Duplex with New
For Sale
$495,000
1335 & 1337 Bagley St, Detroit, MI 48226
Two-unit property with separate gas and electric service and a one-bedroom and two-bedroom unit mix.
Property Size1,931 SF
Days on Market55
Property Features for 1335 & 1337 Bagley St
General Information
Standard status
Active
Size
1,931 SF
Property subtype
Investment
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$593
Building Details
Building Size
1,931 SF
Year Built
1900
Units
2
Listed By:
Gary J Brincat
(248) 568-3441
Source:
Elliman
Added: Aug 13
Changed: Oct 3
Last Checked: Oct 5 at 6:35PM
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 Gary J Brincat
Investment Insights
Based on property information with market context.
This two-unit duplex at 1335 & 1337 Bagley St includes one one-bedroom residence and one two-bedroom residence. The property was built in 1900 and is currently receiving a new roof. Gas and electric service are separately metered, while water is included in the rent.
The property records a Walk Score of 94, a Bike Score of 94, and a Transit Score of 63. These ratings reflect strong walkability and bike access along with good transit connectivity. The unit mix and separate utility services provide a straightforward configuration for a residential income property.
The property records a Walk Score of 94, a Bike Score of 94, and a Transit Score of 63. These ratings reflect strong walkability and bike access along with good transit connectivity. The unit mix and separate utility services provide a straightforward configuration for a residential income property.
Key Highlights
- Two‑unit duplex with one one‑bedroom and one two‑bedroom unit
- New roof currently being installed
- Separate gas and electric service for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,068
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,360
$441.4K
Cap Rate 7%
$315,257
$315.3K
Cap Rate 9%
$245,200
$245.2K
Market Conditions
NOI Build-Up for 1,931 SF
Gross rent
$33.6K $17.40/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$31.5K $16.33/SF
− OpEx
−$9.5K −$4.90/SF
NOI
$22.1K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,360
Cap Rate 7%
$315,257
Cap Rate 9%
$245,200
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.8K
NOI $22,068 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$289.4K
$253.2K – $337.6K
NOI $20,258 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$426.0K
$372.7K – $497.0K
NOI $29,819 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 48226, MI
6,307
Population
5,160
Households
1.2
Avg Household Size
37
Median Age
53%
College-Educated
93%
High-School Grad
1.2 sq mi
ZIP Area
5,256
Density / Sq Mi
$69,813
Median Household Income
$60,957
Median Earnings
$1,714
Median Rent
$307,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate gas and electric service and a one-bedroom and two-bedroom unit mix.
Where is this duplex located?
The property is located at 1335 & 1337 Bagley St Detroit, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with one one‑bedroom and one two‑bedroom unit; New roof currently being installed; Separate gas and electric service for the units
