Updated Brick
For Sale
$265,000
19955 Schaefer Highway, Detroit, MI 48235
Multifamily, 2 Story, Detroit, MI
Property Size2,444 SF
Lot Size0.12 Acres
Price / SF$108.43
Days on Market12
Property Features for 19955 Schaefer Highway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 6
Pets allowed
Call
Subdivision
Manhattan City Park
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Head west onto Pembroke Ave, then turn right onto Schaefer Hwy. The house will be on your left-hand side.
Special listing conditions
Real Estate Owned
Standard status
Active
APN
W22I030411C2
Size
2,444 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
W SCHAEFER HWY 43&44 AND E 8 FT VAC ALLEY ADJ MANHATTAN CITY PARK SUB L39 P28 PLATS, W C R 22/216 40 X 133.04
Tax Annual Amount
7455
Legal Description
W SCHAEFER HWY 43&44 AND E 8 FT VAC ALLEY ADJ MANHATTAN CITY PARK SUB L39 P28 PLATS, W C R 22/216 40 X 133.04
Utilities
Heating system
Forced Air
Amenities
basement storage
washer/dryer
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Oak and Stone Real Estate
(248) 266-0584
Listed By:
Christian Brown
(248) 980-7952
Added: Aug 20
Changed: Aug 27
Last Checked: Aug 31 at 1:06PM
MLS# 20261064827
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied duplex contains two three-bedroom units within a 2,444-square-foot, two-story brick building constructed in 1958. Each residence has access to basement storage, while forced-air heating serves the property. Recent improvements include the roof, bathrooms, furnaces, kitchen appliances, and laundry equipment.
Electricity and gas are separately metered for the units. The property occupies 0.12 acres at 19955 Schaefer Highway in Detroit, Michigan, and carries Multi-Family zoning. The configuration provides two residential units with three bedrooms apiece.
Electricity and gas are separately metered for the units. The property occupies 0.12 acres at 19955 Schaefer Highway in Detroit, Michigan, and carries Multi-Family zoning. The configuration provides two residential units with three bedrooms apiece.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each unit
- 2,444 square feet on a 0.12‑acre lot
- Fully occupied with separately metered electric and gas
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
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
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-story property with separate utility metering and basement storage for both residences.
Where is this duplex located?
The property is located at 19955 Schaefer Highway 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: Two‑unit duplex with 3 bedrooms in each unit; 2,444 square feet on a 0.12‑acre lot; Fully occupied with separately metered electric and gas
