1401 E Ayre St · Newport, DE 19804

$275,000

3 bd · 1.0 ba · 2,075 sqft · SingleFamily public records · 1 Days on market

Built 1953 10,454 sqft lot Est $394k · 30% under

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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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unique Property In Newport- Ideal For Home Based Business-Property To Be Sold In "As Is" Condition. 2 Garages Attached To House 3 Garage Stands Alone. Entire Yard Fenced In.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1953

Property features AI

Exterior

• Parking: Detached front-entry garage with two spaces; Driveway parking
• Utilities: Public water; Public sewer; Natural gas heating fuel
• Home design: Detached structure; Above-grade finished living space per assessor
• Construction: Block foundation; Estimated year built
• Exterior features: Not in a federal flood zone; No tidal water on the lot

Interior

• Bedrooms: Two main-level bedrooms; One upper-level bedroom
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating; Electric hot water; Circuit breaker electrical
• Interior features: Unfinished basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (9.3% below list).
• Recommended offer: $249k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.6% in Newport — 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 69/100 on livability (#32 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D, crime F, amenities F.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $85k; list at $275k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $249,426 (9.3% below list)

Questions for the listing agent

1. Built in 1953 — 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: 0.91% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $394,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Portland Ave	0.35mi	4/2.0 (+1)	2,050 (-1%)	7mo	$382,500	$187	67
104 Kenwood Ln	0.18mi	3/2.0	1,825 (-12%)	2mo	$264,500	$145	66
405 N Augustine St	0.54mi	4/— (+1)	2,025 (-2%)	4mo	$389,000	$192	62
605 Birmingham Ave	0.32mi	3/1.0	1,875 (-10%)	13mo	$325,000	$173	58
202 2nd Ave	0.53mi	3/1.5	2,025 (-2%)	15mo	$340,000	$168	57
102 Kenwood Ln	0.18mi	3/2.5	1,775 (-14%)	8mo	$357,000	$201	54
2A Main Ave	0.65mi	3/2.5	2,000 (-4%)	4mo	$459,900	$230	54
509 Birmingham Ave	0.36mi	2/1.5 (-1)	1,900 (-8%)	13mo	$359,900	$189	51
419 Becker Ave	0.59mi	4/3.0 (+1)	2,000 (-4%)	8mo	$380,000	$190	47
103 David Rd	0.71mi	4/2.0 (+1)	1,900 (-8%)	10mo	$375,000	$197	36
603 Walnut St	0.72mi	3/1.5	2,375 (+14%)	13mo	$320,000	$135	29
409 Boxwood Rd	0.71mi	4/2.5 (+1)	2,375 (+14%)	6mo	$489,900	$206	26

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-22,983
• Equity at exit: $41,003

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $7,415
• Equity at exit: $23,777

Cash invested: $77,000 (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 19804

• Active inventory: 41
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,494 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $341

Break-even live

Break-even rent $2,063

Max offer price $275,000

Occupancy floor 81%

Sensitivity live

Price	-10% $496	-5% $419	+0% $341	+5% $263	+10% $185
Rent	-10% $144	-5% $242	+0% $341	+5% $439	+10% $538
Rate	-1.0pp $479	-0.5pp $411	base $341	+0.5pp $270	+1.0pp $197

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Stonehurst Dr Wilmington, DE	3.0	2.5	1550	$2,500	$1.61	6d	1	0.82mi
411 Atkinson Rd Wilmington, DE	3.0	1.0	2267	$2,000	$0.88	20d	1	1.04mi
50 Dodson Ave Wilmington, DE	3.0	2.5	2200	$2,990	$1.36	3d	1	1.09mi

Listing history 2 events

1. 2026-06-17
   remarks 23-char remark
2. 2026-06-17
   listed $275,000 Pending 1 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: $875 · $73/mo
• Projected year-2 tax: $1,235 · $103/mo
• Expected delta: +$360/yr (+$30/mo · 41.1%)

ⓘ 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 ≥102°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: $29,931
• − Mortgage interest: −$15,404
• − Property taxes: −$875
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,394
• − Management: −$2,394
• − Depreciation: −$8,000
• Taxable loss: −$512
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $4,213/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 of 26 in DE

Livability — Newport

• Score: 69/100
• State rank: #32
• US rank: #8853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,231

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 18% Black 13% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 6% Iranian 2% Slovak 1%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 15% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -182.17%
• Current HPI: 268.5199
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+223.9% since first listed

6 events — show timeline

• 2026-06-16 Pending — BRIGHT MLS
• 2026-06-16 Listed $275,000 BRIGHT MLS
• 2000-07-12 Sold (Public Records) $84,900 Public Records
• 2000-05-31 Sold (MLS) $84,900 BRIGHT MLS
• 2000-04-21 Listing Removed — BRIGHT MLS
• 2000-01-17 Listed $84,900 BRIGHT MLS

Property tax history

+3.3%/yr

Latest (2024): $875 · +13.4% YoY. Source: county tax records.