Turnkey Duplex Income
394 Denny Street Leipsic, DE 19901
For Sale
$299,000
Well-maintained duplex with two 2-bedroom, 1-bath units, separate utilities, and leased income through 2027.
Property Size1,742 SF
Price / SF$171.64
Days on Market44
Property Features for 394 Denny Street
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1940
Listing Agency:
Crown Homes Real Estate
(302) 584-1732
Listed By:
John Ricardo Brown · License #RS00400312
(302) 584-1732
Source:
Compass
Added: Jun 15
Changed: Jul 21
Last Checked: Jul 27 at 1:26PM
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 Crown Homes Real Estate
Investment Insights
Based on property information with market context.
This turnkey duplex offers two separate 2-bedroom, 1-bath units. Each unit is separately metered for utilities, and the property is described as having well water. Updates include newer windows in both units, updated flooring and paint, and updated appliances.
Unit A includes a private driveway and is leased through January 2027. Unit B is leased through March 2027. The property also notes a 3-year-old propane furnace serving Unit A.
Set in Kent County in the MLS Area Capital, the duplex is located outside city limits. The location is described as convenient to Dover and the AFB, Route 1, local employers, and Delaware coastal attractions.
Unit A includes a private driveway and is leased through January 2027. Unit B is leased through March 2027. The property also notes a 3-year-old propane furnace serving Unit A.
Set in Kent County in the MLS Area Capital, the duplex is located outside city limits. The location is described as convenient to Dover and the AFB, Route 1, local employers, and Delaware coastal attractions.
Key Highlights
- Duplex built in 1940 with two 2‑bedroom, 1‑bath units totaling approx. 1,742 SF
- Unit A approx. 800 SF with private driveway, leased for $1,225/month through January 2027
- Unit B approx. 800 SF, leased for $1,225/month through March 2027
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 | $28.2k | $16.20 |
| − Vacancy | −$1.3k | −$0.72 |
| EGI | $27.0k | $15.48 |
| − OpEx | −$8.1k | −$4.64 |
| NOI | $18.9k | $10.83 |
1,742 SF · lease $16.20/SF/yr · vacancy 4.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$269.6K
$235.9K – $314.6K
NOI $18,873 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$248.9K
$217.8K – $290.4K
NOI $17,421 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$438.6K
$383.8K – $511.8K
NOI $30,705 @ 7.0% cap · market cap 10.27%
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 - Well-maintained duplex with two 2-bedroom, 1-bath units, separate utilities, and leased income through 2027.
Where is this duplex located?
The property is located at 394 Denny Street Leipsic, DE.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex built in 1940 with two 2‑bedroom, 1‑bath units totaling approx. 1,742 SF; Unit A approx. 800 SF with private driveway, leased for $1,225/month through January 2027; Unit B approx. 800 SF, leased for $1,225/month through March 2027
