*** Online pictures are from original renovation, prior to rental *** Turnkey Wilmington duplex with strong in-place income and meaningful recent reinvestment in the surrounding block. Bennett Street has benefited from ongoing neighborhood revitalization, including numerous renovated homes and improved streetscape conditions, as reflected in the current exterior photos. Fully renovated in 2024 and fully occupied, the property includes a 3BR/2BA unit and a 2BR/1BA unit producing $48,588 in current annual rent. At the $425,000 asking price, illustrative investor underwriting using 20% down and a 7.50% interest rate projects approximately $543/month in cash flow, a 1.23 DSCR and a 7.7% cash-on-cash return before closing costs and taxes. Well suited for either an investor seeking immediate income or an owner-occupant looking to offset housing costs with rental income. Buyer to verify all income, expenses, financing, and investment assumptions. Showings will be available from 1pm-3pm on Tues & Thur, by appointment only. Call the agent if you are interested but can't make either window.
Listed by Kevin Hobbs of Coldwell Banker Realty

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