107 Festone Ave · New Castle, DE 19720

$290,000

4 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 21 Days on market

Built 1956 Est $311k · 7% under

---

Why this score? — see what drove the D+ 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 +16.0/30.0
• ARV discount +10.6/15.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large master bedroom, family room, Jenn-Air stove, fenced rear yard, carport, 12 x 10 shed all make this ranch a must see for anyone looking for one floor living. Curved lot gives lots of room. OPEN SUNDAY 2/9/03 1:00-4:00

Key facts

• Spacious yard
• Corner lot
• Built 1956

Tags

• CORNER LOT
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/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 $233k (19.6% below list).
• Recommended offer: $233k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.0% in New Castle — 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 72/100 on livability (#13 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: crime F, commute F.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eisenberg (Harry O.) Elementary School (math 8% / reading 22%, grade F, #91 of 105 statewide, top 87%, 399 students, 0% FRL); Mccullough (Calvin R. ) Middle School (math 8% / reading 15%, grade F, #35 of 36 statewide, top 97%, 705 students, 0% FRL); Penn (William) High School (math 16% / reading 30%, grade F, #29 of 40 statewide, top 72%, 2,239 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 37% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $9k 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 21 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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 $120k; list at $290k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,117 (19.6% below list)

Questions for the listing agent

1. Built in 1956 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $311,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
183 Edge Ave	0.24mi	3/1.0 (-1)	1,250 (-2%)	2mo	$308,000	$246	79
10 Midfield Rd	0.49mi	3/1.0 (-1)	1,250 (-2%)	1mo	$305,000	$244	68
139 N Katrin Cir	0.46mi	3/2.5 (-1)	1,250 (-2%)	1mo	$390,000	$312	63
3 S Glen Ave	0.18mi	3/1.0 (-1)	1,450 (+14%)	2mo	$270,500	$187	62
101 Bellanca Ln	0.31mi	3/1.5 (-1)	1,400 (+10%)	2mo	$320,000	$229	61
16 Varmar Dr	0.30mi	3/1.0 (-1)	1,100 (-14%)	0mo	$299,900	$273	58
7 May Ave	0.44mi	3/1.5 (-1)	1,175 (-8%)	2mo	$299,999	$255	58
17 Varmar Dr	0.28mi	3/1.0 (-1)	1,100 (-14%)	2mo	$205,000	$186	58
6 Wardor Ave	0.57mi	4/1.0	1,150 (-10%)	1mo	$195,000	$170	56
7 Onaway Pl	0.54mi	4/2.0	1,400 (+10%)	3mo	$276,000	$197	52
306 Elwood Pl	0.69mi	3/1.0 (-1)	1,200 (-6%)	3mo	$271,000	$226	50
19 Arbutus Ave	0.59mi	3/2.0 (-1)	1,377 (+8%)	1mo	$355,000	$258	50

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-37,912
• Equity at exit: $43,240

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-21,747
• Equity at exit: $25,074

Cash invested: $81,200 (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 19720

• Active inventory: 143
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,331 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $145

Break-even live

Break-even rent $2,148

Max offer price $290,000

Occupancy floor 89%

Sensitivity live

Price	-10% $309	-5% $227	+0% $145	+5% $63	+10% $-19
Rent	-10% $-39	-5% $53	+0% $145	+5% $237	+10% $329
Rate	-1.0pp $291	-0.5pp $219	base $145	+0.5pp $70	+1.0pp $-7

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Arbutus Ave Unit 1 New Castle, DE	3.0	2.0	1600	$2,650	$1.66	20d	1	0.58mi
17 Gene Ave New Castle, DE	3.0	1.5	900	$2,100	$2.33	45d	1	0.59mi
600 Moores Ln New Castle, DE	1.0–3.0	1.0–1.5	800	$2,149	$2.69	0d	7	0.71mi
10 Burton Ave New Castle, DE	3.0	1.0	900	$1,900	$2.11	26d	1	0.77mi
114 Baldt Ave Historic New Castle, DE	3.0	1.5	1300	$2,200	$1.69	5d	1	1.28mi

Listing history 19 events

1. 2026-06-16
   days on market $290,000 Active 21 DOM
2. 2026-06-15
   days on market $290,000 Active 20 DOM
3. 2026-06-13
   days on market $290,000 Active 18 DOM
4. 2026-06-09
   days on market $290,000 Active 14 DOM
5. 2026-06-08
   days on market $290,000 Active 13 DOM
6. 2026-06-07
   days on market $290,000 Active 12 DOM
7. 2026-06-04
   days on market $290,000 Active 9 DOM
8. 2026-06-03
   days on market $290,000 Active 8 DOM
9. 2026-06-02
   days on market $290,000 Active 7 DOM
10. 2026-06-01
    days on market $290,000 Active 6 DOM
11. 2026-05-31
    days on market $290,000 Active 5 DOM
12. 2026-05-26
    listed $290,000 Active
13. 2003-05-01
    soldstatus $119,900
14. 2003-04-30
    soldstatus $119,900 222-char remark

    Show marketing remark (222 chars)

    Large master bedroom, family room, Jenn-Air stove, fenced rear yard, carport, 12 x 10 shed all make this ranch a must see for anyone looking for one floor living. Curved lot gives lots of room. OPEN SUNDAY 2/9/03 1:00-4:00

15. 2003-03-15
    historical 222-char remark

    Show marketing remark (222 chars)

    Large master bedroom, family room, Jenn-Air stove, fenced rear yard, carport, 12 x 10 shed all make this ranch a must see for anyone looking for one floor living. Curved lot gives lots of room. OPEN SUNDAY 2/9/03 1:00-4:00

16. 2002-11-15
    listed $119,900 222-char remark

    Show marketing remark (222 chars)

    Large master bedroom, family room, Jenn-Air stove, fenced rear yard, carport, 12 x 10 shed all make this ranch a must see for anyone looking for one floor living. Curved lot gives lots of room. OPEN SUNDAY 2/9/03 1:00-4:00

17. 2002-09-26
    listed $123,900
18. 2002-09-26
    historical
19. 1986-10-01
    soldstatus $62,900

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $1,171 · $98/mo
• Expected delta: +$511/yr (+$43/mo · 77.4%)

ⓘ 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 ≥102°F today · 15 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: $27,974
• − Mortgage interest: −$16,245
• − Property taxes: −$660
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$8,436
• Taxable loss: −$3,293
• Est. tax savings @ 24.0%: +$790
• After-tax cash flow: $2,530/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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — New Castle

• Score: 72/100
• State rank: #13
• US rank: #5905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• City population: 62,392
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 62,392
• Household income: $75,403
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1852.0

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 0.67)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 1% Swedish 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -261.00%
• Current HPI: 255.0404
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+361.0% since first listed

8 events — show timeline

• 2026-05-26 Listed $290,000 FSBO.com
• 2003-05-01 Sold (Public Records) $119,900 Public Records
• 2003-04-30 Sold (MLS) $119,900 BRIGHT MLS
• 2003-03-15 Listing Removed — BRIGHT MLS
• 2002-11-15 Listed $119,900 BRIGHT MLS
• 2002-09-26 Listing Removed — BRIGHT MLS
• 2002-09-26 Listed $123,900 BRIGHT MLS
• 1986-10-01 Sold (Public Records) $62,900 Public Records

Property tax history

+3.9%/yr

Latest (2024): $660 · +10.9% YoY. Source: county tax records.