Two-Unit Multifamily in
For Sale
Contact for pricing
13445 Maiden St, Detroit, MI 48213
Two-unit brick multifamily property in Detroit's Ravendale subdivision.
Property Size2,186 SF
Price / SF$5.26
Days on Market192
Property Features for 13445 Maiden St
General Information
Standard status
Active
Size
2,186 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Outer Drive-Hayes
Building Details
Year Built
1937
Listing Agency:
Real Estate One-Southfield
Listed By:
Gene Kelley II · License #6501293908
(248) 506-1257
Source:
Premiermichiganhomesearch
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 7 at 4:57PM
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 Real Estate One-Southfield
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Investment Insights
Based on property information with market context.
This two-unit brick multifamily property is located in the Ravendale subdivision. The property requires work and presents a potential investment opportunity. Note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years after the property ownership is transferred. The tax capture may not be compatible with tax abatements and/or lot combinations. The Detroit Land Bank Authority will review requests to waive its tax capture rights and may require a payment instead of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. The bike score is 44, indicating it is somewhat bikeable. The transit score is 45, indicating some transit options are available. The walk score is 0, indicating it is car-dependent.
Key Highlights
- Two‑unit brick multifamily property.
- Located in the Ravendale subdivision.
- Investment opportunity with potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,933
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,660
$458.7K
Cap Rate 7%
$327,614
$327.6K
Cap Rate 9%
$254,811
$254.8K
Market Conditions
NOI Build-Up for 2,186 SF
Gross rent
$44.6K $20.40/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$41.7K $19.07/SF
− OpEx
−$18.8K −$8.58/SF
NOI
$22.9K $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 Rate 5%
$458,660
Cap Rate 7%
$327,614
Cap Rate 9%
$254,811
Alternative Uses
Best Use
Multifamily LT 5
$356.9K
$312.3K – $416.4K
NOI $24,983 @ 7.0% cap · market cap 217.24%
Second Best
Apartment 5plus
$327.6K
$286.7K – $382.2K
NOI $22,933 @ 7.0% cap · market cap 199.42%
Theoretical Best
Office A
$482.2K
$422.0K – $562.6K
NOI $33,757 @ 7.0% cap · market cap 293.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit brick multifamily property in Detroit's Ravendale subdivision.
Where is this duplex located?
The property is located at 13445 Maiden St Detroit, MI.
What are key features of this property?
This property features: Two‑unit brick multifamily property.; Located in the Ravendale subdivision.; Investment opportunity with potential.
