Renovated Quadplex: Investor
For Sale
$799,900
62 W CHURCH ST, Selbyville, DE 19975
Extensively renovated quadplex with strong income potential in high-demand rental market.
Property Size2,500 SF
Price / SF$319.96
Days on Market189
Property Features for 62 W CHURCH ST
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-family
Listing Agency:
Coldwell Banker Premier - Lewes
(302) 645-2881
Listed By:
Julie Gritton · License #RA-0031139
(302) 645-1111
Source:
Towncentermd
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 28 at 8:25AM
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 Coldwell Banker Premier - Lewes
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Investment Insights
Based on property information with market context.
This quadplex presents an investment opportunity with projected rents estimated at $1,350–$1,650 per unit. The property has been extensively renovated, featuring upgrades to major systems, including a new foundation, all-new plumbing and electrical, a sprinkler system, and a full alarm system. The roof was replaced within the last five years. The building utilizes public water and sewer. Each unit has been renovated inside and out, featuring fresh paint, updated flooring, modern appliances, and refreshed finishes throughout. Dedicated parking is available for each unit. A garage and shed are included with the property. The location has a bike score of 44, indicating it is somewhat bikeable, and a walk score of 21, indicating car-dependence.
Key Highlights
- High Income Potential: Projected rents of $1,350–$1,650 per unit offers strong cash flow.
- Extensive Recent Renovations: Includes new foundation, plumbing, electrical, sprinkler system, and alarm system.
- Low Maintenance: New/updated systems and roof (replaced within the last five years) ensure reduced maintenance and operating costs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,507
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,140
$530.1K
Cap Rate 7%
$378,671
$378.7K
Cap Rate 9%
$294,522
$294.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$40.5K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.9K $15.15/SF
− OpEx
−$11.4K −$4.54/SF
NOI
$26.5K $10.60/SF
Area
Sussex 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%
$530,140
Cap Rate 7%
$378,671
Cap Rate 9%
$294,522
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$350.8K
$307.0K – $409.3K
NOI $24,558 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$687.0K
$601.1K – $801.5K
NOI $48,090 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
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Business Placement
Demographics for 19975, DE
10,476
Population
8,890
Households
1.2
Avg Household Size
60
Median Age
39%
College-Educated
94%
High-School Grad
25.5 sq mi
ZIP Area
411
Density / Sq Mi
$86,063
Median Household Income
$41,090
Median Earnings
$1,098
Median Rent
$430,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Extensively renovated quadplex with strong income potential in high-demand rental market.
Where is this quadplex located?
The property is located at 62 W CHURCH ST Selbyville, DE.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: High Income Potential: Projected rents of $1,350–$1,650 per unit offers strong cash flow.; Extensive Recent Renovations: Includes new foundation, plumbing, electrical, sprinkler system, and alarm system.; Low Maintenance: New/updated systems and roof (replaced within the last five years) ensure reduced maintenance and operating costs.
