Renovated Two-Unit
New
For Sale
$479,900
7436 Oakland Street, Detroit, MI 48211
Multifamily, 2 Story, Detroit, MI
Property Size2,166 SF
Lot Size0.08 Acres
Price / SF$221.56
Days on Market6
Property Features for 7436 Oakland Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Basement, Bathroom 1, Bedroom 1, Bedroom 2
Pets allowed
Yes
Subdivision
Standishs
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
N East Grand Blvd E On Oakland
Standard status
Active
APN
W05I004674S
Size
2,166 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
E OAKLAND 67 STANDISHS SUB L8 P19 PLATS, W C R 5/141 30 X 122
Tax Annual Amount
4352
Legal Description
E OAKLAND 67 STANDISHS SUB L8 P19 PLATS, W C R 5/141 30 X 122
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Realtyflo Inc
(313) 466-7253
Listed By:
Marta Kopania · License #6501424283
(734) 301-6553
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 14 at 9:06AM
MLS# 20261072677
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 two-story duplex contains two residences, each with 2 bedrooms and 1 full bathroom, within approximately 2,166 square feet. A full-gut renovation has updated the interiors with wide-plank flooring, recessed lighting, oversized windows, exposed-brick accents, quartz kitchen counters, contemporary cabinetry, stainless-steel appliances, modern vanities, tiled bathrooms, and glass-enclosed showers. The building was constructed in 1910 with brick materials and forced-air heating.
The property is currently vacant, allowing a new owner to occupy one unit, lease both residences, or establish new leases without inheriting existing tenancy. The 0.08-acre site is zoned Multi-Family and is located at 7436 Oakland Street in Detroit, near New Center, Midtown, Wayne State University, the College for Creative Studies, Henry Ford Hospital, the Fisher Building, the QLINE, Eastern Market, and Downtown Detroit.
The property is currently vacant, allowing a new owner to occupy one unit, lease both residences, or establish new leases without inheriting existing tenancy. The 0.08-acre site is zoned Multi-Family and is located at 7436 Oakland Street in Detroit, near New Center, Midtown, Wayne State University, the College for Creative Studies, Henry Ford Hospital, the Fisher Building, the QLINE, Eastern Market, and Downtown Detroit.
Key Highlights
- Two‑unit duplex with approximately 2,166 square feet
- Each residence includes 2 bedrooms and 1 full bathroom
- Full‑gut renovation with updated kitchens, baths, flooring, and lighting
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
$24,754
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
5.16%
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%
$495,080
$495.1K
Cap Rate 7%
$353,629
$353.6K
Cap Rate 9%
$275,044
$275.0K
Market Conditions
NOI Build-Up for 2,166 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
$37.7K $17.40/SF
− Vacancy
−$2.3K −$1.07/SF
EGI
$35.4K $16.33/SF
− OpEx
−$10.6K −$4.90/SF
NOI
$24.8K $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%
$495,080
Cap Rate 7%
$353,629
Cap Rate 9%
$275,044
Alternative Uses
Best Use
Multifamily LT 5
$353.6K
$309.4K – $412.6K
NOI $24,754 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$324.6K
$284.0K – $378.7K
NOI $22,723 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$477.8K
$418.1K – $557.5K
NOI $33,448 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 48211, MI
5,447
Population
2,518
Households
2.2
Avg Household Size
32
Median Age
16%
College-Educated
74%
High-School Grad
4.2 sq mi
ZIP Area
1,297
Density / Sq Mi
$33,347
Median Household Income
$23,172
Median Earnings
$985
Median Rent
$66,900
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 - Vacant multifamily property with two two-bedroom residences and updated kitchens and baths.
Where is this duplex located?
The property is located at 7436 Oakland Street Detroit, MI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,166 square feet; Each residence includes 2 bedrooms and 1 full bathroom; Full‑gut renovation with updated kitchens, baths, flooring, and lighting
