Brick Triplex With Separate
New
For Sale
$625,000
4503 WELDIN ROAD, Wilmington, DE 19803
Three individually serviced residences include a sunroom, covered porch, and basement laundry and storage.
Property Size2,525 SF
Lot Size0.53 Acres
Price / SF$247.52
Days on Market5
Property Features for 4503 WELDIN ROAD
General Information
Standard status
Active
Size
2,525 SF
Lot size
0.53 Acres
Property subtype
Triplex
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1928
Buildings
1
Construction
brick Colonial
Listing Agency:
Long & Foster Real Estate, Inc.
(302) 753-9178
Listed By:
Margaret Colman
(302) 753-9178
Source:
Cummingsrealtors
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 5:38AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1928 brick Colonial is configured as a triplex on approximately 0.53 acres. The property contains three one-bedroom, one-bath residences, each with its own entrance and separate electrical service. The main-level unit provides single-level living, a sunroom, and private basement access to laundry and storage. Two additional residences occupy the upper level and are accessed from a covered porch; one spans two levels, while the other is arranged on a single floor.
Located at 4503 Weldin Road in Wilmington, Delaware, the property is near established neighborhoods, shopping, dining, North Wilmington amenities, and major roadways. The expansive lot adds outdoor separation, while the brick exterior and porch contribute to the property's existing character. The property is being sold in AS IS condition.
Located at 4503 Weldin Road in Wilmington, Delaware, the property is near established neighborhoods, shopping, dining, North Wilmington amenities, and major roadways. The expansive lot adds outdoor separation, while the brick exterior and porch contribute to the property's existing character. The property is being sold in AS IS condition.
Key Highlights
- Three‑unit configuration with three 1‑bedroom, 1‑bath residences
- Each unit has a separate entrance and separate electrical service
- Approximately 0.53 acres with an expansive lot
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
$26,772
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
4.28%
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%
$535,440
$535.4K
Cap Rate 7%
$382,457
$382.5K
Cap Rate 9%
$297,467
$297.5K
Market Conditions
NOI Build-Up for 2,525 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
$40.9K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.2K $15.15/SF
− OpEx
−$11.5K −$4.54/SF
NOI
$26.8K $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%
$535,440
Cap Rate 7%
$382,457
Cap Rate 9%
$297,467
Alternative Uses
Best Use
Multifamily LT 5
$382.5K
$334.7K – $446.2K
NOI $26,772 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.6K
NOI $23,917 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$604.0K
$528.5K – $704.6K
NOI $42,277 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 19803, DE
21,886
Population
8,900
Households
2.5
Avg Household Size
47
Median Age
61%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
1,723
Density / Sq Mi
$133,941
Median Household Income
$73,611
Median Earnings
$1,736
Median Rent
$436,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three individually serviced residences include a sunroom, covered porch, and basement laundry and storage.
Where is this triplex located?
The property is located at 4503 WELDIN ROAD Wilmington, DE.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑unit configuration with three 1‑bedroom, 1‑bath residences; Each unit has a separate entrance and separate electrical service; Approximately 0.53 acres with an expansive lot
