Multifamily Property with Parking
For Sale
$175,000
19 CORBIN COURT, Wilmington, DE 19805
The property includes a parking lot and an unfinished basement with exterior access.
Property Size2,065 SF
Price / SF$127.27
Days on Market14
Property Features for 19 CORBIN COURT
General Information
Standard status
Active
Size
2,065 SF
Property subtype
Residential Income
Zoning
26R-3
Taxes and HOA fees
Annual Taxes
$3,300
Amenities
Sidewalks, Street Lights
Wall Unit(s), Electric
Electric, Zoned, Radiant
Exterior Entry, Full, Unfinished
Gas Water Heater
Parking Lot
Other
Building Details
Building Size
2,065 SF
Year Built
1943
Listed By:
Marcus B DuPhily
(302) 593-2828
Source:
Evrealestate
Added: Sep 25
Changed: Oct 7
Last Checked: Oct 7 at 1:52PM
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 Marcus B DuPhily
Investment Insights
Based on property information with market context.
Built in 1943, this multifamily property includes an unfinished full basement with exterior entry. Heating is electric and zoned, with radiant heat and wall units; the water heater is gas. A parking lot is also part of the property.
Key Highlights
- Built in 1943
- Unfinished full basement with exterior entry
- Parking lot on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,024
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,480
$260.5K
Cap Rate 7%
$186,057
$186.1K
Cap Rate 9%
$144,711
$144.7K
Market Conditions
NOI Build-Up for 1,375 SF
Gross rent
$25.2K $18.36/SF
− Vacancy
−$1.6K −$1.14/SF
EGI
$23.7K $17.22/SF
− OpEx
−$10.7K −$7.75/SF
NOI
$13.0K $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%
$260,480
Cap Rate 7%
$186,057
Cap Rate 9%
$144,711
Alternative Uses
Best Use
Apartment 5plus
$186.1K
$162.8K – $217.1K
NOI $13,024 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.9K
$287.8K – $383.7K
NOI $23,022 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
864
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?
Multifamily property - The property includes a parking lot and an unfinished basement with exterior access.
Where is this multifamily property located?
The property is located at 19 CORBIN COURT Wilmington, DE.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Built in 1943; Unfinished full basement with exterior entry; Parking lot on site
