Updated Duplex with Rental
For Sale
$275,000
17511 Indiana St, Detroit, MI 48221
Two residential units offer updated finishes and flexibility for rental or owner occupancy.
Property Size2,140 SF
Days on Market55
Property Features for 17511 Indiana St
General Information
Standard status
Active
Size
2,140 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,155
Building Details
Building Size
2,140 SF
Year Built
1937
Buildings
1
Units
2
Listed By:
Kaitlyn Pangrazzi · License #6501396235
(248) 727-7262
Source:
Elliman
Added: Aug 13
Changed: Sep 30
Last Checked: Oct 5 at 6:27PM
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 Kaitlyn Pangrazzi
Investment Insights
Based on property information with market context.
Built in 1937, this Detroit duplex contains two residential units with updated finishes and comfortable living areas. The property is currently operated as an Airbnb, with each unit offering a separate residential setup and a range of potential occupancy strategies.
The existing short-term rental arrangement can be continued, or the property may support traditional leasing or an owner-occupant configuration. Its address is 17511 Indiana St. in Detroit, with reported walkability, bicycle access, and public transportation scores of 56, 43, and 49, respectively.
The existing short-term rental arrangement can be continued, or the property may support traditional leasing or an owner-occupant configuration. Its address is 17511 Indiana St. in Detroit, with reported walkability, bicycle access, and public transportation scores of 56, 43, and 49, respectively.
Key Highlights
- Duplex with two residential units
- Updated finishes and refreshed living spaces
- Currently operated as an Airbnb
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,457
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,140
$489.1K
Cap Rate 7%
$349,386
$349.4K
Cap Rate 9%
$271,744
$271.7K
Market Conditions
NOI Build-Up for 2,140 SF
Gross rent
$37.2K $17.40/SF
− Vacancy
−$2.3K −$1.07/SF
EGI
$34.9K $16.33/SF
− OpEx
−$10.5K −$4.90/SF
NOI
$24.5K $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%
$489,140
Cap Rate 7%
$349,386
Cap Rate 9%
$271,744
Alternative Uses
Best Use
Multifamily LT 5
$349.4K
$305.7K – $407.6K
NOI $24,457 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$320.7K
$280.6K – $374.2K
NOI $22,450 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$472.1K
$413.1K – $550.8K
NOI $33,046 @ 7.0% cap · market cap 12.02%
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
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
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 - Two residential units offer updated finishes and flexibility for rental or owner occupancy.
Where is this duplex located?
The property is located at 17511 Indiana St Detroit, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Duplex with two residential units; Updated finishes and refreshed living spaces; Currently operated as an Airbnb
