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sales rep | Brivity IDX

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28420 Delaware Ave , Millsboro, DE 19966
$925,000
Est. Payment: $5,058.65/mo
3000 Sqft
Status: active | Days on site: 155
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123MCR - 3255767,3386133
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House Description

This offering presents the opportunity to acquire a cash-flowing multifamily investment property located at 28420 Delaware Avenue in Millsboro, Delaware. The property consists of approximately 3,000 square feet and generates estimated rental income of $7,250 per month ($87,000 annually). Estimated annual operating expenses are approximately $12,985, resulting in an estimated net operating income of approximately $74,015. Income and expense figures are estimates and should be independently verified by prospective purchasers. The property represents an estimated 8.0% cap rate based on the reported income and expenses, providing investors with stable in-place cash flow. The asset benefits from its location within the growing Sussex County market, where continued residential development and population growth are supporting strong rental demand. This is a compelling opportunity for investors seeking a performing multifamily asset with strong income, low expenses, and long-term upside in one of Delaware’s fastest-growing regions.

Highlights

Listed by Wesley Cox , 4105432421 and Trent M Spicer-Davis , 4105432440 SVN/Miller Commercial Real Estate , 4105432440. Bright MLS

Property Type

Commercial Sale

Year Built

2015

County

Sussex

Area

Indian River Hundred (31008)

School District

Indian River

Listing ID

DESU2112076

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Interior Features

Water:Public

Exterior Features

Lot:Not New Construction,Horse Property: No
Lot Dimensions:100.00 x 300.00
Garage Capacity:6
Zoning:GR
Sewer:Public Sewer
Parking Features:Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Principal Interest
$5,059
Taxes
$78

Home Price

$925,000

Loan Details

30 yrs
7.271%

Down Payment

20%
$185,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,058.65

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,058.65 $77.50 $0.00 $5,136.15
Yearly $60,703.79 $930.00 $0.00 $61,633.79
Total $1,821,113.69 $27,900.00 $0.00 $1,849,013.69
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Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Millsboro, DE).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bright MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-13T19:09:10.000Z

© 2026 Bright MLS