74 Par Haven Dr · Dover, DE 19904

$130,000

2 bd · 1.5 ba · 1,008 sqft · Condo · 135 Days on market

Built 1978 $129/sqft · at area comps Est $125k · at est. $384/mo HOA · 23% of rent

---

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 +21.1/30.0
• 1% rule +8.1/10.0
• DSCR +6.7/10.0
• ARV discount +5.9/15.0
• 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

Move-in ready 2-bedroom, 1.5-bath condo located on the 3rd floor with great views from both inside the unit and the private balcony. The home features a neutral color palette with durable LVP and tile flooring throughout. Enjoy an eat-in kitchen, in-unit laundry, and a functional layout perfect for everyday living. The primary bedroom offers a spacious walk-in closet and a convenient en-suite half bath. Bright, well-maintained, and ready for its next owner - this condo checks all the boxes.

Key facts

• $384 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: crime F, commute F, employment D-.
• 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.
• Zoned schools: Booker T. Washington Elementary School (math 27% / reading 42%, grade F, #34 of 105 statewide, top 37%, 334 students, 0% FRL); Central Middle School (math 12% / reading 31%, grade F, #27 of 36 statewide, top 77%, 860 students, 0% FRL); Dover High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,771 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 231 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $899 of loan paydown is wiped out by about $4k 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 135 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $130k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major wind risk, 75% 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• GRM: 6.4

CMA / ARV

• ARV (median comp): $125,446
• List price: $130,000
• Delta: 3.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-8,554
• Equity at exit: $19,383

10-year hold

• IRR: 3.9%
• Equity multiple: 1.29×
• Total profit: $10,650
• Equity at exit: $11,240

Cash invested: $36,400 (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 19904

• Rents YoY: 3.3%
• Active inventory: 231
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$682
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$54
• HOA: −$384
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $185

Break-even live

Break-even rent $1,471

Max offer price $130,000

Occupancy floor 84%

Sensitivity live

Price	-10% $259	-5% $222	+0% $185	+5% $149	+10% $112
Rent	-10% $51	-5% $118	+0% $185	+5% $253	+10% $320
Rate	-1.0pp $251	-0.5pp $218	base $185	+0.5pp $152	+1.0pp $117

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Par Haven Dr Unit J23 Dover, DE	2.0	1.5	1050	$1,650	$1.57	45d	1	0.09mi
44 Courtside Dr Unit B31 Dover, DE	2.0	1.5	1008	$1,650	$1.64	45d	1	0.13mi
70 Greenway Sq Dover, DE	3.0	1.0–2.0	769	$1,783	$2.32	45d	1	0.19mi
33 Fieldstone Ct Dover, DE	2.0	1.5	1120	$1,550	$1.38	45d	1	0.45mi
11 Dover Hall Unit 434 Dover, DE	2.0	2.0	960	$1,700	$1.77	45d	1	0.49mi
236 Green Blade Dr Dover, DE	3.0	2.5	1200	$1,850	$1.54	45d	1	0.50mi
1300 S Farmview Dr Dover, DE	1.0–2.0	1.0–2.0	888	$1,699	$1.91	45d	8	0.53mi
114 Thames Dr Dover, DE	2.0	2.5	1452	$1,650	$1.14	45d	1	0.64mi
105 Katrina Way Dover, DE	1.0–3.0	1.0–2.0	952	$1,800	$1.89	45d	22	0.71mi
63 Forest Creek Dr Dover, DE	3.0	1.5	1322	$1,600	$1.21	45d	1	1.13mi
892 Woodcrest Dr Dover, DE	2.0	1.0–1.5	521	$1,690	$3.24	45d	15	1.48mi

HOA detail condo

• Monthly dues: $384 · $4,608/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-22
   statusdays on market $130,000 Pending 135 DOM
2. 2026-06-19
   days on market $130,000 Active 133 DOM
3. 2026-06-18
   days on market $130,000 Active 132 DOM
4. 2026-06-17
   days on market $130,000 Active 131 DOM
5. 2026-06-16
   days on market $130,000 Active 130 DOM
6. 2026-06-15
   days on market $130,000 Active 129 DOM
7. 2026-06-14
   days on market $130,000 Active 127 DOM
8. 2026-06-13
   days on market $130,000 Active 126 DOM
9. 2026-06-10
   days on market $130,000 Active 124 DOM
10. 2026-06-09
    days on market $130,000 Active 123 DOM
11. 2026-06-08
    days on market $130,000 Active 122 DOM
12. 2026-06-07
    days on market $130,000 Active 121 DOM
13. 2026-06-02
    days on market $130,000 Active 116 DOM
14. 2026-06-01
    days on market $130,000 Active 115 DOM
15. 2026-05-31
    days on market $130,000 Active 114 DOM
16. 2026-05-30
    days on market $130,000 Active 113 DOM
17. 2026-05-08
    price $130,000 495-char remark

    Show marketing remark (495 chars)

    Move-in ready 2-bedroom, 1.5-bath condo located on the 3rd floor with great views from both inside the unit and the private balcony. The home features a neutral color palette with durable LVP and tile flooring throughout. Enjoy an eat-in kitchen, in-unit laundry, and a functional layout perfect for everyday living. The primary bedroom offers a spacious walk-in closet and a convenient en-suite half bath. Bright, well-maintained, and ready for its next owner - this condo checks all the boxes.

18. 2026-03-05
    price $135,000 495-char remark

    Show marketing remark (495 chars)

    Move-in ready 2-bedroom, 1.5-bath condo located on the 3rd floor with great views from both inside the unit and the private balcony. The home features a neutral color palette with durable LVP and tile flooring throughout. Enjoy an eat-in kitchen, in-unit laundry, and a functional layout perfect for everyday living. The primary bedroom offers a spacious walk-in closet and a convenient en-suite half bath. Bright, well-maintained, and ready for its next owner - this condo checks all the boxes.

19. 2026-02-07
    listed $140,000 Active 495-char remark

    Show marketing remark (495 chars)

    Move-in ready 2-bedroom, 1.5-bath condo located on the 3rd floor with great views from both inside the unit and the private balcony. The home features a neutral color palette with durable LVP and tile flooring throughout. Enjoy an eat-in kitchen, in-unit laundry, and a functional layout perfect for everyday living. The primary bedroom offers a spacious walk-in closet and a convenient en-suite half bath. Bright, well-maintained, and ready for its next owner - this condo checks all the boxes.

20. 2026-01-31
    historical $140,000 495-char remark

    Show marketing remark (495 chars)

    Move-in ready 2-bedroom, 1.5-bath condo located on the 3rd floor with great views from both inside the unit and the private balcony. The home features a neutral color palette with durable LVP and tile flooring throughout. Enjoy an eat-in kitchen, in-unit laundry, and a functional layout perfect for everyday living. The primary bedroom offers a spacious walk-in closet and a convenient en-suite half bath. Bright, well-maintained, and ready for its next owner - this condo checks all the boxes.

21. 2019-08-21
    soldstatus $60,000
22. 2019-08-19
    soldstatus $60,000 Closed 421-char remark

    Show marketing remark (421 chars)

    This first floor unit is located in the front of the complex. You have a private screened balcony with a wooded backdrop. A large living room, eating area and kitchen offers lots of living space. All the appliances remain. The utility room has space for extra supplies. This is a clean unit and ready for a new owner. New heater and hot water heater. Tenant has lived here for 10 years and would love to continue to stay.

23. 2019-05-21
    status Pending 421-char remark

    Show marketing remark (421 chars)

    This first floor unit is located in the front of the complex. You have a private screened balcony with a wooded backdrop. A large living room, eating area and kitchen offers lots of living space. All the appliances remain. The utility room has space for extra supplies. This is a clean unit and ready for a new owner. New heater and hot water heater. Tenant has lived here for 10 years and would love to continue to stay.

24. 2019-03-06
    listed $65,000 Active 421-char remark

    Show marketing remark (421 chars)

    This first floor unit is located in the front of the complex. You have a private screened balcony with a wooded backdrop. A large living room, eating area and kitchen offers lots of living space. All the appliances remain. The utility room has space for extra supplies. This is a clean unit and ready for a new owner. New heater and hot water heater. Tenant has lived here for 10 years and would love to continue to stay.

25. 2006-09-07
    soldstatus $80,000
26. 1999-01-13
    historical
27. 1998-10-13
    listed $57,500

ⓘ 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: $507 · $42/mo
• Projected year-2 tax: $631 · $53/mo
• Expected delta: +$123/yr (+$10/mo · 24.3%)

ⓘ 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 6/10 Major 75% 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: $20,469
• − Mortgage interest: −$7,282
• − Property taxes: −$507
• − Insurance: −$650
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − HOA: −$4,608
• − Depreciation: −$3,782
• Taxable income: $365
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $2,137/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

+126.1% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $130,000 BRIGHT MLS
• 2026-03-05 Price Changed $135,000 BRIGHT MLS
• 2026-02-07 Listed $140,000 BRIGHT MLS
• 2026-01-31 Coming Soon $140,000 BRIGHT MLS
• 2019-08-21 Sold (Public Records) $60,000 Public Records
• 2019-08-19 Sold (MLS) $60,000 BRIGHT MLS
• 2019-05-21 Pending — BRIGHT MLS
• 2019-03-06 Listed $65,000 BRIGHT MLS
• 2006-09-07 Sold (Public Records) $80,000 Public Records
• 1999-01-13 Listing Removed — BRIGHT MLS
• 1998-10-13 Listed $57,500 BRIGHT MLS

Property tax history

+0.2%/yr

Latest (2025): $507 · +3.5% YoY. Source: county tax records.