End-Unit Duplex with
For Sale
$260,000
600 HOMESTEAD Road, Wilmington, DE 19805
Multi-Family, WILMINGTON, DE
Property Size1,575 SF
Lot Size0.19 Acres
Price / SF$165.08
Days on Market59
Property Features for 600 HOMESTEAD Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Garage - Attached
Appliances
Refrigerator
Subdivision
ALBAN PARK
Elementary school
RICHARDSON PARK
High school
DICKINSON
Elementary school district
RED CLAY CONSOLIDATED
Middle school district
RED CLAY CONSOLIDATED
High school district
RED CLAY CONSOLIDATED
Standard status
Active
Size
1,575 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2434
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
side yard
window A/C units
Building Details
Year built
1965
Number of units
2
Building materials
Brick, Asbestos
Architectural style
Other
Listing Agency:
Home Realty
(302) 266-7544
Listed By:
Michael Hunter · License #RB-0002727
(302) 690-4144
Added: Jul 7
Changed: Sep 2
Last Checked: Sep 3 at 2:06PM
MLS# DENC2106398
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.
Investment Insights
Based on property information with market context.
This end-unit duplex contains 1,575 square feet within a two-unit configuration and sits on a 0.19-acre lot. The property was built in 1965 with brick and asbestos construction materials, forced-air heating, and window-unit cooling. Each unit includes an attached one-car garage, while a side yard provides additional exterior space. Refrigerator appliances are included.
Separate water and electric service is provided for each unit, supporting distinct utility arrangements. The property is located at 600 Homestead Road in Wilmington, Delaware, within New Castle County and ZIP Code 19805.
Separate water and electric service is provided for each unit, supporting distinct utility arrangements. The property is located at 600 Homestead Road in Wilmington, Delaware, within New Castle County and ZIP Code 19805.
Key Highlights
- Duplex property with 1,575 square feet of building area
- 0.19‑acre lot with end‑unit positioning and a 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate water and electric service and attached garage parking for each unit.
Where is this duplex located?
The property is located at 600 HOMESTEAD Road 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: Duplex property with 1,575 square feet of building area; 0.19‑acre lot with end‑unit positioning and a side yard; Separate water and electric service for each unit
