364 Main St · Little Creek, DE 19961

$149,900

3 bd · 1.0 ba · 1,704 sqft · SingleFamily · 132 Days on market

Built 1900 Fair condition 0.54 ac lot $88/sqft · 52% below area

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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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Listing remarks MLS

Diamond in the rough with endless potential in Little Creek! This stately colonial is set on a rare large double lot and offers a unique opportunity for investors, builders, or buyers with vision. Within a short walk to all town amenities including boat ramp/launch, fishing pier, dog park, and post office. Restore the existing home to its former charm or explore the possibility of subdividing the lot into two parcels and starting fresh (buyer to verify all zoning and subdivision requirements). The property also features a substantial outbuilding with an enclosed, oversized garage and extensive covered storage—ideal for equipment, vehicles, or recreational toys and boats. Whether you’re seeking your next renovation project or a long-term investment, this one-of-a-kind property presents options that are increasingly hard to find. Property is being sold as-is, with the buyer responsible for all inspections, zoning verification, and due diligence. CASH ONLY

Key facts

• Large double lot
• Oversized garage
• 0.54 acre lot

Tags

• LARGE DOUBLE LOT
• SUBSTANTIAL OUTBUILDING
• OVERSIZED GARAGE
• EXTENSIVE COVERED STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (26.0% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $111k (26.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 61/100 on livability (#66 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities 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: 5 active listings in the ZIP; 1,201 units permitted in Kent County in 2024 (116 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($132k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $110,924 (26.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.01% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $311,035
• List price: $149,900
• Delta: -51.81%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 Main St	0.07mi	4/2.5 (+1)	1,665 (-2%)	6mo	$336,600	$202	77
375 Main	0.05mi	2/1.0 (-1)	1,883 (+10%)	10mo	$100,000	$53	67

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: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,187
• Equity at exit: $67,402

10-year hold

• IRR: 4.4%
• Equity multiple: 1.68×
• Total profit: $28,684
• Equity at exit: $103,874

Cash invested: $41,972 (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 19961

• Active inventory: 5
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-269

Break-even live

Break-even rent $1,851

Max offer price $110,924

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $149,900 Active 132 DOM
2. 2026-06-18
   days on market $149,900 Active 131 DOM
3. 2026-06-17
   days on market $149,900 Active 130 DOM
4. 2026-06-16
   days on market $149,900 Active 129 DOM
5. 2026-06-15
   days on market $149,900 Active 128 DOM
6. 2026-06-14
   days on market $149,900 Active 126 DOM
7. 2026-06-13
   days on market $149,900 Active 125 DOM
8. 2026-06-10
   days on market $149,900 Active 123 DOM
9. 2026-06-09
   days on market $149,900 Active 122 DOM
10. 2026-06-08
    days on market $149,900 Active 121 DOM
11. 2026-06-07
    days on market $149,900 Active 120 DOM
12. 2026-06-02
    days on market $149,900 Active 115 DOM
13. 2026-06-01
    days on market $149,900 Active 114 DOM
14. 2026-05-31
    days on market $149,900 Active 113 DOM
15. 2026-05-30
    days on market $149,900 Active 112 DOM
16. 2026-04-29
    status Active 979-char remark

    Show marketing remark (979 chars)

    Diamond in the rough with endless potential in Little Creek! This stately colonial is set on a rare large double lot and offers a unique opportunity for investors, builders, or buyers with vision. Within a short walk to all town amenities including boat ramp/launch, fishing pier, dog park, and post office. Restore the existing home to its former charm or explore the possibility of subdividing the lot into two parcels and starting fresh (buyer to verify all zoning and subdivision requirements). The property also features a substantial outbuilding with an enclosed, oversized garage and extensive covered storage—ideal for equipment, vehicles, or recreational toys and boats. Whether you’re seeking your next renovation project or a long-term investment, this one-of-a-kind property presents options that are increasingly hard to find. Property is being sold as-is, with the buyer responsible for all inspections, zoning verification, and due diligence. CASH ONLY

17. 2026-04-08
    status Pending 979-char remark

    Show marketing remark (979 chars)

    Diamond in the rough with endless potential in Little Creek! This stately colonial is set on a rare large double lot and offers a unique opportunity for investors, builders, or buyers with vision. Within a short walk to all town amenities including boat ramp/launch, fishing pier, dog park, and post office. Restore the existing home to its former charm or explore the possibility of subdividing the lot into two parcels and starting fresh (buyer to verify all zoning and subdivision requirements). The property also features a substantial outbuilding with an enclosed, oversized garage and extensive covered storage—ideal for equipment, vehicles, or recreational toys and boats. Whether you’re seeking your next renovation project or a long-term investment, this one-of-a-kind property presents options that are increasingly hard to find. Property is being sold as-is, with the buyer responsible for all inspections, zoning verification, and due diligence. CASH ONLY

18. 2026-01-17
    listed $149,900 Active 979-char remark

    Show marketing remark (979 chars)

    Diamond in the rough with endless potential in Little Creek! This stately colonial is set on a rare large double lot and offers a unique opportunity for investors, builders, or buyers with vision. Within a short walk to all town amenities including boat ramp/launch, fishing pier, dog park, and post office. Restore the existing home to its former charm or explore the possibility of subdividing the lot into two parcels and starting fresh (buyer to verify all zoning and subdivision requirements). The property also features a substantial outbuilding with an enclosed, oversized garage and extensive covered storage—ideal for equipment, vehicles, or recreational toys and boats. Whether you’re seeking your next renovation project or a long-term investment, this one-of-a-kind property presents options that are increasingly hard to find. Property is being sold as-is, with the buyer responsible for all inspections, zoning verification, and due diligence. CASH ONLY

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $18,123
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$5,868
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$4,361
• Taxable loss: −$5,650
• Est. tax savings @ 24.0%: +$1,356
• After-tax cash flow: $-1,876/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 · 13 photos

Fair 45/100 Moderate rehab

This property is in fair condition with significant potential for improvement. It requires exterior painting, roof repair/replacement, and exterior siding repair, as well as landscaping and fencing maintenance. These updates can greatly increase its resale and rental value.

Repairs flagged

• Major exterior painting — The exterior appears to be in poor condition and in need of painting.
• Major roof repair/replacement — The roof appears to be in poor condition and in need of repair or replacement.
• Major exterior siding repair — The exterior siding appears to be in poor condition and in need of repair.
• Major landscaping and fencing maintenance — The landscaping and fencing appear to be in poor condition and in need of maintenance.

Value-add opportunities

• Resale exterior painting — A fresh coat of paint can significantly improve the curb appeal and resale value of the property.
• Resale roof repair/replacement — A new roof can greatly increase the property's value and reduce maintenance costs.
• Resale exterior siding repair — Repairing the exterior siding can improve the property's appearance and increase its resale value.
• Resale landscaping and fencing maintenance — A well-maintained landscape and fencing can improve the property's curb appeal and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior painting · The exterior appears to be in poor condition and in need of painting.	Major	$15,000–50,000
roof repair/replacement · The roof appears to be in poor condition and in need of repair or replacement.	Major	$15,000–50,000
exterior siding repair · The exterior siding appears to be in poor condition and in need of repair.	Major	$15,000–50,000
landscaping and fencing maintenance · The landscaping and fencing appear to be in poor condition and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale exterior painting — A fresh coat of paint can significantly improve the curb appeal and resale value of the property. ↑
• Resale roof repair/replacement — A new roof can greatly increase the property's value and reduce maintenance costs. ↑
• Resale exterior siding repair — Repairing the exterior siding can improve the property's appearance and increase its resale value. ↑
• Resale landscaping and fencing maintenance — A well-maintained landscape and fencing can improve the property's curb appeal and increase its resale value. ↑

ⓘ 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: 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 — Little Creek

• Score: 61/100
• State rank: #66
• US rank: #18416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Little Creek, DE

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-04-29 Relisted — BRIGHT MLS
• 2026-04-08 Pending — BRIGHT MLS
• 2026-01-17 Listed $149,900 BRIGHT MLS