Updated Duplex with Two
For Sale
$375,000
321 Pyramid Avenue, Claymont, DE 19703
Two separately metered apartments include dedicated laundry and garage access.
Property Size1,850 SF
Price / SF$202.70
Days on Market158
Property Features for 321 Pyramid Avenue
General Information
Standard status
Active
Size
1,850 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
NC5
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
HOA Fee
$111.25
Taxes and HOA fees
Annual Taxes
$2,950
Amenities
laundry
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1965
Buildings
1
Listing Agency:
SCOTT REALTY GROUP
(610) 636-6800
Listed By:
Christine D Hallman · License #RS229146
(610) 636-6800
Source:
Compass
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 10:11PM
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 SCOTT REALTY GROUP
Investment Insights
Based on property information with market context.
This 1,850-square-foot duplex contains two 2-bedroom, 1-bath apartments, offering a practical layout for an owner-occupant or rental operation. The full basement provides separate laundry areas for each unit and additional storage. Each apartment also has a pull-in, 1-car garage. The second-floor residence has been refreshed with refinished hardwood flooring, new paint, a modernized kitchen, and a full bath. The first-floor apartment is occupied by long-term tenants, while the upper unit is vacant.
Located in Claymont’s Brandywine Gardens, the property is near public transportation, within walking distance of the train station and Archmere, and minutes from I-95 and I-495. The apartments are separately metered, and tenants pay all utilities except sewer. An HOA provides lawn care, trash service, and snow removal. The property is zoned NC5.
Located in Claymont’s Brandywine Gardens, the property is near public transportation, within walking distance of the train station and Archmere, and minutes from I-95 and I-495. The apartments are separately metered, and tenants pay all utilities except sewer. An HOA provides lawn care, trash service, and snow removal. The property is zoned NC5.
Key Highlights
- 1,850 SF duplex with two 2‑bedroom, 1‑bath apartments
- Full basement with 1 separate laundry area for each unit and storage
- Each unit includes a pull‑in, 1‑car garage
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
$19,615
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
5.23%
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%
$392,300
$392.3K
Cap Rate 7%
$280,214
$280.2K
Cap Rate 9%
$217,944
$217.9K
Market Conditions
NOI Build-Up for 1,850 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
$30.0K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$28.0K $15.15/SF
− OpEx
−$8.4K −$4.54/SF
NOI
$19.6K $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%
$392,300
Cap Rate 7%
$280,214
Cap Rate 9%
$217,944
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$250.3K
$219.0K – $292.1K
NOI $17,523 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$442.5K
$387.2K – $516.3K
NOI $30,975 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 19703, DE
16,175
Population
7,114
Households
2.3
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,044
Density / Sq Mi
$76,328
Median Household Income
$47,688
Median Earnings
$1,305
Median Rent
$266,500
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 - Two separately metered apartments include dedicated laundry and garage access.
Where is this duplex located?
The property is located at 321 Pyramid Avenue Claymont, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,850 SF duplex with two 2‑bedroom, 1‑bath apartments; Full basement with 1 separate laundry area for each unit and storage; Each unit includes a pull‑in, 1‑car garage
