Brick Triplex with Three
For Sale
$439,900
902 N MADISON Street, Wilmington, DE 19801
Multi-Family, WILMINGTON, DE
Property Size4,250 SF
Lot Size0.08 Acres
Price / SF$103.51
Days on Market141
Property Features for 902 N MADISON Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
Off Street
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
4,250 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5912
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1875
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
Jazmin Lynn Montalvo · License #RS0036466
(302) 256-1215
Added: May 19
Changed: Oct 1
Last Checked: Oct 6 at 5:06AM
MLS# DENC2103428
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.
Located at 902 N Madison Street in Wilmington, this 4,250-square-foot brick triplex contains three residential units. Each unit provides 2 bedrooms and 2 full bathrooms, creating a consistent layout throughout the property. Built in 1875, the building includes a basement, hot-water heating, central air, and off-street parking.
All three units are occupied by long-term tenants under month-to-month leases. The property is near Trolley Square, Market Street, Wilmington Train Station, major highways, shopping, dining, and public transportation, with access to commuter connections and city amenities.
All three units are occupied by long-term tenants under month-to-month leases. The property is near Trolley Square, Market Street, Wilmington Train Station, major highways, shopping, dining, and public transportation, with access to commuter connections and city amenities.
Key Highlights
- Three‑unit brick triplex built in 1875
- Each unit has 2 bedrooms and 2 full bathrooms
- 4,250 square feet on a 0.08‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,256
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,120
$805.1K
Cap Rate 7%
$575,086
$575.1K
Cap Rate 9%
$447,289
$447.3K
Market Conditions
NOI Build-Up for 4,250 SF
Gross rent
$78.0K $18.36/SF
− Vacancy
−$4.8K −$1.14/SF
EGI
$73.2K $17.22/SF
− OpEx
−$32.9K −$7.75/SF
NOI
$40.3K $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%
$805,120
Cap Rate 7%
$575,086
Cap Rate 9%
$447,289
Alternative Uses
Best Use
Multifamily LT 5
$643.7K
$563.3K – $751.0K
NOI $45,062 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$575.1K
$503.2K – $670.9K
NOI $40,256 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.02M
$889.5K – $1.19M
NOI $71,159 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,717
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
Check the figures for this property
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?
Triplex - Fully occupied residential income property with flexible month-to-month tenancy and off-street parking.
Where is this triplex located?
The property is located at 902 N MADISON Street Wilmington, DE.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Three‑unit brick triplex built in 1875; Each unit has 2 bedrooms and 2 full bathrooms; 4,250 square feet on a 0.08‑acre lot
