525 Balsam Ter · Newport, DE 19804

$230,000

3 bd · 1.5 ba · 1,625 sqft · Townhouse public records

Built 1960 1,742 sqft lot Est $325k · 29% 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.3/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

Key facts

• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Cap rate 8.6% vs local median 4.6% in Newport — 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 (#32 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D, crime F, amenities F.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $7k 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.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $130k; list at $230k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $230,000

Questions for the listing agent

1. Built in 1960 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.03% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $325,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65 Standiford Ct	0.69mi	2/2.0 (-1)	1,502 (-8%)	4mo	$295,000	$196	45
37 Read Ave	0.61mi	3/2.0	1,420 (-13%)	5mo	$288,000	$203	44
31 Standiford Ct	0.66mi	2/2.0 (-1)	1,600 (-2%)	20mo	$320,000	$200	43
15 Cartwright Ct	0.66mi	2/2.0 (-1)	1,650 (+2%)	21mo	$330,000	$200	42
2 Cartwright Ct	0.68mi	2/2.0 (-1)	1,650 (+2%)	21mo	$322,500	$195	41
22 Colefax Ct	0.72mi	2/2.0 (-1)	1,600 (-2%)	24mo	$312,000	$195	37

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: -3.9%
• Equity multiple: 0.86×
• Total profit: $-9,321
• Equity at exit: $34,294

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $27,688
• Equity at exit: $19,886

Cash invested: $64,400 (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 19804

• Active inventory: 42
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$122 /mo · $1,460/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $440

Break-even live

Break-even rent $1,802

Max offer price $230,000

Occupancy floor 76%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Stonehurst Dr Wilmington, DE	3.0	2.5	1550	$2,500	$1.61	5d	1	0.22mi
50 Dodson Ave Wilmington, DE	3.0	2.5	2200	$2,990	$1.36	2d	1	0.71mi
1333 Sycamore Ave Wilmington, DE	3.0	1.0	1175	$1,650	$1.40	24d	1	1.17mi
1230 Sycamore Ave Wilmington, DE	3.0	1.0	1150	$1,750	$1.52	24d	1	1.20mi
275 Filbert Ave Wilmington, DE	3.0	1.0	1225	$1,495	$1.22	2d	1	1.40mi

Listing history 10 events

1. 2026-05-28
   historical
2. 2026-05-27
   listed $230,000
3. 2018-11-14
   soldstatus $130,000
4. 2018-11-09
   soldstatus $130,000 Closed 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

5. 2018-09-28
   status Pending 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

6. 2018-09-21
   price $134,900 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

7. 2018-07-26
   price $141,500 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

8. 2018-07-20
   price $149,900 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

9. 2018-07-05
   listed $150,000 Active 578-char remark

   Show marketing remark (578 chars)

   This town-home has been well cared for and nicely updated. The front and back walls have received extra insulation for energy efficiency, resulting in low utility costs. All the windows have been replaced with double pane, except for 2 which are in good condition. There is carpet over the first and 2nd floor hardwoods that have never seen the light of day. Plus, there's lots of storage in addition to the garage (21 X 10) which could be used as another room. The downstairs family room leads to a fenced and intimate back yard with patio. Put this home on your MUST SEE list!

10. 1978-01-01
    soldstatus $24,000

ⓘ 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: $1,460 · $122/mo
• Projected year-2 tax: $1,460 · $122/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 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,307
• − Mortgage interest: −$12,884
• − Property taxes: −$1,460
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − Depreciation: −$6,691
• Taxable income: $1,593
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $4,896/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 of 26 in DE

Livability — Newport

• Score: 69/100
• State rank: #32
• US rank: #8853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,231

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 18% Black 13% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 6% Iranian 2% Slovak 1%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 15% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -182.17%
• Current HPI: 268.5199
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+858.3% since first listed

10 events — show timeline

• 2026-05-28 Listing Removed — BRIGHT MLS
• 2026-05-27 Listed $230,000 BRIGHT MLS
• 2018-11-14 Sold (Public Records) $130,000 Public Records
• 2018-11-09 Sold (MLS) $130,000 BRIGHT MLS
• 2018-09-28 Pending — BRIGHT MLS
• 2018-09-21 Price Changed $134,900 BRIGHT MLS
• 2018-07-26 Price Changed $141,500 BRIGHT MLS
• 2018-07-20 Price Changed $149,900 BRIGHT MLS
• 2018-07-05 Listed $150,000 BRIGHT MLS
• 1978-01-01 Sold (Public Records) $24,000 Public Records

Property tax history

+26.3%/yr

Latest (2024): $1,460 · +13.0% YoY. Source: county tax records.