Duplex with Updated
New
For Sale
$549,000
752-754 Neff Road, Grosse Pointe, MI 48230
MULTIFAMILY, Grosse Pointe, MI
Property Size2,656 SF
Lot Size0.18 Acres
Price / SF$206.70
Days on Market2
Property Features for 752-754 Neff Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Basement, Bedroom 1, Bedroom 4
Parking features
Garage
Patio and Porch features
Porch, Patio
Interior features
Ceramic Floors, Hardwood Floors
Exterior features
Lawn Sprinkler, Patio, Porch, Sidewalks, Street Lights, Exterior Balcony
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
John F Baisch Sub
Lot features
Walk to School
Elementary school district
Grosse Pointe Public Schools
Middle school district
Grosse Pointe Public Schools
High school district
Grosse Pointe Public Schools
Standard status
Active
APN
37-002-01-0065-000
Size
2,656 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
14335
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1937
Floors in Building
2
Number of units
2
Architectural style
Colonial
Listing Agency:
Higbie Maxon Agney Inc
(313) 886-3400
Listed By:
Caitlin Kashef
(586) 212-9694
Added: Sep 26
Last Checked: Sep 27 at 4:06PM
MLS# 50223081
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.
This 2,656-square-foot duplex contains two apartments, with an established tenant in the upper unit and the lower unit currently vacant. Improvements include refinished hardwood floors, updated windows, kitchens and bathrooms, separate laundry, and newer mechanical systems. The lower apartment also has a bedroom facing the rear patio and an adjoining flex room. The property was built in 1937 and occupies a 0.18-acre lot.
The Village, Neighborhood Club, and schools are within walking distance. Exterior features include a porch, patio, lawn sprinkler, and garage parking.
The Village, Neighborhood Club, and schools are within walking distance. Exterior features include a porch, patio, lawn sprinkler, and garage parking.
Key Highlights
- Two‑apartment duplex with one occupied unit and one vacant unit
- 2,656 square feet on a 0.18‑acre lot
- Refinished hardwood floors, updated windows, kitchens, and bathrooms
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
$26,075
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
4.75%
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%
$521,500
$521.5K
Cap Rate 7%
$372,500
$372.5K
Cap Rate 9%
$289,722
$289.7K
Market Conditions
NOI Build-Up for 2,656 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
$39.8K $15.00/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$37.3K $14.03/SF
− OpEx
−$11.2K −$4.21/SF
NOI
$26.1K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /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%
$521,500
Cap Rate 7%
$372,500
Cap Rate 9%
$289,722
Alternative Uses
Best Use
Multifamily LT 5
$372.5K
$325.9K – $434.6K
NOI $26,075 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,944 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 6.27%
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
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
Check the figures for this property
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 - One apartment is vacant, while the occupied upper unit provides established rental income.
Where is this duplex located?
The property is located at 752-754 Neff Road Grosse Pointe, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑apartment duplex with one occupied unit and one vacant unit; 2,656 square feet on a 0.18‑acre lot; Refinished hardwood floors, updated windows, kitchens, and bathrooms
