Twin Duplex with Separate
For Sale
$595,000
16 WHITE CLAY Drive, Newark, DE 19711
MULTI_FAMILY - National - NEWARK, DE
Property Size1,575 SF
Lot Size0.50 Acres
Price / SF$377.78
Days on Market96
Property Features for 16 WHITE CLAY Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
6
Parking features
Driveway
High school
NEWARK
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
1,575 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
3052
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Architectural style
National
Listing Agency:
Century 21 Gold Key Realty · Century 21 Real Estate
(302) 369-5397
Listed By:
Kazimieras Viktoras Tauginas
(484) 844-4525
Added: May 8
Changed: Aug 1
Last Checked: Aug 11 at 7:06PM
MLS# DENC2102534
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.
Investment Insights
Based on property information with market context.
This twin duplex offers two units, each with three bedrooms and one bathroom, plus in-unit washer and dryer. The units have separate utilities and HVAC, supporting independent operations for each side. Construction is vinyl siding, and the property includes a basement.
The duplex is located within the City of Newark limits on a half-acre site, with views of White Clay Creek. The property is described as being within walking distance to Main Street and the University of Delaware campus. A driveway provides off-street parking.
Subdivision is possible per the City of Newark, which may be a consideration for future site planning. Heating is provided by heat pump, with electric heat noted, and cooling is provided by a heat pump.
The duplex is located within the City of Newark limits on a half-acre site, with views of White Clay Creek. The property is described as being within walking distance to Main Street and the University of Delaware campus. A driveway provides off-street parking.
Subdivision is possible per the City of Newark, which may be a consideration for future site planning. Heating is provided by heat pump, with electric heat noted, and cooling is provided by a heat pump.
Key Highlights
- Each unit has 3 bedrooms and 1 bathroom with washer and dryer, plus separate utilities and HVAC
- Twin duplex on a 0.5‑acre lot with White Clay Creek views
- Heat pump heating with electric heating; heat pump cooling
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
$16,700
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
2.81%
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%
$334,000
$334.0K
Cap Rate 7%
$238,571
$238.6K
Cap Rate 9%
$185,556
$185.6K
Market Conditions
NOI Build-Up for 1,575 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
$25.5K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$23.9K $15.15/SF
− OpEx
−$7.2K −$4.54/SF
NOI
$16.7K $10.60/SF
Area
New Castle County, DE
Vacancy
6.50%
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%
$334,000
Cap Rate 7%
$238,571
Cap Rate 9%
$185,556
Alternative Uses
Best Use
Multifamily LT 5
$238.6K
$208.8K – $278.3K
NOI $16,700 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$213.1K
$186.5K – $248.6K
NOI $14,918 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$376.7K
$329.6K – $439.5K
NOI $26,371 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 19711, DE
48,477
Population
20,617
Households
2.4
Avg Household Size
37
Median Age
53%
College-Educated
95%
High-School Grad
27.4 sq mi
ZIP Area
1,769
Density / Sq Mi
$94,455
Median Household Income
$43,790
Median Earnings
$1,516
Median Rent
$376,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Twin duplex in Newark with separate utilities, HVAC, and washer/dryer in each 3-bedroom unit.
Where is this duplex located?
The property is located at 16 WHITE CLAY Drive Newark, DE.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Each unit has 3 bedrooms and 1 bathroom with washer and dryer, plus separate utilities and HVAC; Twin duplex on a 0.5‑acre lot with White Clay Creek views; Heat pump heating with electric heating; heat pump cooling
