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    Brick Duplex with Two Separately Metered Units Title is generated by Realmo AI

    1400 SAINT ELIZABETH Street, Wilmington, DE 19805

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    Picture of Duplexes at 1400 SAINT ELIZABETH Street, Wilmington, DE
    For Sale
    $165,000

    MULTI_FAMILY - WILMINGTON, DE

    Property size:
    1,350 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $122/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 1400 SAINT ELIZABETH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Appliances
    Oven/Range - Gas
    Standard status
    Active
    Size
    1,350 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Annual Amount
    825

    Utilities

    Heating system
    Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1940
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Karen A Ventresca
    Karen A Ventresca

    Listing agent Karen A Ventresca License #RS-0012571

    Listing office RE/MAX Elite 5307 Limestone Road unit: 100, Wilmington, DE

    Listing date Jun 5, 2026

    MLS# DENC2102934 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick duplex with two separately metered 1‑bedroom units
    • Each unit includes a living room, galley kitchen, and a bedroom with walk‑in closet
    • 1st‑floor unit features a full bath with tiled walls
    • 2nd‑floor unit has a full bath with fiberglass shower stall
    • Laundry/basement has inside access with first‑floor unit only
    • Heating is forced air; cooling is via window unit(s); gas oven/range included

    Overview

    This brick duplex includes two separately metered 1-bedroom units. Both floorplans offer a living room, galley kitchen, and a bedroom with a walk-in closet. The first-floor unit includes a full bath with tiled walls, while the second-floor unit has a full bath with a fiberglass shower stall. Laundry and basement access is inside, and is available with the first-floor unit. The property is described as needing work overall, and the age of systems is unknown.

    Access and viewing require care. The listing notes uneven concrete, particularly to the left side of the front porch, and requests caution when viewing. Do not go onto the property without your agent and a confirmed appointment.

    For investors or owner-occupants seeking a two-unit residential income property, this layout can support separate metering and straightforward unit separation. Because the property needs work overall and system age is not confirmed, potential buyers should plan for due diligence and inspections before proceeding. Taxes should also be verified, as the listing states the present owner receives more than one discount.

    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 $21.9k $16.20
    − Vacancy −$1.4k −$1.05
    EGI $20.4k $15.15
    − OpEx −$6.1k −$4.54
    NOI $14.3k $10.60
    1,350 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $204.5K
    $178.9K – $238.6K (±1% cap)
    NOI $14,314 @ 7.0% cap · market cap 8.68%
    Second Best
    Apartment 5plus
    $182.7K
    $159.8K – $213.1K (±1% cap)
    NOI $12,787 @ 7.0% cap · market cap 7.75%
    Theoretical Best
    Office A
    $322.9K
    $282.6K – $376.7K (±1% cap)
    NOI $22,604 @ 7.0% cap · market cap 13.70%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.57323
    Latitude
    39.7362

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    FAQs

    What type of property is this?
    Duplex - Brick duplex offers two separately metered 1-bedroom units, both needing overall work and inspection during showings.
    Where is this duplex located?
    The property is located at 1400 SAINT ELIZABETH Street Wilmington, DE.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: Brick duplex with two separately metered 1‑bedroom units; Each unit includes a living room, galley kitchen, and a bedroom with walk‑in closet; 1st‑floor unit features a full bath with tiled walls
    (302) 354-1188
    We can help!
    Listing Contact
    Karen A Ventresca
    Karen A Ventresca
    Real Estate License ID: RS-0012571
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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