2402 N Van Buren St · Wilmington, DE 19802

$229,900

3 bd · 1.0 ba · 1,375 sqft · Townhouse public records · 146 Days on market

Built 1930 1,307 sqft lot $167/sqft · 6% below area Est $246k · 6% under

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +10.4/15.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Offering Seller Assistance! Come claim your home at 2402 N van Buren St, Wilmington, DE 19802! This stunning, refinished semi detached home was made for someone who’s ready to stop renting and start building generational wealth. Walk in and feel the glow: ✨ Sizeable kitchen with beautiful counters, appliances, and natural light perfect for brunch or late-night wine & vision board sessions ✨ Gorgeous luxury vinyl floors and sparkling refinished hardwoods that look expensive but can handle kids, heels, and everything in between ✨ Spacious bedrooms – one for you, one for the kids, one for that home office or glam room you deserve ✨ Bright, open layout with great lighting Fi

Key facts

• Built 1930
• Listed 146 days

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $12 ($144/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (22.6% below list).
• Recommended offer: $178k (22.6% below list) — sets the bar for 1% rule.

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.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Warner Elementary School (math 2% / reading 2%, grade F, #104 of 105 statewide, top 100%, 360 students, 0% FRL); Skyline Middle School (math 14% / reading 20%, grade F, #32 of 36 statewide, top 89%, 475 students, 0% FRL); Dickinson (John) School (math 24% / reading 47%, grade F, #17 of 40 statewide, top 41%, 1,058 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 18% at this address vs 34% district-wide (-16 pts) — the specific schools serving this property underperform the Red Clay Consolidated School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.7%/yr); 132 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 40% of the median local income ($54k/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 $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.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago 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: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $177,836 (22.6% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.77% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

• ARV (median comp): $245,617
• List price: $229,900
• Delta: -6.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2011 N West St	0.43mi	4/1.0 (+1)	1,375 (0%)	1mo	$135,000	$98	74
623 W Twenty Eighth St	0.19mi	3/1.5	1,250 (-9%)	1mo	$235,000	$188	74
305 W 21st St	0.33mi	3/1.5	1,450 (+6%)	1mo	$290,000	$200	73
212 W 25th St	0.33mi	3/1.0	1,225 (-11%)	1mo	$80,000	$65	66
2009 N Tatnall St	0.49mi	3/1.0	1,475 (+7%)	1mo	$170,000	$115	64
125 W 20th St	0.47mi	3/1.0	1,500 (+9%)	1mo	$235,000	$157	62
2708 Thompson Pl	0.28mi	3/1.0	1,175 (-14%)	1mo	$215,000	$183	62
2412 Lamotte St	0.57mi	3/1.0	1,275 (-7%)	0mo	$125,000	$98	61
2321 N Tatnall St	0.42mi	3/1.5	1,525 (+11%)	1mo	$216,000	$142	60
24 W 30th St	0.53mi	3/2.0	1,478 (+8%)	0mo	$280,000	$189	59
222 E 30th St	0.72mi	3/2.0	1,400 (+2%)	1mo	$280,000	$200	58
222 W 22nd St	0.37mi	3/2.5	1,525 (+11%)	1mo	$265,000	$174	58

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.51×
• Total profit: $-31,586
• Equity at exit: $34,279

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-5,212
• Equity at exit: $19,878

Cash invested: $64,372 (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 19802

• Rents YoY: 5.7%
• Active inventory: 132
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$92 /mo · $1,098/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $12

Break-even live

Break-even rent $1,763

Max offer price $229,900

Occupancy floor 94%

Sensitivity live

Price	-10% $142	-5% $77	+0% $12	+5% $-53	+10% $-118
Rent	-10% $-129	-5% $-58	+0% $12	+5% $82	+10% $152
Rate	-1.0pp $128	-0.5pp $70	base $12	+0.5pp $-48	+1.0pp $-108

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	26d	1	0.13mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	26d	1	0.24mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	45d	1	0.25mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	26d	1	0.25mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	26d	1	0.26mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	45d	1	0.26mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	26d	1	0.29mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	12d	1	0.31mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	14d	1	0.31mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	45d	1	0.31mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	17d	1	0.33mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	45d	1	0.36mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	0d	1	0.41mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	45d	1	0.43mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	45d	1	0.44mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	26d	1	0.50mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	45d	1	0.52mi
3408 Miller Rd Wilmington, DE	1.0–2.0	1.0–2.0	889	$1,775	$2.00	0d	8	0.57mi
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	45d	1	0.59mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	45d	1	0.69mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	14d	1	0.71mi
903 Shallcross Ave Wilmington, DE	2.0	1.5	1575	$2,195	$1.39	26d	1	0.77mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	45d	1	0.82mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	20d	1	0.87mi
1610 N Broom St Unit 2 Wilmington, DE	2.0	1.0	1000	$2,150	$2.15	45d	1	0.89mi
1301 N Harrison St Wilmington, DE	1.0–2.0	1.0	1050	$1,850	$1.76	7d	1	0.90mi
1207 Delaware Ave Wilmington, DE	2.0	1.0	1200	$1,700	$1.42	13d	1	0.92mi
1501 N Broom St Unit 2/3 Wilmington, DE	2.0	2.5	1250	$2,500	$2.00	7d	1	0.96mi
1210 Delaware Ave Unit 3 Wilmington, DE	2.0	1.0	1200	$2,395	$2.00	45d	1	0.96mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	925	$2,695	$2.91	14d	4	0.97mi
1212 Delaware Ave Wilmington, DE	2.0	1.0–2.0	700	$2,495	$3.56	45d	4	0.97mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	0d	1	0.99mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	0d	61	1.00mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	0d	1	1.01mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	45d	1	1.02mi
613 W 10th St Wilmington, DE	2.0	1.0	1100	$1,745	$1.59	45d	1	1.03mi
1010 Trenton Pl Wilmington, DE	3.0	1.5	1475	$2,350	$1.59	18d	1	1.03mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	22d	1	1.04mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,590	$1.45	18d	1	1.04mi
1504 Delaware Ave Wilmington, DE	2.0	1.0	1100	$1,749	$1.59	23d	1	1.04mi

Listing history 17 events

1. 2026-06-21
   days on market $229,900 Active 146 DOM
2. 2026-06-18
   days on market $229,900 Active 143 DOM
3. 2026-06-17
   days on market $229,900 Active 142 DOM
4. 2026-06-16
   days on market $229,900 Active 141 DOM
5. 2026-06-15
   days on market $229,900 Active 140 DOM
6. 2026-06-13
   days on market $229,900 Active 138 DOM
7. 2026-06-13
   days on market $229,900 Active 137 DOM
8. 2026-06-09
   days on market $229,900 Active 134 DOM
9. 2026-06-08
   pricestatusdays on market $229,900 Active 133 DOM
10. 2026-05-13
    historical
11. 2026-04-27
    price $219,900
12. 2026-03-19
    price $225,000
13. 2026-02-05
    price $230,000
14. 2025-12-31
    listed $235,000 Active
15. 2019-06-19
    historical
16. 2019-06-11
    price $62,500
17. 2019-05-29
    listed $65,000 Active

ⓘ 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: $1,098 · $92/mo
• Projected year-2 tax: $1,216 · $101/mo
• Expected delta: +$118/yr (+$10/mo · 10.7%)

ⓘ 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 · 16 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: $21,340
• − Mortgage interest: −$12,878
• − Property taxes: −$1,098
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$6,688
• Taxable loss: −$3,888
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $1,077/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: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 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): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

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 Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

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: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+238.3% since first listed

8 events — show timeline

• 2026-05-13 Listing Removed — BRIGHT MLS
• 2026-04-27 Price Changed $219,900 BRIGHT MLS
• 2026-03-19 Price Changed $225,000 BRIGHT MLS
• 2026-02-05 Price Changed $230,000 BRIGHT MLS
• 2025-12-31 Listed $235,000 BRIGHT MLS
• 2019-06-19 Listing Removed — BRIGHT MLS
• 2019-06-11 Price Changed $62,500 BRIGHT MLS
• 2019-05-29 Listed $65,000 BRIGHT MLS

Property tax history

+34.7%/yr

Latest (2024): $1,098 · +15.1% YoY. Source: county tax records.