909 10th Ave #713 · Pike Creek Valley, DE 19808

$132,000

3 bd · 2.0 ba · 1,856 sqft · SingleFamily · 49 Days on market

Built 2016 Good condition $71/sqft · 26% above area Est $105k · 26% over $1/mo HOA ↓ 12% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained 2016 Eagle model double-wide mobile home, offering comfort, space, and a peaceful setting. This one-owner home features 3 generously sized bedrooms and 2 full bathrooms, all in like-new condition. Step inside to an inviting eat-in kitchen, perfect for casual meals and everyday living. The spacious layout flows seamlessly into the living area, where a cozy propane fireplace creates a warm and welcoming atmosphere. A bright sunroom addition provides the ideal spot to relax, entertain, or enjoy your morning coffee while taking in the serene surroundings. Situated in a quiet, tranquil area of the community, this home offers both privacy and convenience. Wi

Key facts

• 2 parking spots
• Built 2016
• Listed 48 days

Property features AI

Finance

• Other: Property manager present
• Financial info: Land lease (ground rent) in place; Annual ground rent listed among income/expense items
• HOA & community: Annual community fee of $15

Exterior

• Parking: Driveway parking (2 spaces); Two total garage and parking spaces
• Utilities: Public water; Public sewer; 60+ gallon hot water tank; Municipal trash not provided
• Home design: Manufactured property; Double wide (approximately 28 ft by 60 ft); Architectural shingle roof
• Construction: Mixed construction with modular/manufactured components; Estimated year built
• Exterior features: Located in Murray Manor II; Ground rent exists with a monthly land lease of $1,031 (100 years remaining); Outside city limits; No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning (electric)
• Interior features: Estimated living area; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $132k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $128k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 4.7% in Pike Creek Valley — 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 69/100 on livability (#26 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living B+; Watch: amenities F, commute F, health & safety 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 (+2.0%/yr); 126 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 31% of the median local income ($94k/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 $913 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 + 2.0% rent growth), your $37k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $128,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.87% ✓
• Cap rate: 15.69%
• Cash-on-cash: 33.57%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (median comp): $104,508
• List price: $132,000
• Delta: 26.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Joyce Dr	0.07mi	2/2.0 (-1)	1,696 (-9%)	1mo	$125,000	$74	76
2107 Othoson Ave	0.27mi	3/4.0	1,850 (-0%)	7mo	$489,000	$264	73
1909 E Zabenko Dr	0.32mi	3/2.5	1,699 (-8%)	0mo	$427,000	$251	69
53 Marta Dr	0.55mi	3/1.5	1,925 (+4%)	0mo	$399,900	$208	66
2270 Saint James Dr	0.58mi	3/1.5	1,875 (+1%)	7mo	$360,000	$192	63
1917 W Zabenko Dr	0.43mi	3/1.5	1,975 (+6%)	7mo	$330,000	$167	61
2002 Cunningham Rd	0.59mi	4/2.5 (+1)	1,875 (+1%)	5mo	$494,000	$263	60
335 Nicholas Ct	0.56mi	3/2.5	2,000 (+8%)	2mo	$450,000	$225	57
10 Alcott Dr	0.59mi	4/1.5 (+1)	2,000 (+8%)	6mo	$430,000	$215	47
2603 Heritage Farm Dr	0.68mi	4/— (+1)	2,025 (+9%)	3mo	$450,000	$222	46
24 Marta Dr	0.49mi	4/3.0 (+1)	1,675 (-10%)	7mo	$430,000	$257	46
4803 Paulson Dr	0.73mi	3/2.5	1,675 (-10%)	5mo	$250,000	$149	43

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 · 2.02% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.14×
• Total profit: $42,090
• Equity at exit: $19,682

10-year hold

• IRR: 34.7%
• Equity multiple: 4.03×
• Total profit: $111,913
• Equity at exit: $11,413

Cash invested: $36,960 (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 19808

• Rents YoY: 2.0%
• Active inventory: 126
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,465 high
• Mortgage (P&I): −$692
• Tax est. 1.5%: −$165 /mo · $1,980/yr
• Insurance: −$55
• HOA: −$1
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $1,034

Break-even live

Break-even rent $1,156

Max offer price $132,000

Occupancy floor 53%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1916 E Zabenko Dr Wilmington, DE	3.0	1.5	1975	$2,450	$1.24	24d	1	0.41mi
1921 W Zabenko Dr Wilmington, DE	3.0	1.5	2000	$2,500	$1.25	44d	1	0.44mi
117 Larkspur Rd Newark, DE	4.0	2.5	2050	$2,800	$1.37	17d	1	0.89mi
635 Stanton Christiana Rd Newark, DE	4.0	2.0	1675	$2,300	$1.37	15d	1	1.06mi
229 E Green Valley Cir Newark, DE	2.0	1.5	1250	$2,050	$1.64	1d	1	1.15mi

HOA detail

• Monthly dues: $1 · $12/yr

Listing history 17 events

1. 2026-06-18
   days on market $132,000 Active 49 DOM
2. 2026-06-17
   days on market $132,000 Active 48 DOM
3. 2026-06-16
   days on market $132,000 Active 47 DOM
4. 2026-06-15
   days on market $132,000 Active 46 DOM
5. 2026-06-13
   days on market $132,000 Active 44 DOM
6. 2026-06-13
   days on market $132,000 Active 43 DOM
7. 2026-06-09
   days on market $132,000 Active 40 DOM
8. 2026-06-08
   days on market $132,000 Active 39 DOM
9. 2026-06-07
   days on market $132,000 Active 38 DOM
10. 2026-06-04
    days on market $132,000 Active 35 DOM
11. 2026-06-03
    days on market $132,000 Active 34 DOM
12. 2026-06-02
    days on market $132,000 Active 33 DOM
13. 2026-06-01
    days on market $132,000 Active 32 DOM
14. 2026-05-31
    days on market $132,000 Active 31 DOM
15. 2026-05-06
    price $132,000 906-char remark
16. 2026-05-01
    listed $150,000 Active 906-char remark
17. 2026-04-27
    historical $150,000 906-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,576
• − Mortgage interest: −$7,394
• − Property taxes: −$1,980
• − Insurance: −$660
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − HOA: −$12
• − Depreciation: −$3,840
• Taxable income: $10,958
• Est. tax owed @ 24.0%: −$2,630
• After-tax cash flow: $9,777/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 80/100 Cosmetic rehab

This 2016 Eagle model double-wide mobile home is in excellent condition with minimal maintenance needed. It offers a good ROI with updates that can significantly enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and can add value
• Both Replace propane fireplace with electric — Improves energy efficiency and comfort
• Both Install smart home features — Attracts tech-savvy buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and can add value ↑
• Both Replace propane fireplace with electric — Improves energy efficiency and comfort ↑
• Both Install smart home features — Attracts tech-savvy buyers and renters ↑

ⓘ 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: 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 — Pike Creek Valley

• Score: 69/100
• State rank: #26
• US rank: #8511

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 39,082
• Household income: $94,234
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 619.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 14% Asian 8% Black 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 7% Lithuanian 1% Slovak 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 12% Chinese 3% Other Indo-European 2%

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: ▼ -252.43%
• Current HPI: 239.0702
• Rent YoY: ▲ 2.02%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-12.0% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $132,000 BRIGHT MLS
• 2026-05-01 Listed $150,000 BRIGHT MLS
• 2026-04-27 Coming Soon $150,000 BRIGHT MLS