Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Updated Duplex in Wilmington Title is generated by Realmo AI

    1607 W 4TH Street, Wilmington, DE 19805

    View on Map
    Claim this Listing
    For Sale
    $230,000

    MULTI_FAMILY - Other - WILMINGTON, DE

    Property size:
    1,800 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $127/SF
    Added:
    Mar 27, 2026
    Days on Market:
    62
    Last Refresh:
    May 27 at 4:06 am

    Property Features for 1607 W 4TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Assigned, On Street
    Standard status
    Active
    Size
    1,800 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2531

    Utilities

    Heating system
    Other (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Jemimah E. Chuks
    Jemimah E. Chuks

    Listing agent Jemimah E. Chuks License #RS-0026132

    Listing office EXP Realty, LLC 11 Parkway Circle unit: 200, Dover, DE

    Listing date Mar 27, 2026

    MLS# DENC2099576 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑unit property ideal for owner‑occupancy with rental income potential.
    • Updated main floor unit (1 bed, 1 bath) and a second unit with 2 beds, 2 baths, and a bonus room.
    • Updated electrical systems enhance property value.
    • Suitable for investors seeking to expand or initiate a rental portfolio.
    • Potential to utilize grants or closing cost assistance for first‑time homebuyers.
    • Current tenant in place paying $1,400.

    Overview

    Located in Wilmington, Delaware, this two-unit property at 1607 W 4th St presents an opportunity for investors and first-time homebuyers. The main floor unit features one bedroom and one bathroom and has been updated. The second-floor unit includes two bedrooms, two bathrooms, and a bonus room suitable for a home office or a possible third bedroom. The property has updated electrical systems. The lot size is 0.04 acres, and the property size is 1800 square feet. The current tenants are paying $1,400. This multi-unit setup allows investors to add to their rental portfolio. First-time buyers can live in one unit and generate income from the second unit to offset mortgage payments.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $212.1K
    NOI $19,085 @ 9.00% cap · cautious / downside scenario
    Moderate
    $272.6K
    NOI $19,085 @ 7.00% cap · market / base-case scenario
    Aggressive
    $381.7K
    NOI $19,085 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $29.2k $16.20
    − Vacancy −$1.9k −$1.05
    EGI $27.3k $15.15
    − OpEx −$8.2k −$4.54
    NOI $19.1k $10.60
    1,800 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $272.6K
    $238.6K – $318.1K (±1% cap)
    NOI $19,085 @ 7.0% cap · market cap 8.30%
    Second Best
    Apartment 5plus
    $243.6K
    $213.1K – $284.2K (±1% cap)
    NOI $17,049 @ 7.0% cap · market cap 7.41%
    Theoretical Best
    Office A
    $430.5K
    $376.7K – $502.3K (±1% cap)
    NOI $30,138 @ 7.0% cap · market cap 13.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.56827
    Latitude
    39.74762

    Nearby Similar for Sale

    • $950,000

      Versatile Office Building with Parking

      Multi-tenant office building with private parking in Wilmington, DE.
      2400 W 4TH ST, WILMINGTON, DE 19805
      View Details
    • $439,900
      4,250 SF

      Wilmington Triplex: Investment Opportunity

      Well-maintained triplex in Wilmington with immediate rental income.
      902 N MADISON Street, WILMINGTON, DE 19801
      View Details
    • $395,000
      2,875 SF

      Trinity Vicinity Triplex in Wilmington

      Three 2-bedroom apartments in a vibrant, walkable Wilmington neighborhood.
      801 W 9TH Street, WILMINGTON, DE 19801
      View Details
    • $1,100,000

      Renovated Office Building in Wilmington

      Two-story office building in prime location with flexible suite arrangements.
      1501 N WALNUT Street, WILMINGTON, DE 19801
      View Details
    • $380,000
      2,268 SF

      Wilmington Mixed-Use Investment Opportunity

      Profitable mixed-use property with strong rental history in Wilmington.
      837 W 4TH Street, WILMINGTON, DE 19801
      View Details
    • $699,000

      Mixed-Use Building in Central Business District

      Three-story mixed-use building with restaurant and residential units.
      919 N ORANGE Street, WILMINGTON, DE 19801
      View Details
    • $475,000
      4,180 SF

      North Market Street Redevelopment Opportunity

      4,180 SF redevelopment opportunity in Wilmington's urban commercial area.
      1701 N MARKET St, Wilmington, DE 19802
      View Details
    • $895,000

      North Wilmington Commercial Opportunity

      Premium commercial property in North Wilmington with high visibility and accessibility.
      2417 SILVERSIDE RD, WILMINGTON, DE 19810
      View Details
    • $560,000

      Renovated Triplex in Triangle District

      Updated triplex in Wilmington's Triangle District, ideal for investors.
      709 W 19TH ST, WILMINGTON, DE 19802
      View Details
    • $180,000

      WILMINGTON Retail Opportunity For Sale

      Retail space for sale on a busy street.
      2910 N MARKET Street, WILMINGTON, DE 19802
      View Details
    • $125,000

      Commercial Unit in Desirable Condominium

      Private first-floor commercial unit suitable for various business needs.
      1401 PENNSYLVANIA Avenue, WILMINGTON, DE 19806
      View Details
    • $300,000

      Wilmington Office and Warehouse Space

      Flexible office and warehouse space with secure, fenced yard.
      1517 W 3RD St, Wilmington, DE 19805
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with updated electrical systems, suitable for investors.
    Where is this duplex located?
    The property is located at 1607 W 4TH Street Wilmington, DE.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Two‑unit property ideal for owner‑occupancy with rental income potential.; Updated main floor unit (1 bed, 1 bath) and a second unit with **2 beds, 2 baths, and a bonus room**.; Updated electrical systems enhance property value.
    (302) 359-8337
    We can help!
    Listing Contact
    Jemimah E. Chuks
    Jemimah E. Chuks
    Real Estate License ID: RS-0026132
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1607 W 4TH Street, WILMINGTON, DE 19805
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!