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1401 Pennsylvania Ave APT 302
Score
0
Wilmington, DE

1401 Pennsylvania Ave APT 302

139K
1 bd • 1 ba • 0 sf

This analysis was generated on 2/20/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

0:00
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List Price

$139,000

Price/Sq.Ft

$∞

Year Built

1960

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Location: Situated in the heart of Trolley Square, the condo is within walking distance of parks, restaurants, bars, and other amenities. This location offers a vibrant urban lifestyle. • Updated Unit: The listing mentions a "freshly updated unit," suggesting recent renovations or improvements that enhance the property's appeal. • Comprehensive Condo Fee: The condo fee covers virtually everything (exterior maintenance, electricity, water, trash, sewer, & snow removal), simplifying budgeting and reducing maintenance responsibilities. • Building Amenities: The building offers a range of amenities, including 24-hour concierge/security, secure covered garage with valet parking, elevators, a community meeting room, and a laundry room. • Public Transportation Access: Bus stops in front of the building and nearby provide convenient access to public transportation, reducing reliance on a car.

The Bad

• Lack of Square Footage: The listing omits the square footage, making it difficult to assess the unit's size and value accurately. Comparable units should be researched to understand market rates. • High Condo Fee: While inclusive, the condo fee's specific amount is not listed, making it hard to determine the overall cost of ownership. High condo fees can deter potential buyers. • "As Is" Condition: The property is sold "as is," meaning the buyer assumes all responsibility for repairs. This requires a thorough inspection to identify potential problems. • Moderate Flood Risk (4/10): This suggests the property is somewhat susceptible to flooding, potentially increasing insurance costs. • Major Wind Risk (6/10): This indicates a significant risk of wind damage, necessitating adequate insurance coverage.

The Ugly

• Declining Property Value: The property has experienced multiple price reductions in a short period (6.7%, 6.8%, and 11.2% decreases in January 2025). This could indicate underlying issues or a market correction. • Troubled Sales History: The property has been listed and removed multiple times over the past few years, suggesting potential challenges in finding a buyer. This history could raise concerns about the property's desirability. • Low School Ratings: The nearby public schools have very low ratings (1/10, 2/10, and 3/10), which can negatively impact property values and deter families with children. • Moderate Air Quality Risk (3/10): With 2 bad air days per year, air quality could be a concern for sensitive individuals. Consider the impact on respiratory health. • Severe Heat Risk (7/10): With a 98th percentile temperature of 103°F and 7 hot days per year, the property is subject to significant heat. Ensure adequate cooling systems are in place.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Individuals seeking a low-maintenance lifestyle: The condo fee covers virtually all major expenses, including utilities, exterior maintenance, and snow removal, simplifying budgeting and reducing upkeep responsibilities. • Buyers prioritizing location and convenience: Situated in Trolley Square, the condo offers walkability to parks, restaurants, and bars, with easy access to public transportation and major highways. • Those seeking secure living with amenities: The 24-hour concierge/security, secure covered garage (with valet option), and elevators provide added safety and convenience. • Buyers who value community spaces: Access to a community meeting room, laundry room, and a "Secret Garden" sitting area fosters social interaction and provides shared resources. • Buyers comfortable with older properties: Those who appreciate the character of a 1960s building and are open to potential updates or renovations as needed.

Not For

• Buyers requiring ample living space: Without square footage information, it's difficult to determine, but condos are generally smaller than single-family homes. Those needing significant space may find this unit too compact. • Buyers seeking modern construction: The building was built in 1960, so buyers seeking modern amenities and updated infrastructure might be disappointed. Older buildings can have maintenance issues. • Risk-averse buyers: The moderate flood risk (4/10) and major wind risk (6/10) may deter buyers seeking minimal climate-related risks. Insurance costs related to these risks should be factored in. • Buyers with children: The low school ratings (1/10, 2/10, and 3/10) for nearby public schools might be a concern for families with children. Private school tuition would be an added expense. • Buyers on a tight budget: While the listing price is relatively low, the high condo fee could strain a tight budget. Buyers should carefully assess their ability to cover the monthly costs.
Demographics
Area Median Income

$74,464

Property History

Price History
Ownership Timeline
$0Cash Purchase
Dec 5, 2024
Jadyn WorthingtonEsther Branch
Deed
Non-Arm's Length Transactions
$0Cash Purchase
Sep 8, 2021
James G MenzJadyn Worthington
Deed
Non-Arm's Length Transactions
$59,500Financed
Oct 29, 2015
Veronica Haesler, Estate Of Mary Anne KliszejkoJames G Menz
Deed
Standard Sale (Purchase/Resales)

Property Taxes

$4,627
2024 Tax Assessment
55.8%from previous year
Assessed Value$50,800
Tax Rate9.11%

Sunlight Analysis

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Sunlight Analysis

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Schools

Nearby school quality by education level

Elementary

2.0/10
Below Average

Middle

1.5/10
Below Average

Financials

Monthly Costs
Market Rent (1 bed)

$1,218

Get a detailed estimate on Zillow
HOA Fee

$700

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Location & Comparables

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