Brick Duplex with Updated
For Sale
$249,900
1450 E Grand Blvd, Detroit, MI 48211
Two residential units feature newer furnaces and water heaters.
Property Size2,172 SF
Price / SF$115.06
Days on Market10
Property Features for 1450 E Grand Blvd
General Information
Standard status
Active
Size
2,172 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Gratiot Town/Kettering
Additional Details
Multifamily Units
2
Building Details
Year Built
1912
Construction
brick
Listing Agency:
RE/MAX First
Listed By:
Robert P Funk · License #6501112525
(586) 215-8177
Source:
Vmrealestatemichigan
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 23 at 7:41AM
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 RE/MAX First
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Investment Insights
Based on property information with market context.
This 2,172-square-foot duplex was built in 1912 and has a brick exterior. Improvements include replacement windows throughout, along with newer furnaces and water heaters.
The property is at 1450 E Grand Blvd in Detroit, close to downtown.
The property is at 1450 E Grand Blvd in Detroit, close to downtown.
Key Highlights
- Two‑unit duplex with 2,172 square feet
- Brick exterior
- New windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,786
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,720
$455.7K
Cap Rate 7%
$325,514
$325.5K
Cap Rate 9%
$253,178
$253.2K
Market Conditions
NOI Build-Up for 2,172 SF
Gross rent
$44.3K $20.40/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$41.4K $19.07/SF
− OpEx
−$18.6K −$8.58/SF
NOI
$22.8K $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%
$455,720
Cap Rate 7%
$325,514
Cap Rate 9%
$253,178
Alternative Uses
Best Use
Multifamily LT 5
$354.6K
$310.3K – $413.7K
NOI $24,823 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$325.5K
$284.8K – $379.8K
NOI $22,786 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$479.2K
$419.3K – $559.0K
NOI $33,541 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
291
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
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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 feature newer furnaces and water heaters.
Where is this duplex located?
The property is located at 1450 E Grand Blvd Detroit, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,172 square feet; Brick exterior; New windows throughout
