$ 249,500
-
$249,500
Price -
2
Bed -
0
Bath -
1,360
SqFt
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About the Listing 61018 - 3129941
This turn-key duplex is a low-maintenance, income-producing investment with positive cash flow. Both units have been recently renovated—the second-floor apartment in 2024 and the first-floor apartment in 2026 at a cost of $11,000—making it a strong opportunity for investors or owner-occupants looking to offset their mortgage with rental income. Each unit has a private entrance, and both share access to the backyard. Street parking is available. The second-floor apartment currently rents for $1,175, and the newly renovated first floor is projected to rent for $1,290, for combined projected income of $2,465 per month. Tenants pay gas and electric, while the owner covers water. Owner expenses include the house meter at $20 per month and city water at approximately $90 per month, with total monthly expenses of $1,714 (principle $225,000 loan), interest, taxes, insurance, water, and house meter). This results in positive cash flow of approximately $700 per month. Located in a convenient Wilmington neighborhood close to major routes, shopping, and city amenities, this property offers reliable rental income with minimal upkeep. The adjacent property at 1112 S. Rodney is also available for sale. Licensed fee appraisal was done and appraised value is $250,000. Appraisal report is available upon request. All appointments require 24-hour notice.
Listing Highlights
Status
Active
Days on Site
4
Property Type
Multi-Family
MLS ®
DENC2107828
Year Built
1940
Total Square Footage
1,360
Lot/Acreage
0.05
Interior Details
- Bedrooms: 2
- Bathrooms: 0 Full
- Appliances: Oven/Range - Gas, Refrigerator, Water Heater
- Air Cond:
- Heating: 90% Forced Air,Baseboard - Electric
- Fireplaces:
- Floor: Laminate Plank
- Above Ground Sq Ft: 1360
- Below Ground Sq Ft: 0
- Basement: Full,Outside Entrance,Unfinished,Windows
- Other: Bathroom - Tub Shower,Breakfast Area,Ceiling Fan(s),Combination Kitchen/Dining,Floor Plan - Traditional
- Water: Public
Exterior Details
- Lot Description: Front Yard,Level,Rear Yard,Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 28X82
- Zoning: 26R-2
- Roof: Rubber
- Others: Fire Escape,Play Area,Sidewalks,Street Lights,Excellent
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $2,494
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
1114 S Rodney St Wilmington, DE 19805
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