Building Details

Year Built 1944

Tenancy Multi

Listing Agency: MVPS Realtors

Listed By: Michael Hines · License #6501366520 Show Phone

Source: Premiermichiganhomesearch

Added: Jul 13 Changed: Oct 1 Last Checked: Oct 15 at 12:44AM

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Investment Insights

Based on property information with market context.

This duplex consists of one building containing two tenant-occupied units. Each unit is supported by a full basement and includes a private fenced backyard. The property also features detached garages for both units, and the roofs are described as newer dimensional roofs.

The home is located near Kelly Road and 8 Mile. Walk and bike scores are provided as 44 and 41, respectively, with a transit score of 41.

For showings, an accepted offer is required prior to viewing the interiors. Please do not visit or approach the property without a confirmed appointment, and do not disturb the tenants.

Key Highlights

• Two tenant‑occupied units in one building, year built 1944
• Each unit has a full basement
• Private fenced backyards for both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,702

Cap Rate

6.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$234,040 $234.0K

Cap Rate 7%

$167,171 $167.2K

Cap Rate 9%

$130,022 $130.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,192 SF

Gross rent

$17.9K $15.00/SF

− Vacancy

−$1.2K −$0.98/SF

EGI

$16.7K $14.03/SF

− OpEx

−$5.0K −$4.21/SF

NOI

$11.7K $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%

$234,040

Cap Rate 7%

$167,171

Cap Rate 9%

$130,022

Alternative Uses

Best Use

Multifamily LT 5

$167.2K

$146.3K – $195.0K (±1% cap)

NOI $11,702 @ 7.0% cap · market cap 6.33%

Second Best

Apartment 5plus

$153.5K

$134.3K – $179.1K (±1% cap)

NOI $10,746 @ 7.0% cap · market cap 5.81%

Theoretical Best

Specialty Retail

$220.7K

$193.1K – $257.5K (±1% cap)

NOI $15,448 @ 7.0% cap · market cap 8.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency HVAC Service Skin Care Clinic Parking Lot & Garage Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

316

Businesses Nearby

Explore this area Business Placement

Demographics for 48225, MI

15,862

Population

6,271

Households

2.5

Avg Household Size

37

Median Age

23%

College-Educated

93%

High-School Grad

2.7 sq mi

ZIP Area

5,875

Density / Sq Mi

$59,248

Median Household Income

$40,558

Median Earnings

$1,304

Median Rent

$140,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two tenant-occupied units each offer full basements, private fenced backyards, and detached garages.

Where is this duplex located?

The property is located at 18925 Roscommon St Harper Woods, MI.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: Two tenant‑occupied units in one building, year built 1944; Each unit has a full basement; Private fenced backyards for both units