Brick Two-Unit
For Sale
Contact for pricing
Pending
1547 LAWRENCE Street, Detroit, MI 48206
Two residential units provide matching three-bedroom, one-bath layouts.
Property Size2,802 SF
Days on Market642
Property Features for 1547 LAWRENCE Street
General Information
Standard status
Pending
Size
2,802 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$350
Building Details
Year Built
1923
Construction
brick
Listing Agency:
Keller Williams Realty-Great Lakes
(586) 541-4000
Listed By:
Erick Monzo · License #6501330189
(586) 210-3350
Source:
Exitrealty
Added: Jan 15, 2025
Changed: Oct 7
Last Checked: Oct 7 at 8:43AM
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 Keller Williams Realty-Great Lakes
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Investment Insights
Based on property information with market context.
This brick duplex contains 2,802 square feet and was built in 1923. The property is arranged as two residential units, with each unit offering 3 bedrooms and 1 bath. The configuration provides a consistent layout across both sides of the building.
Located at 1547 Lawrence Street in Detroit, Michigan, the property is identified within the Lawrence Park Sub. Its two-unit design supports continued residential occupancy or an owner-occupied arrangement, subject to the applicable ownership and development requirements.
Located at 1547 Lawrence Street in Detroit, Michigan, the property is identified within the Lawrence Park Sub. Its two-unit design supports continued residential occupancy or an owner-occupied arrangement, subject to the applicable ownership and development requirements.
Key Highlights
- Two‑unit duplex with 2,802 square feet
- Each unit includes 3 bedrooms and 1 bath
- Solid brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,395
Suggested Prices Based on Cap Rates
Cap Rate 5%
$587,900
$587.9K
Cap Rate 7%
$419,929
$419.9K
Cap Rate 9%
$326,611
$326.6K
Market Conditions
NOI Build-Up for 2,802 SF
Gross rent
$57.2K $20.40/SF
− Vacancy
−$3.7K −$1.33/SF
EGI
$53.4K $19.07/SF
− OpEx
−$24.1K −$8.58/SF
NOI
$29.4K $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%
$587,900
Cap Rate 7%
$419,929
Cap Rate 9%
$326,611
Alternative Uses
Best Use
Multifamily LT 5
$457.5K
$400.3K – $533.7K
NOI $32,023 @ 7.0% cap · market cap 173.10%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.9K
NOI $29,395 @ 7.0% cap · market cap 158.89%
Theoretical Best
Office A
$618.1K
$540.9K – $721.2K
NOI $43,269 @ 7.0% cap · market cap 233.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide matching three-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 1547 LAWRENCE Street Detroit, MI.
What are key features of this property?
This property features: Two‑unit duplex with 2,802 square feet; Each unit includes 3 bedrooms and 1 bath; Solid brick construction
