Duplex with Separate
For Sale
$219,900
17215 and 17219 Sioux St, Detroit, MI 48224
Two renovated units feature separate basements, utilities, and garages, with new furnaces, plumbing, kitchens, and updated bathrooms.
Property Size1,964 SF
Lot Size0.15 Acres
Price / SF$111.97
Days on Market101
Property Features for 17215 and 17219 Sioux St
General Information
Standard status
Active
Size
1,964 SF
Lot size
0.15 Acres
Property subtype
Investment
Additional Details
Multifamily Units
2
Building Details
Year Built
1944
Tenancy
Multi
Listing Agency:
JNA Real Estate
(734) 497-5558
Listed By:
Rashad Elabed · License #6501406301
(734) 497-5558
Source:
Elliman
Added: Apr 28
Changed: Jul 22
Last Checked: Aug 6 at 7:18AM
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 JNA Real Estate
Investment Insights
Based on property information with market context.
This duplex offers two distinct, well-finished units at 17215 and 17219 Sioux St. The property is set up for straightforward operations with true unit separation, including separate basements with separate utilities. Both basements are reported dry and usable. Each unit includes updated interiors with brand new furnaces, new plumbing, new kitchens with granite countertops, new stainless steel appliances, and new carpet, along with fresh paint throughout.
The bathrooms have been redone with tile, tubs, vanities, and toilets to provide a finished look. Outside, the property also provides separate garages for practical parking and storage. Additional infrastructure updates include new sewer lines, supporting easier long-term maintenance. The combined layout is reported as 1,964 sq ft on a 6,408 sq ft lot, and the home is described as having 5 bedrooms and 2 baths total.
Current rent is noted as $1,200 per unit. A buyer can request full details and schedule a showing to review the unit-by-unit updates, separation, and current income profile firsthand.
The bathrooms have been redone with tile, tubs, vanities, and toilets to provide a finished look. Outside, the property also provides separate garages for practical parking and storage. Additional infrastructure updates include new sewer lines, supporting easier long-term maintenance. The combined layout is reported as 1,964 sq ft on a 6,408 sq ft lot, and the home is described as having 5 bedrooms and 2 baths total.
Current rent is noted as $1,200 per unit. A buyer can request full details and schedule a showing to review the unit-by-unit updates, separation, and current income profile firsthand.
Key Highlights
- Two‑unit multifamily built in 1944 at 17215 and 17219 Sioux Street in Detroit
- Each unit rents for $1,200, with 1,964 sq ft total and a 6,408 sq ft lot
- Both units have brand new furnaces, new plumbing, new kitchens with granite, new stainless steel appliances, and new carpet
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
$19,350
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
8.80%
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%
$387,000
$387.0K
Cap Rate 7%
$276,429
$276.4K
Cap Rate 9%
$215,000
$215.0K
Market Conditions
NOI Build-Up for 1,964 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
$29.5K $15.00/SF
− Vacancy
−$1.8K −$0.93/SF
EGI
$27.6K $14.07/SF
− OpEx
−$8.3K −$4.22/SF
NOI
$19.3K $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%
$387,000
Cap Rate 7%
$276,429
Cap Rate 9%
$215,000
Alternative Uses
Best Use
Multifamily LT 5
$276.4K
$241.9K – $322.5K
NOI $19,350 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$254.5K
$222.7K – $296.9K
NOI $17,816 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$495.4K
$433.5K – $578.0K
NOI $34,677 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
561
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 renovated units feature separate basements, utilities, and garages, with new furnaces, plumbing, kitchens, and updated bathrooms.
Where is this duplex located?
The property is located at 17215 and 17219 Sioux St Detroit, MI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit multifamily built in 1944 at 17215 and 17219 Sioux Street in Detroit; Each unit rents for $1,200, with 1,964 sq ft total and a 6,408 sq ft lot; Both units have brand new furnaces, new plumbing, new kitchens with granite, new stainless steel appliances, and new carpet
