Quadplex With One Vacant
For Sale
$410,000
1119 Custer Street, Detroit, MI 48211
MULTI_FAMILY - Detroit, MI
Property Size3,396 SF
Lot Size0.07 Acres
Price / SF$120.73
Days on Market215
Property Features for 1119 Custer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1
Pets allowed
Yes
Subdivision
Sub Of Lt 3 1/4 Sec 58 T T A T
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
S of of Grand Blvd / E of Chrysler Freeway
Standard status
Active
APN
W05I004202S
Size
3,396 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
E CAMERON E 45 FT OF N 12 FT OF 62 E 50 FT OF S 18 FT 62 E 50 FT 61 SUB LOT 3 1/4 SEC 58 TTAT L17 P54 PLATS, W C R 5/98 60 IRREG
Tax Annual Amount
9704
Legal Description
E CAMERON E 45 FT OF N 12 FT OF 62 E 50 FT OF S 18 FT 62 E 50 FT 61 SUB LOT 3 1/4 SEC 58 TTAT L17 P54 PLATS, W C R 5/98 60 IRREG
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Building materials
Aluminum
Architectural style
Other
Listing Agency:
Keller Williams Somerset · Keller Williams Realty
(248) 649-7200
Listed By:
Joseph Hammel · License #6501422602
(248) 649-7200
Added: Jan 6
Changed: Aug 1
Last Checked: Aug 9 at 8:06AM
MLS# 20251061992
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 quadplex includes four residential units with a mix of tenant-occupied and vacant space: three units are tenant-occupied and one unit is vacant and ready for showing. The property size is 3,396 square feet on a 0.07-acre lot, with aluminum construction materials and forced-air heating. Public water service is available.
The building is located in Detroit near I-75 and East Grand Boulevard. Showings are available during the inspection contingency period, and the vacant unit (Unit 101) is available for showing.
The property’s room and bathroom layout supports a multi-bedroom, multi-bath tenant configuration across the four units. The seller notes do not disturb tenants and that showings are upon accepted offer only.
The building is located in Detroit near I-75 and East Grand Boulevard. Showings are available during the inspection contingency period, and the vacant unit (Unit 101) is available for showing.
The property’s room and bathroom layout supports a multi-bedroom, multi-bath tenant configuration across the four units. The seller notes do not disturb tenants and that showings are upon accepted offer only.
Key Highlights
- Four‑unit quadplex: three tenant‑occupied, one unit vacant and ready to show
- Unit 101 is vacant and available for showing during inspection contingency period
- 0.07‑acre lot with 3,396 SF building size
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
$35,626
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
8.69%
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%
$712,520
$712.5K
Cap Rate 7%
$508,943
$508.9K
Cap Rate 9%
$395,844
$395.8K
Market Conditions
NOI Build-Up for 3,396 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
$69.3K $20.40/SF
− Vacancy
−$4.5K −$1.33/SF
EGI
$64.8K $19.07/SF
− OpEx
−$29.1K −$8.58/SF
NOI
$35.6K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$712,520
Cap Rate 7%
$508,943
Cap Rate 9%
$395,844
Alternative Uses
Best Use
Multifamily LT 5
$554.4K
$485.1K – $646.9K
NOI $38,811 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$508.9K
$445.3K – $593.8K
NOI $35,626 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$749.2K
$655.5K – $874.0K
NOI $52,442 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,935
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex zoned multi-family with forced-air heat, public water, and one unit ready for showing.
Where is this quadplex located?
The property is located at 1119 Custer Street Detroit, MI.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Four‑unit quadplex: three tenant‑occupied, one unit vacant and ready to show; Unit 101 is vacant and available for showing during inspection contingency period; 0.07‑acre lot with 3,396 SF building size
