Renovated Duplex With Unfinished
For Sale
$239,000
5860 Hazlett St, Detroit, MI 48210
Completely renovated duplex with two identical units, each with its own entrance, plus an unfinished basement and included vacant lot.
Property Size1,930 SF
Days on Market35
Property Features for 5860 Hazlett St
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,440
Building Details
Building Size
1,930 SF
Year Built
1917
Units
2
Listing Agency:
REMAX LEADING EDGE
(313) 728-6853
Listed By:
Nazareth Sanchez · License #6501438534
(313) 728-6853
Source:
Elliman
Added: Jul 25
Changed: Aug 16
Last Checked: Aug 26 at 8:26AM
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 REMAX LEADING EDGE
Investment Insights
Based on property information with market context.
This completely renovated duplex offers two identical units with three bedrooms and one bathroom each. Updates include remodeled kitchens, living and dining areas with vinyl flooring and recessed lighting, and newly finished bathrooms with floor-to-ceiling ceramic tile, new toilets, and vanities. The clean and dry unfinished basement provides additional usable space, and each unit has its own entrance for privacy and convenience. A brand-new front porch enhances the exterior, and a vacant lot on one side is included in the sale.
The property is located on Detroit’s west side, minutes from Downtown Detroit, with convenient access to local amenities. It is noted to be blocks from Livernois and W Warren Ave, and near I-94 and I-96. The remarks also cite proximity to Henry Ford Hospital and Wayne State University.
Additional brand-new upgrades listed include whole-house PEX plumbing, a 200 amp electrical panel with whole-house wiring, vinyl windows, and newer roofing. Interior updates include new kitchen cabinets, freshly painted walls, and vinyl floors.
The property is located on Detroit’s west side, minutes from Downtown Detroit, with convenient access to local amenities. It is noted to be blocks from Livernois and W Warren Ave, and near I-94 and I-96. The remarks also cite proximity to Henry Ford Hospital and Wayne State University.
Additional brand-new upgrades listed include whole-house PEX plumbing, a 200 amp electrical panel with whole-house wiring, vinyl windows, and newer roofing. Interior updates include new kitchen cabinets, freshly painted walls, and vinyl floors.
Key Highlights
- Completely renovated duplex built in 1917 with two identical units
- Each unit has its own entrance for privacy and convenience
- Each unit features 3 large bedrooms and 1 renovated bathroom with floor‑to‑ceiling ceramic tile, new toilets, and vanities
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
$20,247
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
8.47%
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%
$404,940
$404.9K
Cap Rate 7%
$289,243
$289.2K
Cap Rate 9%
$224,967
$225.0K
Market Conditions
NOI Build-Up for 1,930 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
$39.4K $20.40/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$36.8K $19.07/SF
− OpEx
−$16.6K −$8.58/SF
NOI
$20.2K $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%
$404,940
Cap Rate 7%
$289,243
Cap Rate 9%
$224,967
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,057 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$425.8K
$372.6K – $496.7K
NOI $29,804 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 48210, MI
27,155
Population
10,576
Households
2.6
Avg Household Size
28
Median Age
9%
College-Educated
57%
High-School Grad
4.9 sq mi
ZIP Area
5,542
Density / Sq Mi
$38,900
Median Household Income
$25,220
Median Earnings
$968
Median Rent
$60,100
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 - Completely renovated duplex with two identical units, each with its own entrance, plus an unfinished basement and included vacant lot.
Where is this duplex located?
The property is located at 5860 Hazlett St Detroit, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Completely renovated duplex built in 1917 with two identical units; Each unit has its own entrance for privacy and convenience; Each unit features 3 large bedrooms and 1 renovated bathroom with floor‑to‑ceiling ceramic tile, new toilets, and vanities
