Two-Unit
For Sale
$289,900
114 N NEW ST, Dover, DE 19904
Separate one-bedroom layouts include one occupied unit and one available for lease.
Property Size1,316 SF
Price / SF$220.29
Days on Market55
Property Features for 114 N NEW ST
General Information
Standard status
Active
Size
1,316 SF
Property subtype
Multi-family
Listing Agency:
Tri-County Realty
(302) 538-5899
Listed By:
Angel L Cabazza · License #RS-0022989
(302) 252-1962
Source:
Keygroupmd
Added: Sep 6
Changed: Oct 30
Last Checked: Oct 30 at 2:12PM
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 Tri-County Realty
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Investment Insights
Based on property information with market context.
Located at 114 N New St in Dover, Delaware, this duplex contains 1,316 square feet arranged as two separate one-bedroom units. The configuration provides distinct living spaces within a single residential income property.
One unit is occupied, while the second is vacant and available for leasing. The property is situated near shopping, restaurants, schools, employment centers, major roadways, and downtown Dover, providing access to a range of everyday services and local destinations.
One unit is occupied, while the second is vacant and available for leasing. The property is situated near shopping, restaurants, schools, employment centers, major roadways, and downtown Dover, providing access to a range of everyday services and local destinations.
Key Highlights
- Two separate one‑bedroom units within a 1,316‑square‑foot duplex
- One unit is currently occupied
- Second one‑bedroom unit is vacant and available for leasing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,258
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,160
$285.2K
Cap Rate 7%
$203,686
$203.7K
Cap Rate 9%
$158,422
$158.4K
Market Conditions
NOI Build-Up for 1,316 SF
Gross rent
$21.3K $16.20/SF
− Vacancy
−$951 −$0.72/SF
EGI
$20.4K $15.48/SF
− OpEx
−$6.1K −$4.64/SF
NOI
$14.3K $10.83/SF
Area
Kent County, DE
Vacancy
4.46%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,160
Cap Rate 7%
$203,686
Cap Rate 9%
$158,422
Alternative Uses
Best Use
Multifamily LT 5
$203.7K
$178.2K – $237.6K
NOI $14,258 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$188.0K
$164.5K – $219.4K
NOI $13,161 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$331.4K
$290.0K – $386.6K
NOI $23,196 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,587
Businesses Nearby
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Business Placement
Demographics for 19904, DE
36,880
Population
16,047
Households
2.3
Avg Household Size
38
Median Age
27%
College-Educated
91%
High-School Grad
43.2 sq mi
ZIP Area
854
Density / Sq Mi
$66,885
Median Household Income
$39,459
Median Earnings
$1,240
Median Rent
$281,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate one-bedroom layouts include one occupied unit and one available for lease.
Where is this duplex located?
The property is located at 114 N NEW ST Dover, DE.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two separate one‑bedroom units within a 1,316‑square‑foot duplex; One unit is currently occupied; Second one‑bedroom unit is vacant and available for leasing
