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Sold on 04/28/2026
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118 W Division St, Dover, DE 19901

  • $564,500

    Last sold 04/28/2026 after 60 Days

  • —

    bed

  • —

    bath

  • 3,432

    Sqft ($164/Sqft)

Multi-family not for sale
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About 118 W Division St

Property type Multi-family
Neighborhood
Year built 1900
HOA fee $0/month
Lot size 3,049 Sqft
Movoto estimate
Rental estimate
Property description
Fully stabilized 5-unit investment opportunity in the heart of Downtown Dover. All units recently leased within the past two months, providing immediate, reliable cash flow. Four of the five units have been refreshed/updated, reducing near-term capital needs for a new owner. Rents supported and currently at allowable maximum levels, offering strong and consistent income performance. Tenants pay their own utilities, keeping operating expenses low. Property is located within the Downtown Dover revitalization area with ongoing investment, redevelopment, and long-term growth potential nearby. Zoned C-1A, allowing flexible mixed-use possibilities including office, or small commercial applications Turnkey, stabilized rental with strong cap rate potential and minimal vacancy risk.
Listed by
Listing Agent - Steven B. Schmidt
Listing Office - RE/MAX Horizons
Source: Bright MLS mls logo
MLS#DEKT2044364 • last updated 2 months ago
Movoto checked Bright MLS for data 5 minutes ago
Overview
Cooling/AC None, Electric
Heating Oil
Levels/Style Other
Type Multi-Family
SubType Other
Status Closed
SqFt 3432
Lot Size (SqFt) 3049
Lot Size (Acres) 0.07
County Tax 225, Annually
City/ Town Tax 1028
School Tax 2081
Tax: Assessed Value 392300
Annual Property Tax 2325
Year Built 1900
Condition Good
New Construction (Y/N) N
Foreclosure (Y/N) N
Interior
Basement Dirt Floor
Accessibility Features None
Exterior
Roof Pitched
Construction Vinyl Siding
Foundation Crawl Space
Parking Desc On Street
Exterior Features Sidewalks, Street Lights
Existing Structures Above Grade, Below Grade
Amenities / Utilities
Sewer/ Septic Public Sewer
Electricity Circuit Breakers
Pool No Pool
Location
Water Source Public
School District CAPITAL
Directions N. Dupont Hwy, To W. Division St. Property On Left.
Zoning C1A
Multifamily Details
# 1-Bedroom Units 5
Expense: Insurance 4100
$555K
Range: $500K-$611K
Last 30 days 
Rental est.: $1,439/month
Gross rent multiplier: 32.7
  • Apr 2026
    mls logo MLS # DEKT2044364
  • Apr 28, 2026 Sold
    $564,500 (-5.8%)
  • Mar 19, 2026 Pending
    —
  • Feb 17, 2026 Listed
    $599,000 (+299.3%)
  • Nov 2016
    mls logo MLS # 6601678
  • Nov 18, 2016 Sold
    $150,000
  • Oct 1, 2016 Pending
    —
  • Aug 23, 2016 Price Change
    $170,000 (-2.9%)
  • Nov 11, 2015 Price Change
    $175,000 (-2.8%)
  • Jun 30, 2015 Listed
    $180,000 (+5.9%)
  • Nov 2016
    mls logo MLS # 1002646150
  • Nov 18, 2016 Sold
    $150,000 (-11.8%)
  • Jun 30, 2015 Listed
    $170,000 (-5.6%)
  • Jul 2014
    mls logo MLS # 5993661
  • Jul 28, 2014 Price Change
    $180,000 (-10.0%)
  • Jun 4, 2014 Price Change
    $200,000 (-4.8%)
  • Jul 25, 2013 Price Change
    $210,000 (-4.5%)
  • Jan 17, 2012 Listed
    $220,000
  • 118 W Division St
    $564K
  • Downtown Dover
    $237K 0% y/y
  • 19901
    $369K +15% y/y
  • Dover
    $385K +11% y/y
No chart available
Statistics calculated by Movoto

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5/10
Booker T. Washington Elementary School
public Grades K-4
Capital School District
2/10
William Henry Middle School
public Grades 5-6
Capital School District
4/10
Central Middle School
public Grades 7-8
Capital School District
3/10
Dover High School
public Grades 9-12
Capital School District
Source: GreatSchools.org © 2026. All rights reserved.

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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Movoto participates, and is provided by BRIGHT through a licensing agreement.The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 7/26/2026. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closedor are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose. BRIGHTMLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually solddue to reporting errors.
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