Building Details

Year Built 1940

Buildings 1

Listing Agency: Iron Valley Real Estate at The Beach

Listed By: Renee Edge · License #RA0031042 Show Phone

Source: Tbhteam

Added: Jul 12 Changed: Oct 4 Last Checked: Oct 7 at 5:21PM

Report an Issue

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 Iron Valley Real Estate at The Beach

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This two-unit duplex includes matching residential layouts, with each unit providing 3 bedrooms and 1 full bath. The property is currently tenant-occupied and sits on a 0.15-acre lot. A roof installed approximately 2 years ago is among the recent improvements, while parking is provided through a private driveway and along the street.

The property is located at 23–25 Clark St in Harrington, Delaware, within the Downtown Development District. The zoning is described as supporting residential, multifamily, and commercial use, giving the building multiple potential occupancy frameworks. Its location also places the property near local shops, amenities, and major routes.

Key Highlights

• Two‑unit duplex with 3 bedrooms and 1 full bath in each unit
• 0.15‑acre lot with private driveway and on‑street parking
• Roof approximately 2 years old

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,122

Cap Rate

7.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$582,440 $582.4K

Cap Rate 7%

$416,029 $416.0K

Cap Rate 9%

$323,578 $323.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,688 SF

Gross rent

$43.5K $16.20/SF

− Vacancy

−$1.9K −$0.72/SF

EGI

$41.6K $15.48/SF

− OpEx

−$12.5K −$4.64/SF

NOI

$29.1K $10.83/SF

Area

Kent County, DE

Vacancy

4.46%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$582,440

Cap Rate 7%

$416,029

Cap Rate 9%

$323,578

Alternative Uses

Best Use

Multifamily LT 5

$416.0K

$364.0K – $485.4K (±1% cap)

NOI $29,122 @ 7.0% cap · market cap 7.30%

Second Best

Apartment 5plus

$384.0K

$336.0K – $448.0K (±1% cap)

NOI $26,882 @ 7.0% cap · market cap 6.74%

Theoretical Best

Office A

$676.9K

$592.3K – $789.7K (±1% cap)

NOI $47,380 @ 7.0% cap · market cap 11.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Plumbing Service Parking Lot & Garage Barber Shop Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

369

Businesses Nearby

Explore this area Business Placement

Demographics for 19952, DE

10,621

Population

4,446

Households

2.4

Avg Household Size

41

Median Age

23%

College-Educated

91%

High-School Grad

91.0 sq mi

ZIP Area

117

Density / Sq Mi

$78,333

Median Household Income

$41,713

Median Earnings

$1,183

Median Rent

$274,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Similar For Sale Nearby

See more

Ranch Homestead with Pole Shed

1663 White Marsh Branch Rd, Harrington, DE 19952

$560,000

1,358 SF

View details

Retail Space

40 COMMERCE STREET, Harrington, DE 19952

Contact for pricing

8,385 SF

View details

Profitable Poultry Operation with Residences

Poultry Farm, Harrington, DE

$6,300,000

View details

Frequently Asked Questions

What type of property is this?

Duplex - Tenant-occupied duplex with flexible zoning, private driveway parking, and additional on-street parking.

Where is this duplex located?

The property is located at 23 23-25 Clark St Harrington, DE.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Two‑unit duplex with 3 bedrooms and 1 full bath in each unit; 0.15‑acre lot with private driveway and on‑street parking; Roof approximately 2 years old