Wilmington Duplex: Income Potential

202 W 35TH Street, Wilmington, DE 19802

View on Map

For Sale

$225,000

MULTI_FAMILY - Other - WILMINGTON, DE

Property size:

1,425 SF

Lot size:

0.05 Acres

Price / SF:

$157/SF

HighLights

Instant income from existing first‑floor tenants.
Two‑unit rental property with potential for additional income.
Each unit features 2 bedrooms, 1 bath, a living room, and a kitchen.
Foundation under much of the 1st floor has been re‑built with permits and engineering.
First floor has a brand new bath built with permits.
Basement access available to both units, offering potential for tenant use or additional rental income.

We can help!

Listing Contact

Marc Pollak

Learn more

For Sale

$225,000

MULTI_FAMILY - Other - WILMINGTON, DE

Property size:

1,425 SF

Lot size:

0.05 Acres

Price / SF:

$157/SF

Added:: Oct 20, 2025
Days on Market:: 233
Last Refresh:: Jun 9 at 8:06 pm

Property Features for 202 W 35TH Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Parking features: On Street
Interior features: Carpet
Appliances: Oven/Range - Electric, Refrigerator, WaterHeater
Standard status: Active
Size: 1,425 SF
Lot size: 0.05 Acres

Taxes and HOA fees

Tax Annual Amount: 3245

Building Details

Year built: 1935
Number of units: 2
Building materials: Brick
Architectural style: Other

We can help!

Listing Contact

Marc Pollak

Listing agent Marc Pollak License #RS-0025450

Listing office Empower Real Estate, LLC 111 W Continental Drive unit: Suite 305, Newark, DE

Listing date Oct 20, 2025

MLS# DENC2091558 Listing URL

HighLights

Instant income from existing first‑floor tenants.
Two‑unit rental property with potential for additional income.
Each unit features 2 bedrooms, 1 bath, a living room, and a kitchen.
Foundation under much of the 1st floor has been re‑built with permits and engineering.
First floor has a brand new bath built with permits.
Basement access available to both units, offering potential for tenant use or additional rental income.

Overview

This two-unit rental property in Wilmington offers an opportunity to expand an existing portfolio or to live in one unit while renting out the other. The building features separate gas and electric utilities for each unit, although the gas utilities are currently not in use but available. Foundation work has been completed under much of the first floor with permits and engineering, and a new bathroom was built on the first floor with permits in the second and third quarters of 2025. The first-floor unit is currently occupied by tenants who wish to stay, providing immediate rental income. The second-floor unit is vacant and actively being marketed for rent; it can be delivered vacant or with a new tenant in place. Both units include two bedrooms, one bathroom, a living room, and a kitchen. The first-floor unit has interior access to the basement, which can also be accessed from the back of the building. The 1425 square foot property is located on a 0.05-acre lot.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$23.1k	$16.20
− Vacancy	−$1.5k	−$1.05
EGI	$21.6k	$15.15
− OpEx	−$6.5k	−$4.54
NOI	$15.1k	$10.60

1,425 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$215.8K

$188.9K – $251.8K (±1% cap)

NOI $15,109 @ 7.0% cap · market cap 6.72%

Second Best

Apartment 5plus

$192.8K

$168.7K – $225.0K (±1% cap)

NOI $13,497 @ 7.0% cap · market cap 6.00%

Theoretical Best

Office A

$340.8K

$298.2K – $397.7K (±1% cap)

NOI $23,859 @ 7.0% cap · market cap 10.60%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Eastlawn Area Human ... Social Service Agency Macedonia Missionary Baptist ... Church

Suggested Use

Location Insight

Map
Local Demand

City: Wilmington
County: New Castle
State: Delaware
Longitude: -75.52933
Latitude: 39.76038

Nearby Similar for Sale

$950,000

8,000 SF

Versatile Office Building with Parking

Multi-tenant office building with private parking in Wilmington, DE.

2400 W 4TH ST, WILMINGTON, DE 19805

View Details
$1,100,000

Renovated Office Building in Wilmington

Two-story office building in prime location with flexible suite arrangements.

1501 N WALNUT Street, WILMINGTON, DE 19801

View Details
$439,900

4,250 SF

Wilmington Triplex: Investment Opportunity

Well-maintained triplex in Wilmington with immediate rental income.

902 N MADISON Street, WILMINGTON, DE 19801

View Details
$395,000

2,875 SF

Trinity Vicinity Triplex in Wilmington

Three 2-bedroom apartments in a vibrant, walkable Wilmington neighborhood.

801 W 9TH Street, WILMINGTON, DE 19801

View Details
$230,000

1,800 SF

Updated Duplex in Wilmington

Two-unit property with updated electrical systems, suitable for investors.

1607 W 4TH Street, WILMINGTON, DE 19805

View Details
$550,000

Renovated Triplex with Updated Interiors

Renovated triplex offering three updated units with remodeled kitchens and refinished hardwood floors.

709 W 19TH ST, WILMINGTON, DE 19802

View Details
$895,000

North Wilmington Commercial Opportunity

Premium commercial property in North Wilmington with high visibility and accessibility.

2417 SILVERSIDE RD, WILMINGTON, DE 19810

View Details
$380,000

2,268 SF

Corner Retail and Apartment Building

Corner mixed-use building with salon-ready first floor and two 2-bedroom apartments, fully tenant-occupied.

837 W 4TH Street, WILMINGTON, DE 19801

View Details
$699,000

Mixed-Use Building in Central Business District

Three-story mixed-use building with restaurant and residential units.

919 N ORANGE Street, WILMINGTON, DE 19801

View Details
$379,000

825 SF

Colonial Multifamily Property in Wilmington

Income-generating duplex with refreshed units, ideal for investors or homeowners.

310 N DUPONT Road, WILMINGTON, DE 19804

View Details
$150,000

Retail Storefront with Off-Street Parking

Former tax office space with a bathroom, small waiting area, and off-street employee parking on a busy foot-traffic street.

2910 N MARKET Street, WILMINGTON, DE 19802

View Details
$750,000

Prime Commercial Property in Wilmington

High-visibility commercial property with ample parking and redevelopment potential.

735 PHILADELPHIA Pike, WILMINGTON, DE 19809

View Details

For sale
Duplexes
DE
Wilmington
19802
202 W 35TH Street

What type of property is this?

Duplex - Two-unit property in Wilmington, DE with immediate income potential.

Where is this duplex located?

The property is located at 202 W 35TH Street Wilmington, DE.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Instant income from existing first‑floor tenants.; Two‑unit rental property with potential for additional income.; Each unit features 2 bedrooms, 1 bath, a living room, and a kitchen.

202 W 35TH Street, Wilmington, DE 19802

MULTI_FAMILY - Other - WILMINGTON, DE

Property Features for 202 W 35TH Street

General Information

Taxes and HOA fees

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Office Building with Parking

Renovated Office Building in Wilmington

Wilmington Triplex: Investment Opportunity

Trinity Vicinity Triplex in Wilmington

Updated Duplex in Wilmington

Renovated Triplex with Updated Interiors

North Wilmington Commercial Opportunity

Corner Retail and Apartment Building

Mixed-Use Building in Central Business District

Colonial Multifamily Property in Wilmington

Retail Storefront with Off-Street Parking

Prime Commercial Property in Wilmington

FAQs

Create New Password