409 Corato Ct · Glasgow, DE 19701

$250,000

2 bd · 2.5 ba · 1,575 sqft · Townhouse public records · 6 Days on market

Built 1991 4,792 sqft lot Est $310k · 19% under

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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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Rent growth +4.8/5.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is a diamond in the rough. The 3 bedroom, 2.5 bath end-unit townhome in Pinewoods is worth a look. With TLC , some elbow grease and updating you could bring it back to it's glory and shine! This home is being sold AS-IS. Buyer may perform any inspections for informational purposes, but seller will make no repairs. Gain instant equity - priced according to condition. Come on out and tour this home - See what your imagination will do! Cash or Conventional offers only.

Key facts

• 2 parking spots
• Built 1991
• Listed 6 days

Property features AI

Finance

• Other: Ownership: Fee simple; Lease not considered; Pets allowed with no restrictions

Exterior

• Parking: Two assigned off-street parking spaces
• Utilities: Public water; Public sewer (public septic); Electric for heating, cooling and hot water
• Home design: End of row townhouse; Entry level is floor 2
• Construction: Vinyl siding exterior; Asphalt roof; Concrete perimeter foundation; Year built source: Assessor
• Exterior features: Lot dimensions approximately 31.00 x 161.30; Not in a federal flood zone; Above-grade and below-grade structures; Tidal water: none

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Two bedrooms on the upper level; One bedroom on the lower level
• Bathrooms: Two full bathrooms (one on upper level, one on lower level); One half bathroom on main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Drywall walls and ceilings; Fully finished basement with outside entrance (approximately 89% finished); Level entry to main floor
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $250k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.2% vs local median 3.5% in Glasgow — 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 77/100 on livability (#4 in DE, #3,151 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+9.0%/yr); 103 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 8.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $250,000

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. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $310,275
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Corato Ct	0.00mi	3/2.5 (+1)	1,575 (0%)	0mo	$250,000	$159	95
650 Corsica Ave	0.10mi	2/2.5	1,532 (-3%)	8mo	$309,900	$202	85
667 Corsica Ave	0.14mi	3/1.5 (+1)	1,550 (-2%)	2mo	$299,900	$193	81
840 Sabina Cir	0.24mi	2/1.5	1,644 (+4%)	2mo	$320,000	$195	76
714 Naples Way	0.16mi	2/1.5	1,425 (-10%)	4mo	$239,000	$168	70
221 Vercelli Dr	0.23mi	2/2.5	1,400 (-11%)	2mo	$290,000	$207	70
658 Corsica Ave	0.11mi	2/1.5	1,425 (-10%)	7mo	$242,000	$170	69
685 Corsica Ave	0.17mi	2/2.5	1,400 (-11%)	8mo	$299,999	$214	66
705 Naples Way	0.17mi	3/2.5 (+1)	1,425 (-10%)	7mo	$282,500	$198	65
22 Monferrato Ct	0.23mi	2/1.5	1,400 (-11%)	5mo	$303,000	$216	63
7 Forest Glen Ct	0.42mi	3/2.5 (+1)	1,650 (+5%)	9mo	$325,000	$197	60
14 Pimlico Ln	0.60mi	3/2.5 (+1)	1,725 (+10%)	6mo	$335,000	$194	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,731
• Equity at exit: $37,276

10-year hold

• IRR: 13.5%
• Equity multiple: 2.31×
• Total profit: $92,013
• Equity at exit: $21,615

Cash invested: $70,000 (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 19701

• Rents YoY: 9.0%
• Active inventory: 103
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,533 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$187 /mo · $2,241/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $399

Break-even live

Break-even rent $2,028

Max offer price $250,000

Occupancy floor 79%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Turnberry Ct Bear, DE	1.0–3.0	1.0–3.0	1598	$2,652	$1.66	1d	194	0.47mi
1906 Porter Rd Bear, DE	3.0	2.5	2150	$3,200	$1.49	19d	1	0.86mi
1 Kennedy Cir Bear, DE	1.0–3.0	1.0–3.0	1582	$2,568	$1.62	1d	39	1.05mi
900 Woodchuck Pl Bear, DE	1.0–3.0	1.0–2.0	935	$1,950	$2.09	1d	46	1.09mi
308 Skeet Ave Bear, DE	3.0	2.0	1100	$2,300	$2.09	24d	1	1.15mi
49 Willow Pl Newark, DE	3.0–4.0	2.0–3.5	1844	$2,725	$1.48	1d	1	1.15mi

Listing history 4 events

1. 2026-04-30
   status Pending
2. 2026-04-30
   historical
3. 2026-04-25
   listed $250,000 Active
4. 2026-04-22
   historical $250,000

ⓘ 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: $2,241 · $187/mo
• Projected year-2 tax: $2,241 · $187/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,399
• − Mortgage interest: −$14,004
• − Property taxes: −$2,241
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,432
• − Management: −$2,432
• − Depreciation: −$7,273
• Taxable income: $767
• Est. tax owed @ 24.0%: −$184
• After-tax cash flow: $4,607/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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 of 26 in DE

Livability — Glasgow

• Score: 77/100
• State rank: #4
• US rank: #3151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glasgow, DE
• County: New Castle County · 483,412 people
• City population: 56,049
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 42,984
• Household income: $111,198
• Rent vs Own: 19.5% rent · 80.5% 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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 50% Black 26% Hispanic / Latino 11% Asian 10% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 78% English-only · Spanish 8% Other Asian/Pacific 3% Other Indo-European 3%

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: ▼ -159.00%
• Current HPI: 261.2988
• Rent YoY: ▲ 9.03%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

4 events — show timeline

• 2026-04-30 Pending — BRIGHT MLS
• 2026-04-30 Listing Removed — BRIGHT MLS
• 2026-04-25 Listed $250,000 BRIGHT MLS
• 2026-04-22 Coming Soon $250,000 BRIGHT MLS

Property tax history

+3.5%/yr

Latest (2024): $2,241 · +2.7% YoY. Source: county tax records.