34 Corbit St, Newark, DE 19711

Rarely available duplex within the city of Newark limits. This property comes with 2 separate rental permits for 4 non related people. Located at the corner of Corbit St and Wilson Rd right in the middle of Newark"s Redevelopment. Each unit is 2 bedrooms and 1 full bath with separate utilities. The real value in this property is that you should be able to remodel into 2, four bedroom 2 bath units. At that time you should be able to rent each side for $2400 per month or $57,600 per year total. One side is owner occupied the other by a tenant on a month to month lease so the income and expense figures reflex both sides being rented for $1100 per month. Landlord pays water, sewer and insurance, tenant pays their own heat, hot water, electric and cable. Settlement to coincide with sellers purchase of their new home. Within walking distance to Main St, the U of D, and public transportation. Close to I-95 and all major highways. Just a 5 minute car ride to the train Amtrak train station. If you are looking for a student rental property within the city of Newark limits look no further!!!