Renovated Triplex in Triangle
For Sale
$550,000
Pending
709 W 19TH St, Wilmington, DE 19802
Updated triplex in Wilmington's Triangle District, ideal for investors.
Property Size2,175 SF
Days on Market140
Property Features for 709 W 19TH St
General Information
Standard status
Pending
Size
2,175 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,080
Building Details
Building Size
2,175 SF
Year Built
1921
Units
3
Listing Agency:
Long & Foster Real Estate, Inc.
(302) 740-6529
Listed By:
Buzz Moran · License #R3-0016411
(302) 740-6529
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 30 at 9:35PM
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.
Investment Insights
Based on property information with market context.
This renovated triplex is located in the desirable Triangle District of Wilmington. The well-maintained multi-family property features three updated units. Each unit showcases remodeled kitchens with new cabinetry, quartz countertops, stainless steel appliances, tile backsplashes, and modern fixtures. Refinished hardwood floors run throughout each unit, complemented by fresh interior paint. The property offers strong rental potential. It is ideally located with convenient access to I-95, Salesianum School, and all the dining, shopping, and amenities Wilmington has to offer. The property presents a turnkey opportunity for both investors and owner-occupants.
Key Highlights
- Turnkey triplex in the desirable Triangle District of Wilmington.
- Three updated units with remodeled kitchens featuring quartz countertops and stainless steel appliances.
- Refinished hardwood floors and fresh paint throughout each unit.
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
$23,061
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
4.19%
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%
$461,220
$461.2K
Cap Rate 7%
$329,443
$329.4K
Cap Rate 9%
$256,233
$256.2K
Market Conditions
NOI Build-Up for 2,175 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
$35.2K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.9K $15.15/SF
− OpEx
−$9.9K −$4.54/SF
NOI
$23.1K $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%
$461,220
Cap Rate 7%
$329,443
Cap Rate 9%
$256,233
Alternative Uses
Best Use
Multifamily LT 5
$329.4K
$288.3K – $384.4K
NOI $23,061 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$294.3K
$257.5K – $343.4K
NOI $20,601 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$520.2K
$455.2K – $607.0K
NOI $36,417 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,685
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
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 - Updated triplex in Wilmington's Triangle District, ideal for investors.
Where is this triplex located?
The property is located at 709 W 19TH St Wilmington, DE.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Turnkey triplex in the desirable Triangle District of Wilmington.; Three updated units with remodeled kitchens featuring quartz countertops and stainless steel appliances.; Refinished hardwood floors and fresh paint throughout each unit.
