Brick Duplex with Private
New
For Sale
$249,900
2125 SENECA Road, Wilmington, DE 19805
Multi-Family, WILMINGTON, DE
Property Size1,600 SF
Lot Size0.05 Acres
Price / SF$156.19
Days on Market1
Property Features for 2125 SENECA Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
1
Parking features
On Street, Driveway
Elementary school district
RED CLAY CONSOLIDATED
Middle school district
RED CLAY CONSOLIDATED
High school district
RED CLAY CONSOLIDATED
Standard status
Active
Size
1,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2302
Utilities
Heating system
Forced Air
Amenities
private entrance
backyard
Building Details
Year built
1950
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
RE/MAX Associates-Wilmington · RE/MAX International
(302) 477-3900
Listed By:
Stephanie Mikul · License #RS0025627
(302) 218-5182
Added: Aug 31
Last Checked: Aug 31 at 11:06AM
MLS# DENC2109800
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 Wilmington duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. Both units have distinct living areas, private entrances, and access to the backyard. The brick building includes forced-air heating, a basement, and 1,600 square feet of property size on a 0.05-acre lot. Built in 1950, the property also offers one driveway parking space along with on-street parking.
The lower unit is occupied by tenants receiving Housing Choice Voucher assistance. Tenants pay their own gas and electric, while the owner pays property taxes, water, and sewer. The property is located in Wilmington, Delaware, within New Castle County.
The lower unit is occupied by tenants receiving Housing Choice Voucher assistance. Tenants pay their own gas and electric, while the owner pays property taxes, water, and sewer. The property is located in Wilmington, Delaware, within New Castle County.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Each unit includes a private entrance, separate living area, and backyard access
- 1,600 square feet on a 0.05‑acre lot
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
$16,965
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
6.79%
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%
$339,300
$339.3K
Cap Rate 7%
$242,357
$242.4K
Cap Rate 9%
$188,500
$188.5K
Market Conditions
NOI Build-Up for 1,600 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
$25.9K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.2K $15.15/SF
− OpEx
−$7.3K −$4.54/SF
NOI
$17.0K $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%
$339,300
Cap Rate 7%
$242,357
Cap Rate 9%
$188,500
Alternative Uses
Best Use
Multifamily LT 5
$242.4K
$212.1K – $282.8K
NOI $16,965 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$216.5K
$189.4K – $252.6K
NOI $15,155 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$382.7K
$334.9K – $446.5K
NOI $26,789 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,087
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature separate living areas and individual entrances.
Where is this duplex located?
The property is located at 2125 SENECA Road Wilmington, DE.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Each unit includes a private entrance, separate living area, and backyard access; 1,600 square feet on a 0.05‑acre lot
