Triplex with Separate
For Sale
$375,000
801 W 9TH Street, Wilmington, DE 19801
Multi-Family, WILMINGTON, DE
Property Size2,875 SF
Lot Size0.03 Acres
Price / SF$130.43
Days on Market152
Property Features for 801 W 9TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Bathroom - Tub Shower, Carpet, Dining Area, Floor Plan - Traditional
Appliances
Oven/Range - Gas, Refrigerator
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
2,875 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2260
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Number of units
3
Building materials
Brick, Stucco
Architectural style
Colonial
Listing Agency:
Pantano Real Estate Inc
(302) 888-0300
Listed By:
Joseph P Hurley III · License #RS-0018346
(302) 740-5524
Added: Apr 8
Changed: Aug 19
Last Checked: Sep 6 at 6:06AM
MLS# DENC2094808
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.
Investment Insights
Based on property information with market context.
This Colonial-style triplex is arranged as three two-bedroom apartments within a 2,875-square-foot twin corner building. The main-level residence has two private exterior entries, while the upper apartments are reached through an interior stairway and include exterior fire-escape access. The building was fully rebuilt within approximately the last 15 years, with separate mechanical systems serving each apartment.
Each unit has its own HVAC system with central air, hot water tank, electric panel, and gas meter; a separate electric panel serves the common area. Brick construction with stucco covering, a brick-paver sidewalk, and granite curbs define the exterior. The property is located in Wilmington near parks, places of worship, educational facilities, employment centers, and Market Street nightlife. On-street parking is available.
Each unit has its own HVAC system with central air, hot water tank, electric panel, and gas meter; a separate electric panel serves the common area. Brick construction with stucco covering, a brick-paver sidewalk, and granite curbs define the exterior. The property is located in Wilmington near parks, places of worship, educational facilities, employment centers, and Market Street nightlife. On-street parking is available.
Key Highlights
- Three 2‑bedroom apartments in a 2,875‑square‑foot triplex
- Fully rebuilt in the last 15 years +/-
- Three separate HVAC systems with Central Air
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
$30,483
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
8.13%
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%
$609,660
$609.7K
Cap Rate 7%
$435,471
$435.5K
Cap Rate 9%
$338,700
$338.7K
Market Conditions
NOI Build-Up for 2,875 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
$46.6K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.5K $15.15/SF
− OpEx
−$13.1K −$4.54/SF
NOI
$30.5K $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%
$609,660
Cap Rate 7%
$435,471
Cap Rate 9%
$338,700
Alternative Uses
Best Use
Multifamily LT 5
$435.5K
$381.0K – $508.1K
NOI $30,483 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$389.0K
$340.4K – $453.9K
NOI $27,232 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$687.7K
$601.7K – $802.3K
NOI $48,137 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
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?
Triplex - Corner multifamily building with three apartments, individual utilities, and central air conditioning.
Where is this triplex located?
The property is located at 801 W 9TH Street Wilmington, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three 2‑bedroom apartments in a 2,875‑square‑foot triplex; Fully rebuilt in the last 15 years +/-; Three separate HVAC systems with Central Air
