151 Roosevelt Ave Unit C7 · Dover, DE 19901

$55,000

2 bd · 1.0 ba · 768 sqft · Manufactured public records · 30 Days on market

Built 1973

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Thoughtfully remodeled and refreshed, this 1973 mobile home offers a low maintenance living in a 55+ land-lease community. The main living area flows nicely into the updated kitchen, which features ample cabinet space, brand-new appliances, and a dining area providing a comfortable place to gather and enjoy meals. The home includes two bedrooms, offering flexibility for a variety of uses. The second bedroom can easily function as a guest room, office, or computer space depending on your needs. The bathroom has been tastefully updated with a clean, modern look. Additional conveniences include an in-unit washer and dryer, helping simplify daily routines. Each home also includes a designated p

Key facts

• Updated kitchen
• Ample cabinet space
• Brand-new appliances

Tags

• REMODELED MOBILE HOME
• UPDATED KITCHEN
• AMPLE CABINET SPACE
• BRAND-NEW APPLIANCES
• IN-UNIT WASHER AND DRYER
• DESIGNATED PARKING SPACE

Property features AI

Finance

• Financial info: Annual ground rent listed as an income/expense item
• HOA & community: Land lease: $594 monthly; Land lease years remaining: 127

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Single-wide mobile home (Majestic model); Mobile home built prior to 1976; Estimated year built; Located in a senior community (55+)
• Construction: Modular/Manufactured construction; Above-grade and below-grade structures noted
• Exterior features: Shed; Ground rent exists (paid annually)

Interior

• Kitchen: Stainless steel appliances; Refrigerator; Electric oven/range
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Oil-fired heating
• Interior features: Open floor plan; Combination kitchen and dining area; Walk-in shower; Window treatments
• Laundry & utility: Washer; Electric dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.9% 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; 8 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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: 2.95% ✓
• Cap rate: 25.93%
• Cash-on-cash: 70.14%
• DSCR: 4.12
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $33,792
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
151 Roosevelt Ave Unit C6	0.00mi	2/1.5	720 (-6%)	6mo	$32,000	$44	83
151 Roosevelt Ave #31	0.01mi	1/1.0 (-1)	720 (-6%)	10mo	$27,900	$39	76

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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 68.6%
• Equity multiple: 4.04×
• Total profit: $46,878
• Equity at exit: $8,201

10-year hold

• IRR: 72.4%
• Equity multiple: 8.04×
• Total profit: $108,441
• Equity at exit: $4,755

Cash invested: $15,400 (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 19901

• Rents YoY: 2.0%
• Active inventory: 184
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $900

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 39%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 New Castle Ave Dover, DE	3.0	1.0	950	$1,650	$1.74	43d	1	0.64mi
480 Country Dr Dover, DE	3.0	1.0–2.0	715	$1,653	$2.31	43d	22	1.10mi
51 Webbs Ln Dover, DE	2.0	1.0–1.5	787	$1,525	$1.94	43d	11	1.17mi
4 Carolee Dr Dover, DE	3.0	1.0	1008	$2,100	$2.08	43d	1	1.25mi
12 S State St Unit 2 Dover, DE	1.0	1.0	800	$1,195	$1.49	43d	1	1.35mi
5 S State St Dover, DE	1.0	1.5	1100	$1,200	$1.09	43d	1	1.36mi
16 S New St #1 Dover, DE	3.0	1.0	1000	$1,950	$1.95	43d	1	1.40mi
46 Lincoln St Dover, DE	2.0	2.0	1073	$1,700	$1.58	43d	1	1.49mi

Listing history 16 events

1. 2026-06-19
   days on market $55,000 Active 30 DOM
2. 2026-06-18
   days on market $55,000 Active 29 DOM
3. 2026-06-17
   days on market $55,000 Active 28 DOM
4. 2026-06-16
   days on market $55,000 Active 27 DOM
5. 2026-06-15
   days on market $55,000 Active 26 DOM
6. 2026-06-14
   days on market $55,000 Active 24 DOM
7. 2026-06-13
   days on market $55,000 Active 23 DOM
8. 2026-06-10
   days on market $55,000 Active 21 DOM
9. 2026-06-09
   days on market $55,000 Active 20 DOM
10. 2026-06-08
    days on market $55,000 Active 19 DOM
11. 2026-06-07
    days on market $55,000 Active 18 DOM
12. 2026-06-02
    days on market $55,000 Active 13 DOM
13. 2026-06-01
    days on market $55,000 Active 12 DOM
14. 2026-05-31
    days on market $55,000 Active 11 DOM
15. 2026-05-30
    days on market $55,000 Active 10 DOM
16. 2026-05-21
    listed $55,000 Active

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

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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $19,447
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$1,600
• Taxable income: $10,555
• Est. tax owed @ 24.0%: −$2,533
• After-tax cash flow: $8,269/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

1 event — show timeline

• 2026-05-21 Listed $55,000 BRIGHT MLS

Property tax history

+2.5%/yr

Latest (2022): $106 · +4.3% YoY. Source: county tax records.