Creekside Duplex with Two
For Sale
$595,000
16 WHITE CLAY Drive, Newark, DE 19711
Multi-Family, NEWARK, DE
Property Size1,575 SF
Lot Size0.50 Acres
Price / SF$377.78
Days on Market142
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
Amenities
washer/dryer
HVAC
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: Sep 1
Last Checked: Sep 26 at 7:06AM
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 duplex at 16 White Clay Drive contains two residential units, each configured with 3 bedrooms and 1 bath. Both units include a washer and dryer, separate utilities, and individual HVAC systems. The 1,575-square-foot property has vinyl siding, a basement, driveway parking, heat-pump heating and cooling, and electric heat. Built in 1900, the building uses a National architectural style.
The property occupies 0.5 acres within Newark city limits and sits along White Clay Creek with a water view. Main Street and the University of Delaware campus are within walking distance. Subdivision is possible per the City of Newark.
The property occupies 0.5 acres within Newark city limits and sits along White Clay Creek with a water view. Main Street and the University of Delaware campus are within walking distance. Subdivision is possible per the City of Newark.
Key Highlights
- Duplex with two units, each offering 3 bedrooms and 1 bath
- 1,575 square feet on 0.5 acres along White Clay Creek
- Separate utilities and individual HVAC for each unit
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,323
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer three bedrooms, separate utilities, and individual HVAC systems near Main Street and the University of Delaware.
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: Duplex with two units, each offering 3 bedrooms and 1 bath; 1,575 square feet on 0.5 acres along White Clay Creek; Separate utilities and individual HVAC for each unit
