404 West St · Clayton, DE 19938

$171,000

3 bd · 1.0 ba · 1,944 sqft · SingleFamily public records · 52 Days on market

Built 1900 4,182 sqft lot

---

Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

Key facts

• Fenced back yard
• Shed
• Large front porch

Tags

• LARGE FRONT PORCH
• FENCED BACK YARD
• SHED
• HISTORICAL FEATURES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: other
• Home design: Semi-detached structure; Building winterized
• Construction: Vinyl siding; Block foundation; Other structures above and below grade
• Exterior features: Porch(es)

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fireplace with mantel; Basement with connecting stairway; partially finished and unfinished areas; interior access; Living area per assessor
• Laundry & utility: Laundry hookups on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $171k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• Recommended offer: $166k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 1.9% in Clayton — 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 72/100 on livability (#11 in DE) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Smyrna School District (rural): math 22% / reading 39% proficiency, ranked #16 of 26 in DE (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clayton Elementary School (math 27% / reading 37%, grade F, #44 of 105 statewide, top 46%, 475 students, 0% FRL); Smyrna Middle School (math 18% / reading 41%, grade F, #16 of 36 statewide, top 43%, 1,027 students, 0% FRL); Smyrna High School (math 21% / reading 45%, grade F, #22 of 40 statewide, top 56%, 1,807 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,201 units permitted in Kent County in 2024 (116 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.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 34y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $165,870 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.46% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.50%
• DSCR: 2.05
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $357,696
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Clayton Ave	0.04mi	3/1.5	2,046 (+5%)	23mo	$215,000	$105	68
212 S Main St	0.19mi	4/2.0 (+1)	1,708 (-12%)	4mo	$130,000	$76	58
87 Foxwood Dr	0.53mi	4/3.0 (+1)	1,879 (-3%)	8mo	$369,000	$196	50
1237 Smyrna Clayton Blvd	0.48mi	4/2.5 (+1)	1,936 (-0%)	23mo	$386,000	$199	47
14 Clayton Dr	0.63mi	4/2.0 (+1)	1,900 (-2%)	15mo	$142,950	$75	45
48 Foxwood Dr	0.67mi	3/3.5	1,888 (-3%)	18mo	$367,500	$195	38
216 Nugent Loop	0.50mi	4/2.5 (+1)	2,172 (+12%)	14mo	$399,592	$184	35
6 Redden Cir	0.67mi	3/2.0	1,792 (-8%)	22mo	$95,000	$53	33

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: 16.6%
• Equity multiple: 1.67×
• Total profit: $31,971
• Equity at exit: $25,497

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $104,546
• Equity at exit: $14,785

Cash invested: $47,880 (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 19938

• Home prices YoY: -26.8%
• Active inventory: 31
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$897
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $938

Break-even live

Break-even rent $1,313

Max offer price $171,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,035	-5% $986	+0% $938	+5% $889	+10% $841
Rent	-10% $740	-5% $839	+0% $938	+5% $1,037	+10% $1,135
Rate	-1.0pp $1,024	-0.5pp $981	base $938	+0.5pp $894	+1.0pp $848

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: $42,750
• Closing costs: $5,130
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Greens Branch Ln Smyrna, DE	4.0	2.5	2105	$2,500	$1.19	45d	1	1.35mi

Listing history 46 events

1. 2026-06-19
   days on market $171,000 Active 52 DOM
2. 2026-06-18
   days on market $171,000 Active 51 DOM
3. 2026-06-17
   days on market $171,000 Active 50 DOM
4. 2026-06-17
   remarks 582-char remark
5. 2026-06-17
   price $171,000 Active 49 DOM
6. 2026-06-16
   days on market $190,000 Active 49 DOM
7. 2026-06-15
   days on market $190,000 Active 48 DOM
8. 2026-06-14
   days on market $190,000 Active 46 DOM
9. 2026-06-13
   days on market $190,000 Active 45 DOM
10. 2026-06-10
    days on market $190,000 Active 43 DOM
11. 2026-06-09
    days on market $190,000 Active 42 DOM
12. 2026-06-08
    days on market $190,000 Active 41 DOM
13. 2026-06-07
    days on market $190,000 Active 40 DOM
14. 2026-06-05
    days on market $190,000 Active 37 DOM
15. 2026-06-02
    days on market $190,000 Active 35 DOM
16. 2026-06-01
    days on market $190,000 Active 34 DOM
17. 2026-05-31
    days on market $190,000 Active 33 DOM
18. 2026-05-30
    days on market $190,000 Active 32 DOM
19. 2026-05-21
    status Active
20. 2026-02-09
    status Pending
21. 2026-02-09
    historical
22. 2026-01-17
    listed $190,000 Active
23. 2021-07-19
    soldstatus $247,000
24. 2021-07-14
    soldstatus $247,000 Closed 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

25. 2021-05-24
    status Pending 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

26. 2021-05-14
    price $249,900 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

27. 2021-05-14
    status Active 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

28. 2021-03-29
    status Pending 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

29. 2021-03-12
    price $246,900 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

30. 2021-01-15
    listed $254,900 Active 428-char remark

    Show marketing remark (428 chars)

    Back on the market due to buyer financing. Repairs have been made. A stainless, 24" wall oven has been added. You won't believe how much space there is in this recently remodeled home. Brand new HVAC, new windows, kitchen updates, new laundry room, updates to bathrooms with ceramic tile, new carpeting, updating wood floors. Home has a spacious front porch with tile. Home is attached on one side. This is a must see home!

31. 2020-10-23
    soldstatus $106,000
32. 2020-10-20
    historical 117-char remark

    Show marketing remark (117 chars)

    INVESTOR ALERT! Come see this great home in the heart of Clayton in need of some sweat equity. Home being sold as-is.

33. 2020-10-19
    soldstatus $106,000 Closed 117-char remark

    Show marketing remark (117 chars)

    INVESTOR ALERT! Come see this great home in the heart of Clayton in need of some sweat equity. Home being sold as-is.

34. 2020-09-26
    status Pending 117-char remark

    Show marketing remark (117 chars)

    INVESTOR ALERT! Come see this great home in the heart of Clayton in need of some sweat equity. Home being sold as-is.

35. 2020-05-27
    price $125,000 117-char remark

    Show marketing remark (117 chars)

    INVESTOR ALERT! Come see this great home in the heart of Clayton in need of some sweat equity. Home being sold as-is.

36. 2019-11-07
    listed $139,000 Active 117-char remark

    Show marketing remark (117 chars)

    INVESTOR ALERT! Come see this great home in the heart of Clayton in need of some sweat equity. Home being sold as-is.

37. 2009-07-28
    historical
38. 2008-08-07
    listed $159,900
39. 2007-04-05
    soldstatus $147,000
40. 2007-03-02
    historical
41. 2006-11-29
    listed $147,000
42. 2006-08-29
    historical
43. 2006-05-25
    listed $169,900
44. 1992-10-01
    soldstatus $69,000
45. 1992-07-16
    soldstatus $69,000
46. 1992-05-28
    listed $69,000

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $911 · $76/mo
• Expected delta: +$81/yr (+$7/mo · 9.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$9,579
• − Property taxes: −$830
• − Insurance: −$855
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,975
• Taxable income: $8,962
• Est. tax owed @ 24.0%: −$2,151
• After-tax cash flow: $9,103/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: Smyrna School District
• NCES district ID: 1001620
• Math proficiency: 22% ▼ -25.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $61,704
• Composite: 27.67/100
• National rank: #6915
• State rank: #16 of 26 in DE

Livability — Clayton

• Score: 72/100
• State rank: #11
• US rank: #5758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, DE
• Population (ZIP): 9,867

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 21% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Subsaharan African 1%
• Foreign-born: 5% · Canada, Vietnam, South Korea
• Languages at home: 92% English-only · Spanish 3% Korean 1% Vietnamese 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: ▼ -70.09%
• Current HPI: 191.9556
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+175.4% since first listed

28 events — show timeline

• 2026-05-21 Relisted — BRIGHT MLS
• 2026-02-09 Pending — BRIGHT MLS
• 2026-02-09 Listing Removed — BRIGHT MLS
• 2026-01-17 Listed $190,000 BRIGHT MLS
• 2021-07-19 Sold (Public Records) $247,000 Public Records
• 2021-07-14 Sold (MLS) $247,000 BRIGHT MLS
• 2021-05-24 Pending — BRIGHT MLS
• 2021-05-14 Price Changed $249,900 BRIGHT MLS
• 2021-05-14 Relisted — BRIGHT MLS
• 2021-03-29 Pending — BRIGHT MLS
• 2021-03-12 Price Changed $246,900 BRIGHT MLS
• 2021-01-15 Listed $254,900 BRIGHT MLS
• 2020-10-23 Sold (Public Records) $106,000 Public Records
• 2020-10-20 Listing Removed — BRIGHT MLS
• 2020-10-19 Sold (MLS) $106,000 BRIGHT MLS
• 2020-09-26 Pending — BRIGHT MLS
• 2020-05-27 Price Changed $125,000 BRIGHT MLS
• 2019-11-07 Listed $139,000 BRIGHT MLS
• 2009-07-28 Listing Removed — BRIGHT MLS
• 2008-08-07 Listed $159,900 BRIGHT MLS
• 2007-04-05 Sold (MLS) $147,000 BRIGHT MLS
• 2007-03-02 Listing Removed — BRIGHT MLS
• 2006-11-29 Listed $147,000 BRIGHT MLS
• 2006-08-29 Listing Removed — BRIGHT MLS
• 2006-05-25 Listed $169,900 BRIGHT MLS
• 1992-10-01 Sold (Public Records) $69,000 Public Records
• 1992-07-16 Sold (MLS) $69,000 BRIGHT MLS
• 1992-05-28 Listed $69,000 BRIGHT MLS

Property tax history

+5.2%/yr

Latest (2025): $830 · -0.6% YoY. Source: county tax records.