207 Humpsman Dr #181 · Cheswold, DE 19904

$85,000

3 bd · 2.0 ba · 1,088 sqft · SingleFamily · 19 Days on market

Built 2018 Good condition Est $102k · 17% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Move‑in ready 3BR/2BA manufactured home (2018) in the Fox Pointe community. This well‑maintained property features an open layout, comfortable one‑floor living, and comes partially furnished for added convenience. The primary suite includes a full bath, with two additional bedrooms offering flexibility for guests or a home office. Exterior features include off‑street parking, a storage shed, and a low‑maintenance yard. Ideally located near Route 1, shopping, restaurants, and medical facilities, this home provides easy access to everything Dover has to offer.

Key facts

• 2 parking spots
• Built 2018
• Listed 18 days

Property features AI

Finance

• Other: Improvement assessed value listed; Finished above-grade area reported (assessor source)
• Financial info: Ground rent exists (annual payment); Land lease amount $502.86 monthly; Land lease years remaining: 1; Lease considered: No

Exterior

• Parking: Driveway parking; 2 driveway spaces; 2 total garage/parking spaces
• Utilities: Public water; Public sewer; Cable TV available; Phone service available
• Home design: Manufactured home; Single wide mobile type; 66 feet in length; Excellent condition; Land lease ownership interest; Ground rent applies (annual payment; land lease $502.86 monthly; ~1 year lease term remaining); Located in Fox Pointe park; Directions: McKee Rd turn on School Lane, make left at stop sign make 1st left and 2nd right
• Construction: Mixed construction materials; Shingle roof; Above-grade and below-grade structures noted
• Exterior features: Exterior lighting; Outbuilding(s)

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: 3 bedrooms on main level
• Bathrooms: 2 full bathrooms on main level; 2 full bathrooms total
• Heating & cooling: 90% forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Partially furnished; Doors swing inward (accessibility); Living Room; Master Bedroom; Bedroom 3; Kitchen; Laundry; Master Bathroom; Bathroom 1; Bathroom 2
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.9% vs local median 3.1% in Cheswold — 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 62/100 on livability (#62 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dover High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,771 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 225 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/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 $588 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 + 3.3% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.42% ✓
• Cap rate: 20.91%
• Cash-on-cash: 52.21%
• DSCR: 3.32
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $102,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 S Dayflower Ct #57	0.14mi	3/2.0	1,064 (-2%)	2mo	$55,000	$52	88
174 Humpsman Dr #150	0.05mi	3/2.0	1,216 (+12%)	6mo	$85,000	$70	74
86 Piedmont Dr	0.21mi	3/2.0	1,056 (-3%)	15mo	$98,000	$93	73
196 Main St	0.39mi	3/2.0	1,104 (+2%)	10mo	$260,000	$236	71
345 Norway Dr #345	0.48mi	3/2.0	1,216 (+12%)	3mo	$86,500	$71	55
127 Pine Cone Dr #127	0.38mi	3/2.0	1,176 (+8%)	21mo	$111,000	$94	52
36 Pinewood Acres Ave #36	0.52mi	2/2.0 (-1)	1,064 (-2%)	19mo	$67,400	$63	51
25 July Hound Ct	0.20mi	3/2.0	1,248 (+15%)	18mo	$128,900	$103	51
3768 Seven Hickories Rd	0.64mi	2/1.0 (-1)	1,088 (0%)	14mo	$250,000	$230	49
178 Main St	0.38mi	3/2.0	1,248 (+15%)	18mo	$285,000	$228	43
172 Main St	0.38mi	3/2.0	1,248 (+15%)	21mo	$280,000	$224	41
46 Pinewood Acres Ave	0.47mi	2/2.0 (-1)	980 (-10%)	20mo	$55,000	$56	39

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 50.5%
• Equity multiple: 3.22×
• Total profit: $52,835
• Equity at exit: $12,674

10-year hold

• IRR: 56.1%
• Equity multiple: 6.61×
• Total profit: $133,630
• Equity at exit: $7,349

Cash invested: $23,800 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,054 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $1,036

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 45%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $85,000 Active 19 DOM
2. 2026-06-18
   days on market $85,000 Active 18 DOM
3. 2026-06-17
   days on market $85,000 Active 17 DOM
4. 2026-06-16
   days on market $85,000 Active 16 DOM
5. 2026-06-15
   days on market $85,000 Active 15 DOM
6. 2026-06-14
   days on market $85,000 Active 13 DOM
7. 2026-06-13
   days on market $85,000 Active 12 DOM
8. 2026-06-10
   days on market $85,000 Active 10 DOM
9. 2026-06-09
   days on market $85,000 Active 9 DOM
10. 2026-06-08
    days on market $85,000 Active 8 DOM
11. 2026-06-07
    days on market $85,000 Active 7 DOM
12. 2026-06-02
    days on market $85,000 Active 2 DOM
13. 2026-06-01
    statusdays on market $85,000 Active 1 DOM
14. 2026-05-31
    days on market $85,000 Coming Soon 2 DOM
15. 2026-05-29
    historical $85,000

ⓘ 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: $24,653
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,972
• − Management: −$1,972
• − Depreciation: −$2,473
• Taxable income: $11,774
• Est. tax owed @ 24.0%: −$2,826
• After-tax cash flow: $9,601/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 · 1 photo

Good 75/100 Cosmetic rehab

This move-in ready 3BR/2BA manufactured home in Fox Pointe community is in good condition with minimal maintenance needed. Painting the exterior and replacing windows would significantly increase its resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace windows — Improves energy efficiency and resale value
• Both Upgrade HVAC system — Enhances comfort and reduces utility costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace windows — Improves energy efficiency and resale value ↑
• Both Upgrade HVAC system — Enhances comfort and reduces utility costs ↑

ⓘ 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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Cheswold

• Score: 62/100
• State rank: #62
• US rank: #16254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheswold, DE
• County: Kent County · 82,184 people
• City population: 176
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

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 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

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: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-29 Coming Soon $85,000 BRIGHT MLS