403 Mt Vernon Street, Detroit, MI 48202
- Added:
- Jun 17, 2025
- Days on Market:
- 363
- Last Refresh:
- Jun 14 at 6:06 am
Property Features for 403 Mt Vernon Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
- Pets allowed
- Yes
- Exterior features
- Fenced
- Fencing
- Fenced
- Standard status
- Pending
- APN
- 01002413
- Size
- 1,853 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Description
- PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2021. N MT VERNON 112KOCHS SUB L8 P14 PLATS, WCR 1/108 33.3 X 110
- Tax Annual Amount
- 34
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1915
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Wood
- Architectural style
- Colonial
Listing agent Alan Davidov License #6504431098 (248) 590-0800
Listing office KW Domain 210 S Old Woodward Ave Suite 200, Birmingham, MI (248) 590-0800
Listing date Jun 17, 2025
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.
HighLights
- Turnkey 2‑unit property at 415 Mt Vernon in Detroit’s North End, with long‑term tenants generating steady income
- Each unit has 2 bedrooms and 1 full bathroom
- Fully renovated with updated roof, windows, electrical, plumbing, furnace, water heater, and fresh exterior paint
- Double lot included: 403 and 407 Mt Vernon also included; fully fenced with gated off‑street parking
- Central air and forced‑air heating; public water supply
- Colonial‑style home built in 1915 with basement and 2 full baths total
Overview
Local Financial Insights For Multifamily LT 5
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 | $32.2k | $17.40 |
| − Vacancy | −$2.0k | −$1.07 |
| EGI | $30.3k | $16.33 |
| − OpEx | −$9.1k | −$4.90 |
| NOI | $21.2k | $11.43 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.072275
- Latitude
- 42.377662
