Upgraded Condo in Prime
1128 Alameda, Troy, MI 48085
Recently upgraded 2-bedroom condo with modern amenities in Troy, MI.
Type:Condominium
Property size:
1,457 SFPrice / SF:
$199/SF- Added:
- Aug 8, 2025
- Days on Market:
- 333
- Last Refresh:
- Jul 4 at 2:04 pm
Property Features for 1128 Alameda
General Information
- Standard status
- Active
- Size
- 1,457 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 2004
Listing office homecoin.com (888) 400-2513
Listing date Aug 8, 2025
Source Kw
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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HighLights
- Recently upgraded condo with new roof (2024), new balcony (2024), new water heater (July 2025), new microwave (2024), new exterior painting (2024), and upgraded kitchen and bathrooms (2023).
- Located in the heart of Troy, in a great neighborhood, and in the top‑rated Troy School District.
- Updated kitchen with granite countertops, stainless steel appliances, and breakfast bar.
- Includes access to community amenities such as a swimming pool, clubhouse, and neighborhood trails.
- Offers a spacious master bedroom with pan ceiling and in suite bathroom, plus generous walk‑in closets in both bedrooms.
- Has an attached, fully finished extended garage.
Overview
This well-maintained, recently upgraded ranch-style upper-floor condo features 2 bedrooms and 2 full bathrooms. The stylish open floor plan includes a large great room with a vaulted ceiling and access to a maintenance-free private balcony, upgraded in 2024. The updated kitchen features a breakfast bar top, granite countertops, stainless steel appliances including a microwave less than one year old, and newly installed plank flooring. The spacious master bedroom has a pan ceiling and an en-suite bathroom. Both bedrooms include generous walk-in closets. The two full bathrooms have been newly updated with granite countertops, porcelain tiles, and a new shower head in the master bathroom (July 2025). The unit includes an in-suite washer and dryer. A newly replaced water heater was installed in July 2025. New porcelain tiles cover the entire first floor. The attached extended garage is fully finished. The property benefits from a new roof (2024) and new exterior painting, including the garage door (2024). Community amenities include a swimming pool, clubhouse, and neighborhood trails. Located in the heart of Troy, the condo is situated in a desirable neighborhood, minutes from downtown Rochester and near shopping centers, restaurants, entertainment venues, and with easy access to the highway, hospitals, and schools. It is located within the top-rated Troy School District. Major updates include a new roof (2024), new balcony (2024), exterior and garage door painting (2024), new water heater (July 2025), new microwave (2024), kitchen and bathrooms upgraded (2023), granite countertops in kitchen and two bathrooms (2023), porcelain tiles in bathrooms and entire first floor (2023), luxury plank floor in kitchen (2023), two new toilets (2023), and a new shower head in the master bathroom (July 2025). The property size is 1457 square feet.
Local Financial Insights For Apartment 5plus
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 | $33.9k | $23.28 |
| − Vacancy | −$1.4k | −$0.98 |
| EGI | $32.5k | $22.30 |
| − OpEx | −$14.6k | −$10.04 |
| NOI | $17.9k | $12.27 |
1,457 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$255.3K
$223.4K – $297.9K
NOI $17,872 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$314.3K
$275.0K – $366.6K
NOI $21,998 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Oakland
- State
- Michigan
- Longitude
- -83.1287441
- Latitude
- 42.6180166
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Recently upgraded 2-bedroom condo with modern amenities in Troy, MI.
Where is this apartment building located?
The property is located at 1128 Alameda Troy, MI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Recently upgraded condo with new roof (2024), new balcony (2024), new water heater (July 2025), new microwave (2024), new exterior painting (2024), and upgraded kitchen and bathrooms (2023).; Located in the heart of Troy, in a great neighborhood, and in the top‑rated Troy School District.; Updated kitchen with granite countertops, stainless steel appliances, and breakfast bar.
