Two-Unit Duplex with
For Sale
$339,000
1445 Lakepointe Street, Grosse Pointe Park, MI 48230
MULTIFAMILY, Grosse Pointe Park, MI
Property Size1,789 SF
Lot Size0.11 Acres
Price / SF$189.49
Days on Market10
Property Features for 1445 Lakepointe Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family, Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Basement
Interior features
Hardwood Floors
Exterior features
Fenced Yard, Sidewalks, Street Lights
Fencing
Fenced
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
Lake Pointe Heights Sub
Elementary school
Defer Elementary
Middle school
Pierce Middle School
High school
Grosse Pointe South
Elementary school district
Grosse Pointe Public Schools
Middle school district
Grosse Pointe Public Schools
High school district
Grosse Pointe Public Schools
Standard status
Active
APN
39-007-06-0082-000
Size
1,789 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9883
Utilities
Heating system
Forced Air
Water source
Public
Amenities
front porch
mudroom
Building Details
Year built
1924
Floors in Building
2
Number of units
2
Listing Agency:
Sine & Monaghan LLC
(313) 884-7000
Listed By:
Charlene Williams
(313) 600-4019
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# 50218172
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,789-square-foot duplex, built in 1924, contains two separate residences on a 0.11-acre lot. The first-floor unit includes two bedrooms, one full bathroom, a dining room, hardwood flooring, refreshed kitchen and bath areas, updated lighting, and freshly painted interiors. The second-floor unit offers one bedroom, one full bathroom, hardwood floors, a living area, dining room, and rear mudroom. A two-car garage provides separate space for each residence, while the fenced backyard adds outdoor space. Public water serves the property, and forced-air heating is installed.
Located at 1445 Lakepointe Street in Grosse Pointe Park, the property sits one block from restaurants and neighborhood businesses along Charlevoix and a couple of blocks from West Park’s shopping, dining, and entertainment district. Elementary and middle schools are nearby, and Downtown Detroit is approximately 15 minutes away. Residents also have access to two resident-only parks with waterfront and marina amenities, pools, fitness facilities, and other recreation.
Located at 1445 Lakepointe Street in Grosse Pointe Park, the property sits one block from restaurants and neighborhood businesses along Charlevoix and a couple of blocks from West Park’s shopping, dining, and entertainment district. Elementary and middle schools are nearby, and Downtown Detroit is approximately 15 minutes away. Residents also have access to two resident-only parks with waterfront and marina amenities, pools, fitness facilities, and other recreation.
Key Highlights
- Two‑unit duplex with 1,789 square feet of living area
- First‑floor unit with 2 bedrooms and 1 full bathroom
- Second‑floor unit with 1 bedroom and 1 full bathroom
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
$17,564
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
5.18%
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%
$351,280
$351.3K
Cap Rate 7%
$250,914
$250.9K
Cap Rate 9%
$195,156
$195.2K
Market Conditions
NOI Build-Up for 1,789 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
$26.8K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$25.1K $14.03/SF
− OpEx
−$7.5K −$4.21/SF
NOI
$17.6K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /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%
$351,280
Cap Rate 7%
$250,914
Cap Rate 9%
$195,156
Alternative Uses
Best Use
Multifamily LT 5
$250.9K
$219.6K – $292.7K
NOI $17,564 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$230.4K
$201.6K – $268.8K
NOI $16,128 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$331.2K
$289.8K – $386.4K
NOI $23,185 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate living spaces feature hardwood floors, a fenced backyard, and garage parking assigned to each unit.
Where is this duplex located?
The property is located at 1445 Lakepointe Street Grosse Pointe Park, MI.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,789 square feet of living area; First‑floor unit with 2 bedrooms and 1 full bathroom; Second‑floor unit with 1 bedroom and 1 full bathroom
