Updated Duplex with
For Sale
$265,000
19955 Schaefer Hwy, Detroit, MI 48235
Fully occupied two-unit property with separate utility metering and recent improvements to major building systems.
Property Size2,444 SF
Price / SF$108.43
Days on Market19
Property Features for 19955 Schaefer Hwy
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,455
Listing Agency:
Oak and Stone Real Estate
(248) 980-7952
Listed By:
Christian Brown
(248) 980-7952
Source:
Exprealty
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 9:10PM
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 Oak and Stone Real Estate
Investment Insights
Based on property information with market context.
This 1958 duplex is fully occupied and configured with three bedrooms in each unit. The property includes large basement storage areas, while recent improvements include a roof replacement, updated bathrooms, new furnaces, kitchen appliances, and washers and dryers. Electric and gas are individually metered for the units.
The property is located on Schaefer Hwy in Detroit’s upper west side. Walk Score is 29, indicating a car-dependent setting; Transit Score is 46, with some transit available, and Bike Score is 43, classified as somewhat bikeable.
The property is located on Schaefer Hwy in Detroit’s upper west side. Walk Score is 29, indicating a car-dependent setting; Transit Score is 46, with some transit available, and Bike Score is 43, classified as somewhat bikeable.
Key Highlights
- Fully occupied duplex with 3 BR in each unit
- Large basement storage areas
- Recent roof, bathroom, furnace, and appliance updates
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,251
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$485,020
$485.0K
Cap Rate 7%
$346,443
$346.4K
Cap Rate 9%
$269,456
$269.5K
Market Conditions
NOI Build-Up for 2,444 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.7K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.6K $14.17/SF
− OpEx
−$10.4K −$4.25/SF
NOI
$24.3K $9.92/SF
Area
ZIP 48235
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$485,020
Cap Rate 7%
$346,443
Cap Rate 9%
$269,456
Alternative Uses
Best Use
Multifamily LT 5
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$306.9K
$268.6K – $358.1K
NOI $21,485 @ 7.0% cap · market cap 8.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with separate utility metering and recent improvements to major building systems.
Where is this duplex located?
The property is located at 19955 Schaefer Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Fully occupied duplex with 3 BR in each unit; Large basement storage areas; Recent roof, bathroom, furnace, and appliance updates
