Renovated Brick
New
For Sale
$325,000
620 CONCORD AVENUE, Wilmington, DE 19802
SINGLE_FAMILY - WILMINGTON, DE
Property Size1,550 SF
Price / SF$209.68
Days on Market5
Property Features for 620 CONCORD AVENUE
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Subdivision
CONCORD HEIGHTS
Standard status
Active
Size
1,550 SF
Building Details
Year built
1920
Listing Agency:
BHHS Fox & Roach Hockessin-Pike Creek Home Marketing · Berkshire Hathaway HomeServices
(302) 999-9999
Listed By:
Kathryn Pizzini
(302) 218-9439
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 11 at 10:06PM
MLS# DENC2108502
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 1,550-square-foot duplex, built in 1920, combines historic brick character with extensive recent improvements. The property includes four bedrooms and two bathrooms, along with a new kitchen featuring stainless steel appliances, quartz countertops, and laminate flooring throughout. Fresh interior paint, new central air, a new HVAC system, and replaced plumbing further update the building. French doors connect the dining area to a new deck, while the repaired and painted second-floor balcony adds additional outdoor space.
The property is located at 620 Concord Avenue in Wilmington, Delaware, within a short walk of a public park, restaurants, a coffee shop and cafe, a community market, and Pizzeria Metro. The 19802 property is also near Wilmington’s Triangle area.
The property is located at 620 Concord Avenue in Wilmington, Delaware, within a short walk of a public park, restaurants, a coffee shop and cafe, a community market, and Pizzeria Metro. The 19802 property is also near Wilmington’s Triangle area.
Key Highlights
- 1,550‑square‑foot duplex built in 1920
- Four bedrooms and two bathrooms
- New kitchen with stainless steel appliances and quartz countertops
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
$16,434
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
5.06%
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%
$328,680
$328.7K
Cap Rate 7%
$234,771
$234.8K
Cap Rate 9%
$182,600
$182.6K
Market Conditions
NOI Build-Up for 1,550 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
$25.1K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$23.5K $15.15/SF
− OpEx
−$7.0K −$4.54/SF
NOI
$16.4K $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%
$328,680
Cap Rate 7%
$234,771
Cap Rate 9%
$182,600
Alternative Uses
Best Use
Multifamily LT 5
$234.8K
$205.4K – $273.9K
NOI $16,434 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$209.7K
$183.5K – $244.7K
NOI $14,681 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$370.7K
$324.4K – $432.5K
NOI $25,952 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,563
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 - Updated kitchen, replaced plumbing, central air, and outdoor areas support practical residential use.
Where is this duplex located?
The property is located at 620 CONCORD AVENUE Wilmington, DE.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,550‑square‑foot duplex built in 1920; Four bedrooms and two bathrooms; New kitchen with stainless steel appliances and quartz countertops
