Seller's Agent in 2022
Mike Porro
Long & Foster
(302) 383-6520
5 in this area
55 Total Sales
1211 Delaware Ave Wilmington, DE 19806
Delaware Avenue NeighborhoodEstimated Value: $1,477,501
--
Bed
--
Bath
5,200
Sq Ft
$284/Sq Ft
Est. Value
Highlights
- 0.17 Acre Lot
- 3 Fireplaces
- Ceiling Fan
- Victorian Architecture
- Multiple cooling system units
- Hot Water Heating System
About This Home
As of October 2022Welcome to the Spruance House! This is a rare opportunity to own a mixed use building in the heart of Trolley Square. This property features professional office space on the ground level, plus 5 apartments above. This Second Empire Victorian home was built in 1878 by William Corbit Spruance, a Delaware State Supreme Court Justice. The Spruance House is a Nationally Registered Historic Property eligible for State and Federal Historic Tax Credits, as well as State and Federal Grants. The first floor is currently occupied by Design Collaborative, Inc. who have been tenants in this location for over 30 years. There are 3 1-bedroom apartments on the second floor and 2 studio apartments on the third floor, one of which has a loft. Including the parking lot, this property currently generates over $113,000 income annually. Because of current market conditions and the exquisite nature of this property, it is likely that the final sales price will exceed the current listing price - please advise your clients accordingly.
Last Agent to Sell the Property
(302) 383-6520 mporro1301@gmail.com Long & Foster Real Estate, Inc. License #R1-0001780 Listed on: 05/27/2022
Last Buyer's Agent
datacorrect@brightmls.com Non Subscribing Office License #0225194075
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,242
Year Built
- Built in 1878
Lot Details
- 7,405 Sq Ft Lot
- Lot Dimensions are 59.70 x 123.00
Home Design
- Victorian Architecture
- Brick Exterior Construction
- Stone Foundation
Interior Spaces
- 5,200 Sq Ft Home
- Ceiling Fan
- 3 Fireplaces
Unfinished Basement
- Exterior Basement Entry
- Shelving
Parking
- On-Street Parking
- Off-Street Parking
Utilities
- Multiple cooling system units
- Central Air
- Window Unit Cooling System
- Hot Water Heating System
- Electric Water Heater
Listing and Financial Details
- Tax Lot 109
- Assessor Parcel Number 26-020.40-109
Community Details
Overview
- 4 Units
- 3-Story Building
Building Details
- Income includes apartment rentals, professional offices, parking
- Insurance Expense $5,772
- Maintenance Expense $4,800
- Operating Expense $6,075
- Net Operating Income $91,783
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 27, 2022
Closed on
Oct 14, 2022
Sold by
Argyle Enterprises Llc
Bought by
Spruance Annex Llc
Seller's Agent
Mike Porro
Long & Foster Real Estate, Inc.
Buyer's Agent
datacorrect BrightMLS
Non Subscribing Office
List Price
$1,250,000
Sold Price
$1,250,000
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$227,501
Avg. Annual Appreciation
5.45%
Original Mortgage
$937,500
Outstanding Balance
$902,025
Interest Rate
6.02%
Mortgage Type
New Conventional
Estimated Equity
$575,476
Purchase Details
Closed on
May 30, 2017
Sold by
Sparks Lee and Sparks Joan Marsh
Bought by
Argyle Enterprises L L C
Purchase Details
Closed on
Dec 6, 1997
Bought by
Argyle Enterprises L L C
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Spruance Annex Llc | -- | -- | |
| Argyle Enterprises L L C | -- | None Available | |
| Argyle Enterprises L L C | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Spruance Annex Llc | $937,500 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/14/2022 10/14/22 | Sold | $1,250,000 | 0.0% | $240 / Sq Ft |
| 06/16/2022 06/16/22 | Pending | -- | -- | -- |
| 05/27/2022 05/27/22 | For Sale | $1,250,000 | -- | $240 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $6,911 | $221,500 | $44,400 | $177,100 |
| 2023 | $6,034 | $221,500 | $44,400 | $177,100 |
| 2022 | $6,034 | $221,500 | $44,400 | $177,100 |
| 2021 | $6,024 | $221,500 | $44,400 | $177,100 |
| 2020 | $6,058 | $221,500 | $44,400 | $177,100 |
| 2019 | $10,510 | $221,500 | $44,400 | $177,100 |
| 2018 | $6,031 | $221,500 | $44,400 | $177,100 |
| 2017 | $6,020 | $221,500 | $44,400 | $177,100 |
| 2016 | $5,706 | $221,500 | $44,400 | $177,100 |
| 2015 | $9,386 | $221,500 | $44,400 | $177,100 |
| 2014 | $8,911 | $221,500 | $44,400 | $177,100 |
Source: Public Records
Agents Affiliated with this Home
-
Mike Porro
-
datacorrect BrightMLS
d
Buyer's Agent in 2022
datacorrect BrightMLS
Non Subscribing Office
Map
Source: Bright MLS
MLS Number: DENC2023300
APN: 26-020.40-109
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