Brick Duplex With Two
For Sale
$225,000
4205 Haverhill St, Detroit, MI 48224
Two 2-bedroom units with separate electric meters, laundry in the basement, and fenced yard space.
Property Size2,087 SF
Days on Market71
Property Features for 4205 Haverhill St
General Information
Standard status
Active
Size
2,087 SF
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,767
Building Details
Building Size
2,087 SF
Year Built
1927
Units
2
Tenancy
Multi
Listing Agency:
Real Estate One-Dbn Hts/Dbn
(248) 808-4758
Listed By:
Eric Blaine
(248) 808-4758
Source:
Elliman
Added: Jun 12
Changed: Aug 20
Last Checked: Aug 20 at 10:56AM
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 Real Estate One-Dbn Hts/Dbn
Investment Insights
Based on property information with market context.
This brick Colonial duplex includes two separate 2-bedroom, 1-bath units and a full basement with a designated laundry area. Each unit has its own electric meter and water heater, while a boiler that is approximately five years old provides heat for both units. The property also features a fenced back yard, with a deck off the back of both units. A 2.5-car garage is included and is wired for an electric car charger, adding practical utility for residents or tenants.
Located at 4205 Haverhill St in Detroit, the home is supported by everyday accessibility indicators provided with the listing: BikeScore of 55 (Bikeable), WalkScore of 60 (Somewhat Walkable), and TransitScore of 36 (Some Transit). The property’s configuration supports straightforward, independent occupancy given the separate metering and water heating.
For buyers seeking an income-focused residential asset, the duplex layout offers two self-contained units under one roof, with separate electric metering and water heaters that can simplify tenant billing. With the basement laundry area already in place and the home described as meticulously maintained and ready to rent, the setup is well-suited for an owner-operator or investor looking for a residential income property with practical, functional improvements.
Located at 4205 Haverhill St in Detroit, the home is supported by everyday accessibility indicators provided with the listing: BikeScore of 55 (Bikeable), WalkScore of 60 (Somewhat Walkable), and TransitScore of 36 (Some Transit). The property’s configuration supports straightforward, independent occupancy given the separate metering and water heating.
For buyers seeking an income-focused residential asset, the duplex layout offers two self-contained units under one roof, with separate electric metering and water heaters that can simplify tenant billing. With the basement laundry area already in place and the home described as meticulously maintained and ready to rent, the setup is well-suited for an owner-operator or investor looking for a residential income property with practical, functional improvements.
Key Highlights
- Detroit brick Colonial built in 1927 with two 2‑bedroom, 1‑bath units
- Each unit has a separate electric meter and water heater
- Full basement includes a laundry area; boiler (5 years old) heats both units
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
$20,561
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
9.14%
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%
$411,220
$411.2K
Cap Rate 7%
$293,729
$293.7K
Cap Rate 9%
$228,456
$228.5K
Market Conditions
NOI Build-Up for 2,087 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
$31.3K $15.00/SF
− Vacancy
−$1.9K −$0.93/SF
EGI
$29.4K $14.07/SF
− OpEx
−$8.8K −$4.22/SF
NOI
$20.6K $9.85/SF
Area
ZIP 48224
Vacancy
6.17%
Lease Rate
$15.00 /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%
$411,220
Cap Rate 7%
$293,729
Cap Rate 9%
$228,456
Alternative Uses
Best Use
Multifamily LT 5
$293.7K
$257.0K – $342.7K
NOI $20,561 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$270.5K
$236.7K – $315.5K
NOI $18,932 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$526.4K
$460.6K – $614.2K
NOI $36,849 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
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 - Two 2-bedroom units with separate electric meters, laundry in the basement, and fenced yard space.
Where is this duplex located?
The property is located at 4205 Haverhill St Detroit, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Detroit brick Colonial built in 1927 with two 2‑bedroom, 1‑bath units; Each unit has a separate electric meter and water heater; Full basement includes a laundry area; boiler (5 years old) heats both units
