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    Detached Triplex with Garage Title is generated by Realmo AI

    400 W 21ST Street, Wilmington, DE 19802

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    For Sale
    $325,000

    MULTI_FAMILY - Colonial - WILMINGTON, DE

    Property size:
    2,900 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $112/SF
    Added:
    Mar 17, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 400 W 21ST Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    3
    Parking features
    On Street, Garage - Attached, Driveway, Off Street
    Interior features
    Bathroom - Tub Shower
    Standard status
    Active
    Size
    2,900 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5402

    Utilities

    Heating system
    Hot Water(Heating)

    Building Details

    Year built
    1919
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Marc Pollak
    Marc Pollak

    Listing agent Marc Pollak License #RS-0025450

    Listing office Empower Real Estate, LLC 111 W Continental Drive unit: Suite 305, Newark, DE

    Listing date Mar 17, 2026

    MLS# DENC2098218 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully detached triplex with 3 total units—two 2‑bedroom apartments plus one 1‑bedroom unit
    • Colonial‑style brick building built in 1919
    • Hot water (heating) system
    • Attached garage plus driveway and off‑street parking
    • Bathroom features include tub/shower

    Overview

    This fully detached triplex includes three residential units: two apartments with two bedrooms each, and a third unit with one bedroom. The property is presented as a residential income opportunity and includes a garage that could be cleaned out and improved for additional rental or storage use. The home also has a basement, which the listing notes as a place where laundry could be added.

    The property is located in Wilmington, Delaware, in New Castle County, and is identified as 400 W 21st Street (19802). The listing describes the area as part of the historic section of the city and references proximity to dining, nightlife, and parks, which may be helpful context for prospective occupants.

    With a mix of two-bedroom and one-bedroom layouts, the tenant mix can be aligned to different household needs within the same building. Buyers looking to live in one unit while renting the other two may find the existing unit configuration practical. For investors or owner-occupants, the garage and basement present options to expand functionality and potentially support additional monthly income through further improvements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.54383
    Latitude
    39.75597

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    FAQs

    What type of property is this?
    Triplex - Fully detached triplex with two 2-bedroom units and one 1-bedroom unit, plus a garage for potential added utility.
    Where is this triplex located?
    The property is located at 400 W 21ST Street Wilmington, DE.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Fully detached triplex with 3 total units—two 2‑bedroom apartments plus one 1‑bedroom unit; Colonial‑style brick building built in 1919; Hot water (heating) system
    (302) 464-8880
    We can help!
    Listing Contact
    Marc Pollak
    Marc Pollak
    Real Estate License ID: RS-0025450
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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