Duplex With Two 2-Bedroom
For Sale
$425,000
Pending
912 Mccabe Ave, Wilmington, DE 19802
The property combines a renovated lower residence with an occupied upper unit and basement storage.
Property Size2,100 SF
Days on Market34
Property Features for 912 Mccabe Ave
General Information
Standard status
Pending
Size
2,100 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,901
Building Details
Buildings
1
Listing Agency:
Coldwell Banker Realty
(302) 275-4397
Listed By:
Jacob W. Lipton · License #RA-0031072
(302) 275-4397
Source:
Exprealty
Added: Jul 9
Changed: Aug 7
Last Checked: Aug 11 at 10:17AM
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.
This 2,100-square-foot duplex contains two 2-bedroom residences. The first-floor unit has been substantially updated with new LVP flooring, a refreshed kitchen with white shaker cabinetry, quartz countertops, tiled backsplash, stainless appliances, and a breakfast bar. Its bathroom includes tile flooring, a tiled shower, and a new vanity. The upper unit is described as being in great condition and has a long-term tenant.
Additional features include rear outdoor space, a basement with separate systems, ample storage, and exterior access serving both units. The property is located at 912 McCabe Ave in Wilmington, directly across from Salesianum school and positioned on a corner lot.
Additional features include rear outdoor space, a basement with separate systems, ample storage, and exterior access serving both units. The property is located at 912 McCabe Ave in Wilmington, directly across from Salesianum school and positioned on a corner lot.
Key Highlights
- Two 2‑bedroom units within a 2,100‑square‑foot duplex
- Renovated first‑floor unit with updated kitchen, bath, and LVP flooring
- Upper unit has a long‑term tenant and is in great condition
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,266
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,320
$445.3K
Cap Rate 7%
$318,086
$318.1K
Cap Rate 9%
$247,400
$247.4K
Market Conditions
NOI Build-Up for 2,100 SF
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.
Gross rent
$34.0K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$31.8K $15.15/SF
− OpEx
−$9.5K −$4.54/SF
NOI
$22.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,320
Cap Rate 7%
$318,086
Cap Rate 9%
$247,400
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$284.2K
$248.6K – $331.5K
NOI $19,891 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$502.3K
$439.5K – $586.0K
NOI $35,161 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines a renovated lower residence with an occupied upper unit and basement storage.
Where is this duplex located?
The property is located at 912 Mccabe Ave 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 2‑bedroom units within a 2,100‑square‑foot duplex; Renovated first‑floor unit with updated kitchen, bath, and LVP flooring; Upper unit has a long‑term tenant and is in great condition
