Renovated Duplex With Two 3-Bed
For Sale
$239,999
1452 Collingwood St, Detroit, MI 48206
Renovated duplex with two 3-bedroom units, totaling six bedrooms, offering updated interior living space.
Property Size2,016 SF
Days on Market56
Property Features for 1452 Collingwood St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,031
Building Details
Building Size
2,016 SF
Year Built
1921
Units
2
Listing Agency:
Keller Williams Royal Oak
Listed By:
Demetrius Scott
(800) 979-3591
Source:
Elliman
Added: Jul 21
Changed: Sep 7
Last Checked: Sep 14 at 7:02AM
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 Keller Williams Royal Oak
Investment Insights
Based on property information with market context.
This renovated duplex includes two separate residential units with a total of six bedrooms, comprised of two 3-bedroom layouts. The property has been updated throughout with modern finishes while maintaining a classic residential feel. With well-proportioned living spaces and natural light, it offers flexible options for owner-occupancy or rental use.
Walk and transit scores indicate the area is car-dependent with some transit availability and a moderate bikeability rating. The property is positioned for convenient access to Downtown Detroit, Midtown, major hospitals, universities, parks, and expressways, supporting day-to-day connectivity for residents.
Overall, the building’s duplex configuration and two 3-bedroom units make it a practical fit for buyers seeking an income-oriented residential property with clear unit separation.
Walk and transit scores indicate the area is car-dependent with some transit availability and a moderate bikeability rating. The property is positioned for convenient access to Downtown Detroit, Midtown, major hospitals, universities, parks, and expressways, supporting day-to-day connectivity for residents.
Overall, the building’s duplex configuration and two 3-bedroom units make it a practical fit for buyers seeking an income-oriented residential property with clear unit separation.
Key Highlights
- Renovated duplex built in 1921
- Two‑unit layout with 6 total bedrooms: two 3‑bedroom units
- Potential rental income up to $3,500 per month
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
$21,149
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
8.81%
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%
$422,980
$423.0K
Cap Rate 7%
$302,129
$302.1K
Cap Rate 9%
$234,989
$235.0K
Market Conditions
NOI Build-Up for 2,016 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
$41.1K $20.40/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$38.5K $19.07/SF
− OpEx
−$17.3K −$8.58/SF
NOI
$21.1K $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 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%
$422,980
Cap Rate 7%
$302,129
Cap Rate 9%
$234,989
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$302.1K
$264.4K – $352.5K
NOI $21,149 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$444.7K
$389.2K – $518.9K
NOI $31,132 @ 7.0% cap · market cap 12.97%
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
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
Median Home Value
Check the figures for this property
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 - Renovated duplex with two 3-bedroom units, totaling six bedrooms, offering updated interior living space.
Where is this duplex located?
The property is located at 1452 Collingwood St Detroit, MI.
What is the asking price?
The asking price for this property is $239,999.
What are key features of this property?
This property features: Renovated duplex built in 1921; Two‑unit layout with 6 total bedrooms: two 3‑bedroom units; Potential rental income up to $3,500 per month
