1-Bedroom
For Sale
$160,000
1401 PENNSYLVANIA AVENUE Unit 208, Wilmington, DE 19806
Residents have access to valet garage parking, a staffed concierge, and shared community spaces.
Property Size785 SF
Price / SF$203.82
Days on Market97
Property Features for 1401 PENNSYLVANIA AVENUE Unit 208
General Information
Standard status
Active
Size
785 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,461
Amenities
garage parking
24/7 concierge
secure package room
valet garage parking
on-site laundry
private Secret Garden patio
community lounge with pool table
Building Details
Building Size
785 SF
Year Built
1960
Listing Agency:
Monument Sotheby's International Realty
Listed By:
Nicholas D Smith
(302) 382-4623
Source:
Harrisonpropertiesltd
Added: Jul 27
Changed: Oct 26
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
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Investment Insights
Based on property information with market context.
This second-floor condominium in Wilmington offers one bedroom and one bathroom across 785 square feet. The unit includes a modern kitchen, an updated bathroom, and generous closet space. The building dates to 1960.
Building amenities include a 24/7 concierge, a secure package room, valet garage parking, and on-site laundry. Residents can also use a private garden patio and a community lounge with a pool table.
Building amenities include a 24/7 concierge, a secure package room, valet garage parking, and on-site laundry. Residents can also use a private garden patio and a community lounge with a pool table.
Key Highlights
- 785 SF, with one bedroom and one bathroom
- Second‑floor condominium at 1401 Pennsylvania Avenue, Unit 208, Wilmington, DE 19806
- Building constructed in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,435
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$148,700
$148.7K
Cap Rate 7%
$106,214
$106.2K
Cap Rate 9%
$82,611
$82.6K
Market Conditions
NOI Build-Up for 785 SF
Gross rent
$14.4K $18.36/SF
− Vacancy
−$894 −$1.14/SF
EGI
$13.5K $17.22/SF
− OpEx
−$6.1K −$7.75/SF
NOI
$7.4K $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%
$148,700
Cap Rate 7%
$106,214
Cap Rate 9%
$82,611
Alternative Uses
Best Use
Apartment 5plus
$106.2K
$92.9K – $123.9K
NOI $7,435 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$187.8K
$164.3K – $219.1K
NOI $13,144 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,896
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Residents have access to valet garage parking, a staffed concierge, and shared community spaces.
Where is this residential income property located?
The property is located at 1401 PENNSYLVANIA AVENUE Unit 208 Wilmington, DE.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 785 SF, with one bedroom and one bathroom; Second‑floor condominium at 1401 Pennsylvania Avenue, Unit 208, Wilmington, DE 19806; Building constructed in 1960
