Updated Duplex in
1607 W 4TH Street Wilmington, DE 19805
For Sale
$230,000
MULTI_FAMILY - Other - WILMINGTON, DE
Property Size1,800 SF
Lot Size0.04 Acres
Price / SF$127.78
Days on Market126
Property Features for 1607 W 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Assigned, On Street
Standard status
Active
Size
1,800 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2531
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Building Details
Year built
1890
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 543-4829
Listed By:
Jemimah E. Chuks · License #RS-0026132
(302) 359-8337
Added: Mar 27
Changed: Jul 2
Last Checked: Jul 30 at 8:06AM
MLS# DENC2099576
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.
Located in Wilmington, Delaware, this two-unit property at 1607 W 4th St presents an opportunity for investors and first-time homebuyers. The main floor unit features one bedroom and one bathroom and has been updated. The second-floor unit includes two bedrooms, two bathrooms, and a bonus room suitable for a home office or a possible third bedroom. The property has updated electrical systems. The lot size is 0.04 acres, and the property size is 1800 square feet. The current tenants are paying $1,400. This multi-unit setup allows investors to add to their rental portfolio. First-time buyers can live in one unit and generate income from the second unit to offset mortgage payments.
Key Highlights
- Brick 2‑unit property at 1607 W 4th St, Wilmington, DE 19805
- Main‑floor unit: 1 bed, 1 bath; described as already updated
- Second‑floor unit: 2 beds, 2 baths plus a bonus room for a home office or possible 3rd bedroom
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.2k | $16.20 |
| − Vacancy | −$1.9k | −$1.05 |
| EGI | $27.3k | $15.15 |
| − OpEx | −$8.2k | −$4.54 |
| NOI | $19.1k | $10.60 |
1,800 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated electrical systems, suitable for investors.
Where is this duplex located?
The property is located at 1607 W 4TH Street 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: Brick 2‑unit property at 1607 W 4th St, Wilmington, DE 19805; Main‑floor unit: 1 bed, 1 bath; described as already updated; Second‑floor unit: 2 beds, 2 baths plus a bonus room for a home office or possible 3rd bedroom
