222 Kiwi Ct #222 · Magnolia, DE 19946

$97,900

3 bd · 2.0 ba · 1,404 sqft · SingleFamily · 517 Days on market

Built 2012 Average condition $70/sqft · 20% below area Est $123k · 20% under ↓ 7% since listing

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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
• Schools +3.0/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

Key facts

• Community pool
• Nearby pond
• Open kitchen concept

Tags

• DOUBLE WIDE MOBILE HOME
• OPEN KITCHEN CONCEPT
• TRANQUILITY OF QUIET STREETS
• NEARBY POND
• COMMUNITY POOL
• BEAUTIFUL BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $98k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.9% vs local median 2.3% in Magnolia — 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 (#51 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment A-, housing B+; Watch: schools F, crime F, amenities F.
• Lake Forest School District (rural): math 26% / reading 44% proficiency, ranked #13 of 26 in DE (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 35% of the median local income ($80k/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 $677 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 517 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $86,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 517 days. Have you received any prior offers? Is the seller open to a 12% 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. Schools are F-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. 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?
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: 2.41% ✓
• Cap rate: 20.86%
• Cash-on-cash: 52.02%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (median comp): $122,632
• List price: $97,900
• Delta: -20.17%
• 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
307 Jean Bradley Cir #314	0.18mi	3/2.0	1,364 (-3%)	4mo	$137,500	$101	83
395 Barefoot Ln	0.21mi	3/2.0	1,512 (+8%)	1mo	$259,000	$171	77
418 Center St #417	0.17mi	3/2.0	1,456 (+4%)	15mo	$42,000	$29	73
25 3rd St #25	0.19mi	3/2.0	1,248 (-11%)	2mo	$50,000	$40	71
103 Barefoot Ln	0.30mi	3/2.0	1,574 (+12%)	1mo	$260,000	$165	65
200 Lake Shore Dr #200	0.06mi	3/2.0	1,248 (-11%)	17mo	$90,000	$72	64
359 Clapham Rd	0.37mi	3/2.0	1,344 (-4%)	20mo	$230,000	$171	59
61 Loquitur Ln #108	0.59mi	3/2.0	1,350 (-4%)	11mo	$72,000	$53	57
72 Coral Ct	0.67mi	4/2.0 (+1)	1,460 (+4%)	8mo	$345,000	$236	50
75 Loquitur Ln #106	0.61mi	3/2.0	1,512 (+8%)	13mo	$107,000	$71	48
12 S Govan Ave	0.47mi	3/2.5	1,580 (+12%)	19mo	$280,000	$177	40
328 Bowers Beach Rd	0.51mi	3/1.5	1,200 (-14%)	21mo	$358,000	$298	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.18×
• Total profit: $59,859
• Equity at exit: $14,597

10-year hold

• IRR: 55.4%
• Equity multiple: 6.46×
• Total profit: $149,728
• Equity at exit: $8,465

Cash invested: $27,412 (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 19946

• Home prices YoY: -16.1%
• Active inventory: 73
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,361 medium
• Mortgage (P&I): −$513
• Tax est. 1.5%: −$122 /mo · $1,468/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $1,188

Break-even live

Break-even rent $856

Max offer price $97,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,256	-5% $1,222	+0% $1,188	+5% $1,155	+10% $1,121
Rent	-10% $1,002	-5% $1,095	+0% $1,188	+5% $1,282	+10% $1,375
Rate	-1.0pp $1,238	-0.5pp $1,213	base $1,188	+0.5pp $1,163	+1.0pp $1,137

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: $24,475
• Closing costs: $2,937
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Willow Dr Frederica, DE	3.0–4.0	2.0	1312	$1,699	$1.29	44d	1	0.16mi

Listing history 26 events

1. 2026-06-19
   days on market $97,900 Active 517 DOM
2. 2026-06-18
   days on market $97,900 Active 516 DOM
3. 2026-06-17
   days on market $97,900 Active 515 DOM
4. 2026-06-16
   days on market $97,900 Active 514 DOM
5. 2026-06-15
   days on market $97,900 Active 513 DOM
6. 2026-06-14
   days on market $97,900 Active 511 DOM
7. 2026-06-13
   days on market $97,900 Active 510 DOM
8. 2026-06-10
   days on market $97,900 Active 508 DOM
9. 2026-06-09
   days on market $97,900 Active 507 DOM
10. 2026-06-08
    days on market $97,900 Active 506 DOM
11. 2026-06-07
    days on market $97,900 Active 505 DOM
12. 2026-06-05
    days on market $97,900 Active 502 DOM
13. 2026-06-03
    days on market $97,900 Active 501 DOM
14. 2026-06-02
    days on market $97,900 Active 500 DOM
15. 2026-06-01
    days on market $97,900 Active 499 DOM
16. 2026-05-31
    days on market $97,900 Active 498 DOM
17. 2026-05-30
    days on market $97,900 Active 497 DOM
18. 2026-03-25
    status Active 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

19. 2026-03-18
    historical 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

20. 2026-03-02
    price $97,900 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

21. 2026-03-02
    status Active 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

22. 2025-12-22
    historical Active Under Contract 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

23. 2025-04-14
    price $99,900 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

24. 2025-02-12
    status Active 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

25. 2025-02-05
    historical Active Under Contract 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

26. 2024-10-26
    listed $105,000 Active 989-char remark

    Show marketing remark (989 chars)

    Back on the market due to buyer's financing falling through. Charming Double Wide Mobile Home in Serene 55+ Community Welcome to your dream retreat! This spacious double wide mobile home features 3 generously sized bedrooms and 2 full bathrooms, perfect for comfortable living. The open kitchen concept is ideal for entertaining, with ample counter space and modern appliances that make cooking a delight. Located in a peaceful 55+ community, you'll enjoy the tranquility of quiet streets of the neighborhood. Take a stroll by the nearby pond, where you can watch the ducks glide by, or unwind by the community pool on sunny days. With quick and easy access to Route 1, you’re just a short drive north to Dover for shops and entertainment, or south to our beautiful beaches. With a welcoming atmosphere and friendly neighbors, this home offers a perfect blend of comfort and leisure. Don’t miss your chance to own this lovely home in a beautiful setting! Schedule a tour today.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,328
• − Mortgage interest: −$5,484
• − Property taxes: −$1,468
• − Insurance: −$490
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$2,848
• Taxable income: $13,506
• Est. tax owed @ 24.0%: −$3,241
• After-tax cash flow: $11,019/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

Average 55/100 Cosmetic rehab

This charming double-wide mobile home in a serene 55+ community is in average condition with minor repairs needed. Updates to paint, cabinets, and fixtures would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Possibly outdated design

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Update bathroom fixtures — Modern fixtures increase appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Possibly outdated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Update bathroom fixtures — Modern fixtures increase appeal and functionality ↑

ⓘ 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: Lake Forest School District
• NCES district ID: 1000790
• Math proficiency: 26% ▼ -23.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $52,034
• Composite: 30.47/100
• National rank: #6225
• State rank: #13 of 26 in DE

Livability — Magnolia

• Score: 64/100
• State rank: #51
• US rank: #13984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 82,184 people
• Metro: Dover, DE
• Population (ZIP): 5,603
• Household income: $80,459
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 128.0

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 0.55)
• Race & ethnicity: White 64% Black 19% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Italian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -36.16%
• Current HPI: 189.0713
• Rent YoY: —
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

-6.8% since first listed

9 events — show timeline

• 2026-03-25 Relisted — BRIGHT MLS
• 2026-03-18 Listing Removed — BRIGHT MLS
• 2026-03-02 Price Changed $97,900 BRIGHT MLS
• 2026-03-02 Relisted — BRIGHT MLS
• 2025-12-22 Contingent — BRIGHT MLS
• 2025-04-14 Price Changed $99,900 BRIGHT MLS
• 2025-02-12 Relisted — BRIGHT MLS
• 2025-02-05 Contingent — BRIGHT MLS
• 2024-10-26 Listed $105,000 BRIGHT MLS