Income-Producing
1220 W 4TH STREET Wilmington, DE 19805
New
For Sale
$359,900
Three-unit triplex with one 1-bedroom and two 2-bedroom apartments, including recent roof, boiler, and electrical updates.
Property Size2,275 SF
Price / SF$158.20
Days on Market3
Property Features for 1220 W 4TH STREET
General Information
- Standard status
- Active
- Size
- 2,275 SF
- Property subtype
- Triplex
Building Details
- Year Built
- 1900
Listing Agency:
BHHS Fox & Roach-Greenville
(302) 571-8855
Listed By:
Jennifer J Lee · License #RS-0023453
(302) 571-8855
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 25
Last Checked: Jul 25 at 12:35PM
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 BHHS Fox & Roach-Greenville
Investment Insights
Based on property information with market context.
This income-producing triplex features three separate apartments: a first-floor 1-bedroom, 1-bath unit currently rented; a second-floor 2-bedroom, 1-bath unit with a new renter scheduled to begin August 1; and a third-floor 2-bedroom, 1-bath unit that is currently vacant but was previously rented. Recent improvements include a new roof completed December 2025, along with a new boiler and updated electrical and flooring completed February 2025.
The property is located in the City of Wilmington, just minutes from Amtrak, I-95, downtown Wilmington, and nearby shopping and restaurants.
The property is located in the City of Wilmington, just minutes from Amtrak, I-95, downtown Wilmington, and nearby shopping and restaurants.
Key Highlights
- Three‑unit triplex built in 1900 with one 1‑bed/1‑bath and two 2‑bed/1‑bath apartments
- First‑floor unit: 1 bed/1 bath currently rented for $1,050/month
- Second‑floor unit: 2 bed/1 bath with new renter starting August 1 at $1,100/month
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.9k | $16.20 |
| − Vacancy | −$2.4k | −$1.05 |
| EGI | $34.5k | $15.15 |
| − OpEx | −$10.3k | −$4.54 |
| NOI | $24.1k | $10.60 |
2,275 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$344.6K
$301.5K – $402.0K
NOI $24,122 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$307.8K
$269.4K – $359.2K
NOI $21,549 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$544.2K
$476.1K – $634.9K
NOI $38,091 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit triplex with one 1-bedroom and two 2-bedroom apartments, including recent roof, boiler, and electrical updates.
Where is this triplex located?
The property is located at 1220 W 4TH STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Three‑unit triplex built in 1900 with one 1‑bed/1‑bath and two 2‑bed/1‑bath apartments; First‑floor unit: 1 bed/1 bath currently rented for $1,050/month; Second‑floor unit: 2 bed/1 bath with new renter starting August 1 at $1,100/month
