33 Pepperwood Ln · Bear, DE 19701

$299,000

3 bd · 1.5 ba · 1,150 sqft · Townhouse public records · 10 Days on market

Built 1991 2,614 sqft lot Est $271k · 10% over $8/mo HOA

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Why this score? — see what drove the F 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 +12.2/30.0
• Rent growth +4.8/5.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• ARV discount +2.9/15.0
• 1% rule +2.6/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Brick front townhome in desireable Bear location, This home features 3 bedrooms 1.5 baths, a finished basement with 2 seperate rooms and a large open kitchen. .. Many recent updates including new berber in the living room and updated kitchen floor, 5 1/4 inch baseboards in the living room, nice slider leading to a deck with fenced in yard. A great house in a great location for under 180k. ..

Key facts

• $8 HOA
• 3 parking spots
• Built 1991

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $299k.

Deal economics

• At list price, monthly cash flow is $-58 ($-699/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.9% below list).
• Recommended offer: $228k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.7% in Bear — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, amenities F, commute 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: Shue-Medill Middle School (math 21% / reading 30%, grade F, #21 of 36 statewide, top 57%, 808 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.
• Zoned-school proficiency averages 42% at this address vs 28% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Christina School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+9.0%/yr); 111 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $9k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $175k; list at $299k implies a 71% 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,651 (23.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $271,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Silktree Ct	0.07mi	3/1.5	1,150 (0%)	5mo	$310,500	$270	93
1 Sequoia Ct	0.05mi	3/1.5	1,250 (+9%)	5mo	$305,000	$244	79
6 Ross	0.48mi	2/1.5 (-1)	1,125 (-2%)	1mo	$265,000	$236	69
308 Palmerston Ct	0.38mi	2/2.5 (-1)	1,150 (0%)	6mo	$280,000	$243	68
3 Warren Pl	0.54mi	2/1.5 (-1)	1,125 (-2%)	1mo	$268,500	$239	66
27 Stephanie Dr	0.12mi	3/2.5	1,300 (+13%)	9mo	$250,000	$192	61
3 Arnold Pl	0.48mi	2/2.5 (-1)	1,175 (+2%)	9mo	$261,000	$222	58
8 Revere Pl	0.45mi	2/2.5 (-1)	1,200 (+4%)	9mo	$274,000	$228	55
11 Schuyler Ct	0.48mi	2/1.5 (-1)	1,256 (+9%)	4mo	$270,000	$215	54
29 Victoria Blvd	0.36mi	2/1.5 (-1)	1,300 (+13%)	6mo	$278,000	$214	51
3 Ross Ct	0.47mi	2/1.5 (-1)	1,256 (+9%)	8mo	$260,000	$207	51
18 S Merriment Dr	0.64mi	3/2.5	1,275 (+11%)	9mo	$310,000	$243	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.52×
• Total profit: $-40,222
• Equity at exit: $44,582

10-year hold

• IRR: 2.0%
• Equity multiple: 1.17×
• Total profit: $14,574
• Equity at exit: $25,852

Cash invested: $83,720 (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: 111
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,277 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$156 /mo · $1,873/yr
• Insurance: −$125
• HOA: −$8
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-58

Break-even live

Break-even rent $2,350

Max offer price $288,716

Occupancy floor 98%

Sensitivity live

Price	-10% $111	-5% $26	+0% $-58	+5% $-143	+10% $-227
Rent	-10% $-238	-5% $-148	+0% $-58	+5% $32	+10% $122
Rate	-1.0pp $92	-0.5pp $18	base $-58	+0.5pp $-136	+1.0pp $-215

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 Blackbird Dr Bear, DE	3.0	1.5	1150	$2,100	$1.83	45d	1	0.08mi
9000 Rembrandt Cir Newark, DE	1.0–2.0	1.0–2.0	855	$1,772	$2.07	23d	1	0.46mi
4 Arnold Pl Newark, DE	2.0	2.5	1225	$2,500	$2.04	45d	1	0.47mi
13 Farland Way Newark, DE	3.0	1.5	1175	$2,100	$1.79	6d	1	0.51mi
13 Farland Way Newark, DE	3.0	2.0	1175	$2,100	$1.79	25d	1	0.51mi
104 Sandburg Pl Newark, DE	3.0	2.0	1368	$1,889	$1.38	45d	1	0.69mi
104 Sandburg Pl Newark, DE	2.0	2.0	1080	$1,659	$1.54	14d	1	0.69mi
35 Honeysuckle Dr Newark, DE	3.0	1.5	1250	$2,400	$1.92	18d	1	0.76mi
13 Honeysuckle Dr Newark, DE	3.0	2.0	1300	$2,300	$1.77	45d	1	0.86mi
100 N Barrett Ln Newark, DE	2.0–3.0	2.5	1430	$2,550	$1.78	0d	2	0.86mi
1704 Barnaby St Newark, DE	3.0	2.5	1375	$1,845	$1.34	45d	1	1.15mi
182 Darling St Newark, DE	3.0	2.5	1345	$2,450	$1.82	45d	1	1.23mi
270 Brandywine Dr Bear, DE	1.0–2.0	1.0–2.0	1015	$2,295	$2.26	0d	1	1.25mi
816 Lawrence Dr Newark, DE	2.0	1.0–2.0	636	$1,802	$2.83	0d	9	1.28mi
325 Barley Dr Newark, DE	2.0	1.5	1000	$1,675	$1.68	25d	1	1.31mi
157 Channing Dr Bear, DE	3.0	1.5	1075	$1,960	$1.82	6d	1	1.37mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 10 events

1. 2026-03-18
   status Pending
2. 2026-03-09
   listed $299,000 Active
3. 2026-03-06
   historical $299,000
4. 2006-08-02
   soldstatus $175,000
5. 2006-07-28
   soldstatus $175,000 400-char remark

   Show marketing remark (400 chars)

   Great Brick front townhome in desireable Bear location, This home features 3 bedrooms 1.5 baths, a finished basement with 2 seperate rooms and a large open kitchen. .. Many recent updates including new berber in the living room and updated kitchen floor, 5 1/4 inch baseboards in the living room, nice slider leading to a deck with fenced in yard. A great house in a great location for under 180k. ..

6. 2006-06-01
   historical 400-char remark

   Show marketing remark (400 chars)

   Great Brick front townhome in desireable Bear location, This home features 3 bedrooms 1.5 baths, a finished basement with 2 seperate rooms and a large open kitchen. .. Many recent updates including new berber in the living room and updated kitchen floor, 5 1/4 inch baseboards in the living room, nice slider leading to a deck with fenced in yard. A great house in a great location for under 180k. ..

7. 2006-04-30
   listed $175,000 400-char remark

   Show marketing remark (400 chars)

   Great Brick front townhome in desireable Bear location, This home features 3 bedrooms 1.5 baths, a finished basement with 2 seperate rooms and a large open kitchen. .. Many recent updates including new berber in the living room and updated kitchen floor, 5 1/4 inch baseboards in the living room, nice slider leading to a deck with fenced in yard. A great house in a great location for under 180k. ..

8. 2005-06-30
   soldstatus $160,000 221-char remark

   Show marketing remark (221 chars)

   Perfect brick front townhome with new carpet, deck, shed, three upper level bedrooms and a finished basement. Perfect location and condition. Upgraded kitchen, first floor powder room, fenced yard and the list goes on. ..

9. 2005-06-06
   listed $160,000 221-char remark

   Show marketing remark (221 chars)

   Perfect brick front townhome with new carpet, deck, shed, three upper level bedrooms and a finished basement. Perfect location and condition. Upgraded kitchen, first floor powder room, fenced yard and the list goes on. ..

10. 1992-12-01
    soldstatus $81,990

ⓘ 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: $1,873 · $156/mo
• Projected year-2 tax: $1,873 · $156/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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,318
• − Mortgage interest: −$16,749
• − Property taxes: −$1,873
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$96
• − Depreciation: −$8,698
• Taxable loss: −$5,964
• Est. tax savings @ 24.0%: +$1,431
• After-tax cash flow: $733/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

• 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

+264.7% since first listed

10 events — show timeline

• 2026-03-18 Pending — BRIGHT MLS
• 2026-03-09 Listed $299,000 BRIGHT MLS
• 2026-03-06 Coming Soon $299,000 BRIGHT MLS
• 2006-08-02 Sold (Public Records) $175,000 Public Records
• 2006-07-28 Sold (MLS) $175,000 BRIGHT MLS
• 2006-06-01 Listing Removed — BRIGHT MLS
• 2006-04-30 Listed $175,000 BRIGHT MLS
• 2005-06-30 Sold (MLS) $160,000 BRIGHT MLS
• 2005-06-06 Listed $160,000 BRIGHT MLS
• 1992-12-01 Sold (Public Records) $81,990 Public Records

Property tax history

+1.5%/yr

Latest (2024): $1,873 · +3.4% YoY. Source: county tax records.