242 Green Blade Dr · Dover, DE 19904

$165,000

2 bd · 1.5 ba · 1,120 sqft · SingleFamily public records · 85 Days on market

Built 1983 2,004 sqft lot $147/sqft · 20% below area Est $207k · 20% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.6/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors! This interior unit is a 2 bedroom 1.5 bath interior unit. The home has an active lease through January 1st 2027.

Key facts

• Built 1983
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.2% in Dover — 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 67/100 on livability (#38 in DE) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, crime F, commute F.
• Capital School District (urban): math 14% / reading 31% proficiency, ranked #24 of 26 in DE (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.3%/yr); 225 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; list at $165k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.06% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 7.9

CMA / ARV

• ARV (median comp): $206,629
• List price: $165,000
• Delta: -20.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1362 W College Rd	0.59mi	3/2.0 (+1)	1,172 (+5%)	4mo	$305,000	$260	54
1358 W College Rd	0.61mi	3/2.0 (+1)	1,269 (+13%)	1mo	$320,000	$252	41
28 Ann Ave	0.75mi	3/2.0 (+1)	1,188 (+6%)	23mo	$262,000	$221	29
1360 College Rd	0.61mi	3/2.0 (+1)	1,260 (+12%)	22mo	$325,000	$258	25

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-3,306
• Equity at exit: $24,602

10-year hold

• IRR: 8.1%
• Equity multiple: 1.62×
• Total profit: $28,655
• Equity at exit: $14,266

Cash invested: $46,200 (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 19904

• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$865
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $360

Break-even live

Break-even rent $1,288

Max offer price $165,000

Occupancy floor 74%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Green Blade Dr Dover, DE	3.0	2.5	1200	$1,850	$1.54	43d	1	0.02mi
33 Fieldstone Ct Dover, DE	2.0	1.5	1120	$1,550	$1.38	43d	1	0.12mi
11 Dover Hall Unit 434 Dover, DE	2.0	2.0	960	$1,700	$1.77	43d	1	0.21mi
70 Greenway Sq Dover, DE	3.0	1.0–2.0	769	$1,783	$2.32	43d	1	0.31mi
1300 S Farmview Dr Dover, DE	1.0–2.0	1.0–2.0	888	$1,699	$1.91	43d	8	0.32mi
97 Par Haven Dr Unit J23 Dover, DE	2.0	1.5	1050	$1,650	$1.57	43d	1	0.42mi
44 Courtside Dr Unit B31 Dover, DE	2.0	1.5	1008	$1,650	$1.64	43d	1	0.43mi
63 Forest Creek Dr Dover, DE	3.0	1.5	1322	$1,600	$1.21	43d	1	0.81mi
114 Thames Dr Dover, DE	2.0	2.5	1452	$1,650	$1.14	43d	1	0.86mi
892 Woodcrest Dr Dover, DE	2.0	1.0–1.5	521	$1,690	$3.24	43d	15	1.05mi
105 Katrina Way Dover, DE	1.0–3.0	1.0–2.0	952	$1,800	$1.89	43d	22	1.06mi
355A Ridgely St Dover, DE	1.0–3.0	1.0–2.5	1238	$2,210	$1.78	43d	17	1.07mi
46 Lincoln St Dover, DE	2.0	2.0	1073	$1,700	$1.58	43d	1	1.09mi
100 Isabelle Isle Dover, DE	2.0–3.0	2.0	1273	$1,859	$1.46	43d	9	1.26mi
424 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	1.31mi
16 S New St #1 Dover, DE	3.0	1.0	1000	$1,950	$1.95	43d	1	1.37mi
205 Ridgely Blvd Dover, DE	3.0	2.5	1432	$2,000	$1.40	43d	1	1.39mi

Listing history 24 events

1. 2026-06-19
   days on market $165,000 Active 85 DOM
2. 2026-06-18
   days on market $165,000 Active 84 DOM
3. 2026-06-17
   days on market $165,000 Active 83 DOM
4. 2026-06-16
   days on market $165,000 Active 82 DOM
5. 2026-06-15
   days on market $165,000 Active 81 DOM
6. 2026-06-14
   days on market $165,000 Active 79 DOM
7. 2026-06-13
   days on market $165,000 Active 78 DOM
8. 2026-06-10
   days on market $165,000 Active 76 DOM
9. 2026-06-09
   days on market $165,000 Active 75 DOM
10. 2026-06-08
    days on market $165,000 Active 74 DOM
11. 2026-06-07
    days on market $165,000 Active 73 DOM
12. 2026-06-02
    days on market $165,000 Active 68 DOM
13. 2026-06-01
    days on market $165,000 Active 67 DOM
14. 2026-05-31
    days on market $165,000 Active 66 DOM
15. 2026-05-30
    days on market $165,000 Active 65 DOM
16. 2026-05-19
    historical Active Under Contract 123-char remark

    Show marketing remark (123 chars)

    Investors! This interior unit is a 2 bedroom 1.5 bath interior unit. The home has an active lease through January 1st 2027.

17. 2026-05-12
    price $172,000 123-char remark

    Show marketing remark (123 chars)

    Investors! This interior unit is a 2 bedroom 1.5 bath interior unit. The home has an active lease through January 1st 2027.

18. 2026-05-04
    price $175,000 123-char remark

    Show marketing remark (123 chars)

    Investors! This interior unit is a 2 bedroom 1.5 bath interior unit. The home has an active lease through January 1st 2027.

19. 2026-03-22
    listed $180,000 Active 123-char remark

    Show marketing remark (123 chars)

    Investors! This interior unit is a 2 bedroom 1.5 bath interior unit. The home has an active lease through January 1st 2027.

20. 2008-02-28
    soldstatus $108,000
21. 2008-02-25
    soldstatus $108,000 285-char remark

    Show marketing remark (285 chars)

    K-6792 Great Investment Opportunity! 2BR, 1 1/2BA Townhome with private fenced in yard. This home features a fireplace in the living room, 2 car parking, large closets and a full basement. Recent upgrades include a new refrigerator. Great location, close to schools, shopping and more!

22. 2007-12-28
    historical 285-char remark

    Show marketing remark (285 chars)

    K-6792 Great Investment Opportunity! 2BR, 1 1/2BA Townhome with private fenced in yard. This home features a fireplace in the living room, 2 car parking, large closets and a full basement. Recent upgrades include a new refrigerator. Great location, close to schools, shopping and more!

23. 2007-11-14
    listed $108,000 285-char remark

    Show marketing remark (285 chars)

    K-6792 Great Investment Opportunity! 2BR, 1 1/2BA Townhome with private fenced in yard. This home features a fireplace in the living room, 2 car parking, large closets and a full basement. Recent upgrades include a new refrigerator. Great location, close to schools, shopping and more!

24. 1985-04-01
    soldstatus $52,250

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,926
• − Mortgage interest: −$9,243
• − Property taxes: −$998
• − Insurance: −$825
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$4,800
• Taxable income: $1,712
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $3,914/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: Capital School District
• NCES district ID: 1000190
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $48,499
• Composite: 19.78/100
• National rank: #8703
• State rank: #24 of 26 in DE

Livability — Dover

• Score: 67/100
• State rank: #38
• US rank: #10574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dover, DE
• County: Kent County · 82,184 people
• City population: 76,581
• Metro: Dover, DE
• Population (ZIP): 38,818
• Household income: $66,908
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1500.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 194,477 people
• By 2030: 204,351 · +5.1%
• By 2040: 222,135 · +14.2%
• By 2050: 236,483 · +21.6%
• By 2075: 266,327 · +36.9%
• By 2100: 275,335 · +41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 48% Black 35% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 3% Romanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 50.2% · R 48.2% · Other 1.7%
• 2008→2024 swing: -7.8pp toward R · 2008: 9.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+4.1 2016: R+4.9 2012: D+4.9 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.03%
• Current HPI: 187.6879
• Rent YoY: ▲ 3.30%
• Metro: Dover, DE
• State GDP YoY: —
• F500 in state: 0

Price history

+229.2% since first listed

9 events — show timeline

• 2026-05-19 Contingent — BRIGHT MLS
• 2026-05-12 Price Changed $172,000 BRIGHT MLS
• 2026-05-04 Price Changed $175,000 BRIGHT MLS
• 2026-03-22 Listed $180,000 BRIGHT MLS
• 2008-02-28 Sold (Public Records) $108,000 Public Records
• 2008-02-25 Sold (MLS) $108,000 BRIGHT MLS
• 2007-12-28 Listing Removed — BRIGHT MLS
• 2007-11-14 Listed $108,000 BRIGHT MLS
• 1985-04-01 Sold (Public Records) $52,250 Public Records

Property tax history

+2.6%/yr

Latest (2025): $998 · +3.5% YoY. Source: county tax records.