Renovated Duplex with Private
For Sale
$264,999
18894 Reed St, Melvindale, MI 48122
Two-unit property with updated interiors, a full basement, and a detached two-car garage.
Property Size2,096 SF
Price / SF$126.43
Days on Market47
Property Features for 18894 Reed St
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Multi-Family
Building Details
Year Built
1926
Listing Agency:
Exp Z Real Estate
(248) 937-1337
Listed By:
In Network Real Estate Group
(248) 655-7955
Source:
Innetworkrealestate
Added: Sep 19
Changed: Nov 3
Last Checked: Nov 3 at 5:56AM
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 Z Real Estate
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Investment Insights
Based on property information with market context.
This 2,096-square-foot duplex, built in 1926, contains two separate units with individual private entrances. Both units feature updated kitchens, bathrooms, and flooring, creating a consistent renovated interior throughout the property. The full basement is substantially finished but still requires flooring to complete the space, while the two-car garage adds on-site parking and storage capacity.
Located at 18894 Reed St. in Melvindale, the property is near shopping, restaurants, and downtown Melvindale. The two-unit configuration supports flexible occupancy, including use of one unit while leasing the other or leasing both units.
Located at 18894 Reed St. in Melvindale, the property is near shopping, restaurants, and downtown Melvindale. The two-unit configuration supports flexible occupancy, including use of one unit while leasing the other or leasing both units.
Key Highlights
- 2,096‑square‑foot duplex with two separate units
- Each unit has its own private entrance
- Updated kitchens, bathrooms, and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,577
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,540
$411.5K
Cap Rate 7%
$293,957
$294.0K
Cap Rate 9%
$228,633
$228.6K
Market Conditions
NOI Build-Up for 2,096 SF
Gross rent
$31.4K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$29.4K $14.03/SF
− OpEx
−$8.8K −$4.21/SF
NOI
$20.6K $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%
$411,540
Cap Rate 7%
$293,957
Cap Rate 9%
$228,633
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.2K – $343.0K
NOI $20,577 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$269.9K
$236.2K – $314.9K
NOI $18,895 @ 7.0% cap · market cap 7.13%
Theoretical Best
Specialty Retail
$388.1K
$339.6K – $452.7K
NOI $27,164 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
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Business Placement
Demographics for 48122, MI
12,825
Population
4,693
Households
2.7
Avg Household Size
32
Median Age
15%
College-Educated
70%
High-School Grad
2.7 sq mi
ZIP Area
4,750
Density / Sq Mi
$41,356
Median Household Income
$30,744
Median Earnings
$1,116
Median Rent
$113,100
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-unit property with updated interiors, a full basement, and a detached two-car garage.
Where is this duplex located?
The property is located at 18894 Reed St Melvindale, MI.
What is the asking price?
The asking price for this property is $264,999.
What are key features of this property?
This property features: 2,096‑square‑foot duplex with two separate units; Each unit has its own private entrance; Updated kitchens, bathrooms, and flooring
