Two-Unit Duplex with
421 S WASHINGTON STREET Milford, DE 19963
New
421 S WASHINGTON STREET, Milford, DE, 19963
$324,900
For Sale
$324,900
Side-by-side two-story duplex with 3BR units, new carpet and paint, and private storage sheds plus alley-access driveways.
Property Size2,384 SF
Price / SF$136.28
Days on Market7
Property Features for 421 S WASHINGTON STREET
General Information
- Standard status
- Active
- Size
- 2,384 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1894
Listing agency
Coldwell Banker Premier - Milford
(302) 542-7051
Listed by
Ken W Wolfe · License #RS-0013804
(302) 542-7051
Source
Cummingsrealtors
Added: Jul 15 Updated: Jul 21 at 7:16AM Checked: Jul 21 at 7:16AM
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 Coldwell Banker Premier - Milford
Investment Insights
Based on property information with market context.
This side-by-side, two-story duplex includes two separate units. Unit 421 offers 3 bedrooms and 1 bathroom, while unit 421 1/2 offers 3 bedrooms and 2 bathrooms. Recent updates include new carpet and paint in both units. Utilities and services noted for the property include oil FHA heat (no AC), propane hot water, and city water and sewer, along with electric and trash service. Each unit also includes its own storage shed, and both have driveway access off an alley behind the property.
The property is located in town Milford at 421 S Washington Street in Milford, DE. The duplex has operated as an active rental, with both sides leased through 2026.
Each unit is separately configured with bedroom and bathroom counts as described above, and the property provides practical exterior storage and alley-behind vehicle access via driveway.
The property is located in town Milford at 421 S Washington Street in Milford, DE. The duplex has operated as an active rental, with both sides leased through 2026.
Each unit is separately configured with bedroom and bathroom counts as described above, and the property provides practical exterior storage and alley-behind vehicle access via driveway.
Key Highlights
- Side‑by‑side 2‑story duplex in town of Milford built in 1894
- Both units are leased through 2026
- 421: 3BR/1BA with new carpet and paint
Local 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 | $38.6k | $16.20 |
| − Vacancy | −$2.5k | −$1.05 |
| EGI | $36.1k | $15.15 |
| − OpEx | −$10.8k | −$4.54 |
| NOI | $25.3k | $10.60 |
2,384 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$361.1K
$316.0K – $421.3K
NOI $25,277 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$334.5K
$292.7K – $390.3K
NOI $23,418 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$655.1K
$573.2K – $764.3K
NOI $45,859 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Side-by-side two-story duplex with 3BR units, new carpet and paint, and private storage sheds plus alley-access driveways.
Where is this duplex located?
The property is located at 421 S WASHINGTON STREET Milford, DE.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Side‑by‑side 2‑story duplex in town of Milford built in 1894; Both units are leased through 2026; 421: 3BR/1BA with new carpet and paint
