Occupied Duplex Income
202 North Union Street Wilmington, DE 19805
For Sale
$235,000
Duplex with an occupied commercial unit downstairs and an occupied one-bedroom apartment upstairs, both reported in good condition.
Property Size1,650 SF
Price / SF$142.42
Days on Market292
Property Features for 202 North Union Street
General Information
- Standard status
- Active
- Size
- 1,650 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing Agency:
Compass
(302) 723-3770
Listed By:
Bob Blackhurst · License #RS-0022776
(302) 723-3770
Source:
Compass
Added: Oct 6, 2025
Changed: Jul 22
Last Checked: Jul 23 at 10:28AM
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 Compass
Investment Insights
Based on property information with market context.
This duplex at 202 North Union Street includes an occupied commercial unit on the first level and an occupied full one-bedroom residential apartment upstairs. The property is described as well maintained, with both units reported in good condition.
The property is located in Wilmington, Delaware, in city limits, within New Castle County. The listing references the Red Clay Consolidated School District.
For buyers seeking a cash-flowing, two-unit setup, the key current configuration is a commercial tenant downstairs paired with a residential tenant upstairs.
The property is located in Wilmington, Delaware, in city limits, within New Castle County. The listing references the Red Clay Consolidated School District.
For buyers seeking a cash-flowing, two-unit setup, the key current configuration is a commercial tenant downstairs paired with a residential tenant upstairs.
Key Highlights
- Duplex on Union Street with an occupied commercial unit downstairs and an occupied 1‑bedroom residential unit upstairs
- Both units are reported in good condition
- Occupied long‑term tenants in the downstairs commercial unit
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 | $26.7k | $16.20 |
| − Vacancy | −$1.7k | −$1.05 |
| EGI | $25.0k | $15.15 |
| − OpEx | −$7.5k | −$4.54 |
| NOI | $17.5k | $10.60 |
1,650 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$249.9K
$218.7K – $291.6K
NOI $17,495 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$223.3K
$195.4K – $260.5K
NOI $15,629 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$394.7K
$345.3K – $460.5K
NOI $27,627 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Max Tax
Accounting Firm
FAQs
What type of property is this?
Duplex - Duplex with an occupied commercial unit downstairs and an occupied one-bedroom apartment upstairs, both reported in good condition.
Where is this duplex located?
The property is located at 202 North Union Street Wilmington, DE.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Duplex on Union Street with an occupied commercial unit downstairs and an occupied 1‑bedroom residential unit upstairs; Both units are reported in good condition; Occupied long‑term tenants in the downstairs commercial unit
