Duplex with Attached
For Sale
$189,900
2288 Vivian Road, Monroe, MI 48162
MULTI_FAMILY - Monroe, MI
Property Size1,584 SF
Lot Size0.20 Acres
Price / SF$119.89
Days on Market48
Property Features for 2288 Vivian Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Basement, Bedroom 2, Bathroom 1
Interior features
Cable/Internet Avail., Hardwood Floors, Sump Pump
Exterior features
Fenced Yard, Fence Owned
Fencing
Fenced
Subdivision
Metes & Bounds
Lot features
Corner Lot
Elementary school district
Jefferson Schools-Monroe Co
Middle school district
Jefferson Schools-Monroe Co
High school district
Jefferson Schools-Monroe Co
Standard status
Active
Size
1,584 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
2684
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
Monroe Real Estate - Monroe
(734) 243-3000
Listed By:
Edward Pipis
(734) 497-0760
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 12 at 7:06AM
MLS# 50213012
Copyright © 2026 Southeastern Border Association of REALTORS®. 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 duplex includes two 2-bedroom units. Interior features include hardwood flooring and plaster walls, along with a full basement and a walk-up attic. The property also includes a sump pump and cable/internet availability, with forced-air heating.
Outside, the home offers a fenced yard with fencing that is owned. The duplex was built in 1950 and includes a 1.5-car attached garage. The lot size is 0.2 acres, and the property size is 1,584 square feet.
With public water service provided, this setup supports straightforward duplex living and can be considered for rental use given the presence of two separate 2-bedroom units.
Outside, the home offers a fenced yard with fencing that is owned. The duplex was built in 1950 and includes a 1.5-car attached garage. The lot size is 0.2 acres, and the property size is 1,584 square feet.
With public water service provided, this setup supports straightforward duplex living and can be considered for rental use given the presence of two separate 2-bedroom units.
Key Highlights
- Two 2‑bedroom units in a duplex
- Hardwood floors and plaster walls
- Full basement plus walk‑up attic
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
$14,058
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
7.40%
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%
$281,160
$281.2K
Cap Rate 7%
$200,829
$200.8K
Cap Rate 9%
$156,200
$156.2K
Market Conditions
NOI Build-Up for 1,584 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
$21.5K $13.56/SF
− Vacancy
−$1.4K −$0.88/SF
EGI
$20.1K $12.68/SF
− OpEx
−$6.0K −$3.80/SF
NOI
$14.1K $8.88/SF
Area
Monroe County, MI
Vacancy
6.50%
Lease Rate
$13.56 /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%
$281,160
Cap Rate 7%
$200,829
Cap Rate 9%
$156,200
Alternative Uses
Best Use
Multifamily LT 5
$200.8K
$175.7K – $234.3K
NOI $14,058 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$187.1K
$163.7K – $218.3K
NOI $13,098 @ 7.0% cap · market cap 6.90%
Theoretical Best
Warehouse
$1.63M
$1.43M – $1.91M
NOI $114,359 @ 7.0% cap · market cap 60.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 48162, MI
29,156
Population
12,698
Households
2.3
Avg Household Size
43
Median Age
24%
College-Educated
91%
High-School Grad
57.5 sq mi
ZIP Area
507
Density / Sq Mi
$68,801
Median Household Income
$41,678
Median Earnings
$912
Median Rent
$192,200
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?
Duplex - Duplex featuring two 2-bedroom units with hardwood floors, a full basement, and an attached garage.
Where is this duplex located?
The property is located at 2288 Vivian Road Monroe, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two 2‑bedroom units in a duplex; Hardwood floors and plaster walls; Full basement plus walk‑up attic
