Two-Unit Duplex with
For Sale
$339,000
1445 Lakepointe St, Grosse Pointe Park, MI 48230
Move-in-ready duplex with separate living spaces, refreshed interiors, a deep backyard, and dedicated garage parking for each residence.
Property Size1,789 SF
Price / SF$189.49
Days on Market11
Property Features for 1445 Lakepointe St
General Information
Standard status
Active
Size
1,789 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,883
Building Details
Buildings
1
Stories
2
Listing Agency:
Sine & Monaghan LLC
(313) 600-4019
Listed By:
Charlene Williams
(313) 600-4019
Source:
Exprealty
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 21 at 2:05PM
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 Sine & Monaghan LLC
Investment Insights
Based on property information with market context.
This 1,789-square-foot duplex contains two separate residences. The first-floor unit offers two bedrooms, one full bath, a dining room, hardwood floors, freshly painted rooms, updated lighting, and an updated kitchen and bath. The upper unit includes one bedroom, one full bath, hardwood flooring, a living area, dining space, and rear access through a mudroom. A front porch adds outdoor entry space, while the two-car garage provides one garage space for each unit. The property also includes a deep backyard.
The home is located in Grosse Pointe Park near Charlevoix-area restaurants and nightlife, with West Park shopping, dining, and entertainment a few blocks away. 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, courts, theaters, and seasonal recreation.
The home is located in Grosse Pointe Park near Charlevoix-area restaurants and nightlife, with West Park shopping, dining, and entertainment a few blocks away. 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, courts, theaters, and seasonal recreation.
Key Highlights
- 1,789‑square‑foot duplex with two separate residential units
- First‑floor unit has 2 bedrooms, 1 full bath, dining room, and refreshed kitchen and bath
- Second‑floor unit includes 1 bedroom, 1 full bath, living area, and dining room
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 - Move-in-ready duplex with separate living spaces, refreshed interiors, a deep backyard, and dedicated garage parking for each residence.
Where is this duplex located?
The property is located at 1445 Lakepointe St 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: 1,789‑square‑foot duplex with two separate residential units; First‑floor unit has 2 bedrooms, 1 full bath, dining room, and refreshed kitchen and bath; Second‑floor unit includes 1 bedroom, 1 full bath, living area, and dining room
