1061 S Little Creek Rd #200 · Dover, DE 19901

$80,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 98 Days on market

Built 1989 $49/sqft · 74% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well‑designed 3-bedroom, 2-bath double‑wide mobile home offers a generous and functional layout suitable for a variety of living needs. The home features both a living room and a separate family room, providing multiple spaces for daily activities, work, or entertainment. The kitchen and common areas flow comfortably, creating an easy environment for everyday routines. A storage shed is included, offering additional room for tools, seasonal items, or general storage. Property is being sold in AS IS condition. Buyer must be approved by the park prior to submitting an offer.

Key facts

• Kitchen
• Living room
• Family room

Tags

• LIVING ROOM
• FAMILY ROOM
• KITCHEN
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 23.1% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.0%/yr); 184 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.53% ✓
• Cap rate: 23.13%
• Cash-on-cash: 60.13%
• DSCR: 3.68
• GRM: 3.3

CMA / ARV

• ARV (median comp): $304,197
• List price: $80,000
• Delta: -73.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 57.8%
• Equity multiple: 3.52×
• Total profit: $56,549
• Equity at exit: $11,928

10-year hold

• IRR: 62.3%
• Equity multiple: 6.95×
• Total profit: $133,350
• Equity at exit: $6,917

Cash invested: $22,400 (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 19901

• Rents YoY: 2.0%
• Active inventory: 184
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,025 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$24 /mo · $293/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $1,122

Break-even live

Break-even rent $604

Max offer price $80,000

Occupancy floor 40%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
480 Country Dr Dover, DE	3.0	1.0–2.0	715	$1,875	$2.62	43d	22	0.35mi
205 Fairfax Ln Dover, DE	3.0	2.5	1428	$1,975	$1.38	43d	1	0.38mi
203 Fairfax Ln Dover, DE	3.0	2.5	1428	$1,975	$1.38	43d	1	0.38mi
104 Bayard Ave Dover, DE	3.0	2.5	2168	$2,350	$1.08	43d	1	1.00mi

Listing history 15 events

1. 2026-06-17
   status $80,000 Pending 98 DOM
2. 2026-06-17
   days on market $80,000 Active 98 DOM
3. 2026-06-16
   days on market $80,000 Active 97 DOM
4. 2026-06-15
   days on market $80,000 Active 96 DOM
5. 2026-06-14
   days on market $80,000 Active 94 DOM
6. 2026-06-13
   days on market $80,000 Active 93 DOM
7. 2026-06-10
   days on market $80,000 Active 91 DOM
8. 2026-06-09
   days on market $80,000 Active 90 DOM
9. 2026-06-08
   days on market $80,000 Active 89 DOM
10. 2026-06-07
    days on market $80,000 Active 88 DOM
11. 2026-06-02
    days on market $80,000 Active 83 DOM
12. 2026-06-01
    days on market $80,000 Active 82 DOM
13. 2026-05-31
    days on market $80,000 Active 81 DOM
14. 2026-05-30
    days on market $80,000 Active 80 DOM
15. 2026-03-11
    listed $85,000 Active 584-char remark

    Show marketing remark (584 chars)

    This well‑designed 3-bedroom, 2-bath double‑wide mobile home offers a generous and functional layout suitable for a variety of living needs. The home features both a living room and a separate family room, providing multiple spaces for daily activities, work, or entertainment. The kitchen and common areas flow comfortably, creating an easy environment for everyday routines. A storage shed is included, offering additional room for tools, seasonal items, or general storage. Property is being sold in AS IS condition. Buyer must be approved by the park prior to submitting an offer.

ⓘ 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: $293 · $24/mo
• Projected year-2 tax: $379 · $32/mo
• Expected delta: +$85/yr (+$7/mo · 29.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,299
• − Mortgage interest: −$4,481
• − Property taxes: −$293
• − Insurance: −$400
• − Repairs & maintenance: −$1,944
• − Management: −$1,944
• − Depreciation: −$2,327
• Taxable income: $12,910
• Est. tax owed @ 24.0%: −$3,098
• After-tax cash flow: $10,370/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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• Metro: Dover, DE
• Population (ZIP): 37,763
• Household income: $66,388
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1320.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 34% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.29%
• Current HPI: 199.5132
• Rent YoY: ▲ 2.03%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-11 Listed $85,000 BRIGHT MLS

Property tax history

-3.0%/yr

Latest (2025): $293 · +3.5% YoY. Source: county tax records.