Renovated Duplex with Unfinished
For Sale
$269,900
368 Piper Boulevard, Detroit, MI 48215
MULTI_FAMILY - Other - Detroit, MI
Property Size2,296 SF
Lot Size0.13 Acres
Price / SF$117.55
Days on Market95
Property Features for 368 Piper Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Basement
Pets allowed
Yes
Subdivision
Riverside Blvd
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
directions can be pulled from a phone
Standard status
Active
APN
W21I051922S
Size
2,296 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
E-PIPER 165 RIVERSIDE BLVD SUB L37 P93 PLATS, W C R 21/419 40 X 145
Tax Annual Amount
1955
Legal Description
E-PIPER 165 RIVERSIDE BLVD SUB L37 P93 PLATS, W C R 21/419 40 X 145
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Pearl Real Estate
(586) 489-7286
Listed By:
Meghan Schubring · License #6504410176
(586) 489-7286
Added: Apr 27
Changed: Jul 11
Last Checked: Jul 30 at 5:06PM
MLS# 20261028662
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 turnkey duplex offers two renovated residential units, each with three bedrooms. The units have separate gas and electric meters. Interior upgrades include new kitchens and new bathrooms, along with fresh paint throughout both units and the basement.
Significant exterior and infrastructure updates have been completed, including new windows and new roof shingles. Major plumbing work includes replacement of the main drain and installation of backflow prevention. In addition, the property includes a bonus unfinished third-floor attic, providing additional flexible space for future finishing.
The layout supports straightforward duplex ownership with two self-contained units and separate metering for each side. With the home freshly updated throughout and key expense items addressed, the property is positioned for an operator seeking a move-in ready rental setup. The sale also includes property management for one year.
Significant exterior and infrastructure updates have been completed, including new windows and new roof shingles. Major plumbing work includes replacement of the main drain and installation of backflow prevention. In addition, the property includes a bonus unfinished third-floor attic, providing additional flexible space for future finishing.
The layout supports straightforward duplex ownership with two self-contained units and separate metering for each side. With the home freshly updated throughout and key expense items addressed, the property is positioned for an operator seeking a move-in ready rental setup. The sale also includes property management for one year.
Key Highlights
- Brick duplex built in 1924 with forced‑air heating and public water service
- Turnkey layout with both units featuring 3 bedrooms and separate gas & electric meters
- Fully renovated throughout with new kitchens and new bathrooms in both units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.8k | $20.40 |
| − Vacancy | −$3.0k | −$1.33 |
| EGI | $43.8k | $19.07 |
| − OpEx | −$19.7k | −$8.58 |
| NOI | $24.1k | $10.49 |
2,296 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$374.9K
$328.0K – $437.3K
NOI $26,240 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$344.1K
$301.1K – $401.5K
NOI $24,087 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$506.5K
$443.2K – $590.9K
NOI $35,455 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
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 - Turnkey duplex featuring two fully renovated 3-bedroom units with separate utilities and an unfinished third-floor attic space.
Where is this duplex located?
The property is located at 368 Piper Boulevard Detroit, MI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Brick duplex built in 1924 with forced‑air heating and public water service; Turnkey layout with both units featuring 3 bedrooms and separate gas & electric meters; Fully renovated throughout with new kitchens and new bathrooms in both units
