Updated Duplex with Separate
New
For Sale
$499,900
125 EMERY COURT, Newark, DE 19711
The upper residence is vacant, while the lower residence is leased on a month-to-month basis.
Property Size3,300 SF
Price / SF$151.48
Days on Market4
Property Features for 125 EMERY COURT
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
deck
walkout basement
storage room
Building Details
Year Built
1987
Buildings
1
Listing Agency:
Patterson-Schwartz-Hockessin
(302) 740-0966
Listed By:
Holly A Patrick · License #R3-011502
(302) 740-0966
Source:
Cummingsrealtors
Added: Aug 9
Changed: Aug 12
Last Checked: Aug 12 at 3:23AM
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 Patterson-Schwartz-Hockessin
Investment Insights
Based on property information with market context.
Built in 1987, this duplex includes two separate residences with individual utility systems and laundry areas. The upper unit has undergone a complete update within the last few years and is currently vacant. The lower unit has received cosmetic improvements, including carpet, paint, and bathroom work.
A walkout basement adds two egress bedrooms, a full bath, an office, access to the lower-level laundry area, and a large storage room suitable for equipment, bicycles, seasonal items, or workshop use. Both units have decks extending from the living room and main bedroom, with wooded views across the Pike Creek Valley. The lower unit is occupied under a month-to-month tenancy.
A walkout basement adds two egress bedrooms, a full bath, an office, access to the lower-level laundry area, and a large storage room suitable for equipment, bicycles, seasonal items, or workshop use. Both units have decks extending from the living room and main bedroom, with wooded views across the Pike Creek Valley. The lower unit is occupied under a month-to-month tenancy.
Key Highlights
- Upper unit completely updated within the last few years and currently vacant
- Two‑unit property built in 1987 with individual systems and laundry for each unit
- Walkout basement includes 2 egress bedrooms, full bath, office, and large storage room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,990
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,800
$699.8K
Cap Rate 7%
$499,857
$499.9K
Cap Rate 9%
$388,778
$388.8K
Market Conditions
NOI Build-Up for 3,300 SF
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.
Gross rent
$53.5K $16.20/SF
− Vacancy
−$3.5K −$1.05/SF
EGI
$50.0K $15.15/SF
− OpEx
−$15.0K −$4.54/SF
NOI
$35.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$699,800
Cap Rate 7%
$499,857
Cap Rate 9%
$388,778
Alternative Uses
Best Use
Multifamily LT 5
$499.9K
$437.4K – $583.2K
NOI $34,990 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$446.5K
$390.7K – $521.0K
NOI $31,257 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$789.3K
$690.7K – $920.9K
NOI $55,253 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 19711, DE
48,477
Population
20,617
Households
2.4
Avg Household Size
37
Median Age
53%
College-Educated
95%
High-School Grad
27.4 sq mi
ZIP Area
1,769
Density / Sq Mi
$94,455
Median Household Income
$43,790
Median Earnings
$1,516
Median Rent
$376,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The upper residence is vacant, while the lower residence is leased on a month-to-month basis.
Where is this duplex located?
The property is located at 125 EMERY COURT Newark, DE.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Upper unit completely updated within the last few years and currently vacant; Two‑unit property built in 1987 with individual systems and laundry for each unit; Walkout basement includes 2 egress bedrooms, full bath, office, and large storage room
