Three-Unit Multifamily
2401 N BROOM ST, Wilmington, DE 19802
For Sale
$625,000
WILMINGTON, DE
Property Size3,875 SF
Lot Size0.11 Acres
Price / SF$161.29
Days on Market59
Property Features for 2401 N BROOM ST
General Information
Property type
Property subtype
Elementary school district
Middle school district
High school district
Standard status
Lot size
Building Details
Year built
Listing Agency:
Greenville
(302) 351-5000
Listed By:
Rose Bloom · License #RS-0013852
Added: Sep 10
Changed: Sep 11
Last Checked: Nov 7 at 12:06AM
MLS# DENC2111040
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This detached multifamily property contains 3,875 square feet on a 0.11-acre lot and was built in 1924. The building includes three rented apartments. Two units offer three bedrooms, one full bathroom, a full kitchen with butler pantry, dining room, living room, and wood-burning fireplace. The third apartment has two bedrooms, one full bathroom, a studio-style kitchenette, and a family room.
A two-car garage provides additional storage space, with a designated laundry area within the property. The address is near Salesianum School and offers access to schools, transportation, employment centers, and major roadways in Wilmington, Delaware.
A two-car garage provides additional storage space, with a designated laundry area within the property. The address is near Salesianum School and offers access to schools, transportation, employment centers, and major roadways in Wilmington, Delaware.
Key Highlights
- Three rented apartments within one detached multifamily property
- 3,875‑square‑foot building on a 0.11‑acre lot
- Two apartments with 3 bedrooms, 1 full bathroom, full kitchen, dining room, living room, and wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,086
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,720
$821.7K
Cap Rate 7%
$586,943
$586.9K
Cap Rate 9%
$456,511
$456.5K
Market Conditions
NOI Build-Up for 3,875 SF
Gross rent
$62.8K $16.20/SF
− Vacancy
−$4.1K −$1.05/SF
EGI
$58.7K $15.15/SF
− OpEx
−$17.6K −$4.54/SF
NOI
$41.1K $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 Rate 5%
$821,720
Cap Rate 7%
$586,943
Cap Rate 9%
$456,511
Alternative Uses
Best Use
Multifamily LT 5
$586.9K
$513.6K – $684.8K
NOI $41,086 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$926.9K
$811.0K – $1.08M
NOI $64,881 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
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Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Wilmington, DE
Properties on Market for Triplexes in Wilmington
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Detached rental property with three apartments, flexible layouts, and a two-car garage.
Where is this triplex located?
The property is located at 2401 N BROOM ST Wilmington, DE.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three rented apartments within one detached multifamily property; 3,875‑square‑foot building on a 0.11‑acre lot; Two apartments with 3 bedrooms, 1 full bathroom, full kitchen, dining room, living room, and wood‑burning fireplace
