Renovated
For Sale
$425,000
811 BENNETT STREET, Wilmington, DE 19801
Two apartments offer separate bedroom and bath configurations, central air conditioning, and security systems.
Property Size1,925 SF
Price / SF$220.78
Days on Market8
Property Features for 811 BENNETT STREET
General Information
Standard status
Active
Size
1,925 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
central A/C
security systems
Building Details
Year Built
1990
Year Renovated
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(302) 234-1888
Listed By:
Kevin Hobbs · License #372369
(302) 530-3144
Source:
Cummingsrealtors
Added: Oct 6
Changed: Oct 11
Last Checked: Oct 12 at 7:14PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1990, this 1,925-square-foot duplex was renovated in 2024 and contains two apartments: one with three bedrooms and two bathrooms, and another with two bedrooms and one bathroom. Both units have updated finishes, central A/C, and security systems.
The property has been fully rented since the renovation was completed and is located in Wilmington, Delaware.
The property has been fully rented since the renovation was completed and is located in Wilmington, Delaware.
Key Highlights
- Two‑unit duplex totaling 1,925 square feet
- Renovated in 2024; built in 1990
- Three‑bedroom, two‑bath apartment paired with a two‑bedroom, one‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,411
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,220
$408.2K
Cap Rate 7%
$291,586
$291.6K
Cap Rate 9%
$226,789
$226.8K
Market Conditions
NOI Build-Up for 1,925 SF
Gross rent
$31.2K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$29.2K $15.15/SF
− OpEx
−$8.7K −$4.54/SF
NOI
$20.4K $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 Rate 5%
$408,220
Cap Rate 7%
$291,586
Cap Rate 9%
$226,789
Alternative Uses
Best Use
Multifamily LT 5
$291.6K
$255.1K – $340.2K
NOI $20,411 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$260.5K
$227.9K – $303.9K
NOI $18,233 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,031
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer separate bedroom and bath configurations, central air conditioning, and security systems.
Where is this duplex located?
The property is located at 811 BENNETT STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,925 square feet; Renovated in 2024; built in 1990; Three‑bedroom, two‑bath apartment paired with a two‑bedroom, one‑bath apartment
