Duplex with Central
For Sale
$414,900
Pending
2009 W 14 Mile Road, Royal Oak, MI 48073
MULTI_FAMILY - Other - Royal Oak, MI
Property Size2,027 SF
Lot Size0.24 Acres
Days on Market94
Property Features for 2009 W 14 Mile Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3
Parking
6
Pets allowed
Yes
Interior features
Laundry Facility
Exterior features
Fenced
Fencing
Fenced
Subdivision
Nordwood Estates
Elementary school district
Royal Oak
Middle school district
Royal Oak
High school district
Royal Oak
Directions
South Side Of 14 Mile Rd Between Coolidge And Crooks Rd, Set Back From Road 2009 & 2011 W. 14 Mile Rd.
Standard status
Pending
APN
2505226003
Size
2,027 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
T1N, R11E, SEC 5 NORDWOOD ESTATES SUB LOT 45
Tax Annual Amount
8686
Legal Description
T1N, R11E, SEC 5 NORDWOOD ESTATES SUB LOT 45
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Community Choice Realty Inc
(248) 729-0011
Listed By:
Laith Bachi
(248) 251-6299
Added: May 20
Changed: Aug 11
Last Checked: Aug 21 at 5:06AM
MLS# 20261036498
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 duplex offers two separate addresses, 2009 and 2011 W 14 Mile Rd., with each side designed for similar living space. Each unit includes two bedrooms and one full bathroom. The property was built in 1983 and features brick construction with an asphalt roof, forced-air heating, and central air with ceiling fans. A laundry facility and fenced exterior elements support day-to-day convenience.
The seller states both units were fully remodeled, with brand new AC units, furnaces, and hot water tanks installed in 2020. Tenants assume all separate metered utilities, while the owner is responsible for grass and snow shoveling only. Ample parking is available in the rear of the home with a private fence.
With public water service and forced-air/central cooling in place, the duplex is positioned as a straightforward rental opportunity in a multi-family zoned setting within Royal Oak.
The seller states both units were fully remodeled, with brand new AC units, furnaces, and hot water tanks installed in 2020. Tenants assume all separate metered utilities, while the owner is responsible for grass and snow shoveling only. Ample parking is available in the rear of the home with a private fence.
With public water service and forced-air/central cooling in place, the duplex is positioned as a straightforward rental opportunity in a multi-family zoned setting within Royal Oak.
Key Highlights
- Duplex with addresses 2009 and 2011 W 14 Mile Rd, Royal Oak
- Two bedrooms and one full bathroom in each unit
- Both units remodeled in 2020 with brand new AC units, furnaces, and hot water tanks
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
$26,830
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
6.47%
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%
$536,600
$536.6K
Cap Rate 7%
$383,286
$383.3K
Cap Rate 9%
$298,111
$298.1K
Market Conditions
NOI Build-Up for 2,027 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
$40.1K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$38.3K $18.91/SF
− OpEx
−$11.5K −$5.67/SF
NOI
$26.8K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /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%
$536,600
Cap Rate 7%
$383,286
Cap Rate 9%
$298,111
Alternative Uses
Best Use
Multifamily LT 5
$383.3K
$335.4K – $447.2K
NOI $26,830 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$355.2K
$310.8K – $414.4K
NOI $24,864 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$437.2K
$382.6K – $510.1K
NOI $30,604 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 48073, MI
33,658
Population
17,551
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
97%
High-School Grad
7.4 sq mi
ZIP Area
4,548
Density / Sq Mi
$86,426
Median Household Income
$58,525
Median Earnings
$1,245
Median Rent
$302,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with central air; each unit offers two bedrooms and one full bathroom.
Where is this duplex located?
The property is located at 2009 W 14 Mile Road Royal Oak, MI.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Duplex with addresses 2009 and 2011 W 14 Mile Rd, Royal Oak; Two bedrooms and one full bathroom in each unit; Both units remodeled in 2020 with brand new AC units, furnaces, and hot water tanks
