8-Unit Brick Apartment
New
For Sale
$480,000
11744 Cascade St, Detroit, MI 48204
Eight one-bedroom residences have forced-air heat and public water and sewer service.
Property Size3,370 SF
Days on Market1
Property Features for 11744 Cascade St
General Information
Standard status
Active
Size
3,370 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,986
Building Details
Building Size
3,370 SF
Year Built
1930
Units
8
Construction
brick
Listing Agency:
REMAX City Centre
Listed By:
Angie Sierra
(313) 528-3002
Source:
Elliman
Added: Oct 7
Last Checked: Oct 7 at 2:53PM
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 REMAX City Centre
Investment Insights
Based on property information with market context.
This Detroit apartment property contains eight one-bedroom units in a brick building constructed in 1930. Forced-air heat and connections to public water and sewer are in place.
The property is near Wayne State University, Detroit Medical Center, Midtown, and Downtown Detroit, with major freeways and restaurants also identified nearby.
The property is near Wayne State University, Detroit Medical Center, Midtown, and Downtown Detroit, with major freeways and restaurants also identified nearby.
Key Highlights
- Eight apartments, each with one bedroom
- Brick building constructed in 1930
- Forced‑air heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,354
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,080
$707.1K
Cap Rate 7%
$505,057
$505.1K
Cap Rate 9%
$392,822
$392.8K
Market Conditions
NOI Build-Up for 3,370 SF
Gross rent
$68.7K $20.40/SF
− Vacancy
−$4.5K −$1.33/SF
EGI
$64.3K $19.07/SF
− OpEx
−$28.9K −$8.58/SF
NOI
$35.4K $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 Rate 5%
$707,080
Cap Rate 7%
$505,057
Cap Rate 9%
$392,822
Alternative Uses
Best Use
Apartment 5plus
$505.1K
$441.9K – $589.2K
NOI $35,354 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.4K
$650.5K – $867.3K
NOI $52,040 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom residences have forced-air heat and public water and sewer service.
Where is this apartment building located?
The property is located at 11744 Cascade St Detroit, MI.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Eight apartments, each with one bedroom; Brick building constructed in 1930; Forced‑air heat
