811 W 4th St · Wilmington, DE 19801

$185,000

5 bd · 2.0 ba · 1,725 sqft · MultiFamily public records · 14 Days on market

Built 1879 871 sqft lot $107/sqft · 22% below area Est $236k · 22% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This property offers a fantastic opportunity for an owner-occupant to live in one unit while renting the other, or for a savvy investor to secure a high-demand asset in the heart of the city. Unit A: First Floor Efficiency The ground-floor apartment is designed for easy, low-maintenance living. It features: 1 Bedroom / 1 Full Bathroom Direct Access: Easy entry with no stairs, ideal for accessibility. Unit B: Second Level Premium Apartment With Two Floors. The upper residence is a standout feature of this property, offering a spacious and rare layout for the area: 2 Bedrooms: Each room provides ample natural light and storage. 2 Full Bathrooms: A massive value-add that ensures privacy and convenience for roommates or small families. There is also a bonus room! Living on 4th Street puts residents at the center of Wilmington’s revitalization: -Commuter’s Dream: Minutes from I-95, the Wilmington Amtrak/SEPTA station, and major bus routes. -City Amenities: A short walk to the Market Street entertainment district, the Wilmington Riverfront, and the city’s major corporate hubs. Investment Highlights: -Strong Rental History: High-demand area for workforce housing. -Diverse Unit Mix: Two distinct floor plans to capture a wider range of the rental market. Whether you're looking for a turnkey rental or a house-hacking opportunity, this 4th Street duplex delivers both options! Schedule your private tour to see the potential for yourself!

Key facts

• Built 1879
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/2ba units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $710/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 15.5% vs local median 5.7% 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.
• Christina School District (suburban): math 22% / reading 33% proficiency, ranked #18 of 26 in DE (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 75 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $3,236/mo this rent would consume 74% of the median local household income ($53k/yr) (locally 919% 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 $1k of loan paydown is wiped out by about $6k 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 + 1.6% rent growth), your $52k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 30y 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 $110k; list at $185k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1879 — 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 $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1879 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.75% ✓
• Cap rate: 15.50%
• Cash-on-cash: 32.90%
• DSCR: 2.46
• GRM: 4.8

CMA / ARV

• ARV (median comp): $236,346
• List price: $185,000
• Delta: -21.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 Elm St	0.47mi	4/— (-1)	1,800 (+4%)	2mo	$210,000	$117	64
715 8th St	0.24mi	4/4.0 (-1)	1,750 (+1%)	14mo	$259,900	$149	62
1816 W Fifth St	0.74mi	4/— (-1)	1,600 (-7%)	8mo	$230,000	$144	42
1606 W 4th St	0.58mi	6/— (+1)	1,950 (+13%)	7mo	$225,100	$115	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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.08×
• Total profit: $55,904
• Equity at exit: $27,584

10-year hold

• IRR: 33.3%
• Equity multiple: 3.84×
• Total profit: $146,930
• Equity at exit: $15,995

Cash invested: $51,800 (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 19801

• Rents YoY: 1.6%
• Active inventory: 75
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,236 high
• Mortgage (P&I): −$970
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $1,420

Break-even live

Break-even rent $1,438

Max offer price $185,000

Occupancy floor 51%

Sensitivity live

Price	-10% $1,525	-5% $1,472	+0% $1,420	+5% $1,368	+10% $1,315
Rent	-10% $1,164	-5% $1,292	+0% $1,420	+5% $1,548	+10% $1,676
Rate	-1.0pp $1,513	-0.5pp $1,467	base $1,420	+0.5pp $1,372	+1.0pp $1,323

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,553
1× unit	2	2	$1,683
Total (2 units)			$3,236

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 Lancaster Ave Wilmington, DE	4.0	1.5	1375	$1,900	$1.38	25d	1	0.25mi
1301 Lancaster Ave Wilmington, DE	4.0	2.0	1200	$1,800	$1.50	12d	1	0.36mi
1913 W 2nd St Unit 1913 Wilmington, DE	5.0	1.5	1675	$2,050	$1.22	44d	1	0.80mi
1601 E Latimer Pl Wilmington, DE	4.0	1.0	1450	$2,195	$1.51	19d	1	1.02mi
125 W 23rd St Wilmington, DE	4.0	2.0	1672	$1,995	$1.19	44d	1	1.28mi
2401 N West St Wilmington, DE	4.0	1.0	1650	$1,900	$1.15	16d	1	1.33mi
2518 N Tatnall St Wilmington, DE	4.0	1.5	1575	$1,995	$1.27	44d	1	1.42mi

Listing history 26 events

1. 2026-05-08
   historical Active Under Contract 1467-char remark

   Show marketing remark (1467 chars)

   This property offers a fantastic opportunity for an owner-occupant to live in one unit while renting the other, or for a savvy investor to secure a high-demand asset in the heart of the city. Unit A: First Floor Efficiency The ground-floor apartment is designed for easy, low-maintenance living. It features: 1 Bedroom / 1 Full Bathroom Direct Access: Easy entry with no stairs, ideal for accessibility. Unit B: Second Level Premium Apartment With Two Floors. The upper residence is a standout feature of this property, offering a spacious and rare layout for the area: 2 Bedrooms: Each room provides ample natural light and storage. 2 Full Bathrooms: A massive value-add that ensures privacy and convenience for roommates or small families. There is also a bonus room! Living on 4th Street puts residents at the center of Wilmington’s revitalization: -Commuter’s Dream: Minutes from I-95, the Wilmington Amtrak/SEPTA station, and major bus routes. -City Amenities: A short walk to the Market Street entertainment district, the Wilmington Riverfront, and the city’s major corporate hubs. Investment Highlights: -Strong Rental History: High-demand area for workforce housing. -Diverse Unit Mix: Two distinct floor plans to capture a wider range of the rental market. Whether you're looking for a turnkey rental or a house-hacking opportunity, this 4th Street duplex delivers both options! Schedule your private tour to see the potential for yourself!

2. 2026-04-25
   listed $185,000 Active 1467-char remark

   Show marketing remark (1467 chars)

   This property offers a fantastic opportunity for an owner-occupant to live in one unit while renting the other, or for a savvy investor to secure a high-demand asset in the heart of the city. Unit A: First Floor Efficiency The ground-floor apartment is designed for easy, low-maintenance living. It features: 1 Bedroom / 1 Full Bathroom Direct Access: Easy entry with no stairs, ideal for accessibility. Unit B: Second Level Premium Apartment With Two Floors. The upper residence is a standout feature of this property, offering a spacious and rare layout for the area: 2 Bedrooms: Each room provides ample natural light and storage. 2 Full Bathrooms: A massive value-add that ensures privacy and convenience for roommates or small families. There is also a bonus room! Living on 4th Street puts residents at the center of Wilmington’s revitalization: -Commuter’s Dream: Minutes from I-95, the Wilmington Amtrak/SEPTA station, and major bus routes. -City Amenities: A short walk to the Market Street entertainment district, the Wilmington Riverfront, and the city’s major corporate hubs. Investment Highlights: -Strong Rental History: High-demand area for workforce housing. -Diverse Unit Mix: Two distinct floor plans to capture a wider range of the rental market. Whether you're looking for a turnkey rental or a house-hacking opportunity, this 4th Street duplex delivers both options! Schedule your private tour to see the potential for yourself!

3. 2026-04-20
   historical $185,000 1467-char remark

   Show marketing remark (1467 chars)

   This property offers a fantastic opportunity for an owner-occupant to live in one unit while renting the other, or for a savvy investor to secure a high-demand asset in the heart of the city. Unit A: First Floor Efficiency The ground-floor apartment is designed for easy, low-maintenance living. It features: 1 Bedroom / 1 Full Bathroom Direct Access: Easy entry with no stairs, ideal for accessibility. Unit B: Second Level Premium Apartment With Two Floors. The upper residence is a standout feature of this property, offering a spacious and rare layout for the area: 2 Bedrooms: Each room provides ample natural light and storage. 2 Full Bathrooms: A massive value-add that ensures privacy and convenience for roommates or small families. There is also a bonus room! Living on 4th Street puts residents at the center of Wilmington’s revitalization: -Commuter’s Dream: Minutes from I-95, the Wilmington Amtrak/SEPTA station, and major bus routes. -City Amenities: A short walk to the Market Street entertainment district, the Wilmington Riverfront, and the city’s major corporate hubs. Investment Highlights: -Strong Rental History: High-demand area for workforce housing. -Diverse Unit Mix: Two distinct floor plans to capture a wider range of the rental market. Whether you're looking for a turnkey rental or a house-hacking opportunity, this 4th Street duplex delivers both options! Schedule your private tour to see the potential for yourself!

4. 2022-05-13
   soldstatus $109,900
5. 2022-04-28
   soldstatus $109,900 Closed 428-char remark

   Show marketing remark (428 chars)

   Seller says, no exceptions, this duplex is being sold in "as is" condition! Cash or Conventional buyers only! Priced to sell quickly and fully occupied with great paying month to month tenants. Great rental income. This sale is only due to a seller re-location. First floor is a one bedroom and the second floor is a two bedroom. Tenants must be honored on all showings, so call the showing agent to arrange showings.

6. 2022-04-02
   status Pending 428-char remark

   Show marketing remark (428 chars)

   Seller says, no exceptions, this duplex is being sold in "as is" condition! Cash or Conventional buyers only! Priced to sell quickly and fully occupied with great paying month to month tenants. Great rental income. This sale is only due to a seller re-location. First floor is a one bedroom and the second floor is a two bedroom. Tenants must be honored on all showings, so call the showing agent to arrange showings.

7. 2022-04-01
   status Active 428-char remark

   Show marketing remark (428 chars)

   Seller says, no exceptions, this duplex is being sold in "as is" condition! Cash or Conventional buyers only! Priced to sell quickly and fully occupied with great paying month to month tenants. Great rental income. This sale is only due to a seller re-location. First floor is a one bedroom and the second floor is a two bedroom. Tenants must be honored on all showings, so call the showing agent to arrange showings.

8. 2022-03-31
   listed $109,900 Active 428-char remark

   Show marketing remark (428 chars)

   Seller says, no exceptions, this duplex is being sold in "as is" condition! Cash or Conventional buyers only! Priced to sell quickly and fully occupied with great paying month to month tenants. Great rental income. This sale is only due to a seller re-location. First floor is a one bedroom and the second floor is a two bedroom. Tenants must be honored on all showings, so call the showing agent to arrange showings.

9. 2022-03-31
   historical 428-char remark

   Show marketing remark (428 chars)

   Seller says, no exceptions, this duplex is being sold in "as is" condition! Cash or Conventional buyers only! Priced to sell quickly and fully occupied with great paying month to month tenants. Great rental income. This sale is only due to a seller re-location. First floor is a one bedroom and the second floor is a two bedroom. Tenants must be honored on all showings, so call the showing agent to arrange showings.

10. 2011-10-14
    soldstatus $16,000
11. 2011-10-14
    soldstatus $16,000
12. 2011-10-04
    historical
13. 2011-04-28
    listed $17,000
14. 2011-04-28
    listed $17,000
15. 2007-12-03
    soldstatus $58,300
16. 2007-08-11
    historical
17. 2006-11-17
    historical
18. 2006-11-16
    listed $115,900
19. 2006-08-14
    listed $119,900
20. 2002-09-13
    soldstatus $10
21. 1997-06-16
    historical
22. 1997-06-16
    listed $44,900
23. 1996-09-30
    soldstatus $60,000
24. 1996-08-13
    historical
25. 1996-04-25
    listed $60,000
26. 1987-04-01
    soldstatus $57,000

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$2/yr ($0/mo · 0.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,832
• − Mortgage interest: −$10,363
• − Property taxes: −$1,069
• − Insurance: −$925
• − Repairs & maintenance: −$3,107
• − Management: −$3,107
• − Depreciation: −$5,382
• Taxable income: $14,880
• Est. tax owed @ 24.0%: −$3,571
• After-tax cash flow: $13,470/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: Christina School District
• NCES district ID: 1000200
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,838
• Composite: 24.93/100
• National rank: #7567
• State rank: #18 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): 16,327
• Household income: $52,810
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 919.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

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: ▼ -112.65%
• Current HPI: 151.1288
• Rent YoY: ▲ 1.59%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+224.6% since first listed

26 events — show timeline

• 2026-05-08 Contingent — BRIGHT MLS
• 2026-04-25 Listed $185,000 BRIGHT MLS
• 2026-04-20 Coming Soon $185,000 BRIGHT MLS
• 2022-05-13 Sold (Public Records) $109,900 Public Records
• 2022-04-28 Sold (MLS) $109,900 BRIGHT MLS
• 2022-04-02 Pending — BRIGHT MLS
• 2022-04-01 Relisted — BRIGHT MLS
• 2022-03-31 Listing Removed — BRIGHT MLS
• 2022-03-31 Listed $109,900 BRIGHT MLS
• 2011-10-14 Sold (MLS) $16,000 TREND
• 2011-10-14 Sold (MLS) $16,000 BRIGHT MLS
• 2011-10-04 Listing Removed — BRIGHT MLS
• 2011-04-28 Listed $17,000 TREND
• 2011-04-28 Listed $17,000 BRIGHT MLS
• 2007-12-03 Sold (Public Records) $58,300 Public Records
• 2007-08-11 Listing Removed — BRIGHT MLS
• 2006-11-17 Listing Removed — BRIGHT MLS
• 2006-11-16 Listed $115,900 BRIGHT MLS
• 2006-08-14 Listed $119,900 BRIGHT MLS
• 2002-09-13 Sold (Public Records) $10 Public Records
• 1997-06-16 Listed $44,900 BRIGHT MLS
• 1997-06-16 Listing Removed — BRIGHT MLS
• 1996-09-30 Sold (MLS) $60,000 BRIGHT MLS
• 1996-08-13 Listing Removed — BRIGHT MLS
• 1996-04-25 Listed $60,000 BRIGHT MLS
• 1987-04-01 Sold (Public Records) $57,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $1,069 · +2.6% YoY. Source: county tax records.