.00 per month covers access to these amenities along with sewer service, trash and recycling, snow removal, and lawn care, making maintenance easy and stress-free. The community also offers a 15-year lot lease option that locks in annual rent increases at just 3.5%, providing homeowners with long-term predictability and peace of mind. Unlike many communities that raise lot rent by 5% or by the State of Delaware’s approved annual rate, this option allows residents to know exactly what their lot rent will be each year for many years to come, making future expenses easier to plan and budget. Come experience the comfort, convenience, and community that Southern Meadow has to offer!

16. 2025-11-10
    listed $185,000 Active 1205-char remark

    Show marketing remark (1205 chars)

    Welcome to this beautifully maintained Campanula Model in the desirable community of Southern Meadow! Ideally situated just steps from the community clubhouse, this charming home offers two spacious bedrooms and a versatile den, perfect for an extra-living area, hobby space, or cozy man cave. Southern Meadow residents enjoy a wealth of amenities, including a sparkling pool, clubhouse, walking paths, garden plots, and stocked fishing ponds-all included in the monthly lot lease. The current market rate of $732.00 per month covers access to these amenities along with sewer service, trash and recycling, snow removal, and lawn care, making maintenance easy and stress-free. The community also offers a 15-year lot lease option that locks in annual rent increases at just 3.5%, providing homeowners with long-term predictability and peace of mind. Unlike many communities that raise lot rent by 5% or by the State of Delaware’s approved annual rate, this option allows residents to know exactly what their lot rent will be each year for many years to come, making future expenses easier to plan and budget. Come experience the comfort, convenience, and community that Southern Meadow has to offer!

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,474
• − Mortgage interest: −$9,943
• − Property taxes: −$2,662
• − Insurance: −$888
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$5,164
• Taxable loss: −$618
• Est. tax savings @ 24.0%: +$148
• After-tax cash flow: $2,393/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 · 1 photo

Good 75/100 Cosmetic rehab

This single-family home in Southern Meadow is in good condition with no major repairs needed. It offers a good return on investment with updates to exterior and interior trim to enhance curb appeal and interior aesthetics.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value
• Both Paint interior trim — Enhances interior appearance and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value ↑
• Both Paint interior trim — Enhances interior appearance and can 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: Caesar Rodney School District
• NCES district ID: 1000180
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 49% ▼ -14.00%
• Median HH income: $61,187
• Composite: 33.4/100
• National rank: #5475
• State rank: #9 of 26 in DE

Livability — Riverview

• Score: 63/100
• State rank: #56
• US rank: #15147

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,618

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 23% Two or more races 10% Hispanic / Latino 6% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Swiss 4% Italian 3% Iranian 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.63%
• Current HPI: 186.7318
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.1% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $177,500 BRIGHT MLS
• 2026-03-05 Price Changed $182,500 BRIGHT MLS
• 2025-11-10 Listed $185,000 BRIGHT MLS