Renovated Duplex With Two
For Sale
$239,999
1452 Collingwood Street, Detroit, MI 48206
Multifamily, 2 Story, Detroit, MI
Property Size2,016 SF
Lot Size0.08 Acres
Price / SF$119.05
Days on Market103
Property Features for 1452 Collingwood Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Pets allowed
Yes
Subdivision
Ranneys Blvd Sub
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
W off Hamilton onto Collingwood
Standard status
Active
APN
W06I002889S
Size
2,016 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
N COLLINGWOOD 41 RANNEYS BLVD SUB L28 P72 PLATS, W C R 6/150 30 X 120
Tax Annual Amount
3031
Legal Description
N COLLINGWOOD 41 RANNEYS BLVD SUB L28 P72 PLATS, W C R 6/150 30 X 120
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
KW Metro · Keller Williams Realty
(248) 288-3500
Listed By:
Demetrius Scott
(800) 979-3591
Added: Jun 4
Changed: Sep 12
Last Checked: Sep 14 at 7:06AM
MLS# 20261041484
Copyright © 2026 Realcomp Limited II. 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 duplex contains 2,016 square feet across two residential units, with six bedrooms configured as two 3-bedroom residences. The property has undergone renovations that added updated interiors and modern finishes while retaining its brick construction. Forced-air heating and public water service are in place, and the home was built in 1921.
Set in Detroit’s 48206 postal area, the property is positioned near Downtown Detroit, Midtown, major hospitals, universities, parks, and expressways. Its 0.08-acre lot and multifamily residential zoning support the existing two-unit configuration.
Set in Detroit’s 48206 postal area, the property is positioned near Downtown Detroit, Midtown, major hospitals, universities, parks, and expressways. Its 0.08-acre lot and multifamily residential zoning support the existing two-unit configuration.
Key Highlights
- Two residential units with six total bedrooms
- Two 3‑bedroom unit layouts
- 2,016 square feet of property size
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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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
View Realmo Analytics
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 - Brick two-unit property with updated interiors and multifamily residential zoning.
Where is this duplex located?
The property is located at 1452 Collingwood Street 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: Two residential units with six total bedrooms; Two 3‑bedroom unit layouts; 2,016 square feet of property size
