Renovated Four-Bedroom
For Sale
$629,800
2080 Gladstone St, Detroit, MI 48206
Two spacious units combine updated finishes, in-unit laundry, fireplaces, and shared basement storage.
Property Size4,852 SF
Days on Market128
Property Features for 2080 Gladstone St
General Information
Standard status
Active
Size
4,852 SF
Property subtype
Investment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,834
Amenities
in-unit laundry
electric fireplaces
basement storage
fully fenced lot
walk-in pantry
Building Details
Building Size
4,852 SF
Year Built
1922
Buildings
1
Units
2
Listing Agency:
DOBI Real Estate
(248) 385-3350
Listed By:
Zaya Shamoieal
(248) 385-3350
Source:
Elliman
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 31 at 6:16PM
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 DOBI Real Estate
Investment Insights
Based on property information with market context.
This fully renovated duplex contains more than 4,800 square feet across two residences, with each unit offering over 2,400 square feet. Both layouts include four bedrooms, a flex or bonus room, and two full bathrooms. Interior improvements include replacement windows and treatments, updated mechanical systems, luxury vinyl plank flooring in the main living areas, bedroom carpeting, granite kitchen counters, and shaker cabinetry. Each bathroom includes a tub and separate shower, while the second-floor residence adds a walk-in pantry. In-unit laundry, electric fireplaces, and abundant natural light add to the configuration.
A shared basement provides storage and common-area space. The property also includes a garage with a new roof, a new roof on the home, refreshed landscaping, and a fully enclosed fenced lot. Located on Gladstone Street in Detroit’s Virginia Park neighborhood, the duplex is near The Congregation, The Rectory, Henry Ford Hospital, and Gordon Park, with downtown Detroit dining, shopping, and entertainment nearby. WalkScore is 40, BikeScore is 45, and TransitScore is 48.
A shared basement provides storage and common-area space. The property also includes a garage with a new roof, a new roof on the home, refreshed landscaping, and a fully enclosed fenced lot. Located on Gladstone Street in Detroit’s Virginia Park neighborhood, the duplex is near The Congregation, The Rectory, Henry Ford Hospital, and Gordon Park, with downtown Detroit dining, shopping, and entertainment nearby. WalkScore is 40, BikeScore is 45, and TransitScore is 48.
Key Highlights
- More than 4,800 square feet of total living space
- Two units, each with over 2,400 square feet, four bedrooms, a flex room, and two full bathrooms
- Renovated with new windows, updated mechanical systems, LVP flooring, bedroom carpet, granite, and shaker cabinetry
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
$55,451
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
8.80%
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%
$1,109,020
$1.1M
Cap Rate 7%
$792,157
$792.2K
Cap Rate 9%
$616,122
$616.1K
Market Conditions
NOI Build-Up for 4,852 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
$84.4K $17.40/SF
− Vacancy
−$5.2K −$1.07/SF
EGI
$79.2K $16.33/SF
− OpEx
−$23.8K −$4.90/SF
NOI
$55.5K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /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%
$1,109,020
Cap Rate 7%
$792,157
Cap Rate 9%
$616,122
Alternative Uses
Best Use
Multifamily LT 5
$792.2K
$693.1K – $924.2K
NOI $55,451 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$727.2K
$636.3K – $848.4K
NOI $50,901 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.07M
$936.6K – $1.25M
NOI $74,926 @ 7.0% cap · market cap 11.90%
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
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
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 spacious units combine updated finishes, in-unit laundry, fireplaces, and shared basement storage.
Where is this duplex located?
The property is located at 2080 Gladstone St Detroit, MI.
What is the asking price?
The asking price for this property is $629,800.
What are key features of this property?
This property features: More than 4,800 square feet of total living space; Two units, each with over 2,400 square feet, four bedrooms, a flex room, and two full bathrooms; Renovated with new windows, updated mechanical systems, LVP flooring, bedroom carpet, granite, and shaker cabinetry
