Updated Two-Unit
New
For Sale
$299,000
20351 E 8 Mile Road, Saint Clair Shores, MI 48080
MULTIFAMILY, Saint Clair Shores, MI
Property Size2,000 SF
Lot Size0.13 Acres
Price / SF$149.50
Days on Market5
Property Features for 20351 E 8 Mile Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Patio and Porch features
Porch
Interior features
Ceramic Floors, Hardwood Floors
Exterior features
Porch, Sidewalks, Street Lights
Appliances
Disposal, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
Dalby & Campbell Mack Park # 01
Elementary school district
South Lake Schools
Middle school district
South Lake Schools
High school district
South Lake Schools
Standard status
Active
APN
09-14-33-360-022
Size
2,000 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
6035
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
new kitchen
fresh paint
new central air
updated kitchen
updated bath
wall air conditioning
partially finished basement
hardwood floors
vinyl windows
separate meters
Building Details
Year built
1961
Floors in Building
2
Number of units
2
Architectural style
Colonial
Listing Agency:
RE/MAX First
(586) 799-8000
Listed By:
Kelly Demske · License #291600
(586) 405-6109
Added: Aug 24
Last Checked: Aug 28 at 12:06AM
MLS# 50219577
Copyright © 2026 Multiple Listing Service MiRealSource. 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 2,000-square-foot duplex contains two residences with identical floor plans. Both units feature hardwood floors, vinyl windows, updated PEX plumbing, and separate gas, electric, and water meters. The 20351 unit has a new kitchen and central air installed in June 2026, along with fresh interior paint. The 20353 unit includes an updated kitchen and bath, wall air conditioning, and a partially finished basement. New driveways and walkways serve both residences, while parking is positioned behind the building.
The property sits at 20351 E 8 Mile Road in Saint Clair Shores, with vehicle access to the rear from Parkside. One residence is vacant and available for viewing; the other is tenant-occupied and viewable with an accepted offer. Built in 1961, the Colonial-style property also includes porches, sidewalks, street lights, forced-air heat, public water, and a roof approximately 8 years old.
The property sits at 20351 E 8 Mile Road in Saint Clair Shores, with vehicle access to the rear from Parkside. One residence is vacant and available for viewing; the other is tenant-occupied and viewable with an accepted offer. Built in 1961, the Colonial-style property also includes porches, sidewalks, street lights, forced-air heat, public water, and a roof approximately 8 years old.
Key Highlights
- Two‑unit duplex with identical floor plans and 2,000 square feet
- 0.13‑acre parcel at 20351 E 8 Mile Road, Saint Clair Shores, MI 48080
- Separate gas, electric, and water meters for each unit
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
$21,172
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
7.08%
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%
$423,440
$423.4K
Cap Rate 7%
$302,457
$302.5K
Cap Rate 9%
$235,244
$235.2K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$2.2K −$1.08/SF
EGI
$30.2K $15.12/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.2K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /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%
$423,440
Cap Rate 7%
$302,457
Cap Rate 9%
$235,244
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $352.9K
NOI $21,172 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$268.3K
$234.8K – $313.0K
NOI $18,782 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
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 - Two matching residences offer hardwood floors, separate utility metering, and rear parking reached from Parkside.
Where is this duplex located?
The property is located at 20351 E 8 Mile Road Saint Clair Shores, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with identical floor plans and 2,000 square feet; 0.13‑acre parcel at 20351 E 8 Mile Road, Saint Clair Shores, MI 48080; Separate gas, electric, and water meters for each unit
