316 E 6th St · Laurel, DE 19956

$175,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily · 1 Days on market

Built 2006 0.47 ac lot Est $256k · 32% under

---

Why this score? — see what drove the B- 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 +22.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Situated in the Town Limits of Laurel is this 3 bedroom, 1 bathroom single family home with detached 2 car garage. With some TLC, this property can surely shine. Excellent opportunity for an investor. Property is being sold as is. No warrantied expressed or implied.

Key facts

• Hardwood flooring
• Rear patio
• Built-in storage

Tags

• HARDWOOD FLOORING
• BUILT-IN STORAGE
• WALK-IN UNFINISHED ATTIC
• DETACHED GARAGE
• GRAVEL DRIVEWAY
• REAR PATIO

Property features AI

Exterior

• Parking: Detached side-entry garage (1-car); Gravel driveway with two driveway spaces; Total of 3 garage/parking spaces
• Utilities: Public water; Public sewer; 200+ amp electrical service with circuit breakers; Tankless hot water (natural gas)
• Home design: Detached home; Estimated 1,300 finished above-grade square feet; Fee simple ownership; Located in a federal flood zone; Two or more access exits
• Construction: Stick built construction with vinyl siding; Block foundation; Partial basement (finished/unfinished status noted); Built year source: Assessor
• Exterior features: Patio(s); Sidewalks; Cleared lot

Interior

• Kitchen: Electric oven/range; Exhaust fan; Refrigerator; Icemaker
• Bedrooms: Two bedrooms on the main level; One bedroom on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating fueled by natural gas; Central air conditioning; Window A/C units
• Interior features: Attic; Window treatments; Ceiling fans
• Laundry & utility: Washer included; Laundry hookups in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/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 $170k (3.1% below list).
• Recommended offer: $170k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.9% in Laurel — 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 (#57 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D+, schools F, crime F.
• Laurel School District (suburban): math 15% / reading 27% proficiency, ranked #25 of 26 in DE (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $38k; list at $175k implies a 367% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $169,500 (3.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 0.97% ✗
• Cap rate: 8.25%
• Cash-on-cash: 7.00%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $256,100
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10997 Trussum Pond Rd	0.28mi	3/1.0	1,340 (+3%)	7mo	$242,500	$181	76
32497 Park Dr	0.26mi	2/1.5 (-1)	1,352 (+4%)	19mo	$320,000	$237	58
514 E 4th St	0.19mi	4/1.5 (+1)	1,363 (+5%)	22mo	$180,000	$132	58
202 West 7 Th St W	0.42mi	3/2.0	1,300 (0%)	23mo	$175,000	$135	57
116 Broad Creek Rd	0.65mi	3/1.5	1,400 (+8%)	5mo	$250,000	$179	50
136 Oak Lane Dr	0.25mi	3/1.5	1,450 (+12%)	22mo	$300,000	$207	49
510 Central Ave S	0.35mi	3/2.5	1,470 (+13%)	15mo	$290,000	$197	44
402-W 7th St	0.68mi	3/2.0	1,140 (-12%)	14mo	$235,000	$206	32
31030 N Poplar St	0.73mi	3/2.0	1,400 (+8%)	20mo	$295,000	$211	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 3.32×
• Total profit: $113,442
• Equity at exit: $157,654

10-year hold

• IRR: 25.5%
• Equity multiple: 7.52×
• Total profit: $319,613
• Equity at exit: $339,987

Cash invested: $49,000 (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 19956

• Home prices YoY: 10.5%
• Active inventory: 92
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,695 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $286

Break-even live

Break-even rent $1,333

Max offer price $175,000

Occupancy floor 78%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 W 6th St Laurel, DE	3.0	2.0	1440	$1,695	$1.18	44d	1	1.08mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $175,000 Active 1 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: $751 · $63/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$132/yr (+$11/mo · 17.5%)

ⓘ 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 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,340
• − Mortgage interest: −$9,803
• − Property taxes: −$751
• − Insurance: −$875
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$5,091
• Taxable income: $566
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $3,294/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: Laurel School District
• NCES district ID: 1000810
• Math proficiency: 15% ▼ -22.00%
• Reading proficiency: 27% ▼ -19.00%
• Median HH income: $47,135
• Composite: 18.42/100
• National rank: #8933
• State rank: #25 of 26 in DE

Livability — Laurel

• Score: 63/100
• State rank: #57
• US rank: #15428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurel, DE
• Population (ZIP): 16,274

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 16% Hispanic / Latino 14% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Russian 2% Italian 1% Hispanic 1%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 12% French/Haitian/Cajun 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.72%
• Current HPI: 301.6055
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+192.2% since first listed

7 events — show timeline

• 2026-06-18 Listed $175,000 BRIGHT MLS
• 2020-09-30 Listing Removed — BRIGHT MLS
• 2017-02-24 Sold (MLS) $37,500 BRIGHT MLS
• 2016-04-13 Listed $42,000 BRIGHT MLS
• 2015-10-01 Listing Removed — BRIGHT MLS
• 2014-10-06 Listed $59,900 BRIGHT MLS
• 2014-10-06 Listed $59,900 BRIGHT MLS

Property tax history

+14.4%/yr

Latest (2025): $751 · +120.9% YoY. Source: county tax records.