Three-Unit
New
For Sale
$439,900
902 N MADISON ST, Wilmington, DE 19801
Each residence contains two bedrooms and two full bathrooms.
Property Size4,250 SF
Price / SF$103.51
Days on Market2
Property Features for 902 N MADISON ST
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
Jazmin Lynn Montalvo · License #RS0036466
(302) 256-1215
Source:
Lakehomesbyliz
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:46AM
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 Keller Williams Realty Wilmington
Investment Insights
Based on property information with market context.
This triplex contains three residences, each configured with two bedrooms and two full bathrooms. All three units are occupied by long-term tenants under month-to-month leases.
The property is in Wilmington, with Trolley Square, Market Street, Wilmington Train Station, shopping, dining, public transportation, and major highways described as nearby.
The property is in Wilmington, with Trolley Square, Market Street, Wilmington Train Station, shopping, dining, public transportation, and major highways described as nearby.
Key Highlights
- Three residential units
- Each unit has 2 bedrooms and 2 full bathrooms
- All units are occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,256
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,120
$805.1K
Cap Rate 7%
$575,086
$575.1K
Cap Rate 9%
$447,289
$447.3K
Market Conditions
NOI Build-Up for 4,250 SF
Gross rent
$78.0K $18.36/SF
− Vacancy
−$4.8K −$1.14/SF
EGI
$73.2K $17.22/SF
− OpEx
−$32.9K −$7.75/SF
NOI
$40.3K $9.47/SF
Area
New Castle County, DE
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,120
Cap Rate 7%
$575,086
Cap Rate 9%
$447,289
Alternative Uses
Best Use
Multifamily LT 5
$643.7K
$563.3K – $751.0K
NOI $45,062 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$575.1K
$503.2K – $670.9K
NOI $40,256 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.02M
$889.5K – $1.19M
NOI $71,159 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence contains two bedrooms and two full bathrooms.
Where is this triplex located?
The property is located at 902 N MADISON ST Wilmington, DE.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Three residential units; Each unit has 2 bedrooms and 2 full bathrooms; All units are occupied by long‑term tenants
