Tenant-Occupied Duplex Near
For Sale
$360,000
Pending
1119 S Lafayette Ave, Royal Oak, MI 48067
Two residential units include a three-bedroom lower residence with basement and one-bedroom upper unit.
Property Size1,350 SF
Days on Market55
Property Features for 1119 S Lafayette Ave
General Information
Standard status
Pending
Size
1,350 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,777
Building Details
Building Size
1,350 SF
Year Built
1918
Buildings
1
Units
2
Listing Agency:
Max Broock, REALTORS-Royal Oak
Listed By:
Kate DeCavitte
(248) 548-9100
Source:
Elliman
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 16 at 10:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Max Broock, REALTORS-Royal Oak
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences within a 1918-built property. The lower-level unit provides three bedrooms, two full bathrooms, and access to a full basement, while the upper residence has one bedroom and one full bathroom. Established tenants are in place.
The property is located on S Lafayette Ave in Royal Oak, with stated proximity to downtown, Woodward, freeways, shopping, dining, and parks. Walk Score is 62 and Bike Score is 48, reflecting somewhat walkable and somewhat bikeable conditions. The property information also identifies an adjacent S. Lafayette property that may be purchased separately or in tandem.
The property is located on S Lafayette Ave in Royal Oak, with stated proximity to downtown, Woodward, freeways, shopping, dining, and parks. Walk Score is 62 and Bike Score is 48, reflecting somewhat walkable and somewhat bikeable conditions. The property information also identifies an adjacent S. Lafayette property that may be purchased separately or in tandem.
Key Highlights
- Two‑unit duplex with established tenants
- Lower residence includes 3 bedrooms, 2 full baths, and a full basement
- Upper residence offers 1 bedroom and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,869
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,380
$357.4K
Cap Rate 7%
$255,271
$255.3K
Cap Rate 9%
$198,544
$198.5K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$26.7K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.5K $18.91/SF
− OpEx
−$7.7K −$5.67/SF
NOI
$17.9K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,380
Cap Rate 7%
$255,271
Cap Rate 9%
$198,544
Alternative Uses
Best Use
Multifamily LT 5
$255.3K
$223.4K – $297.8K
NOI $17,869 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$236.6K
$207.0K – $276.0K
NOI $16,559 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$291.2K
$254.8K – $339.7K
NOI $20,383 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a three-bedroom lower residence with basement and one-bedroom upper unit.
Where is this duplex located?
The property is located at 1119 S Lafayette Ave Royal Oak, MI.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit duplex with established tenants; Lower residence includes 3 bedrooms, 2 full baths, and a full basement; Upper residence offers 1 bedroom and 1 full bath
