Discover a profitable value-add multi-family investment in the heart of Landenberg. This income-producing 4-unit property is set in a peaceful country environment with strong rental demand and long-term tenant stability. With a current total rent roll of $4,950/month and value-add potential this property offers both immediate cash flow and excellent growth upside. Each unit features its own unique layout and charm: one 3-bedroom 1-bath unit, one 2-bedroom 1-bath unit, and two 1-bedroom 1-bath units. Rents are strong, and cosmetic renovation of the 1BR unit could boost income $400/month. Additional upside comes from utility restructuring — propane/heat and well expenses are currently owner-paid but may be transferred to tenants to improve operating margins by $6000/year. There is also potential to add coin-operated laundry for an extra revenue stream and added convenience. Located in highly desirable Landenberg, tenants enjoy the quiet rural setting while remaining close to Newark, DE, Kennett Square, local amenities, and top-rated schools. 103 Mercer Mill Rd checks all the boxes for stable returns with room to grow.
For sale
Price cut: $25K (12/17)
$624,900
103 Mercer Mill Rd, Landenberg, PA 19350
7beds
--baths
3,770sqft
Est.:
Quadruplex
Built in 1880
-- sqft lot
$590,100 Zestimate®
$166/sqft
$-- HOA
What's special
Peaceful country environmentUnique layout and charmQuiet rural setting
- 72 days |
- 1,925 |
- 60 |
Zillow last checked: 8 hours ago
Listing updated: December 17, 2025 at 05:07am
Listed by:
Aaron Jones 610-850-3535,
Iron Valley Real Estate Exton 610-561-1111
Source: Bright MLS,MLS#: PACT2111772
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
Basement
- Area: 0
Heating
- Hot Water, Propane
Cooling
- None
Appliances
- Included: Electric Water Heater, Water Heater
Features
- Has fireplace: No
Interior area
- Total structure area: 3,770
- Total interior livable area: 3,770 sqft
Video & virtual tour
Property
Parking
- Total spaces: 7
- Parking features: Off Street
Accessibility
- Accessibility features: None
Features
- Pool features: None
Lot
- Size: 0.6 Acres
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 6005 0054
- Zoning: R1
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subtype: Quadruplex
Materials
- Stone
- Foundation: Stone
- Roof: Shingle
Condition
- New construction: No
- Year built: 1880
Utilities & green energy
- Sewer: Private Sewer
- Water: Well
Community & HOA
Location
- Region: Landenberg
- Municipality: NEW GARDEN TWP
Financial & listing details
- Price per square foot: $166/sqft
- Tax assessed value: $146,790
- Annual tax amount: $6,375
- Date on market: 10/31/2025
- Listing agreement: Exclusive Agency
- Listing terms: Cash,Conventional,Other,Negotiable
- Exclusions: Tenants Personal Property, Propane Tank
- Ownership: Fee Simple
- Total actual rent: 59400
Estimated market value
$590,100
$561,000 - $620,000
$1,603/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/17/2025 | Price change | $624,900-3.8%$166/sqft |
Source: | ||
| 10/31/2025 | Listed for sale | $649,900-38.8%$172/sqft |
Source: | ||
| 7/5/2023 | Sold | $1,062,500-18.2%$282/sqft |
Source: | ||
| 3/26/2023 | Contingent | $1,299,000$345/sqft |
Source: | ||
| 10/28/2022 | Listed for sale | $1,299,000$345/sqft |
Source: | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$3,807/mo
Principal & interest
$2974
Property taxes
$614
Home insurance
$219
Climate risks
Neighborhood: 19350
Nearby schools
GreatSchools rating
- 7/10New Garden El SchoolGrades: 1-5Distance: 2.6 mi
- 5/10Kennett Middle SchoolGrades: 6-8Distance: 1.8 mi
- 5/10Kennett High SchoolGrades: 9-12Distance: 5.4 mi
Schools provided by the listing agent
- District: Kennett Consolidated
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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