Colonial Residential Income
For Sale
$279,000
715 W 8th St, Wilmington, DE 19801
Colonial residential income property with on-street access and electric in-unit appliances, including a microwave and range.
Property Size1,750 SF
Price / SF$159.43
Days on Market120
Property Features for 715 W 8th St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Residential Income
Zoning
26R-3
Taxes and HOA fees
Annual Taxes
$3,059
Amenities
Ceiling Fan(s)
Baseboard, Electric
Partial
Microwave, Electric Oven, Electric Range, Electric Water Heater
On Street
Colonial
Building Details
Building Size
1,750 SF
Year Built
1881
Stories
2
Listed By:
Robert A Blackhurst
(302) 723-3770
Source:
Evrealestate
Added: Jun 9
Changed: Sep 30
Last Checked: Oct 5 at 5:48PM
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 Robert A Blackhurst
Investment Insights
Based on property information with market context.
Colonial residential income property at 715 W 8th St in Wilmington, Delaware (New Castle County). The home was built in 1881 and has an interior estimated at 1,750. Interior features include ceiling fans, baseboard electric heat, and electric appliances such as a microwave, electric oven, electric range, and electric water heater.
Exterior features include on-street access. The property’s exterior is described as Colonial.
For buyers evaluating residential income opportunities, the combination of classic exterior styling and established interior electric systems provides a straightforward residential setup for potential occupants.
Exterior features include on-street access. The property’s exterior is described as Colonial.
For buyers evaluating residential income opportunities, the combination of classic exterior styling and established interior electric systems provides a straightforward residential setup for potential occupants.
Key Highlights
- 1,750 estimated interior size
- Built in 1881
- Ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,576
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,520
$331.5K
Cap Rate 7%
$236,800
$236.8K
Cap Rate 9%
$184,178
$184.2K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$32.1K $18.36/SF
− Vacancy
−$2.0K −$1.14/SF
EGI
$30.1K $17.22/SF
− OpEx
−$13.6K −$7.75/SF
NOI
$16.6K $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%
$331,520
Cap Rate 7%
$236,800
Cap Rate 9%
$184,178
Alternative Uses
Best Use
Apartment 5plus
$236.8K
$207.2K – $276.3K
NOI $16,576 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,301 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,881
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Colonial residential income property with on-street access and electric in-unit appliances, including a microwave and range.
Where is this residential income property located?
The property is located at 715 W 8th St Wilmington, DE.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1,750 estimated interior size; Built in 1881; Ceiling fans
