Duplex with Two Residential
1226 NEW ST Wilmington, DE 19808
1226 NEW ST, Wilmington, DE, 19808
Contact for pricing
For Sale
Contact for pricing
Two-unit residential income property with a vacant 3-bedroom home and a 2-bedroom unit over a 2-car garage.
Property Size3,000 SF
Price / SF$183.33
Days on Market52
Property Features for 1226 NEW ST
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing agency
Location Realty Advisors LLC
Listed by
Chris Castagno · License #DE RB -0020139
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 7:34AM
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 Location Realty Advisors LLC
Investment Insights
Based on property information with market context.
This duplex includes two residential units: a 3-bedroom, 2-bath home that is currently vacant, and a 2-bedroom, 1-bath apartment positioned over a 2-car garage. The property sits on a large lot with a backyard, providing outdoor space for day-to-day living.
Lot frontage is listed at 62.70 feet, with depth of 332.80 feet. The seller notes annual property and school taxes of $4,058.
For buyers seeking a residential income setup, this configuration offers two separate unit options within one property. The currently vacant 3-bedroom unit may allow for more straightforward occupancy planning, leasing timelines, or personal use depending on the buyer’s strategy, while the second unit remains a built-in income component. The combination of the over-garage layout and generous lot dimensions can support tenant-focused functionality and practical everyday access to the attached garage space.
Lot frontage is listed at 62.70 feet, with depth of 332.80 feet. The seller notes annual property and school taxes of $4,058.
For buyers seeking a residential income setup, this configuration offers two separate unit options within one property. The currently vacant 3-bedroom unit may allow for more straightforward occupancy planning, leasing timelines, or personal use depending on the buyer’s strategy, while the second unit remains a built-in income component. The combination of the over-garage layout and generous lot dimensions can support tenant-focused functionality and practical everyday access to the attached garage space.
Key Highlights
- Two‑unit residential income property with a vacant 3‑bedroom, 2‑bath home and a 2‑bedroom, 1‑bath unit
- 2‑car garage with a 2BR unit located over the garage
- Built in 1910
Local 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 | $48.6k | $16.20 |
| − Vacancy | −$3.2k | −$1.05 |
| EGI | $45.4k | $15.15 |
| − OpEx | −$13.6k | −$4.54 |
| NOI | $31.8k | $10.60 |
3,000 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.4K
$397.6K – $530.2K
NOI $31,809 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$405.9K
$355.2K – $473.6K
NOI $28,416 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$717.6K
$627.9K – $837.2K
NOI $50,230 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit residential income property with a vacant 3-bedroom home and a 2-bedroom unit over a 2-car garage.
Where is this duplex located?
The property is located at 1226 NEW ST Wilmington, DE.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit residential income property with a vacant 3‑bedroom, 2‑bath home and a 2‑bedroom, 1‑bath unit; 2‑car garage with a 2BR unit located over the garage; Built in 1910
