Duplex with Detached
For Sale
$375,000
133 W South St, Smyrna, DE 19977
Two three-bedroom units include private entrances, a fenced yard, and a walk-up attic in the upper residence.
Property Size2,544 SF
Price / SF$147.41
Days on Market12
Property Features for 133 W South St
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,169
Listing Agency:
Crown Homes Real Estate
(302) 824-3246
Listed By:
John N Lyons · License #RB-0031289
(302) 824-3246
Source:
Exprealty
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 8 at 8:41AM
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 Crown Homes Real Estate
Investment Insights
Based on property information with market context.
This duplex at 133 W South St in Smyrna, DE contains 2,544 square feet across two three-bedroom, one-bath units. Each residence has its own private entrance, while the upper unit adds a walk-up attic. Exterior features include a fenced backyard, wraparound front porch, and detached garage with flexible storage or workshop utility.
Both heaters and the water heater were replaced in 2019, and the roof was installed in 2023. The first-floor unit is leased through March 2027 with rent paid in full. The second unit provides a separate residence within the same two-unit property.
Both heaters and the water heater were replaced in 2019, and the roof was installed in 2023. The first-floor unit is leased through March 2027 with rent paid in full. The second unit provides a separate residence within the same two-unit property.
Key Highlights
- 2,544‑square‑foot duplex with two 3‑bedroom, 1‑bath units
- Each unit has a private entrance
- Upper unit includes a walk‑up attic
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
$27,562
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
7.35%
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%
$551,240
$551.2K
Cap Rate 7%
$393,743
$393.7K
Cap Rate 9%
$306,244
$306.2K
Market Conditions
NOI Build-Up for 2,544 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
$41.2K $16.20/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$39.4K $15.48/SF
− OpEx
−$11.8K −$4.64/SF
NOI
$27.6K $10.83/SF
Area
Kent County, DE
Vacancy
4.46%
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%
$551,240
Cap Rate 7%
$393,743
Cap Rate 9%
$306,244
Alternative Uses
Best Use
Multifamily LT 5
$393.7K
$344.5K – $459.4K
NOI $27,562 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$363.5K
$318.0K – $424.0K
NOI $25,442 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$640.6K
$560.5K – $747.4K
NOI $44,841 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 19977, DE
27,505
Population
9,899
Households
2.8
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
83.1 sq mi
ZIP Area
331
Density / Sq Mi
$78,803
Median Household Income
$48,246
Median Earnings
$1,366
Median Rent
$311,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units include private entrances, a fenced yard, and a walk-up attic in the upper residence.
Where is this duplex located?
The property is located at 133 W South St Smyrna, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,544‑square‑foot duplex with two 3‑bedroom, 1‑bath units; Each unit has a private entrance; Upper unit includes a walk‑up attic
