Brick Duplex with Covered
For Sale
$299,999
1727 Virginia Park St, Detroit, MI 48206
Two complete residential layouts support separate occupancy within the same building.
Property Size1,553 SF
Days on Market8
Property Features for 1727 Virginia Park St
General Information
Standard status
Active
Size
1,553 SF
Property subtype
Investment
Site & Location
Neighborhood
Lasalle Gardens
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,922
Amenities
covered front porch
fenced backyard
wood flooring
natural gas radiant heat
Building Details
Building Size
1,553 SF
Year Built
1920
Units
2
Construction
brick
Listing Agency:
eXp Realty LLC
Listed By:
Megan Ransome
(248) 453-7758
Source:
Elliman
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 28 at 9:08AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This brick duplex at 1727 Virginia Park St in Detroit contains two units, each with a complete residential layout. Wood flooring runs through the main living areas, and natural gas radiant heat serves the building. A covered porch faces the street, while the fenced backyard provides outdoor space. The property was built in 1920.
The location has a BikeScore of 71, described as Very Bikeable, a WalkScore of 53, described as Somewhat Walkable, and a TransitScore of 51, described as Good Transit.
The location has a BikeScore of 71, described as Very Bikeable, a WalkScore of 53, described as Somewhat Walkable, and a TransitScore of 51, described as Good Transit.
Key Highlights
- Two residential units, each with a complete layout
- Brick construction; built in 1920
- Wood flooring in the main living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,748
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,960
$355.0K
Cap Rate 7%
$253,543
$253.5K
Cap Rate 9%
$197,200
$197.2K
Market Conditions
NOI Build-Up for 1,553 SF
Gross rent
$27.0K $17.40/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$25.4K $16.33/SF
− OpEx
−$7.6K −$4.90/SF
NOI
$17.7K $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%
$354,960
Cap Rate 7%
$253,543
Cap Rate 9%
$197,200
Alternative Uses
Best Use
Multifamily LT 5
$253.5K
$221.9K – $295.8K
NOI $17,748 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$232.7K
$203.7K – $271.5K
NOI $16,292 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$342.6K
$299.8K – $399.7K
NOI $23,982 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,619
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two complete residential layouts support separate occupancy within the same building.
Where is this duplex located?
The property is located at 1727 Virginia Park St Detroit, MI.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Two residential units, each with a complete layout; Brick construction; built in 1920; Wood flooring in the main living areas
