Renovated Two-Unit
For Sale
$395,000
10 E CHURCH Street, Selbyville, DE 19975
Multi-Family, SELBYVILLE, DE
Property Size1,054 SF
Lot Size0.14 Acres
Price / SF$374.76
Days on Market93
Property Features for 10 E CHURCH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room
Parking
8
Parking features
Garage - Detached, Driveway, Off Street
Interior features
Attic, Combination Kitchen/Dining, Combination Kitchen/Living, Window Treatments
Appliances
Dishwasher, Dryer - Electric, Microwave, Oven/Range - Electric, Refrigerator, Washer, WaterHeater
Elementary school
PHILLIP C. SHOWELL
Middle school
SELBYVILLE
High school
SUSSEX CENTRAL
Elementary school district
INDIAN RIVER
Middle school district
INDIAN RIVER
High school district
INDIAN RIVER
Standard status
Active
Size
1,054 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
598
Building Details
Year built
1904
Number of units
2
Building materials
Frame, Stick Built, Vinyl Siding
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(410) 524-7000
Listed By:
Alexander Piela · License #RS-0025714
(410) 289-2539
Added: Jun 8
Changed: Aug 24
Last Checked: Sep 8 at 4:06PM
MLS# DESU2113690
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 two-unit duplex contains 1,054 square feet of residential space on a 0.14-acre parcel. The unit mix includes one three-bedroom, 1.5-bath residence and one two-bedroom, 1.5-bath residence, with combination kitchen and dining or living areas. Interior features include attic storage and window treatments, while the property also includes a detached garage, driveway, and off-street parking.
Originally built in 1904, the building received a substantial renovation in 1993 that included plumbing, electrical systems, drywall, windows, and the roof. Construction is frame with vinyl siding. Each residence includes a refrigerator, electric range, microwave, dishwasher, washer, dryer, and water heater. The property is located at 10 E Church Street in Selbyville, Delaware, within Sussex County and postal code 19975.
Originally built in 1904, the building received a substantial renovation in 1993 that included plumbing, electrical systems, drywall, windows, and the roof. Construction is frame with vinyl siding. Each residence includes a refrigerator, electric range, microwave, dishwasher, washer, dryer, and water heater. The property is located at 10 E Church Street in Selbyville, Delaware, within Sussex County and postal code 19975.
Key Highlights
- Two‑unit duplex with one 3‑bedroom and one 2‑bedroom residence
- 1,054 square feet on a 0.14‑acre parcel
- Both units feature 1.5 bathrooms
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
$11,175
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
2.83%
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%
$223,500
$223.5K
Cap Rate 7%
$159,643
$159.6K
Cap Rate 9%
$124,167
$124.2K
Market Conditions
NOI Build-Up for 1,054 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
$17.1K $16.20/SF
− Vacancy
−$1.1K −$1.05/SF
EGI
$16.0K $15.15/SF
− OpEx
−$4.8K −$4.54/SF
NOI
$11.2K $10.60/SF
Area
Sussex 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%
$223,500
Cap Rate 7%
$159,643
Cap Rate 9%
$124,167
Alternative Uses
Best Use
Multifamily LT 5
$159.6K
$139.7K – $186.3K
NOI $11,175 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$147.9K
$129.4K – $172.6K
NOI $10,354 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$289.6K
$253.4K – $337.9K
NOI $20,275 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 19975, DE
10,476
Population
8,890
Households
1.2
Avg Household Size
60
Median Age
39%
College-Educated
94%
High-School Grad
25.5 sq mi
ZIP Area
411
Density / Sq Mi
$86,063
Median Household Income
$41,090
Median Earnings
$1,098
Median Rent
$430,000
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?
Duplex - Two rental residences with distinct bedroom counts, functional living areas, and detached garage parking.
Where is this duplex located?
The property is located at 10 E CHURCH Street Selbyville, DE.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex with one 3‑bedroom and one 2‑bedroom residence; 1,054 square feet on a 0.14‑acre parcel; Both units feature 1.5 bathrooms
