85 N Halsey Rd · Dover, DE 19901

$169,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 17 Days on market

Built 1950 6,969 sqft lot $253/sqft · 8% above area Est $236k · 28% under ↓ 9% 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 85 N Halsey Rd! This 3 bedroom, 1 bath home is priced to sell and offers tremendous potential for an investor or homeowner looking to build instant sweat equity. The property does need work after a long-term tenant occupancy, but with some vision and updates this could make a fantastic primary residence, flip, or rental property. Situated on a good-sized lot with alley access and conveniently located close to Route 13, Route 1, shopping, restaurants, schools, and all Dover amenities. Affordable opportunities in this location are hard to find — bring your ideas and make this one your own! Property being sold as-is.

Key facts

• Alley access
• Close to restaurants
• Close to route 13

Tags

• ALLEY ACCESS
• GOOD SIZED LOT
• CLOSE TO ROUTE 13
• CLOSE TO ROUTE 1
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Finance

• Other: Ownership is fee simple; Year built information is estimated

Exterior

• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Pitched shingle roof; Above-grade living space approximately 1,008 finished square feet (estimated)
• Construction: Vinyl siding; Brick/mortar foundation; Above-grade structures
• Exterior features: Street lights nearby; Level lot with front yard, rear yard, and side yards

Interior

• Kitchen: Built-in range; Refrigerator
• Bedrooms: 2 bedrooms on main level; Rooms include Living Room, Master Bedroom, Kitchen, Second Bedroom, and Attic
• Flooring: Wood flooring; Tile or brick flooring
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas)
• Interior features: Eat-in kitchen
• Laundry & utility: Main-floor laundry

🏷️ Possibly a rental listed for sale. The $169,900 price doesn't fit this home's estimated sale value (~$236,398) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $231 ($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 $162k (4.8% below list).
• Recommended offer: $162k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.0%/yr); 184 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 17 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $161,794 (4.8% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 0.95% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.82%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

• ARV (median comp): $236,398
• List price: $169,900
• Delta: -28.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-14,461
• Equity at exit: $25,333

10-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-191
• Equity at exit: $14,690

Cash invested: $47,572 (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 19901

• Rents YoY: 2.0%
• Active inventory: 184
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$86 /mo · $1,030/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $231

Break-even live

Break-even rent $1,326

Max offer price $169,900

Occupancy floor 81%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 Carvel Dr Dover, DE	1.0–2.0	1.0–1.5	782	$1,435	$1.83	43d	12	0.53mi
480 Country Dr Dover, DE	3.0	1.0–2.0	715	$1,653	$2.31	43d	22	0.81mi
355A Ridgely St Dover, DE	1.0–3.0	1.0–2.5	1238	$2,210	$1.78	43d	17	1.36mi

Listing history 4 events

1. 2026-05-12
   listed $169,900 Active 649-char remark
2. 1999-08-04
   listed $59,000
3. 1999-08-04
   historical
4. 1990-06-01
   soldstatus $187,500

ⓘ 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: $1,030 · $86/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $19,415
• − Mortgage interest: −$9,517
• − Property taxes: −$1,030
• − Insurance: −$850
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$4,943
• Taxable loss: −$30
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $2,774/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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• Metro: Dover, DE
• Population (ZIP): 37,763
• Household income: $66,388
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1320.0

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 0.68)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▼ -113.29%
• Current HPI: 199.5132
• Rent YoY: ▲ 2.03%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

-9.4% since first listed

5 events — show timeline

• 2026-05-29 Pending — BRIGHT MLS
• 2026-05-12 Listed $169,900 BRIGHT MLS
• 1999-08-04 Listing Removed — BRIGHT MLS
• 1999-08-04 Listed $59,000 BRIGHT MLS
• 1990-06-01 Sold (Public Records) $187,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,030 · +3.5% YoY. Source: county tax records.