Duplex with Private Rear
For Sale
$299,999
623 Concord Ave, Wilmington, DE 19802
Two units provide separate laundry facilities and outdoor deck space for residential use.
Property Size1,675 SF
Price / SF$179.10
Days on Market90
Property Features for 623 Concord Ave
General Information
Standard status
Active
Size
1,675 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit washer and dryer
private rear decks
Building Details
Year Built
1920
Listing Agency:
EXP Realty, LLC
Listed By:
Brandon L Jones · License #RS-0022985
(302) 420-5930
Source:
Burkhart
Added: Jul 20
Changed: Oct 14
Last Checked: Oct 7 at 2:06PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,675-square-foot duplex, built in 1920, contains two distinct residential units. The smaller unit has 1 bedroom and 1 full bathroom, while the larger offers 2 bedrooms and 1 full bathroom. Both residences include in-unit washer and dryer appliances, along with private rear decks that extend the usable living area outdoors.
The property is located at 623 Concord Ave in Wilmington, Delaware, near shopping, dining, schools, parks, and major commuter routes. The offering is being sold as is, providing a two-unit configuration with varied bedroom counts and separate outdoor spaces.
The property is located at 623 Concord Ave in Wilmington, Delaware, near shopping, dining, schools, parks, and major commuter routes. The offering is being sold as is, providing a two-unit configuration with varied bedroom counts and separate outdoor spaces.
Key Highlights
- Two‑unit duplex with 1,675 SF of building area
- Unit mix includes 1 bedroom/1 full bathroom and 2 bedrooms/1 full bathroom
- Each unit has its own in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,760
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,200
$355.2K
Cap Rate 7%
$253,714
$253.7K
Cap Rate 9%
$197,333
$197.3K
Market Conditions
NOI Build-Up for 1,675 SF
Gross rent
$27.1K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$25.4K $15.15/SF
− OpEx
−$7.6K −$4.54/SF
NOI
$17.8K $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%
$355,200
Cap Rate 7%
$253,714
Cap Rate 9%
$197,333
Alternative Uses
Best Use
Multifamily LT 5
$253.7K
$222.0K – $296.0K
NOI $17,760 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$226.6K
$198.3K – $264.4K
NOI $15,865 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$400.6K
$350.6K – $467.4K
NOI $28,045 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
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?
Duplex - Two units provide separate laundry facilities and outdoor deck space for residential use.
Where is this duplex located?
The property is located at 623 Concord Ave Wilmington, DE.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Two‑unit duplex with 1,675 SF of building area; Unit mix includes 1 bedroom/1 full bathroom and 2 bedrooms/1 full bathroom; Each unit has its own in‑unit washer and dryer
