Brick
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 Market151
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 11
Last Checked: Oct 16 at 2:06AM
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.
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Investment Insights
Based on property information with market context.
This 4,250-square-foot brick triplex contains three apartments, each with two bedrooms and two full bathrooms. The property was built in 1875 and includes a basement, hot-water heating, central air conditioning, and off-street parking. The 0.08-acre parcel is located at 902 N Madison Street in Wilmington.
Trolley Square, Market Street, Wilmington Train Station, major highways, shopping, dining, and public transportation are described as minutes away. Each apartment is currently occupied, with tenants on month-to-month leases.
Trolley Square, Market Street, Wilmington Train Station, major highways, shopping, dining, and public transportation are described as minutes away. Each apartment is currently occupied, with tenants on month-to-month leases.
Key Highlights
- Three apartments, each with 2 bedrooms and 2 full bathrooms
- All units occupied with month‑to‑month leases
- 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.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied under month-to-month tenancies.
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 apartments, each with 2 bedrooms and 2 full bathrooms; All units occupied with month‑to‑month leases; 4,250 square feet on a 0.08‑acre lot
