1112 S RODNEY STREET
Property Description
This turn-key duplex is a low-maintenance, income-producing investment with positive cash flow. Both units have been recently renovated2024making it a strong opportunity for investors or owner-occupants looking to offset their mortgage with rental income.Each unit has a private entrance, and both share access to the backyard. Street parking is available.Rents total $2,295/mo ($1120 & $1,175). Tenants pay gas and electric, while the owner covers water. Owner expenses include the house meter at $20 per month and city water at approximately $90 per month, with total monthly expenses of $1878.00 (principle $225,000 loan), interest, taxes, insurance, water, and house meter). This results in positive cash flow of approximately $400 per month.Located in a convenient Wilmington neighborhood close to major routes, shopping, and city amenities, this property offers reliable rental income with minimal upkeep. The adjacent property at 1114 S. Rodney SOLD on 9/4/26 for $250,000Licensed fee appraisal was done and appraised value is $250,000. Appraisal report is available upon request.Pictures are of 1114A S. RodneyAll appointments require 24-hour notice.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $249,500 |
| Year Built: | 1940 |
| Lot Size: | 1,360.00 Sq ft |
| Opportunity Zone: | No |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-FOXROACH-DENC2107700
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