Income-Producing Duplex with Flexible
For Sale
$389,000
23-25 CLARK ST, Harrington, DE 19952
Two-unit duplex offering immediate rental income and long-term upside.
Property Size2,688 SF
Lot Size0.15 Acres
Price / SF$144.72
Days on Market214
Property Features for 23-25 CLARK ST
General Information
Standard status
Active
Size
2,688 SF
Lot size
0.15 Acres
Property subtype
Multi-family
Listing Agency:
Iron Valley Real Estate at The Beach
(302) 541-8787
Listed By:
Renee Edge · License #RA0031042
(302) 535-5599
Source:
Towncentermd
Added: Mar 31
Changed: Oct 26
Last Checked: Oct 28 at 8:42AM
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
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Investment Insights
Based on property information with market context.
This two-unit duplex presents an investment opportunity with immediate rental income and long-term potential. The property's zoning allows for residential, multi-family, or commercial use. Each unit includes 3 bedrooms and 1 full bath. Situated on a 0.15-acre lot, the property provides both private driveway and on-street parking. A roof approximately 2 years old is among the recent improvements. The property is currently tenant-occupied. Located within the Downtown Development District, the property may benefit from incentives and revitalization programs. The property is near local amenities, shops, and major routes. The property has a bike score of 39, indicating it is somewhat bikeable, and a walk score of 53, indicating it is somewhat walkable. This property is suitable for expanding a portfolio, launching a business, or for a live/work opportunity.
Key Highlights
- Income‑producing duplex providing immediate rental income.
- Flexible zoning allows for residential, multi‑family, or commercial use.
- Located within the Downtown Development District, offering potential incentives and revitalization programs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,122
Cap Rate
7.49%
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
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
NOI $29,122 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$384.0K
$336.0K – $448.0K
NOI $26,882 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$676.9K
$592.3K – $789.7K
NOI $47,380 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex offering immediate rental income and long-term upside.
Where is this duplex located?
The property is located at 23-25 CLARK ST Harrington, DE.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Income‑producing duplex providing immediate rental income.; Flexible zoning allows for residential, multi‑family, or commercial use.; Located within the Downtown Development District, offering potential incentives and revitalization programs.
