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6013 MADELINE DRIVE
About This Property
Investor opportunity in Eastburn Acres. This 4 bedroom, 2.5 bath split-level home sits on a level lot with mature trees and offers a strong value-add opportunity in a well-established Wilmington location, ideal for a fix and flip, buy and hold rental, BRRRR strategy, or an owner occupant looking to build equity with some updates.
The main level features hardwood floors throughout the living room, dining area, and bedrooms. A large picture window brings in natural light, and the layout flows directly into the kitchen, making it functional for everyday living or future resale appeal.
The kitchen has already been updated with cherry cabinetry, granite countertops, stainless steel appliances, gas range, microwave, dishwasher, and side-by-side refrigerator. A breakfast bar opens to a bright family room with a skylight and access to a convenient half bath.
Bedrooms are well-sized with hardwood flooring, ceiling fans, and solid closet space. The full hall bath includes a tub and tile surround. The home also includes a full basement with laundry hookups and additional storage potential.
This property does need TLC and cosmetic updates. The lower-level family room and one additional room currently have unfinished flooring, allowing the next owner to select their own finishes and maximize value. Many of the larger items have already been addressed, leaving a clear path to add equity through renovation.
Located in Eastburn Acres with quick access to major routes including I-95 and Route 1. Just minutes to Christiana Mall, shopping, dining, and grocery options. Strong rental demand area with proximity to employment centers and a short drive to the University of Delaware, making this an attractive option for a college rental or long-term investment.
Great opportunity for investors searching for Wilmington DE investment property, fixer upper, rental property, or value-add real estate. Also well suited for a buyer looking to renovate and occupy while building equity.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017