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    137 Madison Dr Newark, DE 19711

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    For Sale
    $244,900

    Four-bedroom townhouse near University of Delaware with rental potential.

    Lot size:
    0.06 Acres

    Property Features for 137 Madison Dr

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    1959

    Source: RE/MAX Associates-Wilmington Agent Michael DiFonzo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newark Townhouse with Rental Certificate

    This two-story end unit townhouse is located in Newark, offering immediate possession. The property features new wall-to-wall carpet, upgraded windows, and fresh paint. The basement includes a utility area and a fourth bedroom. The front outside area includes two refurbished decks. The fourth, rear street-level bedroom can be reconverted to a one-car garage. The property is located close to the University of Delaware, major roads, restaurants, and malls. The roof was replaced in 2017, and the heater and central air were replaced in 2020. The owner possesses a rental certificate for this property, listed as a legal four-bedroom rental property through the City of Newark. A new owner can reapply for this certificate if they intend to use the home as a rental property for University of Delaware students or others. This property is suitable for a first-time buyer or an investor. A one-year warranty is included for the buyer.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7681916
    Latitude
    39.6772612

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    FAQs

    What type of property is this?
    Quadplex - Four-bedroom townhouse near University of Delaware with rental potential.
    Where is this quadplex located?
    The property is located at 137 Madison Dr Newark, DE.
    What is the asking price?
    The asking price for this property is $244,900.
    What are key features of this property?
    This property features: - Legal 4-bedroom rental property with existing rental certificate from the City of Newark, ideal for investors.; - Immediate possession possible, allowing for quick move-in.; - Recently replaced roof (2017) and heater/central air (2020) reducing potential maintenance costs.
    (302) 764-0100
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    Newark, DE 19711
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    137 Madison Dr Newark, DE 19711
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