Income Triplex with Updated
1220 W 4TH STREET Wilmington, DE 19805
New
For Sale
$359,900
MULTI_FAMILY - WILMINGTON, DE
Property Size2,275 SF
Price / SF$158.20
Days on Market4
Property Features for 1220 W 4TH STREET
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 2,275 SF
Building Details
- Year built
- 1900
Listing Agency:
BHHS Fox & Roach Greenville Home Marketing Center
(302) 571-8855
Listed By:
Jen Lee
(302) 540-7147
Added: Jul 21
Changed: Jul 23
Last Checked: Jul 24 at 4:06AM
MLS# DENC2105976
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1220 W 4th Street in Wilmington, DE 19805, this income-producing triplex offers three separate apartments with an easy-to-understand unit mix. The first-floor unit is a 1-bedroom, 1-bath apartment currently rented for $1,050/month. The second-floor unit is a 2-bedroom, 1-bath apartment with a new renter beginning August 1 at $1,100/month. The third-floor unit is a 2-bedroom, 1-bath apartment currently vacant, previously rented for $1,200/month.
Significant updates include a new roof completed in December 2025, along with a new boiler and updated electrical and flooring completed in February 2025. The property is positioned just minutes from Amtrak, I-95, downtown Wilmington, and nearby shopping and restaurants, supporting convenient access for tenants and visitors.
Significant updates include a new roof completed in December 2025, along with a new boiler and updated electrical and flooring completed in February 2025. The property is positioned just minutes from Amtrak, I-95, downtown Wilmington, and nearby shopping and restaurants, supporting convenient access for tenants and visitors.
Key Highlights
- Triplex built in 1900 with three separate units in Wilmington
- 1st‑floor 1 bed/1 bath currently rented for $1,050/month
- 2nd‑floor 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
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit triplex with recent roof, boiler, electrical, and flooring updates, including two occupied 2-bedroom units.
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: Triplex built in 1900 with three separate units in Wilmington; 1st‑floor 1 bed/1 bath currently rented for $1,050/month; 2nd‑floor 2 bed/1 bath with new renter starting August 1 at $1,100/month
