Duplex with Updated
For Sale
$230,000
1607 W 4th St, Wilmington, DE 19805
Two residential units offer distinct layouts, including a renovated one-bedroom residence and a larger upper-level unit with bonus space.
Property Size1,800 SF
Price / SF$127.78
Days on Market92
Property Features for 1607 W 4th St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
EXP Realty, LLC
Listed By:
Jemimah E. Chuks · License #RS-0026132
(302) 359-8337
Source:
Burkhart
Added: Jul 16
Changed: Oct 4
Last Checked: Oct 7 at 2:44PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex, built in 1890, contains two residential units with separate configurations. The first-floor residence includes one bedroom and one bathroom and has been updated. Upstairs, the second unit provides two bedrooms, two bathrooms, and an additional room that can function as office space or another bedroom. Electrical systems have also been updated.
Located at 1607 W 4th St in Wilmington, Delaware, the property combines a compact multifamily layout with a larger upper unit and flexible interior space. The arrangement may suit an owner-occupant or an investor seeking a two-unit residential property, subject to applicable approvals and operating considerations.
Located at 1607 W 4th St in Wilmington, Delaware, the property combines a compact multifamily layout with a larger upper unit and flexible interior space. The arrangement may suit an owner-occupant or an investor seeking a two-unit residential property, subject to applicable approvals and operating considerations.
Key Highlights
- Two‑unit duplex with 1,800 square feet of property size
- First‑floor unit includes 1 bedroom and 1 bathroom
- Second‑floor unit offers 2 bedrooms, 2 bathrooms, and a bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,085
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,700
$381.7K
Cap Rate 7%
$272,643
$272.6K
Cap Rate 9%
$212,056
$212.1K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$29.2K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.3K $15.15/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$19.1K $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 Rate 5%
$381,700
Cap Rate 7%
$272,643
Cap Rate 9%
$212,056
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$243.6K
$213.1K – $284.2K
NOI $17,049 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$430.5K
$376.7K – $502.3K
NOI $30,138 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
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 distinct layouts, including a renovated one-bedroom residence and a larger upper-level unit with bonus space.
Where is this duplex located?
The property is located at 1607 W 4th St Wilmington, DE.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,800 square feet of property size; First‑floor unit includes 1 bedroom and 1 bathroom; Second‑floor unit offers 2 bedrooms, 2 bathrooms, and a bonus room
