DUPLEX ON E 11th St · Wilmington, DE 19801

$125,000

6 bd · None ba · 1,325 sqft · MultiFamily · 121 Days on market

Built 1890 Poor condition 1,307 sqft lot $94/sqft · 41% below area Est $210k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Shell/rehab/investor opportunity in Wilmington! This duplex property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. The first floor has 2beds, 1 bath and the upstairs is a 1bed/1 bath. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

Key facts

• New plumbing
• New hvac
• New electrical

Tags

• NEW ROOF
• NEW WINDOWS
• NEW HVAC
• NEW ELECTRICAL
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×1bd/1ba units multifamily listed at $125k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $872/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.0% vs local median 5.7% in Wilmington — 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 64/100 on livability (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, commute D, crime 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.
• Zoned schools: Stubbs Early Education Center (190 students, 0% FRL); The Bayard School (math 3% / reading 10%, grade F, #102 of 105 statewide, top 97%, 508 students, 0% FRL); Christiana High School (math 49% / reading 66%, grade C, #3 of 40 statewide, top 5%, 1,256 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $3,300/mo this rent would consume 75% of the median local household income ($53k/yr) (locally 919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 1.6% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.64% ✓
• Cap rate: 23.03%
• Cash-on-cash: 59.77%
• DSCR: 3.66
• GRM: 3.2

CMA / ARV

• ARV (median comp): $210,271
• List price: $125,000
• Delta: -40.55%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 56.9%
• Equity multiple: 3.46×
• Total profit: $86,200
• Equity at exit: $18,638

10-year hold

• IRR: 61.3%
• Equity multiple: 6.71×
• Total profit: $199,807
• Equity at exit: $10,808

Cash invested: $35,000 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,300 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $1,743

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,830	-5% $1,786	+0% $1,743	+5% $1,700	+10% $1,657
Rent	-10% $1,482	-5% $1,613	+0% $1,743	+5% $1,874	+10% $2,004
Rate	-1.0pp $1,806	-0.5pp $1,775	base $1,743	+0.5pp $1,711	+1.0pp $1,678

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,756
1× unit	1	1	$1,544
Total (2 units)			$3,300

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $125,000 Active 121 DOM
2. 2026-06-18
   days on market $125,000 Active 118 DOM
3. 2026-06-17
   days on market $125,000 Active 117 DOM
4. 2026-06-16
   days on market $125,000 Active 116 DOM
5. 2026-06-15
   days on market $125,000 Active 115 DOM
6. 2026-06-13
   days on market $125,000 Active 113 DOM
7. 2026-06-13
   days on market $125,000 Active 112 DOM
8. 2026-06-09
   days on market $125,000 Active 109 DOM
9. 2026-06-08
   days on market $125,000 Active 108 DOM
10. 2026-06-07
    days on market $125,000 Active 107 DOM
11. 2026-06-04
    days on market $125,000 Active 104 DOM
12. 2026-06-03
    days on market $125,000 Active 103 DOM
13. 2026-06-02
    days on market $125,000 Active 102 DOM
14. 2026-06-01
    days on market $125,000 Active 101 DOM
15. 2026-05-31
    days on market $125,000 Active 100 DOM
16. 2026-02-20
    listed $125,000 Active 398-char remark

    Show marketing remark (398 chars)

    Shell/rehab/investor opportunity in Wilmington! This duplex property in Wilmington just needs the final touches to make it home! All major systems have been updated to include: new roof, new windows, new HVAC, new electrical and plumbing, framed out. The first floor has 2beds, 1 bath and the upstairs is a 1bed/1 bath. Financing needed is cash, hard money or a reno loan. Schedule your tour today!

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,600
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − Depreciation: −$3,636
• Taxable income: $20,126
• Est. tax owed @ 24.0%: −$4,830
• After-tax cash flow: $16,088/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations, including new flooring, paint, windows, and HVAC, to become move-in ready and increase its value.

Repairs flagged

• Major Hardwood flooring — Severe wear and tear
• Major Paint — Peeling and damaged
• Major Windows — Poor condition
• Major HVAC — No photos of HVAC

Value-add opportunities

• Both New flooring — Improves aesthetics and functionality
• Both New paint — Enhances curb appeal and interior aesthetics
• Both New windows — Improves energy efficiency and aesthetics
• Both New HVAC — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Hardwood flooring · Severe wear and tear	Major	$15,000–50,000
Paint · Peeling and damaged	Major	$15,000–50,000
Windows · Poor condition	Major	$15,000–50,000
HVAC · No photos of HVAC	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both New flooring — Improves aesthetics and functionality ↑
• Both New paint — Enhances curb appeal and interior aesthetics ↑
• Both New windows — Improves energy efficiency and aesthetics ↑
• Both New HVAC — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-20 Listed $125,000 BRIGHT MLS