Detroit Duplex in Islandview
For Sale
$325,000
Pending
3450 Townsend St, Detroit, MI 48214
Rehabbed brick duplex with new systems, roof, kitchens, and bathrooms.
Property Size2,350 SF
Days on Market84
Property Features for 3450 Townsend St
General Information
Standard status
Pending
Size
2,350 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,552
Building Details
Building Size
2,350 SF
Year Built
1904
Units
2
Listing Agency:
O'Connor Realty Detroit, LLC
(313) 963-9891
Listed By:
Griffin Krebsbach · License #6501415617
(313) 963-9891
Source:
Elliman
Added: May 21
Changed: Aug 8
Last Checked: Aug 11 at 8:13AM
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 O'Connor Realty Detroit, LLC
Investment Insights
Based on property information with market context.
This fully rehabbed brick duplex is located in Detroit’s Islandview neighborhood. The property features all-new systems, a new roof, windows, kitchens, and bathrooms. The building has been completely updated from top to bottom. The first-floor unit includes three bedrooms and one-and-a-half bathrooms, while the upper unit offers four bedrooms and two full bathrooms. Nearby amenities include Detroit Waldorf School, James & Grace Lee Boggs School, and The Commons Coffee + Laundry. The location also provides easy access to nearby businesses in the Villages. The property has a bike score of 68, indicating it is bikeable. The walk score is 50, meaning it is somewhat walkable, and the transit score is 54, indicating good transit options.
Key Highlights
- Fully rehabbed duplex with all‑new systems, roof, windows, kitchens, and bathrooms.
- Two units: one with three bedrooms and 1.5 bathrooms, and another with four bedrooms and two full bathrooms.
- Located in Detroit's Islandview neighborhood.
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
$26,857
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
8.26%
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%
$537,140
$537.1K
Cap Rate 7%
$383,671
$383.7K
Cap Rate 9%
$298,411
$298.4K
Market Conditions
NOI Build-Up for 2,350 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
$40.9K $17.40/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$38.4K $16.33/SF
− OpEx
−$11.5K −$4.90/SF
NOI
$26.9K $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 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%
$537,140
Cap Rate 7%
$383,671
Cap Rate 9%
$298,411
Alternative Uses
Best Use
Multifamily LT 5
$383.7K
$335.7K – $447.6K
NOI $26,857 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$352.2K
$308.2K – $410.9K
NOI $24,653 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$518.4K
$453.6K – $604.8K
NOI $36,289 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
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?
Duplex - Rehabbed brick duplex with new systems, roof, kitchens, and bathrooms.
Where is this duplex located?
The property is located at 3450 Townsend St Detroit, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Fully rehabbed duplex with all‑new systems, roof, windows, kitchens, and bathrooms.; Two units: one with three bedrooms and 1.5 bathrooms, and another with **four bedrooms and two full bathrooms**.; Located in Detroit's Islandview neighborhood.
