Renovated Two-Unit
New
For Sale
$479,900
7436 Oakland St, Detroit, MI 48211
Vacant duplex with updated interiors, two-bedroom residences, and flexible occupancy options.
Property Size2,166 SF
Price / SF$221.56
Days on Market5
Property Features for 7436 Oakland St
General Information
Standard status
Active
Size
2,166 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,352
Building Details
Building Size
2,166 SF
Year Built
1910
Units
2
Listing Agency:
Downtown Realty
Listed By:
Marta Kopania · License #6501424283
(734) 301-6553
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 8:13AM
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 Downtown Realty
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,166 square feet and was comprehensively renovated from the interior. Each residence offers 2 bedrooms and 1 full bathroom, with open living areas, oversized windows, wide-plank flooring, recessed lighting, exposed-brick details, and neutral finishes. Kitchens include quartz countertops, contemporary cabinetry, tiled backsplashes, stainless-steel appliances, and ample work surfaces. The bathrooms feature modern vanities, updated tile, and glass-enclosed showers.
The property is currently vacant, allowing a purchaser to establish new leases or occupy one residence while leasing the other. Built in 1910, it is located near New Center, Midtown, Wayne State University, the College for Creative Studies, Henry Ford Hospital, the Fisher Building, the QLINE, Eastern Market, and Downtown Detroit. WalkScore is 83, BikeScore is 74, and TransitScore is 53.
The property is currently vacant, allowing a purchaser to establish new leases or occupy one residence while leasing the other. Built in 1910, it is located near New Center, Midtown, Wayne State University, the College for Creative Studies, Henry Ford Hospital, the Fisher Building, the QLINE, Eastern Market, and Downtown Detroit. WalkScore is 83, BikeScore is 74, and TransitScore is 53.
Key Highlights
- Approximately 2,166 square feet with two residential units
- Each unit includes 2 bedrooms and 1 full bathroom
- Full‑gut renovation with updated kitchens and bathrooms
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
$24,754
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
5.16%
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%
$495,080
$495.1K
Cap Rate 7%
$353,629
$353.6K
Cap Rate 9%
$275,044
$275.0K
Market Conditions
NOI Build-Up for 2,166 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
$37.7K $17.40/SF
− Vacancy
−$2.3K −$1.07/SF
EGI
$35.4K $16.33/SF
− OpEx
−$10.6K −$4.90/SF
NOI
$24.8K $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 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%
$495,080
Cap Rate 7%
$353,629
Cap Rate 9%
$275,044
Alternative Uses
Best Use
Multifamily LT 5
$353.6K
$309.4K – $412.6K
NOI $24,754 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$324.6K
$284.0K – $378.7K
NOI $22,723 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$477.8K
$418.1K – $557.5K
NOI $33,448 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 48211, MI
5,447
Population
2,518
Households
2.2
Avg Household Size
32
Median Age
16%
College-Educated
74%
High-School Grad
4.2 sq mi
ZIP Area
1,297
Density / Sq Mi
$33,347
Median Household Income
$23,172
Median Earnings
$985
Median Rent
$66,900
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with updated interiors, two-bedroom residences, and flexible occupancy options.
Where is this duplex located?
The property is located at 7436 Oakland St Detroit, MI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Approximately 2,166 square feet with two residential units; Each unit includes 2 bedrooms and 1 full bathroom; Full‑gut renovation with updated kitchens and bathrooms
