Brick Duplex with Two
For Sale
$390,000
209 N BROOM Street, Wilmington, DE 19805
MULTI_FAMILY - Colonial - WILMINGTON, DE
Property Size2,200 SF
Lot Size0.04 Acres
Price / SF$177.27
Days on Market15
Property Features for 209 N BROOM Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Off Street
Subdivision
WILM #01
Elementary school
WARNER
Middle school
HENRY B. DU PONT
High school
ALEXIS I. DUPONT
Elementary school district
RED CLAY CONSOLIDATED
Middle school district
RED CLAY CONSOLIDATED
High school district
RED CLAY CONSOLIDATED
Standard status
Active
Size
2,200 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2850
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1900
Number of units
1
Building materials
Brick
Architectural style
Colonial
Listing Agency:
EXP Realty, LLC
(888) 543-4829
Listed By:
Erik Bashford · License #RS-0020681
(302) 540-8048
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# DENC2108044
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.
This 2,200-square-foot duplex occupies a 0.04-acre lot and was built in 1900. The brick Colonial includes two residential units: one with three bedrooms and one full bathroom, and another with four bedrooms and one full bathroom. Off-street parking and hot-water heating are provided.
The property is located at 209 N Broom Street in Wilmington, Delaware, near downtown Wilmington, major highways, public transportation, shopping, restaurants, and employment centers. Its two-unit configuration offers separate residential layouts within an established multifamily property.
The property is located at 209 N Broom Street in Wilmington, Delaware, near downtown Wilmington, major highways, public transportation, shopping, restaurants, and employment centers. Its two-unit configuration offers separate residential layouts within an established multifamily property.
Key Highlights
- Two‑unit duplex with 2,200 square feet of property size
- Unit 1 includes 3 bedrooms and 1 full bathroom
- Unit 2 includes 4 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,326
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,520
$466.5K
Cap Rate 7%
$333,229
$333.2K
Cap Rate 9%
$259,178
$259.2K
Market Conditions
NOI Build-Up for 2,200 SF
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.
Gross rent
$35.6K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.3K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,520
Cap Rate 7%
$333,229
Cap Rate 9%
$259,178
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$297.7K
$260.5K – $347.3K
NOI $20,838 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$526.2K
$460.4K – $613.9K
NOI $36,835 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,935
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Colonial residential income property with off-street parking and hot-water heating.
Where is this duplex located?
The property is located at 209 N BROOM Street Wilmington, DE.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,200 square feet of property size; Unit 1 includes 3 bedrooms and 1 full bathroom; Unit 2 includes 4 bedrooms and 1 full bathroom
