9258 Sharptown Rd · Laurel, DE 19956

$149,900

2 bd · 1.0 ba · 1,000 sqft · SingleFamily · 149 Days on market

Built 1940 0.29 ac lot $150/sqft · 22% below area Est $191k · 22% 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 +17.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.3/10.0
• 1% rule +3.4/10.0
• 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

Calling all investors!!! COULD this be your next Rental or Flip house? This two Bedroom one bathroom home has a new well, a new roof, and a new boiler! Property borders two roads and has access from a shared driveway on rt. 24 Sharptown rd. and also in the rear of the property on Hastings Dr. The home also includes a pull through detached garage, and a delapitated shed. This property will not qualify for USDA, FHA, or VA financing. With some of the most expensive repairs already made, bring your ideas and contractors to make this house your Home! If you are looking to downsize, or for your next rental property, this may be the place for you! Home needs some TLC, but could be a really nice place with your hard work and fininshes! HOME is being sold AS-IS -Where-IS, seller is not in a position to make any repairs. Contact the listing agent for all showings, property is currently occupied. All offers will be considered. Please include a contingency waiver form and proof of funds with all offers.

Key facts

• New boiler
• New well
• New roof

Tags

• NEW WELL
• NEW ROOF
• NEW BOILER
• SHARED DRIVEWAY
• PULL THROUGH DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/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 $126k (15.8% below list).
• Recommended offer: $126k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; 2 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $126,155 (15.8% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (median comp): $191,380
• List price: $149,900
• Delta: -21.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 W 6th St	0.54mi	3/1.0 (+1)	950 (-5%)	17mo	$120,000	$126	47
1154 W 6th St	0.69mi	3/2.0 (+1)	1,117 (+12%)	2mo	$256,540	$230	38
402-W 7th St	0.46mi	3/2.0 (+1)	1,140 (+14%)	14mo	$235,000	$206	35
541 W 7th St	0.58mi	3/2.0 (+1)	1,120 (+12%)	21mo	$255,000	$228	26

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: 26.4%
• Equity multiple: 3.10×
• Total profit: $88,148
• Equity at exit: $135,042

10-year hold

• IRR: 23.1%
• Equity multiple: 7.06×
• Total profit: $254,274
• Equity at exit: $291,223

Cash invested: $41,972 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $103

Break-even live

Break-even rent $1,131

Max offer price $149,900

Occupancy floor 87%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 West St Unit 1 Laurel, DE	1.0	1.0	700	$995	$1.42	43d	1	0.46mi
1205 W 6th St Laurel, DE	3.0	2.0	1440	$1,695	$1.18	43d	1	0.75mi

Listing history 19 events

1. 2026-06-18
   days on market $149,900 Active 149 DOM
2. 2026-06-17
   days on market $149,900 Active 148 DOM
3. 2026-06-16
   days on market $149,900 Active 147 DOM
4. 2026-06-15
   days on market $149,900 Active 146 DOM
5. 2026-06-14
   days on market $149,900 Active 144 DOM
6. 2026-06-13
   days on market $149,900 Active 143 DOM
7. 2026-06-10
   days on market $149,900 Active 141 DOM
8. 2026-06-09
   days on market $149,900 Active 140 DOM
9. 2026-06-08
   days on market $149,900 Active 139 DOM
10. 2026-06-07
    days on market $149,900 Active 138 DOM
11. 2026-06-03
    days on market $149,900 Active 134 DOM
12. 2026-06-02
    days on market $149,900 Active 133 DOM
13. 2026-06-01
    days on market $149,900 Active 132 DOM
14. 2026-05-31
    days on market $149,900 Active 131 DOM
15. 2026-05-30
    days on market $149,900 Active 130 DOM
16. 2026-04-10
    price $149,900 1009-char remark

    Show marketing remark (1009 chars)

    Calling all investors!!! COULD this be your next Rental or Flip house? This two Bedroom one bathroom home has a new well, a new roof, and a new boiler! Property borders two roads and has access from a shared driveway on rt. 24 Sharptown rd. and also in the rear of the property on Hastings Dr. The home also includes a pull through detached garage, and a delapitated shed. This property will not qualify for USDA, FHA, or VA financing. With some of the most expensive repairs already made, bring your ideas and contractors to make this house your Home! If you are looking to downsize, or for your next rental property, this may be the place for you! Home needs some TLC, but could be a really nice place with your hard work and fininshes! HOME is being sold AS-IS -Where-IS, seller is not in a position to make any repairs. Contact the listing agent for all showings, property is currently occupied. All offers will be considered. Please include a contingency waiver form and proof of funds with all offers.

17. 2026-02-05
    price $159,000 1009-char remark

    Show marketing remark (1009 chars)

    Calling all investors!!! COULD this be your next Rental or Flip house? This two Bedroom one bathroom home has a new well, a new roof, and a new boiler! Property borders two roads and has access from a shared driveway on rt. 24 Sharptown rd. and also in the rear of the property on Hastings Dr. The home also includes a pull through detached garage, and a delapitated shed. This property will not qualify for USDA, FHA, or VA financing. With some of the most expensive repairs already made, bring your ideas and contractors to make this house your Home! If you are looking to downsize, or for your next rental property, this may be the place for you! Home needs some TLC, but could be a really nice place with your hard work and fininshes! HOME is being sold AS-IS -Where-IS, seller is not in a position to make any repairs. Contact the listing agent for all showings, property is currently occupied. All offers will be considered. Please include a contingency waiver form and proof of funds with all offers.

18. 2026-01-20
    listed $163,000 Active 1009-char remark

    Show marketing remark (1009 chars)

    Calling all investors!!! COULD this be your next Rental or Flip house? This two Bedroom one bathroom home has a new well, a new roof, and a new boiler! Property borders two roads and has access from a shared driveway on rt. 24 Sharptown rd. and also in the rear of the property on Hastings Dr. The home also includes a pull through detached garage, and a delapitated shed. This property will not qualify for USDA, FHA, or VA financing. With some of the most expensive repairs already made, bring your ideas and contractors to make this house your Home! If you are looking to downsize, or for your next rental property, this may be the place for you! Home needs some TLC, but could be a really nice place with your hard work and fininshes! HOME is being sold AS-IS -Where-IS, seller is not in a position to make any repairs. Contact the listing agent for all showings, property is currently occupied. All offers will be considered. Please include a contingency waiver form and proof of funds with all offers.

19. 2010-05-26
    soldstatus $143,500

ⓘ 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: $538 · $45/mo
• Projected year-2 tax: $704 · $59/mo
• Expected delta: +$166/yr (+$14/mo · 30.9%)

ⓘ 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 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,139
• − Mortgage interest: −$8,397
• − Property taxes: −$538
• − Insurance: −$750
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$4,361
• Taxable loss: −$1,328
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $1,558/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

• 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

+4.5% since first listed

4 events — show timeline

• 2026-04-10 Price Changed $149,900 BRIGHT MLS
• 2026-02-05 Price Changed $159,000 BRIGHT MLS
• 2026-01-20 Listed $163,000 BRIGHT MLS
• 2010-05-26 Sold (Public Records) $143,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $538 · +33.9% YoY. Source: county tax records.