120 N Connell St · Wilmington, DE 19805

$129,999

4 bd · 1.0 ba · 1,100 sqft · Townhouse public records · 117 Days on market

Built 1920 1,307 sqft lot $118/sqft · 14% below area Est $151k · 14% 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 +13.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! Unique 3 bedroom, 1 bath property in the City. Convenient location minutes from I-95. Good rental history. Unit is currently occupied. Rent roll available upon request. Property is being sold as-is condition, no repairs. Tenant requires 48 hour notice for all showings. No photos are in the internet for the resident's privacy.

Key facts

• Built 1920
• Listed 116 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 5.6% 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.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 167 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 40% of the median local income ($60k/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 $899 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 + 6.3% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 8 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 $76k; list at $130k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $118,299 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 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 1920 — 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: 1.53% ✓
• Cap rate: 13.57%
• Cash-on-cash: 25.99%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (median comp): $150,881
• List price: $129,999
• Delta: -13.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 Lancaster Ave	0.05mi	4/2.0	1,200 (+9%)	1mo	$250,000	$208	78
302 S Franklin St	0.19mi	3/1.0 (-1)	1,150 (+4%)	1mo	$117,000	$102	78
227 S Union St	0.54mi	3/1.0 (-1)	1,075 (-2%)	1mo	$180,000	$167	65
1213 W 3rd St	0.13mi	3/1.5 (-1)	1,250 (+14%)	1mo	$215,000	$172	64
519 S Jackson St	0.39mi	3/1.0 (-1)	1,200 (+9%)	1mo	$186,000	$155	61
444 Geddes St	0.62mi	3/1.5 (-1)	1,125 (+2%)	2mo	$330,000	$293	59
1016 Clayton Rd	0.66mi	3/1.0 (-1)	1,150 (+4%)	1mo	$219,000	$190	56
236 N Monroe St	0.40mi	3/1.5 (-1)	1,250 (+14%)	1mo	$180,000	$144	50
1715 Sycamore St	0.45mi	3/1.0 (-1)	1,260 (+14%)	1mo	$241,000	$191	49
400 Geddes St	0.58mi	3/1.5 (-1)	1,225 (+11%)	0mo	$337,500	$276	47
461 S Sycamore St	0.72mi	3/1.0 (-1)	1,000 (-9%)	1mo	$250,000	$250	45
2042 Clark St	0.74mi	3/1.0 (-1)	1,200 (+9%)	0mo	$335,000	$279	45

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 · 6.35% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 1.99×
• Total profit: $36,035
• Equity at exit: $19,383

10-year hold

• IRR: 33.1%
• Equity multiple: 4.47×
• Total profit: $126,327
• Equity at exit: $11,240

Cash invested: $36,400 (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 19805

• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,989 high
• Mortgage (P&I): −$682
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $788

Break-even live

Break-even rent $991

Max offer price $129,999

Occupancy floor 55%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	11d	1	0.04mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	43d	1	0.09mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	43d	1	0.18mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	0.19mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	3d	1	0.21mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	11d	1	0.22mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	3d	1	0.24mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	43d	1	0.26mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	43d	1	0.46mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	43d	1	0.46mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	24d	1	0.47mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	18d	1	0.47mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	3d	1	0.50mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	3d	1	0.53mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	5d	1	0.54mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	12d	1	0.55mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	43d	1	0.62mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	5d	1	0.65mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	16d	1	0.67mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,975	$1.36	14d	1	0.71mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	18d	1	0.73mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	43d	1	0.74mi
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	0.83mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	14d	1	0.91mi
1601 Bonwood Rd Wilmington, DE	3.0	1.5	1500	$1,850	$1.23	24d	1	1.01mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	43d	1	1.04mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	18d	1	1.12mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	1.31mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	1d	1	1.32mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	1.33mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	1.38mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	1.42mi
205 Western Ave Wilmington, DE	4.0	2.5	1225	$2,300	$1.88	43d	1	1.46mi

Listing history 35 events

1. 2026-06-18
   days on market $129,999 Active 117 DOM
2. 2026-06-17
   days on market $129,999 Active 116 DOM
3. 2026-06-16
   days on market $129,999 Active 115 DOM
4. 2026-06-15
   days on market $129,999 Active 114 DOM
5. 2026-06-13
   days on market $129,999 Active 112 DOM
6. 2026-06-13
   days on market $129,999 Active 111 DOM
7. 2026-06-09
   days on market $129,999 Active 108 DOM
8. 2026-06-08
   days on market $129,999 Active 107 DOM
9. 2026-06-07
   days on market $129,999 Active 106 DOM
10. 2026-06-04
    days on market $129,999 Active 103 DOM
11. 2026-06-03
    days on market $129,999 Active 102 DOM
12. 2026-06-02
    days on market $129,999 Active 101 DOM
13. 2026-06-01
    days on market $129,999 Active 100 DOM
14. 2026-05-31
    days on market $129,999 Active 99 DOM
15. 2026-04-26
    price $129,999 357-char remark

    Show marketing remark (357 chars)

    Great investment opportunity! Unique 3 bedroom, 1 bath property in the City. Convenient location minutes from I-95. Good rental history. Unit is currently occupied. Rent roll available upon request. Property is being sold as-is condition, no repairs. Tenant requires 48 hour notice for all showings. No photos are in the internet for the resident's privacy.

16. 2026-02-21
    listed $135,000 Active 357-char remark

    Show marketing remark (357 chars)

    Great investment opportunity! Unique 3 bedroom, 1 bath property in the City. Convenient location minutes from I-95. Good rental history. Unit is currently occupied. Rent roll available upon request. Property is being sold as-is condition, no repairs. Tenant requires 48 hour notice for all showings. No photos are in the internet for the resident's privacy.

17. 2025-12-02
    price $135,000
18. 2025-12-02
    status Active
19. 2025-12-02
    historical
20. 2025-08-13
    historical
21. 2025-08-13
    listed $130,000 Active
22. 2025-08-12
    historical
23. 2021-04-19
    soldstatus $76,500
24. 2021-04-13
    soldstatus $76,500 Closed
25. 2021-02-07
    historical
26. 2021-02-07
    listed $76,500
27. 2009-10-06
    historical
28. 2009-07-08
    listed $79,900
29. 2009-06-08
    historical
30. 2008-12-10
    listed $95,900
31. 2008-06-27
    historical
32. 2008-01-09
    listed $94,000
33. 2005-08-04
    soldstatus $74,000
34. 2005-04-18
    soldstatus $20,000
35. 2005-04-05
    listed $20,000

ⓘ 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: $562 · $47/mo
• Projected year-2 tax: $658 · $55/mo
• Expected delta: +$96/yr (+$8/mo · 17.1%)

ⓘ 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: $23,865
• − Mortgage interest: −$7,282
• − Property taxes: −$562
• − Insurance: −$650
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$3,782
• Taxable income: $7,771
• Est. tax owed @ 24.0%: −$1,865
• After-tax cash flow: $7,596/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 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): 41,402
• Household income: $60,221
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1730.0

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 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 25% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 1% Arabic 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: ▼ -291.16%
• Current HPI: 259.1455
• Rent YoY: ▲ 6.35%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+550.0% since first listed

21 events — show timeline

• 2026-04-26 Price Changed $129,999 BRIGHT MLS
• 2026-02-21 Listed $135,000 BRIGHT MLS
• 2025-12-02 Price Changed $135,000 BRIGHT MLS
• 2025-12-02 Relisted — BRIGHT MLS
• 2025-12-02 Listing Removed — BRIGHT MLS
• 2025-08-13 Listing Removed — BRIGHT MLS
• 2025-08-13 Listed $130,000 BRIGHT MLS
• 2025-08-12 Coming Soon — BRIGHT MLS
• 2021-04-19 Sold (Public Records) $76,500 Public Records
• 2021-04-13 Sold (MLS) $76,500 BRIGHT MLS
• 2021-02-07 Listed $76,500 BRIGHT MLS
• 2021-02-07 Listing Removed — BRIGHT MLS
• 2009-10-06 Listing Removed — BRIGHT MLS
• 2009-07-08 Listed $79,900 BRIGHT MLS
• 2009-06-08 Listing Removed — BRIGHT MLS
• 2008-12-10 Listed $95,900 BRIGHT MLS
• 2008-06-27 Listing Removed — BRIGHT MLS
• 2008-01-09 Listed $94,000 BRIGHT MLS
• 2005-08-04 Sold (Public Records) $74,000 Public Records
• 2005-04-18 Sold (MLS) $20,000 BRIGHT MLS
• 2005-04-05 Listed $20,000 BRIGHT MLS

Property tax history

+3.7%/yr

Latest (2024): $562 · +15.1% YoY. Source: county tax records.