Remodeled
For Sale
$316,000
32 W North St, Smyrna, DE 19977
Fully occupied two-unit property with completed town inspections and recent mechanical updates.
Property Size2,438 SF
Price / SF$129.61
Days on Market87
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Property Features for 32 W North St
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Myers Realty
Listed By:
Albert C Leskovar Jr. · License #RS-0018925
(302) 346-3196
Source:
Diamondhomesteam
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 7 at 2:03PM
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 Myers Realty
Investment Insights
Based on property information with market context.
This 2,438-square-foot duplex, built in 1900, contains two recently remodeled residential units. Both sides are occupied, providing an existing rental setup for a new owner. A new heat pump was installed on the 30 W. North St side in winter 2025.
The property is located at 32 W North St in Smyrna, Delaware. All town of Smyrna inspections are complete, and tours require 48 hours’ notice. Current rent and lease information is available through the listing agent.
The property is located at 32 W North St in Smyrna, Delaware. All town of Smyrna inspections are complete, and tours require 48 hours’ notice. Current rent and lease information is available through the listing agent.
Key Highlights
- Two‑unit duplex with 2,438 SF of building area
- Both units recently remodeled and occupied
- New heat pump installed on 30 W. North St side in winter 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,414
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,280
$528.3K
Cap Rate 7%
$377,343
$377.3K
Cap Rate 9%
$293,489
$293.5K
Market Conditions
NOI Build-Up for 2,438 SF
Gross rent
$39.5K $16.20/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$37.7K $15.48/SF
− OpEx
−$11.3K −$4.64/SF
NOI
$26.4K $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%
$528,280
Cap Rate 7%
$377,343
Cap Rate 9%
$293,489
Alternative Uses
Best Use
Multifamily LT 5
$377.3K
$330.2K – $440.2K
NOI $26,414 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$348.3K
$304.8K – $406.4K
NOI $24,382 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$613.9K
$537.2K – $716.2K
NOI $42,973 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Explore this area
Business Placement
Demographics for 19977, DE
27,505
Population
9,899
Households
2.8
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
83.1 sq mi
ZIP Area
331
Density / Sq Mi
$78,803
Median Household Income
$48,246
Median Earnings
$1,366
Median Rent
$311,800
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 - Fully occupied two-unit property with completed town inspections and recent mechanical updates.
Where is this duplex located?
The property is located at 32 W North St Smyrna, DE.
What is the asking price?
The asking price for this property is $316,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,438 SF of building area; Both units recently remodeled and occupied; New heat pump installed on 30 W. North St side in winter 2025
