Renovated Two-Unit
New
For Sale
$329,900
3000 Van Dyke St, Detroit, MI 48214
Each residence has two bedrooms, one bathroom, and a private entrance, with laundry and storage in the shared basement.
Property Size2,300 SF
Days on Market3
Property Features for 3000 Van Dyke St
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,522
Amenities
private entry
shared basement laundry/storage area
Building Details
Building Size
2,300 SF
Year Built
1914
Units
2
Listing Agency:
Century 21 Professionals
Listed By:
Laurie Davis · License #6501315922
(586) 321-5507
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 3:02PM
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 Century 21 Professionals
Investment Insights
Based on property information with market context.
This duplex contains two residences, each configured with two bedrooms and one bathroom. Both units have private entrances, while a shared basement provides laundry and storage space. The property was built in 1914 and has been renovated.
The building is at 3000 Van Dyke St in Detroit, north of West Village and next to Indian Village. Walk Score is 36, Bike Score is 48, and Transit Score is 46.
The building is at 3000 Van Dyke St in Detroit, north of West Village and next to Indian Village. Walk Score is 36, Bike Score is 48, and Transit Score is 46.
Key Highlights
- Two units, each with 2 bedrooms and 1 bath
- Private entrance for each residence
- Shared basement laundry and storage area
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
$26,286
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
7.97%
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%
$525,720
$525.7K
Cap Rate 7%
$375,514
$375.5K
Cap Rate 9%
$292,067
$292.1K
Market Conditions
NOI Build-Up for 2,300 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
$40.0K $17.40/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$37.6K $16.33/SF
− OpEx
−$11.3K −$4.90/SF
NOI
$26.3K $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%
$525,720
Cap Rate 7%
$375,514
Cap Rate 9%
$292,067
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,129 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
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 - Each residence has two bedrooms, one bathroom, and a private entrance, with laundry and storage in the shared basement.
Where is this duplex located?
The property is located at 3000 Van Dyke St Detroit, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bath; Private entrance for each residence; Shared basement laundry and storage area
