625 HORTON Street Detroit, MI 48202
MULTI_FAMILY - Other - Detroit, MI
- Added:
- Oct 11, 2024
- Days on Market:
- 638
- Last Refresh:
- Jul 10 at 7:06 pm
Property Features for 625 HORTON Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Basement, Bathroom 1
- Parking
- 2
- Pets allowed
- Yes
- Standard status
- Active
- APN
- W03I001858S
- Size
- 2,146 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- N HORTON 142 HIBBARD BAKERS L7 P90 PLATS, W C R 3/90 30 X 125
- Tax Annual Amount
- 1569
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1913
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick
- Architectural style
- Other
Listing agent Jeff Glover License #6501317808 (734) 740-8404
Listing office KW Professionals 789 W Ann Arbor Trail, Plymouth, MI (734) 459-4700
Listing date Oct 11, 2024
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Investment Insights
Based on property information with market context.
Key Highlights
- Two‑unit multifamily with identical layouts; each unit is approx 1,073 SF
- Top‑to‑bottom renovation including upgraded soffits, windows, electrical, plumbing, and paint
- Each unit features a well‑designed kitchen with stainless steel appliances, ample cabinet/storage, and marble‑tiled floors
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 | $37.3k | $17.40 |
| − Vacancy | −$2.3k | −$1.07 |
| EGI | $35.0k | $16.33 |
| − OpEx | −$10.5k | −$4.90 |
| NOI | $24.5k | $11.43 |
