Brick Duplex with Sun
New
For Sale
$300,000
2254 Taylor Street, Detroit, MI 48206
Multifamily, 2 Story, Detroit, MI
Property Size2,614 SF
Lot Size0.10 Acres
Price / SF$114.77
Days on Market5
Property Features for 2254 Taylor Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 5
Pets allowed
Yes
Subdivision
Joy Farm Also P39
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Head West on Clairmount Ave for about one block. Turn right (north) on Taylor St. Continue north on Taylor St for approximately 0.1 mile. 2254 Taylor St will be on your right- hand side.
Standard status
Active
APN
W10I002352S
Size
2,614 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
N TAYLOR 433 JOY FARM SUB L32 P39-40 PLATS, W C R 10/99 35 X 120.50
Tax Annual Amount
1870
Legal Description
N TAYLOR 433 JOY FARM SUB L32 P39-40 PLATS, W C R 10/99 35 X 120.50
Utilities
Heating system
Forced Air
Water source
Public
Amenities
decorative fireplaces
enclosed brick sun porches
security system
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
RE/MAX Leading Edge · RE/MAX International
(313) 277-7777
Listed By:
Lauralee Snow
(313) 398-1807
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 18 at 12:06AM
MLS# 20261074268
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 1921 Colonial duplex contains 2,614 square feet across two residential units on a 0.1-acre lot. The brick exterior is complemented by decorative fireplaces, oversized trim, enclosed sun porches, and spacious living and dining areas. Each unit includes large bedrooms, updated kitchens and bathrooms, durable flooring, and separate living space. Improvements include a new roof and a professionally installed security system.
The property is located in Detroit, near Boston-Edison, New Center, Midtown, Henry Ford Hospital, and Downtown Detroit. Public water service, forced-air heating, and an asphalt roof are in place. The building is vacant and available for immediate occupancy, with Multi-Family,Residential zoning supporting its duplex configuration.
The property is located in Detroit, near Boston-Edison, New Center, Midtown, Henry Ford Hospital, and Downtown Detroit. Public water service, forced-air heating, and an asphalt roof are in place. The building is vacant and available for immediate occupancy, with Multi-Family,Residential zoning supporting its duplex configuration.
Key Highlights
- 2,614‑square‑foot duplex on a 0.1‑acre lot
- Built in 1921 with Colonial architectural styling
- Brick construction with enclosed sun porches
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
$27,423
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
9.14%
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%
$548,460
$548.5K
Cap Rate 7%
$391,757
$391.8K
Cap Rate 9%
$304,700
$304.7K
Market Conditions
NOI Build-Up for 2,614 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
$53.3K $20.40/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$49.9K $19.07/SF
− OpEx
−$22.4K −$8.58/SF
NOI
$27.4K $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%
$548,460
Cap Rate 7%
$391,757
Cap Rate 9%
$304,700
Alternative Uses
Best Use
Multifamily LT 5
$426.8K
$373.4K – $497.9K
NOI $29,874 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$391.8K
$342.8K – $457.1K
NOI $27,423 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$576.7K
$504.6K – $672.8K
NOI $40,366 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
297
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
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit property with renovated kitchens and bathrooms, separate living areas, and enclosed brick porches.
Where is this duplex located?
The property is located at 2254 Taylor Street Detroit, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,614‑square‑foot duplex on a 0.1‑acre lot; Built in 1921 with Colonial architectural styling; Brick construction with enclosed sun porches
