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$1,200,000 Just Listed

  • For Sale
  • Active
  • Apartment
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Turnkey 9-unit multifamily investment in Dover, surrounded by historic character and ongoing area revitalization. Stabilized asset producing approximately $11,700 per month (4-1-26) in rental income, plus additional income from on-site central washer and dryer facilities. Tenants pay their own gas heat and electric. Owner pays water, sewer, trash, and central hot water. Property has seen numerous recent improvements including updated windows, interior upgrades, select new kitchens, and recently installed flooring in most units. Hallways have been refreshed with new flooring and paint. Capital improvements include a new fire escape and some newer heating systems. Strong in-place income with additional ancillary revenue and continued upside through future unit improvements and long-term rental demand in the Dover market. Ideal for investors seeking a stabilized asset with proven cash flow.

Full Property Details for 26 S State St

General

  • Price: $1,200,000
  • Taxes: $4,757 (2025)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSPhilly
  • MLS ID: DEKT2044538
  • Updated: 3/13/2026
  • Added to Site: 3 day(s) ago

Business

  • Business Type: Apartment Building

Interior

  • Flooring: Hardwood, Luxury Vinyl Tile

Rooms

Bathrooms

  • Restrooms: 9

Additional Information

  • Security/Safety: Main Entrance Lock

Parking

  • Total Spaces: 4
  • Parking Features: Private
  • Parking Type: On Street, Parking Lot

Location

  • Area: Capital (30802)
  • County: KENT
  • Building Name: NONE AVAILABLE
  • Cross Streets: Division
  • Driving Directions: From 13 West Division St. Left on S. State St. Property on right.
  • Location Details: Downtown
  • City Limits: Yes

Heating & Cooling

  • Cooling Type: None
  • Heating Type: 90% Forced Air
  • Heating Fuel: Natural Gas
  • Water Heater: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Natural Gas Available

Structural Information

  • Construction: Frame
  • Foundation: Block, Brick/Mortar
  • Entry Floor Number: 1
  • Stories/Levels: 3
  • Building Size: 7030
  • Year Built: 1900
  • Year Built Source: Assessor
  • Property Condition: Good

Unit Information

  • # Tenants: Multiple

Lot Features

  • Lot Size (Acres): 0.17
  • Lot Size (Sq. Ft.): 7,492
  • Lot Size Source: Assessor
  • Lot Dimensions: 0.17 x 0.00
  • Zoning: RG0
  • Lot Description: Rear Yard

Financial Considerations

  • Price Per Sq. Ft.: $170.7
  • Assessment Year: 2025
  • School Tax: $4,257
  • City/TownTax: $2,202
  • City/TownTax Freq: Annually
  • County Tax: $459
  • County Tax Freq: Annually
  • Tax w/Assessment: $802,500
  • Tax Amount: $4,757
  • Tax Year: 2025
  • Owner Pays: Lawn/Shrub Care, Sewer, Trash Collection, Water

Disclosures and Reports

  • Ownership: Fee Simple
  • Investment: Yes
  • Lot Number: 2300-000

Listed by RE/MAX Horizons, Steven B. Schmidt

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Listing agent

— 26 S State St —

  • Steven B. Schmidt

    RE/MAX Horizons

Listing Office Email: steve@delawarerealestate.com

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 26 S State St

School District:Capital School District
NameGradesDistance
Booker T. Washington Elementary School
901 Forest Street, Dover, DE 19904
K-40.7 mi
Central Middle School, Dover, DE
211 Delaware Avenue, Dover, DE 19901
7-80.3 mi
Dover High School
One Dover High Drive, Dover, DE 19904
9-122.6 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 26 S State St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/13/2026
Listed
$1,200,000
33.33%
MLS
2/22/2023
Sold
$900,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 26 S State St

Year
Property Taxes
Change
Tax Assessment
Change
2023
$1,690
—
$802,500
1298%
2023
$1,690
-65%
$57,400
—
2022
$4,887
58%
$57,400
—
2021
$3,093
103%
$57,400
—
2020
$1,520
6%
$57,400
—
2019
$1,437
11%
$57,400
—
2017
$1,292
—
$57,400
—
2017
$1,292
—
$57,500
—
2016
$1,297
—
$57,500
—
2015
$1,295
—
$57,500
—
2014
$1,299
-1%
$57,500
—
2013
$1,315
—
$57,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by RE/MAX Horizons, Steven B. Schmidt

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26 S State Street, Dover, DE 19901 (MLS# DEKT2044538) is a Apartment property. 26 S State Street is currently listed for $1,200,000 and was received on March 13, 2026. Want to learn more about 26 S State Street? Do you have questions about finding other Apartment real estate for sale in Dover? You can browse all Dover real estate or contact a Coldwell Banker agent to request more information.

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