Brick Triplex with Detached
New
For Sale
$375,000
617 W 9TH Street, Wilmington, DE 19801
Multi-Family, WILMINGTON, DE
Property Size1,750 SF
Lot Size0.04 Acres
Price / SF$214.29
Days on Market2
Property Features for 617 W 9TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Subdivision
WILMINGTON
Elementary school
STUBBS
High school
CHRISTIANA
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
1,750 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3038
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Amenities
garage
back yard
Building Details
Year built
1890
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 543-4829
Listed By:
Erik Bashford · License #RS-0020681
(302) 540-8048
Added: Sep 3
Last Checked: Sep 4 at 7:06AM
MLS# DENC2110478
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-of-row townhouse in Wilmington is configured as a triplex with 1,750 square feet of interior space. Built in 1890, the property features brick construction, three residential units, a detached garage, a basement, and a modest 0.04-acre lot with a backyard. The garage provides additional enclosed space, while the compact parcel limits exterior upkeep.
Located at 617 W 9TH Street in Wilmington, Delaware, the property offers on-street parking. Building systems include electric heating with baseboard units and window-unit cooling. The property is offered as a residential income asset with three separate units within an established townhouse structure.
Located at 617 W 9TH Street in Wilmington, Delaware, the property offers on-street parking. Building systems include electric heating with baseboard units and window-unit cooling. The property is offered as a residential income asset with three separate units within an established townhouse structure.
Key Highlights
- Three‑unit triplex configuration
- 1,750 square feet of property size
- 0.04‑acre lot with backyard
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
$18,555
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
4.95%
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%
$371,100
$371.1K
Cap Rate 7%
$265,071
$265.1K
Cap Rate 9%
$206,167
$206.2K
Market Conditions
NOI Build-Up for 1,750 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
$28.4K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.5K $15.15/SF
− OpEx
−$8.0K −$4.54/SF
NOI
$18.6K $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%
$371,100
Cap Rate 7%
$265,071
Cap Rate 9%
$206,167
Alternative Uses
Best Use
Multifamily LT 5
$265.1K
$231.9K – $309.3K
NOI $18,555 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$236.8K
$207.2K – $276.3K
NOI $16,576 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,301 @ 7.0% cap · market cap 7.81%
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
6,717
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with a basement, electric baseboard heat, and window-unit cooling.
Where is this triplex located?
The property is located at 617 W 9TH Street Wilmington, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; 1,750 square feet of property size; 0.04‑acre lot with backyard
