1715 Sycamore St · Wilmington, DE 19805

$229,999

3 bd · 1.0 ba · 1,250 sqft · MultiFamily public records · 6 Days on market

Built 1946 2,614 sqft lot Est $198k · 16% over

---

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 +30.0/30.0
• 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
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 1715 Sycamore Street. This charming home has amazing natural light all throughout. As you walk in you are greeted but the living room and a cozy fireplace. Flows right into the dining room and updated kitchen. The backyard is fenced in and ready for whatever you have in mind. Upstairs has three bedrooms and full bath. Do not miss your chance at this charming home.

Key facts

• Built 1946
• Listed 6 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Fee simple ownership; Estimated year built
• Construction: Other foundation details
• Exterior features: Semi-detached structure; Above-grade and below-grade other structures; Not in a federal flood zone; Located within city limits

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: 90% forced air heating (natural gas); Window air conditioning units (electric)
• Interior features: Estimated living area; Basement present (other type)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 16.2% vs local median 5.7% 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+, commute D, crime F.
• 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.
• Zoned schools: The Bayard School (math 3% / reading 10%, grade F, #102 of 105 statewide, top 97%, 508 students, 0% FRL); Glasgow High School (math 8% / reading 17%, grade F, #36 of 40 statewide, top 90%, 895 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 9% at this address vs 28% district-wide (-18 pts) — the specific schools serving this property underperform the Christina School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.3%/yr); 168 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $4,248/mo this rent would consume 85% of the median local household income ($60k/yr) (locally 1730% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $64k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $229,999

Questions for the listing agent

1. Built in 1946 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.85% ✓
• Cap rate: 16.24%
• Cash-on-cash: 35.54%
• DSCR: 2.58
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $197,500
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 N Scott St	0.31mi	2/— (-1)	1,200 (-4%)	14mo	$190,000	$158	63
120 N Lincoln St	0.33mi	2/2.0 (-1)	1,300 (+4%)	17mo	$185,000	$142	55

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: 34.8%
• Equity multiple: 2.54×
• Total profit: $98,991
• Equity at exit: $34,294

10-year hold

• IRR: 43.3%
• Equity multiple: 5.78×
• Total profit: $307,600
• Equity at exit: $19,886

Cash invested: $64,400 (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: 168
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $4,248 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$147 /mo · $1,758/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $1,907

Break-even live

Break-even rent $1,834

Max offer price $229,999

Occupancy floor 50%

Sensitivity live

Price	-10% $2,038	-5% $1,973	+0% $1,907	+5% $1,842	+10% $1,777
Rent	-10% $1,572	-5% $1,740	+0% $1,907	+5% $2,075	+10% $2,243
Rate	-1.0pp $2,023	-0.5pp $1,966	base $1,907	+0.5pp $1,848	+1.0pp $1,787

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,248
Total (3 units)			$4,248

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1802 Maple St Wilmington, DE	3.0	1.5	1250	$2,500	$2.00	25d	1	0.07mi
1815 Maple St Wilmington, DE	3.0	1.5	1100	$1,995	$1.81	0d	1	0.11mi
1525 Beech St Wilmington, DE	3.0	2.5	1850	$2,400	$1.30	6d	1	0.12mi
1016 Clayton Rd Wilmington, DE	3.0	1.0	1150	$1,850	$1.61	6d	1	0.32mi
115 N Clayton St Unit 115 Wilmington, DE	3.0	1.5	1200	$1,725	$1.44	13d	1	0.32mi
414 S Franklin St Wilmington, DE	3.0	2.0	1195	$1,895	$1.59	45d	1	0.37mi
1122 Coyne Pl Wilmington, DE	3.0	1.0	1350	$1,950	$1.44	45d	1	0.37mi
1227 Linden St Wilmington, DE	3.0	2.0	950	$1,850	$1.95	5d	1	0.39mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	20d	1	0.41mi
1110 Maple St Wilmington, DE	3.0	1.0	1525	$1,600	$1.05	45d	1	0.45mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	13d	1	0.45mi
1936 Lakeview Rd Wilmington, DE	3.0	1.0	1350	$1,850	$1.37	16d	1	0.46mi
307 N Rodney St Wilmington, DE	3.0	1.5	1425	$2,000	$1.40	45d	1	0.47mi
7 6th Ave Wilmington, DE	3.0	2.0	1325	$1,800	$1.36	45d	1	0.48mi
1508 Maryland Ave Wilmington, DE	3.0	1.5	1450	$1,850	$1.28	0d	1	0.49mi
1110 Read St Wilmington, DE	2.0	1.0	1100	$1,250	$1.14	22d	1	0.51mi
21 Stroud St Unit 1 Wilmington, DE	3.0	1.5	1875	$1,900	$1.01	45d	1	0.52mi
25 Stroud St Wilmington, DE	3.0	1.0	1200	$1,795	$1.50	5d	1	0.52mi
232 N Franklin St Wilmington, DE	3.0	2.0	1150	$1,795	$1.56	45d	1	0.53mi
205 Porter St Wilmington, DE	2.0	1.5	1200	$1,700	$1.42	16d	1	0.54mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	25d	1	0.58mi
618 N Scott St Wilmington, DE	3.0	1.5	1400	$1,850	$1.32	45d	1	0.63mi
231 5th Ave Wilmington, DE	2.0	1.0	1050	$1,350	$1.29	45d	1	0.64mi
1522 W 7th St Unit 1 Wilmington, DE	2.0	1.0	900	$1,800	$2.00	6d	1	0.64mi
521 N Franklin St Wilmington, DE	3.0	2.0	1500	$1,795	$1.20	0d	1	0.66mi
1607 Howland St Wilmington, DE	3.0	1.0	1075	$1,900	$1.77	5d	1	0.76mi
1601 Bonwood Rd Wilmington, DE	3.0	1.5	1500	$1,850	$1.23	25d	1	0.77mi
1624 W 9th St Wilmington, DE	3.0	2.5	1780	$2,500	$1.40	20d	1	0.79mi
131 Scarborough Park Dr Wilmington, DE	1.0–2.0	1.0–1.5	837	$1,700	$2.03	45d	1	0.81mi
331 Justison St Wilmington, DE	1.0–2.0	1.0–2.0	859	$2,205	$2.57	0d	9	0.81mi
530 Harlan Blvd #519 Wilmington, DE	2.0	2.0	1192	$2,250	$1.89	25d	1	0.86mi
1600 Bonwood Rd Wilmington, DE	2.0	1.0	970	$1,570	$1.62	0d	1	0.87mi
1600 Bonwood Rd Wilmington, DE	2.0	2.0	970	$1,614	$1.66	16d	1	0.87mi
1000 W 8th St Unit 3 Wilmington, DE	2.0	1.0	1050	$1,695	$1.61	25d	1	0.88mi
820 W 7th St Wilmington, DE	3.0	1.0	1000	$1,650	$1.65	45d	1	0.90mi
507 W 4th St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	14d	1	0.97mi
617 W 6th St Unit 617 B Wilmington, DE	3.0	1.0	1000	$1,600	$1.60	6d	1	0.98mi
205 Western Ave Wilmington, DE	4.0	2.5	1225	$2,300	$1.88	45d	1	1.01mi
709 Windsor St Unit 3 Wilmington, DE	2.0	1.0	980	$1,500	$1.53	45d	1	1.02mi
711 Windsor St Wilmington, DE	2.0	1.0	980	$1,460	$1.49	45d	1	1.03mi

Listing history 3 events

1. 2026-05-01
   status Pending
2. 2026-04-26
   listed $229,999 Active
3. 2026-04-24
   historical $229,999

ⓘ 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: $1,758 · $147/mo
• Projected year-2 tax: $1,758 · $147/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 7/10 Severe 7 d/yr ≥103°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,976
• − Mortgage interest: −$12,884
• − Property taxes: −$1,758
• − Insurance: −$1,150
• − Repairs & maintenance: −$4,078
• − Management: −$4,078
• − Depreciation: −$6,691
• Taxable income: $20,337
• Est. tax owed @ 24.0%: −$4,881
• After-tax cash flow: $18,008/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

+0.0% since first listed

3 events — show timeline

• 2026-05-01 Pending — BRIGHT MLS
• 2026-04-26 Listed $229,999 BRIGHT MLS
• 2026-04-24 Coming Soon $229,999 BRIGHT MLS

Property tax history

+19.2%/yr

Latest (2024): $1,758 · +2.6% YoY. Source: county tax records.