Cape Cod Triplex with Off-Street
803 E STATE Street Delmar, DE 19940
803 E STATE Street, Delmar, DE, 19940
$322,000
For Sale
$322,000
MULTI_FAMILY - Cape Cod - DELMAR, DE
Property Size2,560 SF
Lot Size0.23 Acres
Price / SF$125.78
Days on Market268
Property Features for 803 E STATE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Off Street
- Standard status
- Active
- Size
- 2,560 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Annual Amount
- 844
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1940
- Number of units
- 3
- Building materials
- Shingle Siding
- Architectural style
- Cape Cod
Listing Agency
Redfin Corporation
(484) 962-0034
993 Old Eagle School Road unit: 417, Conshohocken, DE
Listed by
Kelley J Johnson
(302) 278-9632
Added: Oct 24, 2025 Checked: Jul 18 at 3:06 am
MLS# DESU2099328
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained Cape Cod-style triplex contains three residential units. One unit offers two bedrooms and one full bath, while the other two units each provide one bedroom and one bath. Off-street parking is available for up to four vehicles, and a storage shed is located in the rear yard. Recent updates include new appliances and replaced mechanical and supporting systems, such as the boiler, hot water heater, sump, and heat pumps.
The property is located at 803 E STATE Street in Delmar, Delaware, in Sussex County. Public remarks indicate it is close to downtown and within a short distance of local schools.
For buyers seeking a turnkey residential income property, the configuration supports multiple tenant households within a single asset, and the documented updates may help reduce near-term maintenance needs. With all three units described as currently rented, this offering may be well-suited for an owner-operator or investor looking to purchase a packaged income stream with established on-site operations.
The property is located at 803 E STATE Street in Delmar, Delaware, in Sussex County. Public remarks indicate it is close to downtown and within a short distance of local schools.
For buyers seeking a turnkey residential income property, the configuration supports multiple tenant households within a single asset, and the documented updates may help reduce near-term maintenance needs. With all three units described as currently rented, this offering may be well-suited for an owner-operator or investor looking to purchase a packaged income stream with established on-site operations.
Key Highlights
- Strong income‑producing triplex with a full rental history, offering immediate returns on investment.
- Recent updates include new appliances and replaced systems (boiler, hot water heater, sump, heat pumps) minimizing future maintenance costs.
- Ideally located close to downtown and local schools, increasing tenant appeal.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.5k | $16.20 |
| − Vacancy | −$2.7k | −$1.05 |
| EGI | $38.8k | $15.15 |
| − OpEx | −$11.6k | −$4.54 |
| NOI | $27.1k | $10.60 |
2,560 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$387.8K
$339.3K – $452.4K
NOI $27,143 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$359.2K
$314.3K – $419.1K
NOI $25,147 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$703.5K
$615.6K – $820.7K
NOI $49,244 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit Cape Cod triplex with off-street parking and recent system and appliance updates, suited for steady rental occupancy.
Where is this triplex located?
The property is located at 803 E STATE Street Delmar, DE.
What is the asking price?
The asking price for this property is $322,000.
What are key features of this property?
This property features: Strong income‑producing triplex with a full rental history, offering immediate returns on investment.; Recent updates include new appliances and replaced systems (boiler, hot water heater, sump, heat pumps) minimizing future maintenance costs.; Ideally located close to downtown and local schools, increasing tenant appeal.
