23 Chandler St · Seaford, DE 19973

$229,000

3 bd · 1.0 ba · 768 sqft · SingleFamily · 11 Days on market

Built 1958 2,614 sqft lot Est $164k · 39% over

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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 +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

🏡 Affordable Starter Home in Seaford Town Limits! 🏡 Looking for an affordable path to homeownership? This charming 3-bedroom, 1-bath home is a fantastic opportunity for first-time buyers ready to leave renting behind or for investors seeking a solid rental property. ✨ Property Features: •

Key facts

• 2,614 sq ft lot
• Built 1958
• Listed 11 days

Property features AI

Finance

• Other: Fee simple ownership; Pets allowed with no listed restrictions; Lot measures approximately 40 x 70; Ground rent paid annually

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public septic; 200+ amp electric service; Cable TV available; Broadband internet; Municipal trash not provided
• Home design: Detached single-family home; Above-grade finished living space only; Not in a federal flood zone
• Construction: Frame construction; Block foundation; Architectural shingle roof
• Exterior features: Gutter system; Backs to trees

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric baseboard heating; Window cooling units
• Interior features: Tub with shower; Replacement windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/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 $210k (8.5% below list).
• Recommended offer: $210k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.4% in Seaford — 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 64/100 on livability (#54 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Seaford School District (suburban): math 25% / reading 40% proficiency, ranked #15 of 26 in DE (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Frederick Douglass Elementary School (math 40% / reading 49%, grade F, #18 of 105 statewide, top 18%, 411 students, 0% FRL); Seaford Middle School (math 13% / reading 36%, grade F, #24 of 36 statewide, top 69%, 828 students, 0% FRL); Seaford Senior High School (math 12% / reading 27%, grade F, #32 of 40 statewide, top 85%, 879 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 215 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).

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.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• 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 $209,634 (8.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.92% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $164,352
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Griffin St	0.06mi	2/1.0 (-1)	864 (+12%)	11mo	$185,000	$214	62
8403 Nylon Ave	0.61mi	2/1.0 (-1)	864 (+12%)	8mo	$183,000	$212	39
8526 Concord Rd	0.68mi	3/1.0	866 (+13%)	15mo	$246,000	$284	35

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-17,202
• Equity at exit: $34,145

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $10,330
• Equity at exit: $19,800

Cash invested: $64,120 (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 19973

• Home prices YoY: -17.8%
• Active inventory: 215
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,096 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $314

Break-even live

Break-even rent $1,698

Max offer price $229,000

Occupancy floor 80%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Water St Seaford, DE	1.0–3.0	1.0–2.0	1174	$2,095	$1.78	13d	1	0.38mi
23033 Meadow Wood Ct Seaford, DE	1.0–3.0	1.0–2.0	1054	$2,100	$1.99	13d	1	1.15mi

Listing history 9 events

1. 2026-06-18
   days on market $229,000 Coming Soon 11 DOM
2. 2026-06-17
   days on market $229,000 Coming Soon 10 DOM
3. 2026-06-16
   days on market $229,000 Coming Soon 9 DOM
4. 2026-06-15
   days on market $229,000 Coming Soon 8 DOM
5. 2026-06-13
   days on market $229,000 Coming Soon 6 DOM
6. 2026-06-12
   days on market $229,000 Coming Soon 5 DOM
7. 2026-06-09
   days on market $229,000 Coming Soon 2 DOM
8. 2026-06-07
   remarks 289-char remark
9. 2026-06-07
   listed $229,000 Coming Soon 1 DOM

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$392/yr (+$33/mo · 71.8%)

ⓘ 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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,156
• − Mortgage interest: −$12,828
• − Property taxes: −$545
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − Depreciation: −$6,662
• Taxable loss: −$48
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $3,784/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: Seaford School District
• NCES district ID: 1001530
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $48,427
• Composite: 28.07/100
• National rank: #6835
• State rank: #15 of 26 in DE

Livability — Seaford

• Score: 64/100
• State rank: #54
• US rank: #14448

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seaford, DE
• Population (ZIP): 25,786

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 20% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% Vietnamese 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.40%
• Current HPI: 288.5652
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-07 Coming Soon $229,000 BRIGHT MLS

Property tax history

+22.8%/yr

Latest (2025): $545 · +418.9% YoY. Source: county tax records.