Attention Condo Investors Only: High-Yield Investment Opportunity with Turn-Key Convenience Add this exceptional rental property to your IRA portfolio and enjoy an already established NET Cash Flow of approximately $1,100 per month. Generating a reliable income from in-place rent, this condo offers a stable and hassle-free investment. The condominium association is efficiently managed, taking care of all exterior maintenance, and maintains a fully funded Reserves account for added security. Meanwhile, the responsible tenant ensures all interior maintenance, leaving you with nothing to worry about except collecting your rent. With automated Direct Deposit on the 1st of each month, you can count on a consistent income stream. This property boasts a long-standing corporate tenant-in-place since April 2016, demonstrating their commitment to staying long-term. The lease is auto-extending yearly with automatic 3% increases, further enhancing your returns. The tenant has also paid a full security deposit and handles utility payments directly. While this deal is all about the numbers, inside, the unit features attractive upgrades, such as 42” tall kitchen wall cabinets, stainless steel “Frigidaire” appliances, and butcher-block counters. Notably, this unit includes a rare, grandfathered-in, in-unit full-size stacked washer and dryer. Upgraded electrical wiring and circuit panels ensure a modern and safe living environment. Tongue and groove red oak hardwood floors add a touch of elegance throughout, while the bedrooms feature high-grade wall-to-wall carpeting and elegant crown molding. Ample storage includes a master "walk-in" closet and full mirrored sliding closet doors in the secondary bedroom. Heating is provided by a community-forced hot-water radiant baseboard system, and the unit is equipped with a 'through-the-wall' AC unit for climate control. Please note that the property is "Drive-by Only," and any offers should be subject to inspection. Don't miss out on this excellent investment opportunity with a secure and reliable cash flow.
Sold for $109,140
$109,140
201 Philadelphia 1/2 Pike #107, Wilmington, DE 19809
2beds
800sqft
Condominium
Built in 1968
-- sqft lot
$139,300 Zestimate®
$136/sqft
$1,578 Estimated rent
Home value
$139,300
$127,000 - $153,000
$1,578/mo
Zestimate® history
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$1,578/mo
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$523/mo
Est. payment
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$523/mo
Est. payment
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Elegant crown moldingButcher-block countersFull-size stacked washer
Zillow last checked:
Listing updated:
Listed by:
Mr. Michael Ferretti 310-896-5003,
DuPont Street Realty Advisors
Bought with:
Dawn Myers, 5018677
RE/MAX Action Associates
Source: Bright MLS,MLS#: DENC2045404
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 2
Basement
- Area: 0
Heating
- Baseboard, Natural Gas
Cooling
- Wall Unit(s), Electric
Appliances
- Included: Microwave, Dishwasher, Disposal, Dryer, Oven/Range - Gas, Range Hood, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer Stacked, Gas Water Heater
- Laundry: Washer In Unit, Dryer In Unit, Common Area, In Unit
Features
- Ceiling Fan(s)
- Flooring: Other, Carpet, Wood
- Windows: Screens, Sliding, Window Treatments
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 800
- Total interior livable area: 800 sqft
- Finished area above ground: 800
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Assigned, Parking Lot
- Details: Assigned Parking, Assigned Space #: 1
Accessibility
- Accessibility features: None
Features
- Levels: Three
- Stories: 3
- Pool features: None
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 06139.00061.C.0107
- Zoning: RES
- Special conditions: Standard
- Other equipment: Intercom
Construction
Type & style
- Home type: Condo
- Architectural style: Other
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Other
- Roof: Unknown
Condition
- Very Good
- New construction: No
- Year built: 1968
- Major remodel year: 1981
Utilities & green energy
- Electric: 100 Amp Service
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Natural Gas Available, Phone Available
Community & HOA
Community
- Security: Exterior Cameras, Main Entrance Lock, Smoke Detector(s), Security System
- Condo and coop fee: $308 monthly
- Subdivision: Brandywine Hundred
HOA
- Has HOA: No
- Amenities included: Laundry, Meeting Room, Party Room, Picnic Area
- Services included: Alarm System, All Ground Fee, Common Area Maintenance, Maintenance Structure, Insurance, Laundry, Lawn Care Front, Lawn Care Rear, Lawn Care Side, Maintenance Grounds, Reserve Funds, Sewer, Snow Removal, Trash, Water
- HOA name: Heritage Place Condominiums.com
Location
- Region: Wilmington
Financial & listing details
- Price per square foot: $136/sqft
- Tax assessed value: $42,000
- Annual tax amount: $1,518
- Date on market: 7/1/2023
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Other
- Inclusions: All Existing Appliances In As-is Condtion
- Ownership: Condominium
Price history
| Date | Event | Price |
|---|---|---|
| 8/24/2023 | Sold | $109,140-5%$136/sqft |
Source:  Bright MLS #DENC2045404 Report a problem | ||
| 8/22/2023 | Pending sale | $114,900$144/sqft |
Source: Bright MLS #DENC2045404 Report a problem | ||
| 8/6/2023 | Contingent | $114,900$144/sqft |
Source: Bright MLS #DENC2045404 Report a problem | ||
| 7/28/2023 | Price change | $114,900-4.2%$144/sqft |
Source: Bright MLS #DENC2045404 Report a problem | ||
| 7/1/2023 | Listed for sale | $119,900+19.9%$150/sqft |
Source: Bright MLS #DENC2045404 Report a problem | ||
| 11/30/2022 | Listing removed | $100,000$125/sqft |
Source: Bright MLS #DENC2025688 Report a problem | ||
| 9/19/2022 | Listed for sale | $100,000$125/sqft |
Source: Bright MLS #DENC2025688 Report a problem | ||
| 9/8/2022 | Contingent | $100,000$125/sqft |
Source: Bright MLS #DENC2025688 Report a problem | ||
| 7/15/2022 | Listed for sale | $100,000$125/sqft |
Source: Bright MLS #DENC2025688 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 19809
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Nearby schools
GreatSchools rating
- 2/10Harlan (David W. ) Elementary SchoolGrades: K-5Distance: 0.8 mi
- 5/10duPont (Pierre S.) Middle SchoolGrades: 6-8Distance: 1 mi
- 6/10Mount Pleasant High SchoolGrades: 9-12Distance: 0.8 mi
Schools provided by the listing agent
- District: Brandywine
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$139,300
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Estimated market value
$139,300
- Delaware
- New Castle County
- Wilmington
- 19809
- 201 Philadelphia 1/2 Pike Unit 107
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