Ranch-Style Triplex with Updated
For Sale
$176,000
13000 Plymouth Road, Detroit, MI 48204
MULTI_FAMILY - Ranch - Detroit, MI
Property Size1,506 SF
Lot Size120.00 Acres
Price / SF$116.87
Days on Market107
Property Features for 13000 Plymouth Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi-Family
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
West of Meyers North On Plymouth Rd
Subdivision
Plymouth
Standard status
Active
APN
220061704
Size
1,506 SF
Lot size
120.00 Acres
Taxes and HOA fees
Tax Description
N Plymouth E 10 Feet 95 96 Frank B Wallace Grand River Villas Sub L34P22 Plats, W C R 22/133 30x120
Tax Annual Amount
4610
Legal Description
N Plymouth E 10 Feet 95 96 Frank B Wallace Grand River Villas Sub L34P22 Plats, W C R 22/133 30x120
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Number of units
3
Building materials
Brick
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Keller Williams Realty-Great Lakes
(586) 541-4000
Listed By:
Carolyn Wright
(586) 541-4000
Added: May 9
Changed: Aug 3
Last Checked: Aug 23 at 6:06PM
MLS# 20261032825
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This ranch-style triplex features three updated units with living rooms, kitchens, and baths. Each unit has new furnaces and hot water tanks, and recent exterior upgrades include a new roof in 2025 and new windows in 2025. Construction is brick, with forced-air heating and an asphalt shingle roof.
The property also has separate electric and gas meters for each unit, supporting independent utility service. Public water is available.
The building was constructed in 1957 and is listed with a total property size of 1,506 square feet on approximately 120 acres. Layout details include multiple bedrooms and bathrooms across the three units.
The property also has separate electric and gas meters for each unit, supporting independent utility service. Public water is available.
The building was constructed in 1957 and is listed with a total property size of 1,506 square feet on approximately 120 acres. Layout details include multiple bedrooms and bathrooms across the three units.
Key Highlights
- Three updated units with new furnaces and hot water tanks in each unit
- New roof in 2025 and new windows in 2025
- Separate electric and gas meters for each unit
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
$15,799
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
8.98%
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%
$315,980
$316.0K
Cap Rate 7%
$225,700
$225.7K
Cap Rate 9%
$175,544
$175.5K
Market Conditions
NOI Build-Up for 1,506 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
$30.7K $20.40/SF
− Vacancy
−$2.0K −$1.33/SF
EGI
$28.7K $19.07/SF
− OpEx
−$12.9K −$8.58/SF
NOI
$15.8K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$315,980
Cap Rate 7%
$225,700
Cap Rate 9%
$175,544
Alternative Uses
Best Use
Multifamily LT 5
$245.9K
$215.1K – $286.9K
NOI $17,211 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$225.7K
$197.5K – $263.3K
NOI $15,799 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$332.2K
$290.7K – $387.6K
NOI $23,256 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
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?
Triplex - Ranch-style triplex with three updated units, including separate electric and gas meters for each unit.
Where is this triplex located?
The property is located at 13000 Plymouth Road Detroit, MI.
What is the asking price?
The asking price for this property is $176,000.
What are key features of this property?
This property features: Three updated units with new furnaces and hot water tanks in each unit; New roof in 2025 and new windows in 2025; Separate electric and gas meters for each unit
