Restored Duplex with In-Law
For Sale
$369,500
Pending
1110 W 6TH STREET, Wilmington, DE 19805
Restored brick duplex offers dual living spaces, including a lower-level in-law/guest suite with separate exterior entry.
Property Size2,190 SF
Days on Market69
Property Features for 1110 W 6TH STREET
General Information
Standard status
Pending
Size
2,190 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
front porch
deck
brick terrace
original built-ins
Building Details
Year Built
1900
Stories
4
Listing Agency:
Tesla Realty Group, LLC
(844) 837-5274
Listed By:
Kevin G A Melloy
(302) 425-4900
Source:
Cummingsrealtors
Added: Jul 21
Changed: Sep 26
Last Checked: Sep 26 at 10:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tesla Realty Group, LLC
Investment Insights
Based on property information with market context.
This restored brick duplex features four levels of finished living space with period character and updated systems throughout. The main level includes a vestibule, open floor plan, high ceilings, refinished original hardwood floors, exposed brick walls, a main level powder room, and a newly updated kitchen that opens to an expansive deck overlooking a deep backyard. Recessed LED lighting is installed throughout, and the lower level includes a separate in-law/guest suite with a new tile bath, new kitchen, and a spacious bedroom, along with an outside brick terrace. The suite also provides a design for rental income potential through a separate exterior entry.
The upper level provides a primary bedroom, a large tile bath, laundry, and restored built-ins, while the top level includes two additional bedrooms.
The property is not zoned as a multi-unit apartment building; it is described as a single duplex with an in-law suite and both interior access and a separate exterior entrance.
The upper level provides a primary bedroom, a large tile bath, laundry, and restored built-ins, while the top level includes two additional bedrooms.
The property is not zoned as a multi-unit apartment building; it is described as a single duplex with an in-law suite and both interior access and a separate exterior entrance.
Key Highlights
- Restored 1900‑built luxury brick twin duplex with dual living spaces
- Main level open floor plan with refinished original hardwood floors, exposed brick walls, and period high ceilings
- New kitchen with cabinetry, new stainless steel appliances, granite countertops, and tile backsplash
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
$23,220
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
6.28%
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%
$464,400
$464.4K
Cap Rate 7%
$331,714
$331.7K
Cap Rate 9%
$258,000
$258.0K
Market Conditions
NOI Build-Up for 2,190 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
$35.5K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.2K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.2K $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%
$464,400
Cap Rate 7%
$331,714
Cap Rate 9%
$258,000
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.3K – $387.0K
NOI $23,220 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$296.3K
$259.3K – $345.7K
NOI $20,744 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$523.8K
$458.4K – $611.1K
NOI $36,668 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,544
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Restored brick duplex offers dual living spaces, including a lower-level in-law/guest suite with separate exterior entry.
Where is this duplex located?
The property is located at 1110 W 6TH STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: Restored 1900‑built luxury brick twin duplex with dual living spaces; Main level open floor plan with refinished original hardwood floors, exposed brick walls, and period high ceilings; New kitchen with cabinetry, new stainless steel appliances, granite countertops, and tile backsplash
