Two-Unit Duplex with Private
For Sale
$250,000
29 N NEW ST, Dover, DE 19904
Converted residential property with separate apartments and a currently occupied first-floor unit.
Property Size1,591 SF
Price / SF$157.13
Days on Market47
Property Features for 29 N NEW ST
General Information
Standard status
Active
Size
1,591 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Listing Agency:
Keller Williams Realty Central-Delaware
(302) 677-0020
Listed By:
Casey L Gore · License #RS-0024991
(302) 331-3568
Source:
Imanirealtors
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 30 at 1:45PM
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 Keller Williams Realty Central-Delaware
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Investment Insights
Based on property information with market context.
This 1,591-square-foot duplex occupies a converted single-family home and contains two separate residential apartments. The first-floor unit includes 2 bedrooms, 1 full bath, and an open kitchen-and-living area; it is currently tenant-occupied. Upstairs, a private entrance leads to a 1-bedroom, 1-full-bath apartment with an efficient layout.
The property is located at 29 N New St in Dover, Delaware, near shopping, dining, schools, and major commuting routes. Separate living areas and distinct unit configurations provide a straightforward two-unit residential setup.
The property is located at 29 N New St in Dover, Delaware, near shopping, dining, schools, and major commuting routes. Separate living areas and distinct unit configurations provide a straightforward two-unit residential setup.
Key Highlights
- 1,591‑square‑foot duplex in a converted single‑family home
- Two separate residential apartments
- First‑floor unit has 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,237
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,740
$344.7K
Cap Rate 7%
$246,243
$246.2K
Cap Rate 9%
$191,522
$191.5K
Market Conditions
NOI Build-Up for 1,591 SF
Gross rent
$25.8K $16.20/SF
− Vacancy
−$1.1K −$0.72/SF
EGI
$24.6K $15.48/SF
− OpEx
−$7.4K −$4.64/SF
NOI
$17.2K $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%
$344,740
Cap Rate 7%
$246,243
Cap Rate 9%
$191,522
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.5K – $287.3K
NOI $17,237 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$227.3K
$198.9K – $265.2K
NOI $15,911 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$400.6K
$350.6K – $467.4K
NOI $28,044 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,587
Businesses Nearby
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Business Placement
Demographics for 19904, DE
36,880
Population
16,047
Households
2.3
Avg Household Size
38
Median Age
27%
College-Educated
91%
High-School Grad
43.2 sq mi
ZIP Area
854
Density / Sq Mi
$66,885
Median Household Income
$39,459
Median Earnings
$1,240
Median Rent
$281,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Converted residential property with separate apartments and a currently occupied first-floor unit.
Where is this duplex located?
The property is located at 29 N NEW ST Dover, DE.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,591‑square‑foot duplex in a converted single‑family home; Two separate residential apartments; First‑floor unit has 2 bedrooms and 1 full bath
