End-Unit Duplex with
For Sale
$260,000
600 Homestead Rd, Wilmington, DE 19805
Two residential units feature separate utility service, window A/C, and individual one-car garages.
Property Size1,575 SF
Price / SF$165.08
Days on Market42
Property Features for 600 Homestead Rd
General Information
Standard status
Active
Size
1,575 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Home Realty
(302) 266-7544
Listed By:
Michael Hunter · License #RB-0002727
Source:
Burkhart
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 6:54PM
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 Home Realty
Investment Insights
Based on property information with market context.
This end-unit duplex contains 1,575 square feet and was built in 1965. Each residence includes a one-car garage, while separate water and electric service supports independent utility management. Window A/C units provide cooling for both units, and the property includes a side yard.
Located at 600 Homestead Rd in Wilmington, Delaware, the property offers a two-unit residential configuration suitable for an owner-occupant or separate occupancy of both units.
Located at 600 Homestead Rd in Wilmington, Delaware, the property offers a two-unit residential configuration suitable for an owner-occupant or separate occupancy of both units.
Key Highlights
- 1,575‑square‑foot duplex built in 1965
- End‑unit configuration with side yard
- Separate water and electric service for each unit
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
$16,700
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
6.42%
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%
$334,000
$334.0K
Cap Rate 7%
$238,571
$238.6K
Cap Rate 9%
$185,556
$185.6K
Market Conditions
NOI Build-Up for 1,575 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
$25.5K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$23.9K $15.15/SF
− OpEx
−$7.2K −$4.54/SF
NOI
$16.7K $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%
$334,000
Cap Rate 7%
$238,571
Cap Rate 9%
$185,556
Alternative Uses
Best Use
Multifamily LT 5
$238.6K
$208.8K – $278.3K
NOI $16,700 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$213.1K
$186.5K – $248.6K
NOI $14,918 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$376.7K
$329.6K – $439.5K
NOI $26,371 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
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 residential units feature separate utility service, window A/C, and individual one-car garages.
Where is this duplex located?
The property is located at 600 Homestead Rd Wilmington, DE.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,575‑square‑foot duplex built in 1965; End‑unit configuration with side yard; Separate water and electric service for each unit
