109 King William St #109 · Newark, DE 19711

$179,999

2 bd · 1.5 ba · 1,000 sqft · Townhouse · 66 Days on market

Built 1969 Good condition $180/sqft · 7% below area Est $195k · 7% under $318/mo HOA · 15% of rent ↓ 5% since listing

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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 +18.3/30.0
• ARV discount +10.9/15.0
• 1% rule +7.2/10.0
• DSCR +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +3.8/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained and affordable two bedroom, one and a half bath townhome style condo offering approximately 1,000 square feet of comfortable living space in the desirable community of Williamsburg Village in the heart of Newark. Built in 1972, this home features a functional layout with spacious living and dining areas perfect for entertaining, a generous sized kitchen, and spacious sized bedrooms. Enjoy the hot Summer days in the community pool. The property is ideally located in a desirable neighborhood with convenient access to shopping, dining, I-95, and the University of Delaware, making it an excellent opportunity for for a new owner. Please note that this property cannot be used as a rental property. Enjoy low-maintenance living in a community setting while being just minutes from major commuting routes and local amenities.

Key facts

• Community pool
• Functional layout
• $318 HOA

Tags

• COMMUNITY POOL
• FUNCTIONAL LAYOUT
• GENEROUS SIZED KITCHEN
• CONVENIENT ACCESS TO SHOPPING
• DESIRABLE NEIGHBORHOOD
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.4% in Newark — 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 85/100 on livability (#1 in DE, #569 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-.
• 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.
• Market conditions: Rents rising fast (+5.5%/yr); 127 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $1k of loan paydown is wiped out by about $5k 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 66 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $169,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 6.9

CMA / ARV

• ARV (median comp): $194,543
• List price: $179,999
• Delta: -7.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
170 King William St #170	0.05mi	2/1.0	1,000 (0%)	1mo	$190,000	$190	95
174 King William St #174	0.05mi	2/1.0	1,000 (0%)	13mo	$188,000	$188	85
112 King William St #112	0.05mi	2/1.0	1,000 (0%)	14mo	$183,000	$183	84
144 King William St #144	0.03mi	2/1.5	1,000 (0%)	23mo	$189,900	$190	80
140 King William St #140	0.03mi	2/1.0	1,000 (0%)	21mo	$181,500	$182	79
109 Gateway Dr	0.74mi	2/1.5	1,125 (+12%)	10mo	$260,000	$231	36
180 Madison Dr	0.74mi	3/1.0 (+1)	1,125 (+12%)	4mo	$268,000	$238	35
181 Madison Dr	0.71mi	3/1.0 (+1)	1,125 (+12%)	6mo	$250,000	$222	34
115 Gateway Dr #8	0.73mi	2/2.5	1,125 (+12%)	14mo	$241,000	$214	29

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,843
• Equity at exit: $26,838

10-year hold

• IRR: 6.4%
• Equity multiple: 1.54×
• Total profit: $27,192
• Equity at exit: $15,563

Cash invested: $50,400 (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 19711

• Rents YoY: 5.5%
• Active inventory: 127
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,187 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$318
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $166

Break-even live

Break-even rent $1,977

Max offer price $179,999

Occupancy floor 87%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Nathan Hale Ct Newark, DE	3.0	2.0	1350	$2,300	$1.70	18d	1	0.59mi
100 Christina Mill Dr Newark, DE	1.0–2.0	1.0–2.0	827	$2,269	$2.74	1d	9	0.67mi
54 Madison Dr Newark, DE	3.0	1.0	1400	$1,849	$1.32	18d	1	0.87mi
53 Madison Dr Newark, DE	3.0	1.0	1125	$2,200	$1.96	1d	1	0.90mi
650 Lehigh Rd Newark, DE	1.0–2.0	1.0	871	$1,794	$2.06	1d	25	0.95mi
250 S Main St Ste 107 Newark, DE	2.0–4.0	1.0–3.0	1567	$1,760	$1.12	1d	1	1.02mi
1211 Nottingham Rd Newark, DE	2.0	2.0	1400	$1,795	$1.28	1d	1	1.22mi
1219 Nottingham Rd Unit 1219 Newark, DE	2.0	1.0	1000	$1,985	$1.99	12d	1	1.23mi
112 W Park Pl Newark, DE	3.0	2.0	1475	$3,250	$2.20	12d	1	1.31mi
112 W Park Pl Newark, DE	3.0	2.0	1315	$3,000	$2.28	43d	1	1.31mi

HOA detail

• Monthly dues: $318 · $3,816/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-18
   days on market $179,999 Active 66 DOM
2. 2026-06-17
   days on market $179,999 Active 65 DOM
3. 2026-06-16
   days on market $179,999 Active 64 DOM
4. 2026-06-15
   days on market $179,999 Active 63 DOM
5. 2026-06-13
   days on market $179,999 Active 61 DOM
6. 2026-06-13
   pricedays on market $179,999 Active 60 DOM
7. 2026-06-09
   days on market $189,900 Active 57 DOM
8. 2026-06-08
   days on market $189,900 Active 56 DOM
9. 2026-06-07
   days on market $189,900 Active 55 DOM
10. 2026-06-04
    days on market $189,900 Active 52 DOM
11. 2026-06-03
    days on market $189,900 Active 51 DOM
12. 2026-06-02
    days on market $189,900 Active 50 DOM
13. 2026-06-01
    days on market $189,900 Active 49 DOM
14. 2026-05-31
    days on market $189,900 Active 48 DOM
15. 2026-05-13
    price $189,900 859-char remark

    Show marketing remark (859 chars)

    Welcome to this well-maintained and affordable two bedroom, one and a half bath townhome style condo offering approximately 1,000 square feet of comfortable living space in the desirable community of Williamsburg Village in the heart of Newark. Built in 1972, this home features a functional layout with spacious living and dining areas perfect for entertaining, a generous sized kitchen, and spacious sized bedrooms. Enjoy the hot Summer days in the community pool. The property is ideally located in a desirable neighborhood with convenient access to shopping, dining, I-95, and the University of Delaware, making it an excellent opportunity for for a new owner. Please note that this property cannot be used as a rental property. Enjoy low-maintenance living in a community setting while being just minutes from major commuting routes and local amenities.

16. 2026-04-13
    listed $200,000 Active 859-char remark

    Show marketing remark (859 chars)

    Welcome to this well-maintained and affordable two bedroom, one and a half bath townhome style condo offering approximately 1,000 square feet of comfortable living space in the desirable community of Williamsburg Village in the heart of Newark. Built in 1972, this home features a functional layout with spacious living and dining areas perfect for entertaining, a generous sized kitchen, and spacious sized bedrooms. Enjoy the hot Summer days in the community pool. The property is ideally located in a desirable neighborhood with convenient access to shopping, dining, I-95, and the University of Delaware, making it an excellent opportunity for for a new owner. Please note that this property cannot be used as a rental property. Enjoy low-maintenance living in a community setting while being just minutes from major commuting routes and local amenities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,247
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − HOA: −$3,816
• − Depreciation: −$5,236
• Taxable loss: −$687
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $2,157/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.

Condition & rehab AI · 7 photos

Good 75/100 Cosmetic rehab

This well-maintained two-bedroom townhome is in good condition with some cosmetic updates needed to modernize the kitchen and bathroom. The home is located in a desirable neighborhood with easy access to amenities.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate bathroom tile — dated and in need of updating

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen will appeal to buyers and renters
• Both update bathroom fixtures and tile — modernizing the bathroom will appeal to buyers and renters
• Both paint interior walls — fresh paint will make the home more appealing and easier to sell

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
bathroom tile · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen will appeal to buyers and renters ↑
• Both update bathroom fixtures and tile — modernizing the bathroom will appeal to buyers and renters ↑
• Both paint interior walls — fresh paint will make the home more appealing and easier to sell ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Newark

• Score: 85/100
• State rank: #1
• US rank: #569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, DE
• County: New Castle County · 483,412 people
• City population: 135,862
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 49,432
• Household income: $95,403
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 2167.0

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 (69%)
• Race & ethnicity: White 69% Two or more races 9% Hispanic / Latino 9% Black 9% Asian 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 5% Slovak 2% Italian 2%
• Foreign-born: 12% · China, Canada, Vietnam
• Languages at home: 84% English-only · Spanish 5% Other Indo-European 3% Chinese 3%

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: ▼ -214.42%
• Current HPI: 225.6592
• Rent YoY: ▲ 5.45%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

-5.1% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $189,900 BRIGHT MLS
• 2026-04-13 Listed $200,000 BRIGHT MLS