109 Birch St Unit 109-BIR · Pike Creek Valley, DE 19808

$21,500

3 bd · 1.0 ba · 600 sqft · Manufactured · 492 Days on market

Built 2025 $36/sqft · 15% above area Est $19k · 15% over ↓ 2% since listing

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 1 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2025
• Listed 491 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $22k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Cap rate 77.7% vs local median 4.7% in Pike Creek Valley — 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 (#26 in DE) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living B+; Watch: amenities F, commute F, health & safety D-.
• 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: Rents rising (+2.0%/yr); 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $149 of loan paydown is wiped out by about $645 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 + 2.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 492 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $18,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 492 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 8.41% ✓
• Cap rate: 77.74%
• Cash-on-cash: 255.15%
• DSCR: 12.35
• GRM: 1.0

CMA / ARV

• ARV (median comp): $18,641
• List price: $21,500
• Delta: 15.34%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Birch St	0.03mi	2/1.0 (-1)	600 (0%)	9mo	$20,000	$33	86

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 · 2.02% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.67×
• Total profit: $76,302
• Equity at exit: $3,206

10-year hold

• IRR: —
• Equity multiple: 28.31×
• Total profit: $164,425
• Equity at exit: $1,859

Cash invested: $6,020 (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 19808

• Rents YoY: 2.0%
• Active inventory: 126
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$113
• Tax est. 1.5%: −$27 /mo · $322/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,280

Break-even live

Break-even rent $188

Max offer price $21,500

Occupancy floor 24%

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: $5,375
• Closing costs: $645
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5597 Heritage Court Dr Apt 2B Wilmington, DE	1.0–2.0	1.0	707	$1,535	$2.17	2d	6	0.49mi
4608 Haverford Pl Wilmington, DE	1.0–2.0	1.0	750	$1,465	$1.95	12d	1	0.76mi
39 Abbey Ln Newark, DE	1.0–2.0	1.0	707	$1,580	$2.23	1d	11	0.90mi

Listing history 18 events

1. 2026-06-18
   days on market $21,500 Active 492 DOM
2. 2026-06-17
   days on market $21,500 Active 491 DOM
3. 2026-06-16
   days on market $21,500 Active 490 DOM
4. 2026-06-15
   days on market $21,500 Active 489 DOM
5. 2026-06-13
   days on market $21,500 Active 487 DOM
6. 2026-06-13
   days on market $21,500 Active 486 DOM
7. 2026-06-09
   days on market $21,500 Active 483 DOM
8. 2026-06-08
   days on market $21,500 Active 482 DOM
9. 2026-06-07
   days on market $21,500 Active 481 DOM
10. 2026-06-04
    days on market $21,500 Active 478 DOM
11. 2026-06-03
    days on market $21,500 Active 477 DOM
12. 2026-06-02
    days on market $21,500 Active 476 DOM
13. 2026-06-01
    pricedays on market $21,500 Active 475 DOM
14. 2026-05-31
    days on market $21,000 Active 474 DOM
15. 2026-02-01
    price $21,000 483-char remark

    Show marketing remark (483 chars)

    * THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 1 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

16. 2025-10-29
    status Active 483-char remark

    Show marketing remark (483 chars)

    * THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 1 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

17. 2025-10-24
    historical 483-char remark

    Show marketing remark (483 chars)

    * THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 1 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

18. 2025-02-06
    listed $21,500 Active 483-char remark

    Show marketing remark (483 chars)

    * THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 1 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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: $21,700
• − Mortgage interest: −$1,204
• − Property taxes: −$322
• − Insurance: −$108
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$625
• Taxable income: $15,968
• Est. tax owed @ 24.0%: −$3,832
• After-tax cash flow: $11,528/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 — Pike Creek Valley

• Score: 69/100
• State rank: #26
• US rank: #8511

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 39,082
• Household income: $94,234
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 619.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 14% Asian 8% Black 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 7% Lithuanian 1% Slovak 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 12% Chinese 3% Other Indo-European 2%

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: ▼ -252.43%
• Current HPI: 239.0702
• Rent YoY: ▲ 2.02%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-2.3% since first listed

4 events — show timeline

• 2026-02-01 Price Changed $21,000 Zillow
• 2025-10-29 Relisted — Zillow
• 2025-10-24 Delisted — Zillow
• 2025-02-06 Listed $21,500 Zillow