Brick Ranch
For Sale
$250,000
18557 Roscommon Street, Harper Woods, MI 48225
MULTI_FAMILY - Ranch - Harper Woods, MI
Property Size720 SF
Lot Size0.12 Acres
Price / SF$347.22
Days on Market45
Property Features for 18557 Roscommon Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 4, Bathroom 1, Basement, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 5
Subdivision
Chatham Village Add
Elementary school district
Harper Woods
Middle school district
Harper Woods
High school district
Harper Woods
Directions
Kelly & Moross
Standard status
Active
APN
42001040004000
Size
720 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
618E4 LOT 4 CHATHAM VILLAGE ADDITION PC 618 L69 P67 WCR
Tax Annual Amount
3410
Legal Description
618E4 LOT 4 CHATHAM VILLAGE ADDITION PC 618 L69 P67 WCR
Utilities
Heating system
Forced Air
Water source
Public
Amenities
full basements
private fenced backyards
Building Details
Year built
1944
Floors in Building
1
Number of units
3
Building materials
Brick
Architectural style
Ranch
Listing Agency:
MVPS Realtors
(586) 999-5153
Listed By:
Michael Hines · License #6501366520
(586) 222-1411
Added: Jul 8
Changed: Aug 12
Last Checked: Aug 21 at 4:06AM
MLS# 20261051387
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 brick ranch triplex package includes one full duplex and one half duplex, totaling three fully occupied units. Each unit has a full basement, a private fenced backyard, and its own detached garage. Forced-air heating and public water service are in place, supporting straightforward day-to-day operations.
The property sits on a 0.12-acre lot and was built in 1944. It is located near Kelly Road and 8 Mile, in Harper Woods (Wayne County), within Residential zoning.
The units are currently tenant occupied. An accepted offer is required prior to viewing the interiors, and tenants should not be disturbed or approached without a confirmed appointment.
The property sits on a 0.12-acre lot and was built in 1944. It is located near Kelly Road and 8 Mile, in Harper Woods (Wayne County), within Residential zoning.
The units are currently tenant occupied. An accepted offer is required prior to viewing the interiors, and tenants should not be disturbed or approached without a confirmed appointment.
Key Highlights
- Three fully occupied units as part of a duplex and half‑duplex package
- 0.12‑acre lot
- Brick construction with ranch architecture
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
$7,069
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
2.83%
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%
$141,380
$141.4K
Cap Rate 7%
$100,986
$101.0K
Cap Rate 9%
$78,544
$78.5K
Market Conditions
NOI Build-Up for 720 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
$10.8K $15.00/SF
− Vacancy
−$702 −$0.98/SF
EGI
$10.1K $14.03/SF
− OpEx
−$3.0K −$4.21/SF
NOI
$7.1K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$141,380
Cap Rate 7%
$100,986
Cap Rate 9%
$78,544
Alternative Uses
Best Use
Multifamily LT 5
$101.0K
$88.4K – $117.8K
NOI $7,069 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$92.7K
$81.1K – $108.2K
NOI $6,491 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$133.3K
$116.6K – $155.5K
NOI $9,331 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Explore this area
Business Placement
Demographics for 48225, MI
15,862
Population
6,271
Households
2.5
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
2.7 sq mi
ZIP Area
5,875
Density / Sq Mi
$59,248
Median Household Income
$40,558
Median Earnings
$1,304
Median Rent
$140,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick triplex with three tenant-occupied units, each with a full basement, fenced backyard, and detached garage.
Where is this triplex located?
The property is located at 18557 Roscommon Street Harper Woods, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three fully occupied units as part of a duplex and half‑duplex package; 0.12‑acre lot; Brick construction with ranch architecture
