Duplex with Detached Two-Car
For Sale
$425,000
310 Silverbrook Dr, Wilmington, DE 19804
Permitted two-unit residence with separate laundry areas and additional detached garage space.
Property Size1,425 SF
Price / SF$298.25
Days on Market43
Property Features for 310 Silverbrook Dr
General Information
Standard status
Active
Size
1,425 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1956
Buildings
2
Construction
Cape Cod
Listing Agency:
RE/MAX Associates - Newark
(302) 530-5515
Listed By:
Joseph W Berchock · License #R3-0009070
Source:
Burkhart
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 30 at 8:15PM
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 RE/MAX Associates - Newark
Investment Insights
Based on property information with market context.
This Cape Cod-style duplex contains two permitted residential units, each arranged with two bedrooms and one full bathroom. The first-floor unit includes access to a full basement with private laundry, while the second-floor unit has its own entrance and a dedicated laundry area. The property also includes a detached two-car garage divided by a full partition wall and equipped with electric service.
Built in 1956, the residence provides 1,425 square feet of property size and is located in Wilmington, Delaware. The home is offered in as-is, where-is condition. The garage configuration includes two separate spaces, allowing the building’s accessory storage or parking capacity to be managed independently.
Built in 1956, the residence provides 1,425 square feet of property size and is located in Wilmington, Delaware. The home is offered in as-is, where-is condition. The garage configuration includes two separate spaces, allowing the building’s accessory storage or parking capacity to be managed independently.
Key Highlights
- Two permitted residential units, each with 2 bedrooms and 1 full bathroom
- 1,425 square feet of property size
- Detached 2‑car garage with full partition wall and electric
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,109
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,180
$302.2K
Cap Rate 7%
$215,843
$215.8K
Cap Rate 9%
$167,878
$167.9K
Market Conditions
NOI Build-Up for 1,425 SF
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.
Gross rent
$23.1K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$21.6K $15.15/SF
− OpEx
−$6.5K −$4.54/SF
NOI
$15.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,180
Cap Rate 7%
$215,843
Cap Rate 9%
$167,878
Alternative Uses
Best Use
Multifamily LT 5
$215.8K
$188.9K – $251.8K
NOI $15,109 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$192.8K
$168.7K – $225.0K
NOI $13,497 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 19804, DE
18,292
Population
8,075
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
7.2 sq mi
ZIP Area
2,541
Density / Sq Mi
$76,204
Median Household Income
$44,897
Median Earnings
$1,157
Median Rent
$244,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Permitted two-unit residence with separate laundry areas and additional detached garage space.
Where is this duplex located?
The property is located at 310 Silverbrook Dr Wilmington, DE.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two permitted residential units, each with 2 bedrooms and 1 full bathroom; 1,425 square feet of property size; Detached 2‑car garage with full partition wall and electric
