1103 Elm St · Wilmington, DE 19805

$120,000

3 bd · 1.0 ba · 1,075 sqft · Townhouse public records · 13 Days on market

Built 1900 1,307 sqft lot Est $224k · 46% 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
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover a prime investment opportunity in this charming 3-bedroom, 1-bathroom townhouse built in 1900. With 1,075 sq. ft. of potential, this property offers a solid foundation for rental income or future resale. The full basement provides additional storage. Situated on a compact 0.03-acre lot, this brick structure boasts low maintenance costs, making it an attractive option for investors seeking to maximize returns. On-street parking adds convenience. Located in a vibrant area with potential for appreciation, this property is ideal for those looking to capitalize on the growing rental market. With a little renovation, you can increase its appeal and rental value, ensuring a strong return

Key facts

• On-street parking
• Brick structure
• Full basement

Tags

• FULL BASEMENT
• ON-STREET PARKING
• BRICK STRUCTURE
• LOW MAINTENANCE COSTS
• GROWING RENTAL MARKET

Property features AI

Finance

• Financial info: Assessed improvements value: $112,200; Assessed land value: $42,000; Tax assessed value: $154,200; Tax year 2025

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Flat roof; Brick exterior; Fee simple ownership; Year built: estimated
• Construction: Stone foundation
• Exterior features: Municipal trash service; Located in city limits; Directions: North Franklin to Elm

Interior

• Bedrooms: 3 bedrooms on the first upper level
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating and hot water
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 13.2% 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 fast (+6.3%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 37% 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 $830 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $120k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $120,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 13.24%
• Cash-on-cash: 24.81%
• DSCR: 2.10
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $223,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 S Franklin St	0.10mi	3/1.0	1,150 (+7%)	1mo	$117,000	$102	83
414 S Franklin St	0.14mi	3/1.5	1,175 (+9%)	2mo	$182,500	$155	74
519 S Jackson St	0.17mi	3/1.0	1,200 (+12%)	1mo	$186,000	$155	72
227 S Union St	0.66mi	3/1.0	1,075 (0%)	1mo	$180,000	$167	69
1301 Lancaster Ave	0.17mi	4/2.0 (+1)	1,200 (+12%)	1mo	$250,000	$208	63
1016 Clayton Rd	0.57mi	3/1.0	1,150 (+7%)	1mo	$219,000	$190	61
918 Wright St	0.47mi	2/1.0 (-1)	975 (-9%)	1mo	$125,000	$128	57
444 Geddes St	0.70mi	3/1.5	1,125 (+5%)	2mo	$330,000	$293	56
220 S Bancroft Pkwy	0.73mi	2/2.0 (-1)	1,100 (+2%)	2mo	$310,000	$282	52
105-UNIT Christina Landing Dr #406	0.69mi	2/2.0 (-1)	1,125 (+5%)	1mo	$325,000	$289	51
14 S Bancroft Pkwy	0.68mi	3/1.0	1,200 (+12%)	2mo	$269,000	$224	47
400 Geddes St	0.68mi	3/1.5	1,225 (+14%)	0mo	$337,500	$276	42

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: 21.8%
• Equity multiple: 1.93×
• Total profit: $31,189
• Equity at exit: $17,892

10-year hold

• IRR: 31.9%
• Equity multiple: 4.34×
• Total profit: $112,250
• Equity at exit: $10,375

Cash invested: $33,600 (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: $1,841 high
• Mortgage (P&I): −$629
• Tax from tax record: −$80 /mo · $962/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $695

Break-even live

Break-even rent $961

Max offer price $120,000

Occupancy floor 57%

Sensitivity live

Price	-10% $763	-5% $729	+0% $695	+5% $661	+10% $627
Rent	-10% $549	-5% $622	+0% $695	+5% $767	+10% $840
Rate	-1.0pp $755	-0.5pp $725	base $695	+0.5pp $663	+1.0pp $632

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Porter St Wilmington, DE	2.0	1.5	1200	$1,700	$1.42	16d	1	0.06mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	21d	1	0.08mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	4d	1	0.09mi
1114 Lancaster Ave Wilmington, DE	2.0	1.0	775	$1,400	$1.81	25d	1	0.11mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	25d	1	0.13mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	44d	1	0.14mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	12d	1	0.17mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	44d	1	0.25mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	4d	1	0.34mi
128 Lower Oak St Wilmington, DE	2.0	1.0	871	$1,595	$1.83	0d	1	0.35mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	12d	1	0.39mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	0d	9	0.39mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	44d	1	0.39mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,850	$1.23	4d	1	0.42mi
530 Harlan Blvd #519 Wilmington, DE	2.0	2.0	1192	$2,250	$1.89	25d	1	0.45mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	44d	1	0.47mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	13d	1	0.50mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	44d	1	0.51mi
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	44d	1	0.52mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	25d	1	0.53mi
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	25d	1	0.53mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	0.54mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	0.55mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	5d	1	0.57mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	5d	1	0.57mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,975	$1.36	0d	1	0.58mi
802 N Broom St Apt 2 Wilmington, DE	2.0	21.0	800	$1,695	$2.12	22d	1	0.59mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	44d	1	0.60mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	44d	1	0.61mi
225 W 4th St Unit 2 Wilmington, DE	2.0	1.0	1000	$1,599	$1.60	44d	1	0.63mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	19d	1	0.64mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	44d	1	0.68mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	44d	1	0.68mi
105 Christina Landing Dr Wilmington, DE	2.0	2.0	1025	$2,400	$2.34	11d	1	0.69mi
105 Christina Landing Dr #1503 Wilmington, DE	2.0	2.0	1025	$2,500	$2.44	17d	1	0.69mi
105 Christina Landing Dr #1105 Wilmington, DE	2.0	2.0	1150	$2,500	$2.17	44d	1	0.69mi
115 Christina Landing Dr Wilmington, DE	1.0–2.0	1.0–2.0	1195	$2,796	$2.34	2d	13	0.71mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	4d	1	0.71mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	17d	1	0.76mi
703 Orange St Wilmington, DE	1.0–2.0	1.0	800	$1,475	$1.84	44d	1	0.76mi

Listing history 10 events

1. 2026-06-18
   days on market $120,000 Active 13 DOM
2. 2026-06-17
   days on market $120,000 Active 12 DOM
3. 2026-06-16
   days on market $120,000 Active 11 DOM
4. 2026-06-15
   days on market $120,000 Active 10 DOM
5. 2026-06-13
   days on market $120,000 Active 8 DOM
6. 2026-06-13
   days on market $120,000 Active 7 DOM
7. 2026-06-09
   days on market $120,000 Active 4 DOM
8. 2026-06-08
   days on market $120,000 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $120,000 Active 2 DOM

ⓘ 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: $962 · $80/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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: $22,087
• − Mortgage interest: −$6,722
• − Property taxes: −$962
• − Insurance: −$600
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$3,491
• Taxable income: $6,778
• Est. tax owed @ 24.0%: −$1,627
• After-tax cash flow: $6,708/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: 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): 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

+328.6% since first listed

3 events — show timeline

• 2026-06-05 Listed $120,000 BRIGHT MLS
• 1989-11-01 Sold (Public Records) $71,900 Public Records
• 1984-07-01 Sold (Public Records) $28,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $962 · +2.6% YoY. Source: county tax records.