607 N Monroe St · Wilmington, DE 19801

$179,900

4 bd · 1.0 ba · 1,225 sqft · Townhouse public records · 115 Days on market

Built 1879 1,742 sqft lot $147/sqft · 22% above area Est $148k · 22% over

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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 +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +6.2/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great property for the investor who is looking to add to their portfolio or the buyer looking for a project. Open front porch overlooks the park located across the street. Enter into living room which overlooks the dining room. Head back to the spacious kitchen. Upstairs are 3 decent sized bedrooms and a full bath. Lower level offers great storage space. Home is ready for the next owner's creative thoughts and ideas! Home is to be conveyed in AS IS condition.

Key facts

• New heater
• Renovation
• New washer

Tags

• RENOVATION
• NEW WASHER
• NEW DRYER
• NEW WINDOWS
• NEW HEATER
• NEW FENCE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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+, schools D, commute D.
• 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 (+1.6%/yr); 75 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $2,013/mo this rent would consume 46% 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 115 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $180k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1879 — 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 $163,709 (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. Built in 1879 — 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 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. 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: 1.12% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (median comp): $147,774
• List price: $179,900
• Delta: 21.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 N Monroe St	0.21mi	3/1.5 (-1)	1,250 (+2%)	1mo	$180,000	$144	79
1213 W 3rd St	0.34mi	3/1.5 (-1)	1,250 (+2%)	1mo	$215,000	$172	73
1301 Lancaster Ave	0.46mi	4/2.0	1,200 (-2%)	1mo	$250,000	$208	71
1212 N Tatnall St	0.53mi	3/1.0 (-1)	1,275 (+4%)	0mo	$165,000	$129	63
519 S Jackson St	0.61mi	3/1.0 (-1)	1,200 (-2%)	1mo	$186,000	$155	62
302 S Franklin St	0.56mi	3/1.0 (-1)	1,150 (-6%)	1mo	$117,000	$102	58
414 S Franklin St	0.63mi	3/1.5 (-1)	1,175 (-4%)	2mo	$182,500	$155	55
1029 Clifford Brown Walk	0.74mi	4/1.5	1,175 (-4%)	2mo	$30,000	$26	55
1210 Elm St	0.54mi	3/2.0 (-1)	1,300 (+6%)	1mo	$200,000	$154	55
1018 Trenton Pl	0.30mi	3/1.5 (-1)	1,400 (+14%)	1mo	$274,000	$196	54
1610 W 10th St	0.64mi	3/1.5 (-1)	1,300 (+6%)	2mo	$335,000	$258	52
422 S Broom St	0.68mi	3/2.0 (-1)	1,400 (+14%)	1mo	$299,900	$214	34

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $168
• Equity at exit: $26,824

10-year hold

• IRR: 8.3%
• Equity multiple: 1.60×
• Total profit: $30,106
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$943
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $506

Break-even live

Break-even rent $1,373

Max offer price $179,900

Occupancy floor 70%

Sensitivity live

Price	-10% $607	-5% $557	+0% $506	+5% $455	+10% $404
Rent	-10% $347	-5% $426	+0% $506	+5% $585	+10% $665
Rate	-1.0pp $596	-0.5pp $551	base $506	+0.5pp $459	+1.0pp $412

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	44d	1	0.05mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	0.12mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	0.21mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	17d	1	0.32mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	4d	1	0.32mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	25d	1	0.33mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	44d	1	0.35mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	3d	117	0.40mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	12d	1	0.43mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	44d	1	0.51mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	4d	1	0.54mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	44d	1	0.59mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	4d	1	0.61mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	44d	1	0.62mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	12d	1	0.63mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	19d	1	0.69mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	44d	1	0.69mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	4d	1	0.78mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	25d	1	0.89mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	25d	1	0.90mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	0.91mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	0d	1	0.91mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	18d	1	0.92mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	44d	1	0.92mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	19d	1	0.97mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	2d	1	1.01mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	6d	1	1.03mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,975	$1.36	0d	1	1.04mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	19d	1	1.10mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	44d	1	1.14mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	44d	1	1.16mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	44d	1	1.25mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	0d	1	1.27mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	44d	1	1.28mi
1601 Bonwood Rd Wilmington, DE	3.0	1.5	1500	$1,850	$1.23	25d	1	1.31mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	16d	1	1.34mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	25d	1	1.41mi

Listing history 38 events

1. 2026-06-21
   days on market $179,900 Active 115 DOM
2. 2026-06-18
   days on market $179,900 Active 112 DOM
3. 2026-06-17
   days on market $179,900 Active 111 DOM
4. 2026-06-16
   days on market $179,900 Active 110 DOM
5. 2026-06-15
   days on market $179,900 Active 109 DOM
6. 2026-06-13
   days on market $179,900 Active 107 DOM
7. 2026-06-13
   days on market $179,900 Active 106 DOM
8. 2026-06-09
   days on market $179,900 Active 103 DOM
9. 2026-06-08
   days on market $179,900 Active 102 DOM
10. 2026-06-07
    days on market $179,900 Active 101 DOM
11. 2026-06-04
    days on market $179,900 Active 98 DOM
12. 2026-06-03
    days on market $179,900 Active 97 DOM
13. 2026-06-02
    days on market $179,900 Active 96 DOM
14. 2026-06-01
    days on market $179,900 Active 95 DOM
15. 2026-05-31
    days on market $179,900 Active 94 DOM
16. 2026-05-18
    historical
17. 2026-05-14
    price $179,900
18. 2026-04-08
    price $184,900
19. 2026-03-20
    price $194,900
20. 2026-02-18
    listed $199,900 Active
21. 2025-11-10
    soldstatus $80,000
22. 2025-11-06
    soldstatus $80,000 Closed 463-char remark

    Show marketing remark (463 chars)

    Great property for the investor who is looking to add to their portfolio or the buyer looking for a project. Open front porch overlooks the park located across the street. Enter into living room which overlooks the dining room. Head back to the spacious kitchen. Upstairs are 3 decent sized bedrooms and a full bath. Lower level offers great storage space. Home is ready for the next owner's creative thoughts and ideas! Home is to be conveyed in AS IS condition.

23. 2025-10-14
    status Pending 463-char remark

    Show marketing remark (463 chars)

    Great property for the investor who is looking to add to their portfolio or the buyer looking for a project. Open front porch overlooks the park located across the street. Enter into living room which overlooks the dining room. Head back to the spacious kitchen. Upstairs are 3 decent sized bedrooms and a full bath. Lower level offers great storage space. Home is ready for the next owner's creative thoughts and ideas! Home is to be conveyed in AS IS condition.

24. 2025-09-22
    listed $90,000 Active 463-char remark

    Show marketing remark (463 chars)

    Great property for the investor who is looking to add to their portfolio or the buyer looking for a project. Open front porch overlooks the park located across the street. Enter into living room which overlooks the dining room. Head back to the spacious kitchen. Upstairs are 3 decent sized bedrooms and a full bath. Lower level offers great storage space. Home is ready for the next owner's creative thoughts and ideas! Home is to be conveyed in AS IS condition.

25. 2015-11-20
    soldstatus $14,005
26. 2015-11-20
    soldstatus $14,005 Sold
27. 2015-10-08
    status Under Contract
28. 2015-10-05
    historical
29. 2015-08-26
    price $32,500
30. 2015-07-29
    price $36,000
31. 2015-06-24
    listed $39,500 Active
32. 2015-06-23
    listed $32,500
33. 2002-02-28
    soldstatus $37,000
34. 2002-02-12
    historical
35. 2001-12-04
    listed $37,000
36. 1998-05-18
    historical
37. 1998-04-22
    listed $15,000
38. 1981-03-01
    soldstatus $11,000

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $918 · $76/mo
• Expected delta: +$125/yr (+$10/mo · 15.8%)

ⓘ 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 ≥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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,152
• − Mortgage interest: −$10,077
• − Property taxes: −$793
• − Insurance: −$900
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$5,233
• Taxable income: $3,285
• Est. tax owed @ 24.0%: −$788
• After-tax cash flow: $5,279/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 — 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

+1535.5% since first listed

23 events — show timeline

• 2026-05-18 Listing Removed — BRIGHT MLS
• 2026-05-14 Price Changed $179,900 BRIGHT MLS
• 2026-04-08 Price Changed $184,900 BRIGHT MLS
• 2026-03-20 Price Changed $194,900 BRIGHT MLS
• 2026-02-18 Listed $199,900 BRIGHT MLS
• 2025-11-10 Sold (Public Records) $80,000 Public Records
• 2025-11-06 Sold (MLS) $80,000 BRIGHT MLS
• 2025-10-14 Pending — BRIGHT MLS
• 2025-09-22 Listed $90,000 BRIGHT MLS
• 2015-11-20 Sold (MLS) $14,005 TREND
• 2015-11-20 Sold (MLS) $14,005 BRIGHT MLS
• 2015-10-08 Pending — TREND
• 2015-10-05 Listing Removed — BRIGHT MLS
• 2015-08-26 Price Changed $32,500 TREND
• 2015-07-29 Price Changed $36,000 TREND
• 2015-06-24 Listed $39,500 TREND
• 2015-06-23 Listed $32,500 BRIGHT MLS
• 2002-02-28 Sold (MLS) $37,000 BRIGHT MLS
• 2002-02-12 Listing Removed — BRIGHT MLS
• 2001-12-04 Listed $37,000 BRIGHT MLS
• 1998-05-18 Listing Removed — BRIGHT MLS
• 1998-04-22 Listed $15,000 BRIGHT MLS
• 1981-03-01 Sold (Public Records) $11,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $793 · +2.6% YoY. Source: county tax records.