Brick Duplex with Updated
For Sale
$140,000
14615 - 14617 Winthrop Street, Detroit, MI 48227
Multifamily, 2 Story, Detroit, MI
Property Size1,217 SF
Lot Size0.13 Acres
Price / SF$115.04
Days on Market95
Property Features for 14615 - 14617 Winthrop Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4
Pets allowed
Yes
Interior features
Smoke Alarm, Laundry Facility
Exterior features
Fenced
Fencing
Fenced
Subdivision
Rugby
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
North Of Grand River Avenue And West Of Greenfield Road
Standard status
Active
APN
W22I052385S
Size
1,217 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
W WINTHROP S 20 FT 114 N 20 FT 115 RUGBY SUB L29 P75 PLATS, WCR 22/18 40 X 143.65
Tax Annual Amount
5774
Legal Description
W WINTHROP S 20 FT 114 N 20 FT 115 RUGBY SUB L29 P75 PLATS, WCR 22/18 40 X 143.65
Utilities
Heating system
Forced Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1929
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
Amy Dunlap · License #6501400853
(248) 798-0517
Added: Jun 12
Changed: Sep 13
Last Checked: Sep 14 at 1:06PM
MLS# 20261044307
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story brick duplex includes an upper unit at 14617 Winthrop Street and a lower unit at 14615 Winthrop Street. Each apartment has two bedrooms and one bathroom, with renovated kitchens featuring soft-close cabinetry, luxury vinyl plank flooring, updated lighting, refreshed bathrooms, and new carpet in the bedrooms. Both units also include their own laundry room.
The property includes a 1,075-square-foot shared basement, a fenced exterior, asphalt roofing, forced-air heating, and public water. Interior updates were completed in 2026. The 0.13-acre residential property is located in Detroit’s West Side, near major highways, schools, shopping, and parks.
The property includes a 1,075-square-foot shared basement, a fenced exterior, asphalt roofing, forced-air heating, and public water. Interior updates were completed in 2026. The 0.13-acre residential property is located in Detroit’s West Side, near major highways, schools, shopping, and parks.
Key Highlights
- Two‑story brick duplex at 14615 - 14617 Winthrop Street, Detroit, MI 48227
- Each unit includes 2 bedrooms and 1 bathroom
- 2026 interior updates include kitchens, bathrooms, flooring, lighting, and bedroom carpet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,299
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$245,980
$246.0K
Cap Rate 7%
$175,700
$175.7K
Cap Rate 9%
$136,656
$136.7K
Market Conditions
NOI Build-Up for 1,217 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.1K $19.80/SF
− Vacancy
−$1.7K −$1.43/SF
EGI
$22.4K $18.37/SF
− OpEx
−$10.1K −$8.27/SF
NOI
$12.3K $10.11/SF
Area
ZIP 48227
Vacancy
7.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$245,980
Cap Rate 7%
$175,700
Cap Rate 9%
$136,656
Alternative Uses
Best Use
Multifamily LT 5
$198.0K
$173.3K – $231.0K
NOI $13,860 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$175.7K
$153.7K – $205.0K
NOI $12,299 @ 7.0% cap · market cap 8.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer modern finishes, private laundry rooms, and a shared basement in Detroit’s West Side.
Where is this duplex located?
The property is located at 14615 - 14617 Winthrop Street Detroit, MI.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two‑story brick duplex at 14615 - 14617 Winthrop Street, Detroit, MI 48227; Each unit includes 2 bedrooms and 1 bathroom; 2026 interior updates include kitchens, bathrooms, flooring, lighting, and bedroom carpet
