Updated Residential
For Sale
$274,900
1401 PENNSYLVANIA AVENUE Unit 1010, Wilmington, DE 19806
The residence features a renovated kitchen, three updated full bathrooms, and building-provided 24-hour security.
Property Size2,080 SF
Price / SF$132.16
Days on Market72
Property Features for 1401 PENNSYLVANIA AVENUE Unit 1010
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Utilities to Site
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,261
Amenities
24-hour security
all-inclusive utilities
valet parking
Building Details
Building Size
2,080 SF
Year Built
1960
Listing Agency:
Monument Sotheby's International Realty
Listed By:
Nicholas D Smith
(302) 382-4623
Source:
Harrisonpropertiesltd
Added: Aug 18
Changed: Oct 27
Last Checked: Oct 26 at 3:51PM
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 Monument Sotheby's International Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 1010 is a residential apartment in a building completed in 1960. Its interior has an updated kitchen, new windows, and three renovated full bathrooms. Building services include 24-hour security, 24-hour valet parking, and utilities included in the residence’s offering.
The property is in Trolley Square in Wilmington, near restaurants, cafes, boutiques, and nightlife. The building’s amenities and neighborhood services provide convenient access to daily needs and local destinations.
The property is in Trolley Square in Wilmington, near restaurants, cafes, boutiques, and nightlife. The building’s amenities and neighborhood services provide convenient access to daily needs and local destinations.
Key Highlights
- Renovated kitchen
- New windows
- Three renovated full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,702
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,040
$394.0K
Cap Rate 7%
$281,457
$281.5K
Cap Rate 9%
$218,911
$218.9K
Market Conditions
NOI Build-Up for 2,080 SF
Gross rent
$38.2K $18.36/SF
− Vacancy
−$2.4K −$1.14/SF
EGI
$35.8K $17.22/SF
− OpEx
−$16.1K −$7.75/SF
NOI
$19.7K $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%
$394,040
Cap Rate 7%
$281,457
Cap Rate 9%
$218,911
Alternative Uses
Best Use
Apartment 5plus
$281.5K
$246.3K – $328.4K
NOI $19,702 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.5K
$435.3K – $580.4K
NOI $34,826 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 19806, DE
10,083
Population
6,638
Households
1.5
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
1.7 sq mi
ZIP Area
5,931
Density / Sq Mi
$86,240
Median Household Income
$76,246
Median Earnings
$1,329
Median Rent
$370,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The residence features a renovated kitchen, three updated full bathrooms, and building-provided 24-hour security.
Where is this residential income property located?
The property is located at 1401 PENNSYLVANIA AVENUE Unit 1010 Wilmington, DE.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Renovated kitchen; New windows; Three renovated full bathrooms
