408 9th St · New Castle, DE 19720

$249,000

4 bd · 1.0 ba · 1,858 sqft · SingleFamily public records · 35 Days on market

Built 1950 7,841 sqft lot $134/sqft · 22% below area Est $318k · 22% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Transform this house into your home with a little TLC. The floor plan conveniently flows through the living room, dining space and kitchen and the main level is filled with natural light pouring through the vinyl windows. All bedrooms are spacious with healthy closet space. The expansive backyard offers ample room for family activities. Situated in a prime location, this home offers easy access to local amenities, schools, parks, and transportation. Schedule your tour today!

Key facts

• Open floor plan
• Vinyl windows
• Natural light

Tags

• OPEN FLOOR PLAN
• NATURAL LIGHT
• VINYL WINDOWS
• SPACIOUS BEDROOMS
• HEALTHY CLOSET SPACE
• SLEEK VANITIES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $359 ($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 $234k (6.1% below list).
• Recommended offer: $234k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.9% in New Castle — 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 72/100 on livability (#13 in DE) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools D, crime F, commute F.
• Colonial School District (suburban): math 15% / reading 30% proficiency, ranked #23 of 26 in DE (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 37% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $26k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $249k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,735 (6.1% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.94% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (median comp): $318,428
• List price: $249,000
• Delta: -21.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 West Ave	0.23mi	4/1.0	1,825 (-2%)	10mo	$300,000	$164	78
408 10th St	0.05mi	3/1.5 (-1)	1,775 (-4%)	11mo	$359,000	$202	74
800 East Ave	0.06mi	3/1.0 (-1)	1,675 (-10%)	7mo	$299,900	$179	70
406 10th St	0.04mi	3/2.5 (-1)	1,950 (+5%)	13mo	$369,900	$190	68
409 10th St	0.07mi	3/2.5 (-1)	1,750 (-6%)	11mo	$365,000	$209	67
408 East Ave	0.19mi	3/2.5 (-1)	1,725 (-7%)	11mo	$380,000	$220	60
204 East Ave	0.33mi	3/2.5 (-1)	1,700 (-8%)	7mo	$370,000	$218	54
31 Memorial Dr	0.54mi	3/2.5 (-1)	2,031 (+9%)	2mo	$399,900	$197	47
108 Buck Ln	0.69mi	3/2.0 (-1)	1,725 (-7%)	1mo	$340,000	$197	46
203 East Ave	0.31mi	3/3.0 (-1)	1,600 (-14%)	8mo	$365,000	$228	43
115 Buck Ln	0.73mi	3/2.5 (-1)	1,715 (-8%)	12mo	$330,000	$192	32
104 Buck Ln	0.67mi	3/1.0 (-1)	1,625 (-12%)	13mo	$270,000	$166	32

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-17,603
• Equity at exit: $37,127

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $13,661
• Equity at exit: $21,529

Cash invested: $69,720 (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 19720

• Active inventory: 142
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,337 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $359

Break-even live

Break-even rent $1,883

Max offer price $249,000

Occupancy floor 80%

Sensitivity live

Price	-10% $500	-5% $429	+0% $359	+5% $288	+10% $218
Rent	-10% $174	-5% $267	+0% $359	+5% $451	+10% $543
Rate	-1.0pp $484	-0.5pp $422	base $359	+0.5pp $294	+1.0pp $229

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Arbutus Ave Unit 1 New Castle, DE	3.0	2.0	1600	$2,650	$1.66	19d	1	1.18mi

Listing history 13 events

1. 2026-04-21
   listed $275,000 Active 479-char remark

   Show marketing remark (479 chars)

   Transform this house into your home with a little TLC. The floor plan conveniently flows through the living room, dining space and kitchen and the main level is filled with natural light pouring through the vinyl windows. All bedrooms are spacious with healthy closet space. The expansive backyard offers ample room for family activities. Situated in a prime location, this home offers easy access to local amenities, schools, parks, and transportation. Schedule your tour today!

2. 2014-10-06
   soldstatus $139,900 523-char remark

   Show marketing remark (523 chars)

   Come see this 4 br 2ba rancher in Newcastle! This complete renovation is 90 percent complete. It features an open floor plan with brand new laminate floors. The kitchen pops with stainless steel appliances, new cabinets, granite counters, and gorgeous tile. New lighting throughout. Fresh paint and carpet. Updated bathrooms with new tile and vanities. Upstairs laundry. New siding. Deck in back for entertaining. New central air to be installed by settlement. Extra long driveway. Owner is a licensed realtor in Delaware.

3. 2014-10-06
   soldstatus $139,900 Sold

   Show marketing remark (523 chars)

   Come see this 4 br 2ba rancher in Newcastle! This complete renovation is 90 percent complete. It features an open floor plan with brand new laminate floors. The kitchen pops with stainless steel appliances, new cabinets, granite counters, and gorgeous tile. New lighting throughout. Fresh paint and carpet. Updated bathrooms with new tile and vanities. Upstairs laundry. New siding. Deck in back for entertaining. New central air to be installed by settlement. Extra long driveway. Owner is a licensed realtor in Delaware.

4. 2014-08-13
   historical
5. 2014-08-12
   historical 523-char remark

   Show marketing remark (523 chars)

   Come see this 4 br 2ba rancher in Newcastle! This complete renovation is 90 percent complete. It features an open floor plan with brand new laminate floors. The kitchen pops with stainless steel appliances, new cabinets, granite counters, and gorgeous tile. New lighting throughout. Fresh paint and carpet. Updated bathrooms with new tile and vanities. Upstairs laundry. New siding. Deck in back for entertaining. New central air to be installed by settlement. Extra long driveway. Owner is a licensed realtor in Delaware.

6. 2014-07-27
   listed $139,900 Active
7. 2014-07-26
   listed $139,900 523-char remark

   Show marketing remark (523 chars)

   Come see this 4 br 2ba rancher in Newcastle! This complete renovation is 90 percent complete. It features an open floor plan with brand new laminate floors. The kitchen pops with stainless steel appliances, new cabinets, granite counters, and gorgeous tile. New lighting throughout. Fresh paint and carpet. Updated bathrooms with new tile and vanities. Upstairs laundry. New siding. Deck in back for entertaining. New central air to be installed by settlement. Extra long driveway. Owner is a licensed realtor in Delaware.

8. 2005-10-28
   soldstatus $168,400
9. 2005-10-11
   historical
10. 2005-09-03
    historical
11. 2005-09-02
    listed $168,400
12. 2005-07-07
    listed $164,900
13. 2001-09-20
    soldstatus $50,000

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $1,191 · $99/mo
• Expected delta: +$253/yr (+$21/mo · 27.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 15 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,048
• − Mortgage interest: −$13,948
• − Property taxes: −$938
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$7,244
• Taxable income: $186
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $4,261/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: Colonial School District
• NCES district ID: 1000230
• Math proficiency: 15% ▼ -10.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $58,622
• Composite: 20.75/100
• National rank: #8517
• State rank: #23 of 26 in DE

Livability — New Castle

• Score: 72/100
• State rank: #13
• US rank: #5905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Castle County · 483,412 people
• City population: 62,392
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 62,392
• Household income: $75,403
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1852.0

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 0.67)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 1% Swedish 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -261.00%
• Current HPI: 255.0404
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+450.0% since first listed

13 events — show timeline

• 2026-04-21 Listed $275,000 BRIGHT MLS
• 2014-10-06 Sold (MLS) $139,900 TREND
• 2014-10-06 Sold (MLS) $139,900 BRIGHT MLS
• 2014-08-13 Delisted — TREND
• 2014-08-12 Listing Removed — BRIGHT MLS
• 2014-07-27 Listed $139,900 TREND
• 2014-07-26 Listed $139,900 BRIGHT MLS
• 2005-10-28 Sold (MLS) $168,400 BRIGHT MLS
• 2005-10-11 Listing Removed — BRIGHT MLS
• 2005-09-03 Listing Removed — BRIGHT MLS
• 2005-09-02 Listed $168,400 BRIGHT MLS
• 2005-07-07 Listed $164,900 BRIGHT MLS
• 2001-09-20 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2024): $938 · +9.9% YoY. Source: county tax records.