Residential Income Property with
For Sale
$267,000
7 ROCKFORD ROAD Unit C014, Wilmington, DE 19806
An updated two-bedroom residence offers dual covered balconies, two full baths and shared pool and fitness amenities.
Property Size1,121 SF
Price / SF$238.18
Days on Market51
Property Features for 7 ROCKFORD ROAD Unit C014
General Information
Standard status
Active
Size
1,121 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,407
Amenities
pool
fitness room
Building Details
Building Size
1,121 SF
Year Built
1969
Listing Agency:
Real Broker, LLC
Listed By:
David R Sordelet · License #RB-0031238
(302) 613-4228
Source:
Harrisonpropertiesltd
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 26 at 4:07PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 1,121-square-foot residence in Rockford Towers was built in 1969 and has two bedrooms, two full bathrooms and two covered balconies. The living and dining areas connect with a renovated kitchen featuring granite counters, a center island, white cabinetry, stainless-steel appliances and tile backsplash. The primary suite includes a walk-in closet and private bath with a tiled walk-in shower; the second bedroom is served by a separate full bath. Exterior storage is also included.
Rockford Park, with more than 100 acres of green space and walking paths, is next door. The Delaware Art Museum is nearby, as are Trolley Square and the shops and restaurants around Pennsylvania Avenue and Union Street. Downtown Wilmington, Greenville, I-95 and the Wilmington Amtrak/SEPTA station are accessible from the property. Community amenities include an outdoor swimming pool and fitness room.
Rockford Park, with more than 100 acres of green space and walking paths, is next door. The Delaware Art Museum is nearby, as are Trolley Square and the shops and restaurants around Pennsylvania Avenue and Union Street. Downtown Wilmington, Greenville, I-95 and the Wilmington Amtrak/SEPTA station are accessible from the property. Community amenities include an outdoor swimming pool and fitness room.
Key Highlights
- Two‑bedroom, two‑bath residence with 1,121 square feet
- Two separate covered balconies and additional exterior storage
- Kitchen with granite countertops, center island and stainless‑steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,618
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,360
$212.4K
Cap Rate 7%
$151,686
$151.7K
Cap Rate 9%
$117,978
$118.0K
Market Conditions
NOI Build-Up for 1,121 SF
Gross rent
$20.6K $18.36/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$19.3K $17.22/SF
− OpEx
−$8.7K −$7.75/SF
NOI
$10.6K $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%
$212,360
Cap Rate 7%
$151,686
Cap Rate 9%
$117,978
Alternative Uses
Best Use
Apartment 5plus
$151.7K
$132.7K – $177.0K
NOI $10,618 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
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
Frequently Asked Questions
What type of property is this?
Residential income property - An updated two-bedroom residence offers dual covered balconies, two full baths and shared pool and fitness amenities.
Where is this residential income property located?
The property is located at 7 ROCKFORD ROAD Unit C014 Wilmington, DE.
What is the asking price?
The asking price for this property is $267,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with 1,121 square feet; Two separate covered balconies and additional exterior storage; Kitchen with granite countertops, center island and stainless‑steel appliances
