Furnished Renovated
For Sale
$599,900
Pending
1220 N King St, Wilmington, DE 19801
Two residences share a renovated three-story layout with separate building systems and private off-street parking.
Property Size2,400 SF
Days on Market52
Property Features for 1220 N King St
General Information
Standard status
Pending
Size
2,400 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
heated floors
steam shower
rainfall shower panels
stainless appliances
washer/dryer sets
Nest thermostats
TVs
audio
wine cellar
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Tesla Realty Group, LLC
Listed By:
Clarissa Howard · License #3140696
(302) 213-4162
Source:
Findahomewithus
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 30 at 2:56PM
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
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Investment Insights
Based on property information with market context.
This renovated duplex at 1220 N King Street includes two complete residences within a three-story home spanning about 2,400 square feet, along with a full basement and wine cellar. Each residence has its own HVAC, water service, and electrical panel, while an interior door connects the units. The ground-level residence has a private entrance, full kitchen, bathroom, and laundry. Across the property are three bedrooms, three luxury baths, heated floors in two bathrooms, a steam shower, and rainfall shower panels. Both kitchens feature stainless appliances, and the sale includes two washer/dryer sets, Nest thermostats, room TVs, housewares, and furnishings.
The double-wide lot provides four marked off-street parking spaces. The property is adjacent to Midtown Brandywine and blocks from Rodney Square, Brandywine Park, Chancery Market, and Hotel du Pont. It previously operated as a short-term rental and accumulated more than 650 reviews with an average rating of 4.9 stars across its listings.
The double-wide lot provides four marked off-street parking spaces. The property is adjacent to Midtown Brandywine and blocks from Rodney Square, Brandywine Park, Chancery Market, and Hotel du Pont. It previously operated as a short-term rental and accumulated more than 650 reviews with an average rating of 4.9 stars across its listings.
Key Highlights
- Two complete residences with separate HVAC, water service, and electrical panels
- About 2,400 square feet across three stories plus a full basement with wine cellar
- Three bedrooms and three luxury baths, including heated floors in two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,447
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,940
$508.9K
Cap Rate 7%
$363,529
$363.5K
Cap Rate 9%
$282,744
$282.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$38.9K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$36.4K $15.15/SF
− OpEx
−$10.9K −$4.54/SF
NOI
$25.4K $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 Rate 5%
$508,940
Cap Rate 7%
$363,529
Cap Rate 9%
$282,744
Alternative Uses
Best Use
Multifamily LT 5
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$324.8K
$284.2K – $378.9K
NOI $22,733 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$574.1K
$502.3K – $669.7K
NOI $40,184 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,510
Businesses Nearby
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Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences share a renovated three-story layout with separate building systems and private off-street parking.
Where is this duplex located?
The property is located at 1220 N King St Wilmington, DE.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two complete residences with separate HVAC, water service, and electrical panels; About 2,400 square feet across three stories plus a full basement with wine cellar; Three bedrooms and three luxury baths, including heated floors in two bathrooms
