Two-Unit Duplex with Separate
For Sale
$950,000
1001 & 1003 W 8th St. W 8TH Street, Wilmington, DE 19806
MULTI_FAMILY - Colonial - WILMINGTON, DE
Property Size4,350 SF
Lot Size0.11 Acres
Price / SF$218.39
Days on Market117
Property Features for 1001 & 1003 W 8th St. W 8TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
4
Parking features
On Street, Driveway
Elementary school district
RED CLAY CONSOLIDATED
Middle school district
RED CLAY CONSOLIDATED
High school district
RED CLAY CONSOLIDATED
Standard status
Active
Size
4,350 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
8065
Utilities
Heating system
Electric (Heating), Forced Air, Baseboard, Hot Water(Heating), Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1889
Number of units
2
Building materials
Brick
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 18
Changed: Jul 30
Last Checked: Aug 12 at 3:06AM
MLS# DENC2099036
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 apartment building is a twin structure with separate entrances for each unit, plus a common access basement. The building is brick construction and features heating and cooling systems that are separated by unit, supporting straightforward day-to-day operations.
Each unit is laid out differently: unit 1001 includes four bedrooms, while unit 1003 includes five bedrooms. Parking is provided via a small amount of off-street parking together with on-street parking and a driveway.
Built in 1889, the property offers a compact footprint on a 0.1133-acre lot, and is positioned on the west side of Wilmington with proximity to highways and nearby destinations including Trolley Square, Union Street, and downtown’s Central Business district. It is ready for its next operator.
Each unit is laid out differently: unit 1001 includes four bedrooms, while unit 1003 includes five bedrooms. Parking is provided via a small amount of off-street parking together with on-street parking and a driveway.
Built in 1889, the property offers a compact footprint on a 0.1133-acre lot, and is positioned on the west side of Wilmington with proximity to highways and nearby destinations including Trolley Square, Union Street, and downtown’s Central Business district. It is ready for its next operator.
Key Highlights
- Two‑unit twin structure with separate entrances
- Common access basement
- Unit 1001 offers four bedrooms; unit 1003 offers five bedrooms
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
$46,123
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
4.86%
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%
$922,460
$922.5K
Cap Rate 7%
$658,900
$658.9K
Cap Rate 9%
$512,478
$512.5K
Market Conditions
NOI Build-Up for 4,350 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
$70.5K $16.20/SF
− Vacancy
−$4.6K −$1.05/SF
EGI
$65.9K $15.15/SF
− OpEx
−$19.8K −$4.54/SF
NOI
$46.1K $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%
$922,460
Cap Rate 7%
$658,900
Cap Rate 9%
$512,478
Alternative Uses
Best Use
Multifamily LT 5
$658.9K
$576.5K – $768.7K
NOI $46,123 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,203 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.04M
$910.4K – $1.21M
NOI $72,834 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 19806, DE
10,083
Population
6,638
Households
1.5
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
1.7 sq mi
ZIP Area
5,931
Density / Sq Mi
$86,240
Median Household Income
$76,246
Median Earnings
$1,329
Median Rent
$370,500
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 - Two-unit duplex in brick Colonial style with separate entrances and a common access basement.
Where is this duplex located?
The property is located at 1001 & 1003 W 8th St. W 8TH Street Wilmington, DE.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑unit twin structure with separate entrances; Common access basement; Unit 1001 offers four bedrooms; unit 1003 offers five bedrooms
