Renovated Duplex with
For Sale
$322,500
1645 TAYLOR Street, Detroit, MI 48206
Multifamily, 3 Story, Detroit, MI
Property Size2,668 SF
Lot Size0.09 Acres
Price / SF$120.88
Days on Market65
Property Features for 1645 TAYLOR Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Basement, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Pets allowed
Yes
Interior features
Cable Available, Circuit Breakers, Entrance Foyer, Laundry Facility
Exterior features
Chimney Cap(s), Lighting
Subdivision
STOTTS SUB (PLATS)
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
From Rosa Parks turn East on Taylor
Standard status
Active
APN
W08I002575S
Size
2,668 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Property exempt from Ad Valorem taxes and assessed on the Special Act Roll pursuant to PA 261 of 2003 expiring 12/30/2027. S TAYLOR 104 STOTTS SUB L30 P61 PLATS, W C R 8/117 30 X 127
Tax Annual Amount
3616
Legal Description
Property exempt from Ad Valorem taxes and assessed on the Special Act Roll pursuant to PA 261 of 2003 expiring 12/30/2027. S TAYLOR 104 STOTTS SUB L30 P61 PLATS, W C R 8/117 30 X 127
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
balcony
Building Details
Year built
1916
Floors in Building
3
Number of units
2
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Leading Edge · RE/MAX International
(734) 404-8800
Listed By:
Ryan E Kain · License #6501401697
(313) 277-7777
Added: Jul 24
Changed: Sep 14
Last Checked: Sep 26 at 11:06AM
MLS# 20261056462
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-unit residential property contains 2,668 square feet on a 0.09-acre lot and was fully gut renovated. The kitchens have white shaker cabinetry, butcher block countertops, and stainless steel appliances, while the bathrooms include new tile, updated fixtures, and double vanities. Additional improvements include Romex wiring, PEX and PVC plumbing, vinyl windows, an asphalt shingle roof, refinished hardwood floors, forced-air heating, central air, and electric on-demand water heaters.
Outdoor features include a covered front porch, an upper-unit balcony, and a small one-car garage accessed from the alley. Gas and electric service are separately metered, while water is supplied through a single meter. The property is served by public water, carries Residential zoning, and was built in 1916.
Outdoor features include a covered front porch, an upper-unit balcony, and a small one-car garage accessed from the alley. Gas and electric service are separately metered, while water is supplied through a single meter. The property is served by public water, carries Residential zoning, and was built in 1916.
Key Highlights
- Two‑unit property with 2,668 square feet on a 0.09‑acre lot
- Full gut renovation with updated kitchens and bathrooms
- Upper‑level unit includes an additional third‑floor room
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
$27,989
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
8.68%
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%
$559,780
$559.8K
Cap Rate 7%
$399,843
$399.8K
Cap Rate 9%
$310,989
$311.0K
Market Conditions
NOI Build-Up for 2,668 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
$54.4K $20.40/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$50.9K $19.07/SF
− OpEx
−$22.9K −$8.58/SF
NOI
$28.0K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /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%
$559,780
Cap Rate 7%
$399,843
Cap Rate 9%
$310,989
Alternative Uses
Best Use
Multifamily LT 5
$435.6K
$381.1K – $508.2K
NOI $30,491 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$399.8K
$349.9K – $466.5K
NOI $27,989 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$588.6K
$515.0K – $686.7K
NOI $41,200 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated kitchens, tiled bathrooms, separate gas and electric meters, and a rear one-car garage.
Where is this duplex located?
The property is located at 1645 TAYLOR Street Detroit, MI.
What is the asking price?
The asking price for this property is $322,500.
What are key features of this property?
This property features: Two‑unit property with 2,668 square feet on a 0.09‑acre lot; Full gut renovation with updated kitchens and bathrooms; Upper‑level unit includes an additional third‑floor room
