Fully Leased Duplex Income
917 Vandever Avenue Wilmington, DE 19802
917 Vandever Avenue, Wilmington, DE, 19802
$285,000
For Sale
$285,000
Duplex with two 3-bedroom, 1-bath units, separate utilities, and off-street parking.
Property Size2,100 SF
Price / SF$135.71
Days on Market264
Property Features for 917 Vandever Avenue
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing agency
Foraker Realty Co.
(302) 501-5218
Listed by
Brian D. Foraker · License #RS0024136
(302) 501-5218
Source
Compass
Added: Oct 31, 2025 Updated: Jul 21 at 5:59AM Checked: Jul 21 at 5:59AM
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 Foraker Realty Co.
Investment Insights
Based on property information with market context.
This duplex offers two identical 3-bedroom, 1-bath units. Each unit includes an eat-in kitchen, ample storage, off-street parking, and separate utilities, supporting operational flexibility for an investor or owner-operator. The property is described as fully leased with long-term tenants in place.
The home is located in Wilmington within city limits in New Castle County, near Delaware Technical Community College and shopping, dining, and major commuter routes.
Recent improvements cited include new heating systems installed in 2024 for both units, along with a new refrigerator in Unit 1 (2024). The listing states the property is well maintained and consistently occupied.
The home is located in Wilmington within city limits in New Castle County, near Delaware Technical Community College and shopping, dining, and major commuter routes.
Recent improvements cited include new heating systems installed in 2024 for both units, along with a new refrigerator in Unit 1 (2024). The listing states the property is well maintained and consistently occupied.
Key Highlights
- Fully leased duplex with two identical 3‑bedroom, 1‑bath units
- Combined monthly rental income totals $2,850
- Section 8 approved; long‑term tenants currently in place
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 | $34.0k | $16.20 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $31.8k | $15.15 |
| − OpEx | −$9.5k | −$4.54 |
| NOI | $22.3k | $10.60 |
2,100 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$284.2K
$248.6K – $331.5K
NOI $19,891 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$502.3K
$439.5K – $586.0K
NOI $35,161 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with two 3-bedroom, 1-bath units, separate utilities, and off-street parking.
Where is this duplex located?
The property is located at 917 Vandever Avenue Wilmington, DE.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Fully leased duplex with two identical 3‑bedroom, 1‑bath units; Combined monthly rental income totals $2,850; Section 8 approved; long‑term tenants currently in place
