Multifamily Property with Soaking
For Sale
$249,500
1112 S RODNEY STREET, Wilmington, DE 19805
Residential income property with full bathroom, gas appliances, and on-street parking.
Property Size2,040 SF
Price / SF$183.46
Days on Market9
Property Features for 1112 S RODNEY STREET
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Residential Income
Zoning
26R-2
Taxes and HOA fees
Annual Taxes
$529
Amenities
Sidewalks, Street Lights
Playground
Electric, Natural Gas, Forced Air, Baseboard
Full
Gas Range, Gas Oven, Gas Water Heater, Range Hood
Soaking Tub
On Street
Other
Building Details
Building Size
2,040 SF
Year Built
1940
Stories
2
Listing Agency:
(302) 477-5500
Listed By:
Bruno Caputo
(302) 477-5500
Source:
Evrealestate
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 7 at 2:13AM
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 Bruno Caputo
Investment Insights
Based on property information with market context.
This multifamily property, built in 1940, offers 1,360 square feet of residential space. Interior features include a full bathroom with a soaking tub, along with a gas range, gas oven, gas water heater, and range hood. Heating is provided through electric, natural gas, forced air, and baseboard systems.
The property is zoned 26R-2 and includes on-street parking. Located in Wilmington, Delaware, the asset is identified as a residential income property within New Castle County.
The property is zoned 26R-2 and includes on-street parking. Located in Wilmington, Delaware, the asset is identified as a residential income property within New Castle County.
Key Highlights
- 1,360 SF multifamily property built in 1940
- Zoned 26R‑2
- Full bathroom with soaking tub
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
$12,882
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
5.16%
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%
$257,640
$257.6K
Cap Rate 7%
$184,029
$184.0K
Cap Rate 9%
$143,133
$143.1K
Market Conditions
NOI Build-Up for 1,360 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
$25.0K $18.36/SF
− Vacancy
−$1.5K −$1.14/SF
EGI
$23.4K $17.22/SF
− OpEx
−$10.5K −$7.75/SF
NOI
$12.9K $9.47/SF
Area
New Castle County, DE
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$257,640
Cap Rate 7%
$184,029
Cap Rate 9%
$143,133
Alternative Uses
Best Use
Apartment 5plus
$184.0K
$161.0K – $214.7K
NOI $12,882 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.3K
$284.6K – $379.5K
NOI $22,771 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,117
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property with full bathroom, gas appliances, and on-street parking.
Where is this multifamily property located?
The property is located at 1112 S RODNEY STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: 1,360 SF multifamily property built in 1940; Zoned 26R‑2; Full bathroom with soaking tub
