Side-by-Side Brick
For Sale
$605,000
205-207 S Pleasant St, Royal Oak, MI 48067
Two separately metered residences offer private basements, shared outdoor space, and one vacant unit ready for occupancy.
Property Size2,200 SF
Days on Market48
Property Features for 205-207 S Pleasant St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,578
Amenities
hardwood floors
updated appliances
butcher block countertops
shared backyard
washer and dryer
Building Details
Building Size
2,200 SF
Year Built
1951
Buildings
1
Units
2
Construction
brick
Listing Agency:
Keller Williams Royal Oak
Listed By:
Nicole Abbiss · License #6501420918
(989) 284-4292
Source:
Elliman
Added: Sep 15
Changed: Oct 25
Last Checked: Nov 1 at 6:01AM
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 Keller Williams Royal Oak
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Investment Insights
Based on property information with market context.
This 1951 duplex contains two side-by-side residences, each with hardwood flooring, a living room, formal dining area, and kitchen equipped with updated appliances and butcher block countertops. Each unit also includes two bedrooms, an updated full bathroom, generous closet storage, and a private basement with laundry appliances. Separate utilities serve the residences, while the rear yard is shared.
One residence is occupied under a lease extending through May 2027, and the other is vacant for an incoming resident or owner. The property is located at 205 S Pleasant St in Royal Oak, within walking distance of downtown shops, restaurants, grocery stores, and entertainment. Major highway access is also convenient. Walk Score is 62 and Bike Score is 48.
One residence is occupied under a lease extending through May 2027, and the other is vacant for an incoming resident or owner. The property is located at 205 S Pleasant St in Royal Oak, within walking distance of downtown shops, restaurants, grocery stores, and entertainment. Major highway access is also convenient. Walk Score is 62 and Bike Score is 48.
Key Highlights
- Two‑unit side‑by‑side duplex with brick construction
- Each residence includes two bedrooms and an updated full bathroom
- Separate utilities and private basement laundry areas for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,120
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,400
$582.4K
Cap Rate 7%
$416,000
$416.0K
Cap Rate 9%
$323,556
$323.6K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$43.6K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.6K $18.91/SF
− OpEx
−$12.5K −$5.67/SF
NOI
$29.1K $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 Rate 5%
$582,400
Cap Rate 7%
$416,000
Cap Rate 9%
$323,556
Alternative Uses
Best Use
Multifamily LT 5
$416.0K
$364.0K – $485.3K
NOI $29,120 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$385.5K
$337.3K – $449.8K
NOI $26,986 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$474.5K
$415.2K – $553.6K
NOI $33,216 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences offer private basements, shared outdoor space, and one vacant unit ready for occupancy.
Where is this duplex located?
The property is located at 205-207 S Pleasant St Royal Oak, MI.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with brick construction; Each residence includes two bedrooms and an updated full bathroom; Separate utilities and private basement laundry areas for both units
