2304 Riddle Ave APT 304, Wilmington, DE, 19806 | $916/mo Cash Flow

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2304 Riddle Ave APT 304, Wilmington, DE, 19806 | $916/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Wilmington at 2304 Riddle Ave APT 304, Wilmington, DE, 19806 offers a 11.36% rental yield on a $249,000 purchase with $2,357/mo rent. Total monthly income registers $2,357/mo, and a $1,219/mo payment leaves $916/mo available for distribution. Annual cash flow reaches $10,992/yr on $82,544 to close, and return on cash invested stands at 33.23% in year one. Equity gained on principal adds $1,607/yr while 5% annual appreciation supports $68,794 over five years. Portfolio math shows five-year ROI at 173.71% and total cumulative return in cash at $143,384. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,357/mo property income against a $1,219/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1965

N/A lot

$N/A/sqft

No HOA

More details about the property

Fabulous third floor, two-bedroom condo. This completely renovated condo includes NEW HVAC system (2024), custom built-in bookcases with storage, a renovated kitchen with stainless appliances, NEW Quartz countertops and subway tile backsplash, NEW reverse osmosis water filter system, NEW NuCore waterproof flooring, NEW carpet, FRESH paint, designer lighting, open floorplan with floor to ceiling glass patio doors. Additional features include two spacious bedrooms, primary bedroom with walk in closet, renovated main bath with marble tile flooring and additional storage in the basement. This condo is situated in the rear of the 2304 building and one of the only stacks that has river views. Enjoy outdoor entertaining on the spacious rear balcony with outstanding river and tree lined views in addition to the sound of the falls. Easy access to trails and parks, minutes from the heart of Trolley Square, this location is hard to beat! Condo fee includes parking, swimming pool, utilities (electric, gas, hot water, water/sewer), basic cable, trash, and building maintenance.

Neighborhood Data

Neighborhood data shown for ZIP Code: 19806, Wilmington, DE area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,288 (100%)
Owner Occupied HU	2,978 (47.4%)
Renter Occupied HU	2,769 (44.0%)
Vacant Housing Units	541 ( 8.6%)
Median Home Value	$472,552
Average Home Value	$509,621