1037 Dante Rd #176 · Smyrna, DE 19977

$155,000

2 bd · 2.0 ba · 1,530 sqft · SingleFamily · 36 Days on market

Built 2007 $101/sqft · at area comps Est $153k · at est. $26/mo HOA · 1% of rent

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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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.0/15.0
• 1% rule +6.9/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Premium corner lot! Situated within Smyrna’s highly desirable 55+ community of Bon Ayre, this rarely available lot sets this home apart, offering added space, privacy, and curb appeal. This well-maintained 2 bedroom, 2 full-bath home offers a thoughtfully designed layout with both comfort and functionality in mind. The spacious kitchen features ample cabinetry and generous counter space with an island, making it ideal for everyday living and entertaining. A bright sunroom provides a versatile space that can be used as a home office, sitting area, or additional living space, filled with natural light throughout the day. The home offers abundant closet space and has been carefully maint

Key facts

• Freshly painted deck
• Recent updates
• Ample cabinetry

Tags

• CORNER LOT
• BRIGHT SUNROOM
• AMPLE CABINETRY
• GENEROUS COUNTER SPACE
• FRESHLY PAINTED DECK
• RECENT UPDATES

Property features AI

Finance

• HOA & community: HOA fee $315 annually; Land lease $610 annually (approximately 20 years remaining)

Exterior

• Parking: Driveway parking; Two driveway spaces; Two total garage/parking spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home; Vinyl siding
• Construction: Vinyl siding exterior; Manufactured structure
• Exterior features: Community pool; Located in a senior community (55+); Land lease

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Finished above-grade living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.5% in Smyrna — 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 (#29 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Smyrna School District (rural): math 22% / reading 39% proficiency, ranked #16 of 26 in DE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 220 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 36 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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. Crime grade is D 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: 1.19% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.06%
• DSCR: 1.45
• GRM: 7.0

CMA / ARV

• ARV (median comp): $153,141
• List price: $155,000
• Delta: 1.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
926 Appleberry Dr	0.09mi	2/2.0	1,552 (+1%)	2mo	$154,900	$100	92
1117 Lorenzo Ln #270	0.11mi	3/2.0 (+1)	1,529 (-0%)	0mo	$160,000	$105	90
1111 Lorenzo Ln #267	0.13mi	3/2.0 (+1)	1,516 (-1%)	3mo	$165,000	$109	85
1125 Lorenzo Ln #274	0.10mi	3/2.0 (+1)	1,481 (-3%)	6mo	$160,000	$108	80
74 Liborio Ln	0.40mi	3/2.5 (+1)	1,488 (-3%)	2mo	$335,000	$225	68
38 Liborio Ln	0.39mi	3/2.5 (+1)	1,488 (-3%)	5mo	$360,000	$242	66
46 Liborio Ln	0.39mi	3/2.5 (+1)	1,434 (-6%)	2mo	$355,000	$248	63
2 Liborio Ln	0.31mi	3/2.0 (+1)	1,382 (-10%)	4mo	$350,888	$254	61
9 Ramunno Dr	0.44mi	3/2.5 (+1)	1,656 (+8%)	1mo	$330,000	$199	58
125 E Clarendon Dr	0.73mi	2/2.0	1,466 (-4%)	3mo	$337,500	$230	57
58 Vincent Ct	0.27mi	3/2.0 (+1)	1,326 (-13%)	6mo	$365,000	$275	55
63 Raphael Rd	0.53mi	3/3.5 (+1)	1,604 (+5%)	6mo	$352,000	$219	51

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-1,903
• Equity at exit: $23,111

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $28,357
• Equity at exit: $13,402

Cash invested: $43,400 (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 19977

• Home prices YoY: -29.1%
• Active inventory: 220
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,849 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$26
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $364

Break-even live

Break-even rent $1,389

Max offer price $155,000

Occupancy floor 75%

Sensitivity live

Price	-10% $471	-5% $417	+0% $364	+5% $310	+10% $257
Rent	-10% $218	-5% $291	+0% $364	+5% $437	+10% $510
Rate	-1.0pp $442	-0.5pp $403	base $364	+0.5pp $324	+1.0pp $283

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 20 events

1. 2026-06-19
   days on market $155,000 Active 36 DOM
2. 2026-06-18
   days on market $155,000 Active 35 DOM
3. 2026-06-17
   days on market $155,000 Active 34 DOM
4. 2026-06-16
   days on market $155,000 Active 33 DOM
5. 2026-06-15
   days on market $155,000 Active 32 DOM
6. 2026-06-14
   days on market $155,000 Active 30 DOM
7. 2026-06-13
   days on market $155,000 Active 29 DOM
8. 2026-06-10
   days on market $155,000 Active 27 DOM
9. 2026-06-09
   days on market $155,000 Active 26 DOM
10. 2026-06-08
    days on market $155,000 Active 25 DOM
11. 2026-06-07
    days on market $155,000 Active 24 DOM
12. 2026-06-05
    days on market $155,000 Active 21 DOM
13. 2026-06-02
    days on market $155,000 Active 19 DOM
14. 2026-06-01
    days on market $155,000 Active 18 DOM
15. 2026-05-31
    days on market $155,000 Active 17 DOM
16. 2026-05-30
    days on market $155,000 Active 16 DOM
17. 2026-05-14
    listed $155,000 Active 1040-char remark
18. 2020-06-29
    historical
19. 2020-06-11
    price $99,000
20. 2020-04-13
    listed $102,000 Active

ⓘ 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: $22,192
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − HOA: −$312
• − Depreciation: −$4,509
• Taxable income: $2,038
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $3,876/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: Smyrna School District
• NCES district ID: 1001620
• Math proficiency: 22% ▼ -25.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $61,704
• Composite: 27.67/100
• National rank: #6915
• State rank: #16 of 26 in DE

Livability — Smyrna

• Score: 69/100
• State rank: #29
• US rank: #8702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smyrna, DE
• Population (ZIP): 27,164

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 0.59)
• Race & ethnicity: White 56% Black 29% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 5% Hispanic 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -110.14%
• Current HPI: 267.998
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+52.0% since first listed

4 events — show timeline

• 2026-05-14 Listed $155,000 BRIGHT MLS
• 2020-06-29 Listing Removed — BRIGHT MLS
• 2020-06-11 Price Changed $99,000 BRIGHT MLS
• 2020-04-13 Listed $102,000 BRIGHT MLS