Renovated Duplex with Modern
For Sale
$349,900
625 HORTON St, Detroit, MI 48202
Move-in-ready duplex featuring comprehensive renovations and modern amenities.
Property Size2,146 SF
Lot Size0.09 Acres
Price / SF$163.05
Days on Market212
Property Features for 625 HORTON St
General Information
Standard status
Active
Size
2,146 SF
Lot size
0.09 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$1,569
Building Details
Building Size
2,146 SF
Year Built
1913
Units
2
Listing Agency:
KW Professionals
Listed By:
Sean Konja · License #6501408625
(248) 762-9186
Source:
Elliman
Added: Mar 10
Changed: Oct 5
Last Checked: Oct 7 at 12:31PM
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 KW Professionals
Investment Insights
Based on property information with market context.
Located at 625 Horton Street, this multifamily property features a comprehensive top-to-bottom renovation, including upgraded soffits, windows, electrical, plumbing, and paint. The property contains two units, each approximately 1073 square feet, featuring identical layouts. The well-designed kitchens are equipped with stainless steel appliances, ample cabinet storage and counter space, stylish tile backsplash, and luxurious marble-tiled floors. The spacious living rooms are illuminated with recessed lighting, creating a welcoming atmosphere. Additional storage space is available in both the basement and attic. This move-in-ready home offers both comfort and financial potential. It is suitable for investors seeking a turnkey property or buyers looking to reside in one unit while renting out the other. Please note that the seller is not accepting land contract or seller financing offers at this time. Buyer to verify all information.
Key Highlights
- Completely renovated with new soffits, windows, electrical, plumbing, and paint.
- Two identical units, each approximately 1073 sqft.
- Modern kitchens feature stainless steel appliances, ample storage, and marble‑tiled floors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,526
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,520
$490.5K
Cap Rate 7%
$350,371
$350.4K
Cap Rate 9%
$272,511
$272.5K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$37.3K $17.40/SF
− Vacancy
−$2.3K −$1.07/SF
EGI
$35.0K $16.33/SF
− OpEx
−$10.5K −$4.90/SF
NOI
$24.5K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,520
Cap Rate 7%
$350,371
Cap Rate 9%
$272,511
Alternative Uses
Best Use
Multifamily LT 5
$350.4K
$306.6K – $408.8K
NOI $24,526 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$321.6K
$281.4K – $375.2K
NOI $22,513 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$473.4K
$414.2K – $552.3K
NOI $33,139 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,771
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
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 - Move-in-ready duplex featuring comprehensive renovations and modern amenities.
Where is this duplex located?
The property is located at 625 HORTON St Detroit, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Completely renovated with new soffits, windows, electrical, plumbing, and paint.; Two identical units, each approximately 1073 sqft.; Modern kitchens feature stainless steel appliances, ample storage, and marble‑tiled floors.
