222 Kiwi Ct #222 · Frederica, DE 19946

$97,900

3 bd · 2.0 ba · 1,404 sqft · SingleFamily · 567 Days on market

55+ age-restricted 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• 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 20.8% vs local median 5.0% in Frederica — 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 68/100 on livability (#34 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, 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.
• Zoned schools: Lake Forest East Elementary School (math 52% / reading 47%, grade D, #14 of 105 statewide, top 12%, 322 students, 0% FRL); Chipman (W.T.) Middle School (math 24% / reading 45%, grade F, #12 of 36 statewide, top 34%, 965 students, 0% FRL); Lake Forest High School (math 27% / reading 47%, grade F, #16 of 40 statewide, top 38%, 870 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 84 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 567 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 567 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 20.81%
• Cash-on-cash: 51.84%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (median comp): $122,685
• List price: $97,900
• Delta: -20.20%
• 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%)	6mo	$137,500	$101	82
395 Barefoot Ln	0.21mi	3/2.0	1,512 (+8%)	3mo	$259,000	$171	75
418 Center St #417	0.17mi	3/2.0	1,456 (+4%)	17mo	$42,000	$29	72
25 3rd St #25	0.19mi	3/2.0	1,248 (-11%)	3mo	$50,000	$40	70
103 Barefoot Ln	0.30mi	3/2.0	1,574 (+12%)	3mo	$260,000	$165	64
200 Lake Shore Dr #200	0.06mi	3/2.0	1,248 (-11%)	19mo	$90,000	$72	63
359 Clapham Rd	0.37mi	3/2.0	1,344 (-4%)	21mo	$230,000	$171	58
61 Loquitur Ln #108	0.59mi	3/2.0	1,350 (-4%)	12mo	$72,000	$53	56
48 Loquitur Ln #123	0.58mi	3/2.0	1,232 (-12%)	2mo	$71,000	$58	51
72 Coral Ct	0.67mi	4/2.0 (+1)	1,460 (+4%)	10mo	$345,000	$236	49
75 Loquitur Ln #106	0.61mi	3/2.0	1,512 (+8%)	15mo	$107,000	$71	46
12 S Govan Ave	0.47mi	3/2.5	1,580 (+12%)	20mo	$280,000	$177	38

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: 49.8%
• Equity multiple: 3.17×
• Total profit: $59,599
• Equity at exit: $14,597

10-year hold

• IRR: 55.3%
• Equity multiple: 6.44×
• Total profit: $149,167
• 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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 4 under contract
• Months of supply: 4.2 mo (24%/mo absorbed)
• Median asking: $139,999 ($100/sqft)
• Median days on market: 118 d
• This list price: 11% of active listings are priced below it
• ARV vs active asking: -12.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 19946

• Home prices YoY: -16.1%
• Active inventory: 84
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,356 medium
• Mortgage (P&I): −$513
• Tax est. 1.5%: −$122 /mo · $1,468/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $1,184

Break-even live

Break-even rent $856

Max offer price $97,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,252	-5% $1,218	+0% $1,184	+5% $1,150	+10% $1,117
Rent	-10% $998	-5% $1,091	+0% $1,184	+5% $1,277	+10% $1,370
Rate	-1.0pp $1,234	-0.5pp $1,209	base $1,184	+0.5pp $1,159	+1.0pp $1,133

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
• Club membership (one-time): —
• 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	93d	1	0.16mi

Listing history 50 events

1. 2026-08-08
   days on market $97,900 Active 567 DOM
2. 2026-08-07
   days on market $97,900 Active 566 DOM
3. 2026-08-06
   days on market $97,900 Active 565 DOM
4. 2026-08-05
   days on market $97,900 Active 564 DOM
5. 2026-08-04
   days on market $97,900 Active 563 DOM
6. 2026-08-03
   days on market $97,900 Active 562 DOM
7. 2026-07-31
   days on market $97,900 Active 559 DOM
8. 2026-07-29
   days on market $97,900 Active 557 DOM
9. 2026-07-27
   days on market $97,900 Active 555 DOM
10. 2026-07-25
    days on market $97,900 Active 553 DOM
11. 2026-07-23
    days on market $97,900 Active 551 DOM
12. 2026-07-22
    days on market $97,900 Active 550 DOM
13. 2026-07-21
    days on market $97,900 Active 549 DOM
14. 2026-07-18
    days on market $97,900 Active 546 DOM
15. 2026-07-16
    days on market $97,900 Active 544 DOM
16. 2026-07-16
    days on market $97,900 Active 543 DOM
17. 2026-07-14
    days on market $97,900 Active 542 DOM
18. 2026-07-13
    days on market $97,900 Active 541 DOM
19. 2026-07-12
    days on market $97,900 Active 540 DOM
20. 2026-07-11
    days on market $97,900 Active 539 DOM
21. 2026-07-10
    days on market $97,900 Active 538 DOM
22. 2026-07-09
    days on market $97,900 Active 537 DOM
23. 2026-07-08
    days on market $97,900 Active 536 DOM
24. 2026-07-07
    days on market $97,900 Active 535 DOM
25. 2026-07-06
    days on market $97,900 Active 534 DOM
26. 2026-07-05
    days on market $97,900 Active 533 DOM
27. 2026-07-04
    days on market $97,900 Active 532 DOM
28. 2026-07-03
    days on market $97,900 Active 531 DOM
29. 2026-07-02
    days on market $97,900 Active 530 DOM
30. 2026-07-01
    days on market $97,900 Active 529 DOM
31. 2026-06-30
    days on market $97,900 Active 528 DOM
32. 2026-06-29
    days on market $97,900 Active 527 DOM
33. 2026-06-28
    days on market $97,900 Active 526 DOM
34. 2026-06-28
    days on market $97,900 Active 525 DOM
35. 2026-06-27
    days on market $97,900 Active 524 DOM
36. 2026-06-26
    days on market $97,900 Active 523 DOM
37. 2026-06-23
    days on market $97,900 Active 520 DOM
38. 2026-06-21
    days on market $97,900 Active 519 DOM
39. 2026-06-19
    days on market $97,900 Active 517 DOM
40. 2026-06-18
    days on market $97,900 Active 516 DOM
41. 2026-06-17
    days on market $97,900 Active 515 DOM
42. 2026-06-16
    days on market $97,900 Active 514 DOM
43. 2026-06-15
    days on market $97,900 Active 513 DOM
44. 2026-06-14
    days on market $97,900 Active 511 DOM
45. 2026-06-13
    days on market $97,900 Active 510 DOM
46. 2026-06-10
    days on market $97,900 Active 508 DOM
47. 2026-06-09
    days on market $97,900 Active 507 DOM
48. 2026-06-08
    days on market $97,900 Active 506 DOM
49. 2026-06-07
    days on market $97,900 Active 505 DOM
50. 2026-06-05
    days on market $97,900 Active 502 DOM

ⓘ 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: $28,266
• − Mortgage interest: −$5,484
• − Property taxes: −$1,468
• − Insurance: −$490
• − Repairs & maintenance: −$2,261
• − Management: −$2,261
• − Depreciation: −$2,848
• Taxable income: $13,454
• Est. tax owed @ 24.0%: −$3,229
• After-tax cash flow: $10,983/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 Est. rehab $7,020–$21,060 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Lake Forest East Elementary School D DE #14/105 Nat'l #12,785/41,679 Middle Chipman (W.t.) Middle School F DE #12/36 Nat'l #7,581/14,009 High Lake Forest High School F DE #16/40 Nat'l #9,001/17,239

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

C Composite livability gradescore 68/100

Livability — Frederica

• Score: 68/100
• State rank: #34
• US rank: #9737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 194,477 people
• City population: 5,603
• Metro: Dover, DE
• Population (ZIP): 5,603
• Household income: $80,459
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 6% of renters

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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%

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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%

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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