Brick Triplex With Separate
For Sale
$350,000
600 W 5TH Street, Wilmington, DE 19801
Multi-Family, WILMINGTON, DE
Property Size2,775 SF
Lot Size0.04 Acres
Price / SF$126.13
Days on Market100
Property Features for 600 W 5TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Interior features
Sprinkler System
High school
CHRISTIANA
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
2,775 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2715
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1890
Number of units
3
Building materials
Brick
Listing Agency:
Home Realty
(302) 266-7544
Listed By:
Michael Hunter · License #RB-0002727
(302) 690-4144
Added: Jul 9
Changed: Aug 24
Last Checked: Oct 16 at 3:06AM
MLS# DENC2106736
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.
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Investment Insights
Based on property information with market context.
This 2,775-square-foot brick triplex was built in 1890 and contains three residential units, each with two bedrooms and one bathroom. Gas hot water and electric service are separately metered for every unit. The property also includes a garage, a basement, forced-air heating, window-unit cooling, and on-street parking. A central sprinkler system and hard-wired smoke and carbon monoxide detectors are installed throughout the building.
The property is located at 600 W 5th Street in Wilmington, Delaware, within walking distance of Downtown Wilmington, the Business District, and the Wilmington Riverfront. The City of Wilmington business license is current for all rental units. The 0.04-acre property is identified in New Castle County and carries a 19801 postal code.
The property is located at 600 W 5th Street in Wilmington, Delaware, within walking distance of Downtown Wilmington, the Business District, and the Wilmington Riverfront. The City of Wilmington business license is current for all rental units. The 0.04-acre property is identified in New Castle County and carries a 19801 postal code.
Key Highlights
- Three 2‑bedroom, 1‑bathroom residential units
- 2,775‑square‑foot brick building constructed in 1890
- Separate gas hot water and electric systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,423
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,460
$588.5K
Cap Rate 7%
$420,329
$420.3K
Cap Rate 9%
$326,922
$326.9K
Market Conditions
NOI Build-Up for 2,775 SF
Gross rent
$45.0K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$42.0K $15.15/SF
− OpEx
−$12.6K −$4.54/SF
NOI
$29.4K $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 Rate 5%
$588,460
Cap Rate 7%
$420,329
Cap Rate 9%
$326,922
Alternative Uses
Best Use
Multifamily LT 5
$420.3K
$367.8K – $490.4K
NOI $29,423 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,285 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$663.8K
$580.8K – $774.4K
NOI $46,463 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with individual gas hot water and electric service, plus a central sprinkler system.
Where is this triplex located?
The property is located at 600 W 5TH Street Wilmington, DE.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bathroom residential units; 2,775‑square‑foot brick building constructed in 1890; Separate gas hot water and electric systems for each unit
