Income-Producing
For Sale
$339,000
1220 W 4TH STREET, Wilmington, DE 19805
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$149.01
Days on Market75
Property Features for 1220 W 4TH STREET
General Information
Standard status
Active
Size
2,275 SF
Property subtype
Triplex
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Greenville
Listed By:
Jennifer J Lee · License #RS-0023453
(302) 571-8855
Source:
Cummingsrealtors
Added: Jul 24
Changed: Oct 4
Last Checked: Oct 5 at 6:15PM
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
Estimated NOI and Cap Rate
NOI / Yr
$24,122
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,440
$482.4K
Cap Rate 7%
$344,600
$344.6K
Cap Rate 9%
$268,022
$268.0K
Market Conditions
NOI Build-Up for 2,275 SF
Gross rent
$36.9K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$34.5K $15.15/SF
− OpEx
−$10.3K −$4.54/SF
NOI
$24.1K $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%
$482,440
Cap Rate 7%
$344,600
Cap Rate 9%
$268,022
Alternative Uses
Best Use
Multifamily LT 5
$344.6K
$301.5K – $402.0K
NOI $24,122 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$307.8K
$269.4K – $359.2K
NOI $21,549 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$544.2K
$476.1K – $634.9K
NOI $38,091 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,544
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
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 $339,000.
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
