709 W 19th St · Wilmington, DE 19802

$550,000

5 bd · 3.0 ba · 1,475 sqft · MultiFamily public records · 65 Days on market

Built 1921 2,614 sqft lot $373/sqft · 119% above area Est $370k · 48% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +5.7/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Renovated triplex in the highly desirable Triangle District of Wilmington, offering a turnkey opportunity for both investors and savvy owner-occupants. This well-maintained multi-family property features three updated units, each showcasing remodeled kitchens with new cabinetry, quartz countertops, stainless steel appliances, tile backsplashes, and modern fixtures. Beautifully refinished hardwood floors run throughout each unit, complemented by fresh interior paint that enhances the bright, clean feel of the building. With strong rental potential and minimal immediate capital needs, this property is a valuable addition to any portfolio. Ideally located with convenient access to I-95, Salesianum School, and all the dining, shopping, and amenities Wilmington has to offer. Don’t miss this exceptional opportunity. Welcome home.

Key facts

• Updated units
• Renovated triplex
• Quartz countertops

Tags

• RENOVATED TRIPLEX
• UPDATED UNITS
• REMODELED KITCHENS
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TILE BACKSPLASHES

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.6% in Wilmington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, schools D, commute D.
• Red Clay Consolidated School District (suburban): math 27% / reading 42% proficiency, ranked #12 of 26 in DE (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 119 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• At $5,882/mo this rent would consume 131% of the median local household income ($54k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $154k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $215k; list at $550k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $516,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

• ARV (median comp): $370,491
• List price: $550,000
• Delta: 48.45%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W 27th St	0.66mi	4/— (-1)	1,375 (-7%)	16mo	$221,100	$161	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $16,488
• Equity at exit: $82,007

10-year hold

• IRR: 14.5%
• Equity multiple: 2.30×
• Total profit: $200,100
• Equity at exit: $47,554

Cash invested: $154,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 70 Landlord-Friendly
• State Delaware: 70 Landlord-Friendly · D+7
• County: — inherits STATE
• City: — inherits STATE

Court of Common Pleas hears L&T; moderate-paced. No state rent control.

Methodology + full state rankings →

ZIP-level market 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 23.4×

Monthly cashflow live

• Estimated rent: $5,882 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$131 /mo · $1,570/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,235
• Net cashflow: $1,403

Break-even live

Break-even rent $4,107

Max offer price $550,000

Occupancy floor 71%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,883
Total (3 units)			$5,882

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	43d	1	0.51mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	15d	1	0.52mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	43d	1	0.66mi
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	24d	1	1.41mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	11d	1	1.43mi

Listing history 19 events

1. 2026-06-13
   statusdays on market $550,000 Pending 65 DOM
2. 2026-06-13
   days on market $550,000 Active 64 DOM
3. 2026-06-09
   days on market $550,000 Active 61 DOM
4. 2026-06-08
   days on market $550,000 Active 60 DOM
5. 2026-06-07
   days on market $550,000 Active 59 DOM
6. 2026-06-04
   days on market $550,000 Active 56 DOM
7. 2026-06-03
   days on market $550,000 Active 55 DOM
8. 2026-06-02
   pricedays on market $550,000 Active 54 DOM
9. 2026-06-01
   days on market $560,000 Active 53 DOM
10. 2026-05-31
    days on market $560,000 Active 52 DOM
11. 2026-05-04
    price $560,000 841-char remark

    Show marketing remark (841 chars)

    Renovated triplex in the highly desirable Triangle District of Wilmington, offering a turnkey opportunity for both investors and savvy owner-occupants. This well-maintained multi-family property features three updated units, each showcasing remodeled kitchens with new cabinetry, quartz countertops, stainless steel appliances, tile backsplashes, and modern fixtures. Beautifully refinished hardwood floors run throughout each unit, complemented by fresh interior paint that enhances the bright, clean feel of the building. With strong rental potential and minimal immediate capital needs, this property is a valuable addition to any portfolio. Ideally located with convenient access to I-95, Salesianum School, and all the dining, shopping, and amenities Wilmington has to offer. Don’t miss this exceptional opportunity. Welcome home.

12. 2026-04-09
    listed $575,000 Active 841-char remark

    Show marketing remark (841 chars)

    Renovated triplex in the highly desirable Triangle District of Wilmington, offering a turnkey opportunity for both investors and savvy owner-occupants. This well-maintained multi-family property features three updated units, each showcasing remodeled kitchens with new cabinetry, quartz countertops, stainless steel appliances, tile backsplashes, and modern fixtures. Beautifully refinished hardwood floors run throughout each unit, complemented by fresh interior paint that enhances the bright, clean feel of the building. With strong rental potential and minimal immediate capital needs, this property is a valuable addition to any portfolio. Ideally located with convenient access to I-95, Salesianum School, and all the dining, shopping, and amenities Wilmington has to offer. Don’t miss this exceptional opportunity. Welcome home.

13. 2024-06-25
    historical $1,495
14. 2024-05-01
    listed $1,495
15. 2020-04-03
    soldstatus $215,000 Closed 1441-char remark

    Show marketing remark (1441 chars)

    Investor Alert!! This rarely available brick triplex in Salesianum Triangle offers an excellent cash flow opportunity and tons of investment potential. The 1st floor unit is a one-bedroom with a wide front porch, large dining room, and a spacious living room w/ fireplace . The kitchen is located at the rear of the unit and provides access to the back yard. To the left of the front porch is the common entrance to the other two units which also includes a mail area in the hall. The 2nd floor unit is two bedrooms and features a rear deck with fire escape staircase. This unit gets great natural light and includes a large bathroom with a tiled tub surround. The third floor unit is also two bedrooms and one bath. The large kitchen w/ pantry is found at the rear and features access to the covered deck which offers fantastic views of the surrounding area. The full basement is accessed by a covered bilco entrance in the back. Here you will find a shared laundry area and also enough extra space to add individual storage lockers for each unit. The electric and gas cooking is separately metered for each unit, but the natural gas heat and hot water are shared. This multi-unit needs plenty of TLC, but It's priced to sell quickly and is being sold in as-is condition. Not only is this property in a great neighborhood, the location offers quick access to 202, 95, and it's only a block from Brandywine Park! Schedule your showing today!

16. 2020-03-18
    status Pending 1441-char remark

    Show marketing remark (1441 chars)

    Investor Alert!! This rarely available brick triplex in Salesianum Triangle offers an excellent cash flow opportunity and tons of investment potential. The 1st floor unit is a one-bedroom with a wide front porch, large dining room, and a spacious living room w/ fireplace . The kitchen is located at the rear of the unit and provides access to the back yard. To the left of the front porch is the common entrance to the other two units which also includes a mail area in the hall. The 2nd floor unit is two bedrooms and features a rear deck with fire escape staircase. This unit gets great natural light and includes a large bathroom with a tiled tub surround. The third floor unit is also two bedrooms and one bath. The large kitchen w/ pantry is found at the rear and features access to the covered deck which offers fantastic views of the surrounding area. The full basement is accessed by a covered bilco entrance in the back. Here you will find a shared laundry area and also enough extra space to add individual storage lockers for each unit. The electric and gas cooking is separately metered for each unit, but the natural gas heat and hot water are shared. This multi-unit needs plenty of TLC, but It's priced to sell quickly and is being sold in as-is condition. Not only is this property in a great neighborhood, the location offers quick access to 202, 95, and it's only a block from Brandywine Park! Schedule your showing today!

17. 2020-02-23
    historical Active Under Contract 1441-char remark

    Show marketing remark (1441 chars)

    Investor Alert!! This rarely available brick triplex in Salesianum Triangle offers an excellent cash flow opportunity and tons of investment potential. The 1st floor unit is a one-bedroom with a wide front porch, large dining room, and a spacious living room w/ fireplace . The kitchen is located at the rear of the unit and provides access to the back yard. To the left of the front porch is the common entrance to the other two units which also includes a mail area in the hall. The 2nd floor unit is two bedrooms and features a rear deck with fire escape staircase. This unit gets great natural light and includes a large bathroom with a tiled tub surround. The third floor unit is also two bedrooms and one bath. The large kitchen w/ pantry is found at the rear and features access to the covered deck which offers fantastic views of the surrounding area. The full basement is accessed by a covered bilco entrance in the back. Here you will find a shared laundry area and also enough extra space to add individual storage lockers for each unit. The electric and gas cooking is separately metered for each unit, but the natural gas heat and hot water are shared. This multi-unit needs plenty of TLC, but It's priced to sell quickly and is being sold in as-is condition. Not only is this property in a great neighborhood, the location offers quick access to 202, 95, and it's only a block from Brandywine Park! Schedule your showing today!

18. 2020-02-06
    listed $199,999 Active 1441-char remark

    Show marketing remark (1441 chars)

    Investor Alert!! This rarely available brick triplex in Salesianum Triangle offers an excellent cash flow opportunity and tons of investment potential. The 1st floor unit is a one-bedroom with a wide front porch, large dining room, and a spacious living room w/ fireplace . The kitchen is located at the rear of the unit and provides access to the back yard. To the left of the front porch is the common entrance to the other two units which also includes a mail area in the hall. The 2nd floor unit is two bedrooms and features a rear deck with fire escape staircase. This unit gets great natural light and includes a large bathroom with a tiled tub surround. The third floor unit is also two bedrooms and one bath. The large kitchen w/ pantry is found at the rear and features access to the covered deck which offers fantastic views of the surrounding area. The full basement is accessed by a covered bilco entrance in the back. Here you will find a shared laundry area and also enough extra space to add individual storage lockers for each unit. The electric and gas cooking is separately metered for each unit, but the natural gas heat and hot water are shared. This multi-unit needs plenty of TLC, but It's priced to sell quickly and is being sold in as-is condition. Not only is this property in a great neighborhood, the location offers quick access to 202, 95, and it's only a block from Brandywine Park! Schedule your showing today!

19. 1975-08-01
    soldstatus $20,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $1,570 · $131/mo
• Projected year-2 tax: $2,380 · $198/mo
• Expected delta: +$810/yr (+$68/mo · 51.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,584
• − Mortgage interest: −$30,809
• − Property taxes: −$1,570
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,647
• − Management: −$5,647
• − Depreciation: −$16,000
• Taxable income: $8,162
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $14,872/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Red Clay Consolidated School District
• NCES district ID: 1001300
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $64,298
• Composite: 31.25/100
• National rank: #6027
• State rank: #12 of 26 in DE

Livability — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

Amenities F Commute D Cost of living A+ Crime F Employment D+ Housing A Health & safety D- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

Population outlook (New Castle County) Hauer SSP2

• Today (2025): 594,686 people
• By 2030: 609,164 · +2.4%
• By 2040: 632,154 · +6.3%
• By 2050: 649,068 · +9.1%
• By 2075: 687,771 · +15.7%
• By 2100: 694,961 · +16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

Political lean MEDSL · New Castle

• 2024 margin: Solid D (+32.6) · D 65.5% · R 32.9% · Other 1.6%
• 2008→2024 swing: -8.1pp toward R · 2008: 40.6pp · 2024: 32.6pp
• All cycles: 2024: D+32.6 2020: D+37.1 2016: D+29.6 2012: D+34.1 2008: D+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+2645.1% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $560,000 BRIGHT MLS
• 2026-04-09 Listed $575,000 BRIGHT MLS
• 2024-06-25 Rental Removed $1,495 BRIGHTMLS
• 2024-05-01 Listed for Rent $1,495 BRIGHTMLS
• 2020-04-03 Sold (MLS) $215,000 BRIGHT MLS
• 2020-03-18 Pending — BRIGHT MLS
• 2020-02-23 Contingent — BRIGHT MLS
• 2020-02-06 Listed $199,999 BRIGHT MLS
• 1975-08-01 Sold (Public Records) $20,400 Public Records

Property tax history

+19.9%/yr

Latest (2024): $1,570 · +15.1% YoY. Source: county tax records.