Two-Unit Duplex with Separate
New
For Sale
$430,000
1470 Junction St E, Plymouth, MI 48170
Both residences are leased and include private laundry rooms, front and rear access, and two-bedroom layouts.
Property Size1,700 SF
Days on Market7
Property Features for 1470 Junction St E
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,392
Amenities
laundry room
fenced parking area
storage shed
Building Details
Building Size
1,700 SF
Year Built
1979
Buildings
1
Units
2
Listing Agency:
Coldwell Banker Preferred Realtors
Listed By:
Nadia Alkateeb
(248) 310-3878
Source:
Elliman
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 28 at 9:45AM
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 Coldwell Banker Preferred Realtors
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Investment Insights
Based on property information with market context.
This 1979 duplex contains two residences, each arranged with two bedrooms, one full bathroom, a kitchen area, and a dining room. Newer flooring and a dedicated laundry room serve each unit, with entrances at both the front and rear. A shared storage shed provides additional on-site storage.
A recently paved driveway leads to fenced parking behind the building. The property is near the Fuyao plant on Sheldon Road and close to the expressway. Both units are leased, with one lease extending through March and the other through August.
A recently paved driveway leads to fenced parking behind the building. The property is near the Fuyao plant on Sheldon Road and close to the expressway. Both units are leased, with one lease extending through March and the other through August.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- Both residences are currently leased; lease terms run through March and August
- Each unit has newer flooring, a kitchen area, dining room, and private laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,690
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,800
$333.8K
Cap Rate 7%
$238,429
$238.4K
Cap Rate 9%
$185,444
$185.4K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$25.5K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$23.8K $14.03/SF
− OpEx
−$7.2K −$4.21/SF
NOI
$16.7K $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 Rate 5%
$333,800
Cap Rate 7%
$238,429
Cap Rate 9%
$185,444
Alternative Uses
Best Use
Multifamily LT 5
$238.4K
$208.6K – $278.2K
NOI $16,690 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$218.9K
$191.6K – $255.4K
NOI $15,325 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 48170, MI
41,069
Population
18,184
Households
2.3
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
1,190
Density / Sq Mi
$109,442
Median Household Income
$68,920
Median Earnings
$1,114
Median Rent
$400,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and include private laundry rooms, front and rear access, and two-bedroom layouts.
Where is this duplex located?
The property is located at 1470 Junction St E Plymouth, MI.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; Both residences are currently leased; lease terms run through March and August; Each unit has newer flooring, a kitchen area, dining room, and private laundry room
