Renovated Duplex with Two
28 E MAIN STREET Newark, DE 19702
New
For Sale
$575,000
Fully renovated duplex with two vacant, move-in-ready 3-bedroom units, each with central HVAC and in-unit laundry hookups.
Property Size2,125 SF
Price / SF$270.59
Days on Market7
Property Features for 28 E MAIN STREET
General Information
Standard status
Active
Size
2,125 SF
Property subtype
Duplex
Building Details
Year Built
1860
Listing Agency:
Compass
(302) 290-2933
Listed By:
Sumeet Malik
(302) 290-2933
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 29 at 5:03AM
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 Compass
Investment Insights
Based on property information with market context.
28 E Main St is a fully renovated duplex with two completely vacant, move-in-ready units. Each unit offers 3 bedrooms and 2.5 bathrooms and includes brand-new appliances, new granite countertops, and a brand-new roof. Separate, zoned central air and heat serve each unit, supporting independent climate control and separate utility costs. Laundry hookup is available in the basement.
The property is located in downtown Newark, with proximity to the University of Delaware and Main Street shopping and dining, plus easy access to major commuter routes.
For purchasers seeking a duplex setup with two independent residences, this property provides a straightforward two-unit configuration with updated interiors and current mechanicals for both sides.
The property is located in downtown Newark, with proximity to the University of Delaware and Main Street shopping and dining, plus easy access to major commuter routes.
For purchasers seeking a duplex setup with two independent residences, this property provides a straightforward two-unit configuration with updated interiors and current mechanicals for both sides.
Key Highlights
- Fully renovated duplex with both units completely vacant and move‑in ready
- Two separate 3‑bedroom, 2.5‑bath units with brand‑new appliances and new granite countertops
- Brand‑new roof and fully updated interiors for both units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.4k | $16.20 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $32.2k | $15.15 |
| − OpEx | −$9.7k | −$4.54 |
| NOI | $22.5k | $10.60 |
2,125 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.9K
$281.6K – $375.5K
NOI $22,531 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$287.5K
$251.6K – $335.5K
NOI $20,128 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$508.3K
$444.8K – $593.0K
NOI $35,580 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated duplex with two vacant, move-in-ready 3-bedroom units, each with central HVAC and in-unit laundry hookups.
Where is this duplex located?
The property is located at 28 E MAIN STREET Newark, DE.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fully renovated duplex with both units completely vacant and move‑in ready; Two separate 3‑bedroom, 2.5‑bath units with brand‑new appliances and new granite countertops; Brand‑new roof and fully updated interiors for both units
