Residential Condominium with
For Sale
$217,900
7 ROCKFORD ROAD Unit F1, Wilmington, DE 19806
The unit includes shared laundry, an on-site exercise room and association-provided water, sewer, heat and basic cable.
Property Size970 SF
Price / SF$224.64
Days on Market45
Property Features for 7 ROCKFORD ROAD Unit F1
General Information
Standard status
Active
Size
970 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,663
Amenities
private balcony
stainless steel appliances
upgraded cabinets
walk in closet
tile shower
laminate and tile floors
freshly painted
extra storage closet
laundry in building
exercise room
pet friendly
Building Details
Building Size
970 SF
Year Built
1969
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Karla G Saffos · License #RS-0023518
(302) 373-8656
Source:
Harrisonpropertiesltd
Added: Sep 17
Changed: Oct 27
Last Checked: Oct 26 at 3:51PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 970-square-foot residential condominium, built in 1969, has a living and dining area, two bedrooms and two bathrooms. Sliding doors open to a private balcony with a separate outdoor storage closet. The kitchen features stainless steel appliances and upgraded cabinets; laminate and tile flooring run throughout. The primary suite includes a walk-in closet and tiled shower. The unit was freshly painted, and its AC/furnace system is five years old.
The building has shared laundry and an exercise room. The pet-friendly condominium association’s monthly fee covers maintenance of common areas and landscaping, water, sewer, heat, basic cable, trash service and snow removal. Rockford Park, Trolley Square, the Delaware Art Museum, Alapocas Trail, restaurants and shops are within walking distance.
The building has shared laundry and an exercise room. The pet-friendly condominium association’s monthly fee covers maintenance of common areas and landscaping, water, sewer, heat, basic cable, trash service and snow removal. Rockford Park, Trolley Square, the Delaware Art Museum, Alapocas Trail, restaurants and shops are within walking distance.
Key Highlights
- 970‑square‑foot condominium unit with a private balcony and separate outdoor storage
- Two bedrooms and two bathrooms, including a primary suite with walk‑in closet and tiled shower
- Stainless steel kitchen appliances, upgraded cabinets, and laminate and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,188
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,760
$183.8K
Cap Rate 7%
$131,257
$131.3K
Cap Rate 9%
$102,089
$102.1K
Market Conditions
NOI Build-Up for 970 SF
Gross rent
$17.8K $18.36/SF
− Vacancy
−$1.1K −$1.14/SF
EGI
$16.7K $17.22/SF
− OpEx
−$7.5K −$7.75/SF
NOI
$9.2K $9.47/SF
Area
New Castle County, DE
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,760
Cap Rate 7%
$131,257
Cap Rate 9%
$102,089
Alternative Uses
Best Use
Apartment 5plus
$131.3K
$114.9K – $153.1K
NOI $9,188 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$232.0K
$203.0K – $270.7K
NOI $16,241 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
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Business Placement
Demographics for 19806, DE
10,083
Population
6,638
Households
1.5
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
1.7 sq mi
ZIP Area
5,931
Density / Sq Mi
$86,240
Median Household Income
$76,246
Median Earnings
$1,329
Median Rent
$370,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes shared laundry, an on-site exercise room and association-provided water, sewer, heat and basic cable.
Where is this residential income property located?
The property is located at 7 ROCKFORD ROAD Unit F1 Wilmington, DE.
What is the asking price?
The asking price for this property is $217,900.
What are key features of this property?
This property features: 970‑square‑foot condominium unit with a private balcony and separate outdoor storage; Two bedrooms and two bathrooms, including a primary suite with walk‑in closet and tiled shower; Stainless steel kitchen appliances, upgraded cabinets, and laminate and tile flooring
