1749 Barbara Cir · Bear, DE 19701

$15,999

3 bd · 2.0 ba · 1,100 sqft · Other · 115 Days on market

Built 1992 $15/sqft · 74% below area ↓ 27% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Waterford Estates in Bear, Delaware! Water, sewer, trash/recycling, and basic cable are all included in the monthly lot rent. The current market lot rent for a single-wide home is $1,087.00 per month, plus $1.50 for the Relocation Trust Fund. This home is being sold as-is, offering a great opportunity for a buyer ready to add cosmetic updates and personal touches. The seller has never occupied the property and makes no warranties regarding its condition. With a little vision and effort, this three-bedroom home — featuring a primary suite — can truly shine. The layout offers bedrooms at opposite ends of the home for added privacy, with a spacious eat-in kitchen and lar

Key facts

• Large living room
• 2 parking spots
• Built 1992

Tags

• SPACIOUS EAT-IN KITCHEN
• LARGE LIVING ROOM
• PET-FRIENDLY COMMUNITY
• WALKING AND RUNNING TRAILS

🏷️ Possibly a rental listed for sale. The $15,999 price doesn't fit this home's estimated sale value (~$61,651) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $16k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $16k).
• Recommended offer: $15k (9.0% below list) — sets the bar for market timing.
• Cap rate 148.3% vs local median 4.7% in Bear — 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 73/100 on livability (#8 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, cost of living A-; Watch: crime C-, schools D+, amenities 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $110 of loan paydown is wiped out by about $480 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($15k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $14,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 15.99% ✓
• Cap rate: 148.26%
• Cash-on-cash: 507.02%
• DSCR: 23.56
• GRM: 0.5

CMA / ARV

• ARV (median comp): $61,651
• List price: $15,999
• Delta: -74.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 30.36×
• Total profit: $131,530
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 75.00×
• Total profit: $331,506
• Equity at exit: $1,383

Cash invested: $4,480 (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: 0.5×

Monthly cashflow live

• Estimated rent: $2,559 high
• Mortgage (P&I): −$84
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $1,893

Break-even live

Break-even rent $163

Max offer price $15,999

Occupancy floor 21%

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Kennedy Cir Bear, DE	1.0–3.0	1.0–3.0	1582	$3,315	$2.09	1d	39	0.56mi
885 Salem Church Rd Newark, DE	1.0–2.0	1.0–2.0	850	$1,795	$2.11	1d	1	0.60mi
10 McFarland Dr Newark, DE	2.0	2.0	1082	$2,176	$2.01	2d	2	0.79mi
50 Turnberry Ct Bear, DE	1.0–3.0	1.0–3.0	1598	$3,400	$2.13	1d	194	1.03mi
138 Creekside Ct Newark, DE	2.0	2.5	1225	$2,200	$1.80	43d	1	1.13mi
182 Darling St Newark, DE	3.0	2.5	1345	$2,450	$1.82	43d	1	1.18mi
2102 Ashkirk Dr Newark, DE	1.0–2.0	1.0–2.0	880	$1,865	$2.12	1d	6	1.19mi
2139 Valence Pl Newark, DE	2.0–3.0	2.0	1183	$2,505	$2.12	15d	6	1.41mi
325 Barley Dr Newark, DE	2.0	1.5	1000	$1,675	$1.68	24d	1	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $15,999 Active 115 DOM
2. 2026-06-17
   days on market $15,999 Active 114 DOM
3. 2026-06-15
   days on market $15,999 Active 113 DOM
4. 2026-06-13
   days on market $15,999 Active 111 DOM
5. 2026-06-13
   days on market $15,999 Active 110 DOM
6. 2026-06-09
   days on market $15,999 Active 107 DOM
7. 2026-06-08
   days on market $15,999 Active 106 DOM
8. 2026-06-07
   days on market $15,999 Active 105 DOM
9. 2026-06-04
   days on market $15,999 Active 102 DOM
10. 2026-06-03
    days on market $15,999 Active 101 DOM
11. 2026-06-02
    days on market $15,999 Active 100 DOM
12. 2026-06-01
    days on market $15,999 Active 99 DOM
13. 2026-05-31
    days on market $15,999 Active 98 DOM
14. 2026-05-16
    historical
15. 2026-04-15
    price $15,999
16. 2026-02-13
    listed $22,000 Active

ⓘ 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: $456 · $38/mo
• Projected year-2 tax: $456 · $38/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,703
• − Mortgage interest: −$896
• − Property taxes: −$456
• − Insurance: −$80
• − Repairs & maintenance: −$2,456
• − Management: −$2,456
• − Depreciation: −$465
• Taxable income: $23,893
• Est. tax owed @ 24.0%: −$5,734
• After-tax cash flow: $16,979/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 — Bear

• Score: 73/100
• State rank: #8
• US rank: #5158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bear, DE
• County: New Castle County · 483,412 people
• City population: 42,984
• 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

-27.3% since first listed

3 events — show timeline

• 2026-05-16 Listing Removed — BRIGHT MLS
• 2026-04-15 Price Changed $15,999 BRIGHT MLS
• 2026-02-13 Listed $22,000 BRIGHT MLS

Property tax history

+2.9%/yr

Latest (2024): $456 · +2.8% YoY. Source: county tax records.