837 W 4th St · Wilmington, DE 19801

$375,000

4 bd · 2.5 ba · 2,268 sqft · MultiFamily · 106 Days on market

Built 1983 Good condition 871 sqft lot $165/sqft · 13% above area Est $332k · 13% 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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

Key facts

• Built 1983
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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.
• 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $4,992/mo this rent would consume 113% 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 $3k of loan paydown is wiped out by about $11k 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 + 1.6% rent growth), your $105k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $341,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.45%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $331,616
• List price: $375,000
• Delta: 13.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Friend Ct	0.28mi	4/3.5	2,225 (-2%)	1mo	$354,000	$159	79
802 W 9th St	0.31mi	3/3.0 (-1)	2,150 (-5%)	2mo	$335,000	$156	68
906 N Madison St	0.37mi	4/—	2,500 (+10%)	4mo	$370,000	$148	63
804 N Van Buren St	0.27mi	3/— (-1)	2,100 (-7%)	10mo	$400,000	$190	62
513 N Broom St	0.40mi	5/3.0 (+1)	2,425 (+7%)	14mo	$425,000	$175	51
613 W 10th St	0.42mi	4/3.0	2,575 (+14%)	21mo	$308,000	$120	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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $18,443
• Equity at exit: $55,914

10-year hold

• IRR: 12.7%
• Equity multiple: 1.95×
• Total profit: $99,399
• Equity at exit: $32,423

Cash invested: $105,000 (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: 18.8×

Monthly cashflow live

• Estimated rent: $4,992 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,048
• Net cashflow: $1,352

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 68%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,992
Total (3 units)			$4,992

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 N Orange St Wilmington, DE	3.0	1.0–3.0	1118	$3,991	$3.57	2d	117	0.45mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	18d	1	0.67mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	43d	1	0.69mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	5d	1	0.74mi
1913 W 2nd St Unit 1913 Wilmington, DE	5.0	1.5	1675	$2,050	$1.22	43d	1	0.80mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	43d	1	1.28mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	1.33mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	43d	1	1.42mi

Listing history 29 events

1. 2026-06-18
   days on market $375,000 Active 106 DOM
2. 2026-06-17
   pricedays on market $375,000 Active 105 DOM
3. 2026-06-16
   days on market $380,000 Active 104 DOM
4. 2026-06-15
   days on market $380,000 Active 103 DOM
5. 2026-06-13
   days on market $380,000 Active 101 DOM
6. 2026-06-13
   days on market $380,000 Active 100 DOM
7. 2026-06-09
   days on market $380,000 Active 97 DOM
8. 2026-06-08
   days on market $380,000 Active 96 DOM
9. 2026-06-07
   days on market $380,000 Active 95 DOM
10. 2026-06-04
    days on market $380,000 Active 92 DOM
11. 2026-06-03
    days on market $380,000 Active 91 DOM
12. 2026-06-02
    days on market $380,000 Active 90 DOM
13. 2026-06-01
    days on market $380,000 Active 89 DOM
14. 2026-05-31
    days on market $380,000 Active 88 DOM
15. 2026-05-12
    price $380,000 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

16. 2026-05-05
    price $385,000 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

17. 2026-04-28
    price $390,000 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

18. 2026-04-21
    price $395,000 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

19. 2026-03-05
    listed $400,000 Active 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

20. 2026-03-04
    historical $400,000 2943-char remark

    Show marketing remark (2943 chars)

    Cash-flow investment opportunity. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an excellent opportunity for a first-floor (previously salon) along with two 2-bedroom apartments. Total rents are approximately $4,000 per month, creating strong income potential for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor was previously a hair salon and is very nicely laid out. A highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Upon entering the apartment, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor and is currently vacant. The unit has just been painted, updated with new flooring, and refreshed, making it ready for a new tenant. Estimated rent is $1,200 per month. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.

21. 2021-11-01
    status Pending
22. 2021-11-01
    historical
23. 2021-10-29
    status Active
24. 2021-07-29
    status Pending
25. 2021-07-27
    status Active
26. 2021-06-16
    status Pending
27. 2021-04-23
    status Active
28. 2021-04-11
    historical
29. 2021-03-30
    listed $175,000 Active

ⓘ 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: $59,904
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,792
• − Management: −$4,792
• − Depreciation: −$10,909
• Taxable income: $10,904
• Est. tax owed @ 24.0%: −$2,617
• After-tax cash flow: $13,609/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 · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with recent updates. It offers a strong rental history and is ready for a new owner to enhance its curb appeal and value through minor improvements.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value.
• Both Deep clean carpets — Improves indoor air quality and aesthetics.
• Both Replace window treatments — Enhances curb appeal and natural light inside.
• Both Upgrade lighting fixtures — Improves energy efficiency and aesthetics.
• Both Install smart home devices — Enhances convenience and energy efficiency for tenants and potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value. ↑
• Both Deep clean carpets — Improves indoor air quality and aesthetics. ↑
• Both Replace window treatments — Enhances curb appeal and natural light inside. ↑
• Both Upgrade lighting fixtures — Improves energy efficiency and aesthetics. ↑
• Both Install smart home devices — Enhances convenience and energy efficiency for tenants and potential buyers. ↑

ⓘ 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: 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

+117.1% since first listed

15 events — show timeline

• 2026-05-12 Price Changed $380,000 BRIGHT MLS
• 2026-05-05 Price Changed $385,000 BRIGHT MLS
• 2026-04-28 Price Changed $390,000 BRIGHT MLS
• 2026-04-21 Price Changed $395,000 BRIGHT MLS
• 2026-03-05 Listed $400,000 BRIGHT MLS
• 2026-03-04 Coming Soon $400,000 BRIGHT MLS
• 2021-11-01 Pending — BRIGHT MLS
• 2021-11-01 Listing Removed — BRIGHT MLS
• 2021-10-29 Relisted — BRIGHT MLS
• 2021-07-29 Pending — BRIGHT MLS
• 2021-07-27 Relisted — BRIGHT MLS
• 2021-06-16 Pending — BRIGHT MLS
• 2021-04-23 Relisted — BRIGHT MLS
• 2021-04-11 Listing Removed — BRIGHT MLS
• 2021-03-30 Listed $175,000 BRIGHT MLS