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    Royal Oak Duplex Investment Opportunity Title is generated by Realmo AI

    2009 W 14 Mile Road, Royal Oak, MI 48073

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    For Sale
    $494,900

    MULTI_FAMILY - Other - Royal Oak, MI

    Property size:
    2,027 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $244/SF
    Added:
    May 20, 2026
    Days on Market:
    3
    Last Refresh:
    May 22 at 12:06 pm

    Property Features for 2009 W 14 Mile Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
    Parking
    6
    Pets allowed
    Yes
    Interior features
    Laundry Facility
    Exterior features
    Fenced
    Fencing
    Fenced
    Standard status
    Active
    APN
    2505226003
    Size
    2,027 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Description
    T1N, R11E, SEC 5 NORDWOOD ESTATES SUB LOT 45
    Tax Annual Amount
    8686

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    1
    Number of units
    2
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Laith Bachi

    Listing agent Laith Bachi

    Listing office Community Choice Realty Inc 261 E Maple, Birmingham, MI

    Listing date May 20, 2026

    MLS# 20261036498 Listing URL

    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.

    Overview

    This well-maintained duplex presents an investment opportunity in Royal Oak, situated close to nightlife and Corewell Health facilities. The property includes two addresses, 2009 and 2011 W 14 Mile Rd. Each unit features 2 bedrooms and 1 full bathroom. The property is located on a 0.24-acre lot. Both units were fully remodeled in 2020, including new AC units, furnaces, and hot water tanks. Tenants are responsible for all separately metered utilities, while the owner is responsible for grass and snow shoveling. Ample parking is available in the rear of the home, which is enclosed by a private fence. The property is zoned for multi-family use and has a building size of 2027 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $298.1K
    NOI $26,830 @ 9.00% cap · cautious / downside scenario
    Moderate
    $383.3K
    NOI $26,830 @ 7.00% cap · market / base-case scenario
    Aggressive
    $536.6K
    NOI $26,830 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $40.1k $19.80
    − Vacancy −$1.8k −$0.89
    EGI $38.3k $18.91
    − OpEx −$11.5k −$5.67
    NOI $26.8k $13.24
    2,027 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $383.3K
    $335.4K – $447.2K (±1% cap)
    NOI $26,830 @ 7.0% cap · market cap 5.42%
    Second Best
    Apartment 5plus
    $355.2K
    $310.8K – $414.4K (±1% cap)
    NOI $24,864 @ 7.0% cap · market cap 5.02%
    Theoretical Best
    Specialty Retail
    $437.2K
    $382.6K – $510.1K (±1% cap)
    NOI $30,604 @ 7.0% cap · market cap 6.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.169759
    Latitude
    42.532571

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex in Royal Oak near nightlife and Corewell Health.
    Where is this duplex located?
    The property is located at 2009 W 14 Mile Road Royal Oak, MI.
    What is the asking price?
    The asking price for this property is $494,900.
    (248) 729-0011
    We can help!
    Listing Contact
    Laith Bachi
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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