Semi-Detached Brick Duplex
For Sale
$329,900
2004 N BROOM STREET, Wilmington, DE 19802
SINGLE_FAMILY - WILMINGTON, DE
Property Size1,625 SF
Price / SF$203.02
Days on Market19
Property Features for 2004 N BROOM STREET
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 3, Bedroom 1
Subdivision
NONE AVAILABLE
High school
JOHN DICKINSON
Standard status
Active
Size
1,625 SF
Building Details
Year built
1957
Listing Agency:
BHHS Fox & Roach Hockessin-Pike Creek Home Marketing · Berkshire Hathaway HomeServices
(302) 999-9999
Listed By:
Scott Farnan · License #R3-0019815
(302) 528-8276
Added: Jul 22
Changed: Aug 2
Last Checked: Aug 9 at 11:06PM
MLS# DENC2107696
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
2004 N Broom Street is a spacious brick semi-detached home with duplex configuration, offering 1,625 square feet of living space. The main level features inviting living and dining areas with refinished hardwood flooring. The kitchen has been totally updated with new countertops, cabinets, flooring, and appliances.
Upstairs, hardwood floors continue through well-proportioned bedrooms, along with updated bathrooms. A full basement provides abundant storage and additional possibilities. Off-street parking is available via a detached one-car garage.
The property is located in the City of Wilmington near Brandywine Park, downtown Wilmington, restaurants and shopping, major employers, I-95, and the Wilmington Train Station—supporting convenient commuting to Philadelphia, Newark, and surrounding areas. Built in 1957, this home offers both space and day-to-day functionality for an owner occupant or investor.
Upstairs, hardwood floors continue through well-proportioned bedrooms, along with updated bathrooms. A full basement provides abundant storage and additional possibilities. Off-street parking is available via a detached one-car garage.
The property is located in the City of Wilmington near Brandywine Park, downtown Wilmington, restaurants and shopping, major employers, I-95, and the Wilmington Train Station—supporting convenient commuting to Philadelphia, Newark, and surrounding areas. Built in 1957, this home offers both space and day-to-day functionality for an owner occupant or investor.
Key Highlights
- 1,625 square feet of living space in a brick semi‑detached duplex home
- Refinished hardwood flooring in the living and dining areas
- Totally updated kitchen with new countertops, cabinets, flooring, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,230
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$344,600
$344.6K
Cap Rate 7%
$246,143
$246.1K
Cap Rate 9%
$191,444
$191.4K
Market Conditions
NOI Build-Up for 1,625 SF
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.
Gross rent
$26.3K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.6K $15.15/SF
− OpEx
−$7.4K −$4.54/SF
NOI
$17.2K $10.60/SF
Area
New Castle County, DE
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$344,600
Cap Rate 7%
$246,143
Cap Rate 9%
$191,444
Alternative Uses
Best Use
Multifamily LT 5
$246.1K
$215.4K – $287.2K
NOI $17,230 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$219.9K
$192.4K – $256.5K
NOI $15,392 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$388.7K
$340.1K – $453.5K
NOI $27,208 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick semi-detached duplex with refinished hardwoods, a fully updated kitchen, and a detached one-car garage.
Where is this duplex located?
The property is located at 2004 N BROOM STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,625 square feet of living space in a brick semi‑detached duplex home; Refinished hardwood flooring in the living and dining areas; Totally updated kitchen with new countertops, cabinets, flooring, and appliances
