Renovated Duplex with Private
New
For Sale
$329,900
3000 Van Dyke Street, Detroit, MI 48214
MULTIFAMILY, Detroit, MI
Property Size2,300 SF
Lot Size0.08 Acres
Price / SF$143.43
Days on Market5
Property Features for 3000 Van Dyke Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Basement, Laundry Room, Bedroom 2, Bedroom 1
Patio and Porch features
Porch
Interior features
Cable/Internet Avail., Hardwood Floors
Exterior features
Porch, Exterior Balcony
Appliances
Dishwasher, Dryer, Range/Oven, Refrigerator, Washer
Subdivision
Worcesters
Lot features
Subdivision
Elementary school district
Detroit City School District
Middle school district
Detroit City School District
High school district
Detroit City School District
Standard status
Active
APN
17009267.
Size
2,300 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5522
Utilities
Heating system
Forced Air
Water source
Public
Amenities
shared basement laundry/storage area
Building Details
Year built
1914
Floors in Building
2
Number of units
2
Architectural style
Colonial
Listing Agency:
Century 21 Professionals · Century 21 Real Estate
(586) 731-8180
Listed By:
Laurie Davis · License #6501315922
(586) 321-5507
Added: Sep 22
Last Checked: Sep 26 at 11:06AM
MLS# 50222625
Copyright © 2026 Multiple Listing Service MiRealSource. 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.
Renovated duplex with two residential units, each offering 2 bedrooms and 1 bathroom. The property contains 2,300 square feet on a 0.08-acre lot and was built in 1914 in a Colonial architectural style. Each unit has a private entrance, while the basement provides shared laundry and storage space.
Interior features include hardwood floors and cable/internet availability. Appliances include a dishwasher, dryer, range/oven, refrigerator, and washer. The property also offers a porch, exterior balcony, forced-air heating, and public water service. Located at 3000 Van Dyke Street in Detroit, the property is adjacent to Indian Village and north of West Village.
Interior features include hardwood floors and cable/internet availability. Appliances include a dishwasher, dryer, range/oven, refrigerator, and washer. The property also offers a porch, exterior balcony, forced-air heating, and public water service. Located at 3000 Van Dyke Street in Detroit, the property is adjacent to Indian Village and north of West Village.
Key Highlights
- Renovated duplex with 2 units, each offering 2 bedrooms and 1 bathroom
- 2,300 square feet on a 0.08‑acre lot
- Private entrance for each unit
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
$26,286
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
7.97%
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%
$525,720
$525.7K
Cap Rate 7%
$375,514
$375.5K
Cap Rate 9%
$292,067
$292.1K
Market Conditions
NOI Build-Up for 2,300 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
$40.0K $17.40/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$37.6K $16.33/SF
− OpEx
−$11.3K −$4.90/SF
NOI
$26.3K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /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%
$525,720
Cap Rate 7%
$375,514
Cap Rate 9%
$292,067
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,129 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
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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 - Two-bedroom units feature hardwood floors, individual entrances, and shared basement laundry and storage.
Where is this duplex located?
The property is located at 3000 Van Dyke Street Detroit, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Renovated duplex with 2 units, each offering 2 bedrooms and 1 bathroom; 2,300 square feet on a 0.08‑acre lot; Private entrance for each unit
