Duplex with Two Residential
For Sale
Contact for pricing
1226 NEW ST, Wilmington, DE 19808
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 Market126
Property Features for 1226 NEW ST
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multifamily
Zoning
NC5
Additional Details
Multifamily Units
1
Building Details
Year Built
1910
Buildings
2
Stories
2
Units
2
Listing Agency:
Location Realty Advisors LLC
Listed By:
Chris Castagno · License #DE RB -0020139
Source:
Crexi
Added: Jun 2
Changed: Oct 4
Last Checked: Oct 4 at 8:20AM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,809
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,180
$636.2K
Cap Rate 7%
$454,414
$454.4K
Cap Rate 9%
$353,433
$353.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$48.6K $16.20/SF
− Vacancy
−$3.2K −$1.05/SF
EGI
$45.4K $15.15/SF
− OpEx
−$13.6K −$4.54/SF
NOI
$31.8K $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%
$636,180
Cap Rate 7%
$454,414
Cap Rate 9%
$353,433
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
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Business Placement
Demographics for 19808, DE
39,285
Population
16,037
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,847
Density / Sq Mi
$92,883
Median Household Income
$53,084
Median Earnings
$1,357
Median Rent
$309,700
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?
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
