Duplex with Private Fenced
For Sale
$185,000
18925 Roscommon St, Harper Woods, MI 48225
Two tenant-occupied units each offer full basements, private fenced backyards, and detached garages.
Property Size1,192 SF
Days on Market40
Property Features for 18925 Roscommon St
General Information
Standard status
Active
Size
1,192 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,260
Building Details
Building Size
1,192 SF
Year Built
1944
Units
2
Tenancy
Multi
Listing Agency:
Market Value Prop Specialists
(586) 222-1411
Listed By:
Michael Hines · License #6501366520
(586) 222-1411
Source:
Elliman
Added: Jul 13
Changed: Aug 14
Last Checked: Aug 20 at 11:42AM
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 Market Value Prop Specialists
Investment Insights
Based on property information with market context.
This duplex consists of one building containing two tenant-occupied units. Each unit is supported by a full basement and includes a private fenced backyard. The property also features detached garages for both units, and the roofs are described as newer dimensional roofs.
The home is located near Kelly Road and 8 Mile. Walk and bike scores are provided as 44 and 41, respectively, with a transit score of 41.
For showings, an accepted offer is required prior to viewing the interiors. Please do not visit or approach the property without a confirmed appointment, and do not disturb the tenants.
The home is located near Kelly Road and 8 Mile. Walk and bike scores are provided as 44 and 41, respectively, with a transit score of 41.
For showings, an accepted offer is required prior to viewing the interiors. Please do not visit or approach the property without a confirmed appointment, and do not disturb the tenants.
Key Highlights
- Two tenant‑occupied units in one building, year built 1944
- Each unit has a full basement
- Private fenced backyards for 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
$11,702
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
6.33%
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%
$234,040
$234.0K
Cap Rate 7%
$167,171
$167.2K
Cap Rate 9%
$130,022
$130.0K
Market Conditions
NOI Build-Up for 1,192 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
$17.9K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$16.7K $14.03/SF
− OpEx
−$5.0K −$4.21/SF
NOI
$11.7K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
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%
$234,040
Cap Rate 7%
$167,171
Cap Rate 9%
$130,022
Alternative Uses
Best Use
Multifamily LT 5
$167.2K
$146.3K – $195.0K
NOI $11,702 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$153.5K
$134.3K – $179.1K
NOI $10,746 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$220.7K
$193.1K – $257.5K
NOI $15,448 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 48225, MI
15,862
Population
6,271
Households
2.5
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
2.7 sq mi
ZIP Area
5,875
Density / Sq Mi
$59,248
Median Household Income
$40,558
Median Earnings
$1,304
Median Rent
$140,800
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 tenant-occupied units each offer full basements, private fenced backyards, and detached garages.
Where is this duplex located?
The property is located at 18925 Roscommon St Harper Woods, MI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two tenant‑occupied units in one building, year built 1944; Each unit has a full basement; Private fenced backyards for both units
