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    604 W 8TH Street Wilmington, DE 19801

    View on Map
    For Sale
    $300,000

    MULTI_FAMILY - Colonial - WILMINGTON, DE

    Property size:
    1,975 SF
    Lot size:
    0.04 Acres
    Added:
    Oct 16, 2025
    Days on Market:
    167
    Last Refresh:
    Mar 31 at 3:06 pm

    Property Features for 604 W 8TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Standard status
    Active
    Size
    1,975 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    4384

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Joseph P Hurley III

    Listing agent Joseph P Hurley III License #RS-0018346

    Listing office Pantano Real Estate Inc 1504 N Broom Street unit: 3, Wilmington, DE

    Listing date Oct 16, 2025

    MLS# DENC2091332

    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.

    Overview

    Wilmington Duplex: Urban Living Opportunity

    Located in the West Center City neighborhood of Wilmington, this duplex offers an urban lifestyle with walking distance to restaurants, proximity to highways, and access to the Riverfront. The property features two 2-bedroom units, each with 1 full bathroom. The units have been professionally gutted and rebuilt to create a modern layout. Separate systems allow tenants to control their own temperatures and energy consumption. While the building has three stories, only two are currently utilized, presenting an opportunity to increase the number of bedrooms and bathrooms on the second floor unit, potentially creating a larger income stream. The property size is 1975 square feet and the lot size is 0.04 acres. Currently, only the first-floor unit is occupied. The property is located in New Castle County. This duplex is suited to add to an existing portfolio or become the cornerstone of one. The intended use of the property is for residential income. It is also possible to purchase the adjacent property at 606 W 8th Street to control the entire structure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Law Firm Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.55473
    Latitude
    39.74543

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex in West Center City, Wilmington, ready for investment.
    Where is this duplex located?
    The property is located at 604 W 8TH Street Wilmington, DE.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Prime West Center City location: Walkable to restaurants, Riverfront, and major employers.; Income‑generating duplex: Two 2‑bedroom units, ideal for investors or owner‑occupiers.; Separate systems: Tenants control their own temperature and energy consumption.
    (302) 740-5524
    We can help!
    Listing Contact
    Joseph P Hurley III
    Real Estate License ID: RS-0018346
    Learn More
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    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
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