For Sale
$255,000
Pending
2301 N MONROE STREET, Wilmington, DE 19802
SINGLE_FAMILY - WILMINGTON, DE
Property Size1,525 SF
Days on Market18
Property Features for 2301 N MONROE STREET
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2
Subdivision
WILM #04
Standard status
Pending
Size
1,525 SF
Amenities
built-in brick grill
back porch
private balcony
window air conditioning units
ceiling fans
Building Details
Year built
1920
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 23
Changed: Aug 3
Last Checked: Aug 9 at 11:06PM
MLS# DENC2107666
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.
This duplex offering features a classic brick exterior and a four-bedroom layout with one and a half baths. Original hardwood floors are located beneath the existing carpet, providing an opportunity to restore the home’s historic character. Comfort and airflow are supported by four window A/C units and five ceiling fans.
The finished walk-out basement includes a convenient half bath and offers flexible space for recreation, a home office, workshop, fitness area, hobby space, or additional storage. Outdoor living centers on an oversized backyard with a built-in brick grill, plus a back porch and a private balcony off one of the secondary bedrooms overlooking the yard.
Built in 1920, the home was also updated with a brand-new water heater installed in 2026. Conveniently positioned just minutes from downtown Wilmington, it provides access to local restaurants, shopping, entertainment, and major commuter routes including I-95.
The finished walk-out basement includes a convenient half bath and offers flexible space for recreation, a home office, workshop, fitness area, hobby space, or additional storage. Outdoor living centers on an oversized backyard with a built-in brick grill, plus a back porch and a private balcony off one of the secondary bedrooms overlooking the yard.
Built in 1920, the home was also updated with a brand-new water heater installed in 2026. Conveniently positioned just minutes from downtown Wilmington, it provides access to local restaurants, shopping, entertainment, and major commuter routes including I-95.
Key Highlights
- Four bedrooms and one and a half baths
- Original hardwood floors beneath existing carpet
- Finished walk‑out basement with half bath
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
$16,169
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
6.34%
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%
$323,380
$323.4K
Cap Rate 7%
$230,986
$231.0K
Cap Rate 9%
$179,656
$179.7K
Market Conditions
NOI Build-Up for 1,525 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
$24.7K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$23.1K $15.15/SF
− OpEx
−$6.9K −$4.54/SF
NOI
$16.2K $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%
$323,380
Cap Rate 7%
$230,986
Cap Rate 9%
$179,656
Alternative Uses
Best Use
Multifamily LT 5
$231.0K
$202.1K – $269.5K
NOI $16,169 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$206.4K
$180.6K – $240.8K
NOI $14,445 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$364.8K
$319.2K – $425.6K
NOI $25,534 @ 7.0% cap · market cap 10.01%
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
1,012
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brick residence with four bedrooms, a finished walk-out basement, and an oversized backyard with built-in brick grill.
Where is this duplex located?
The property is located at 2301 N MONROE STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Four bedrooms and one and a half baths; Original hardwood floors beneath existing carpet; Finished walk‑out basement with half bath
