New Construction
1541 Elm St, Detroit, MI 48216
For Sale
$799,000
Two matching residences feature private entrances, full kitchens, laundry hookups, and central air conditioning.
Property Size3,980 SF
Price / SF$200.75
Days on Market101
Property Features for 1541 Elm St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
full kitchen
quartz countertops
gas
laundry hookups
central air conditioning
private entry
heavy-duty security doors
smart locks
smart thermostats
24-hour surveillance cameras
Building Details
Year Built
Listing Agency:
Keller Williams Paint Creek
Listed By:
Briyana Jordan · License #6501427277
(616) 469-7164
Source:
Vmrealestatemichigan
Added: Jul 30
Changed: Nov 6
Last Checked: Nov 6 at 9:28AM
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 Paint Creek
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Investment Insights
Based on property information with market context.
Built in 2026, this two-unit duplex contains approximately 3,980 square feet across two matching residences. Each unit has four bedrooms, a living area, a full kitchen with quartz countertops, laundry hookups, central air conditioning, and a private entrance. Security features include heavy-duty doors, smart locks, smart thermostats, and 24-hour surveillance cameras.
The property is at 1541 Elm Street in Detroit. A rear parking area provides eight spaces. The layout is described as having an option for conversion to four units, and a tax exemption is in place through 2033.
The property is at 1541 Elm Street in Detroit. A rear parking area provides eight spaces. The layout is described as having an option for conversion to four units, and a tax exemption is in place through 2033.
Key Highlights
- Two‑unit property with approximately 3,980 square feet
- Built in 2026
- Each residence has four bedrooms and a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,485
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,700
$909.7K
Cap Rate 7%
$649,786
$649.8K
Cap Rate 9%
$505,389
$505.4K
Market Conditions
NOI Build-Up for 3,980 SF
Gross rent
$69.3K $17.40/SF
− Vacancy
−$4.3K −$1.07/SF
EGI
$65.0K $16.33/SF
− OpEx
−$19.5K −$4.90/SF
NOI
$45.5K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,700
Cap Rate 7%
$649,786
Cap Rate 9%
$505,389
Alternative Uses
Best Use
Multifamily LT 5
$649.8K
$568.6K – $758.1K
NOI $45,485 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$596.5K
$521.9K – $695.9K
NOI $41,753 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$878.0K
$768.3K – $1.02M
NOI $61,460 @ 7.0% cap · market cap 7.69%
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
666
Businesses Nearby
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Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Detroit, MI
Properties on Market for Duplexes in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences feature private entrances, full kitchens, laundry hookups, and central air conditioning.
Where is this duplex located?
The property is located at 1541 Elm St Detroit, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit property with approximately 3,980 square feet; Built in 2026; Each residence has four bedrooms and a private entrance
