Two-Unit Duplex with Separate
New
For Sale
$275,000
21453 Oxford Ave, Farmington Hills, MI 48336
Two distinct units include updated kitchens and baths, shared basement access, and separately metered utilities.
Property Size1,892 SF
Days on Market7
Property Features for 21453 Oxford Ave
General Information
Standard status
Active
Size
1,892 SF
Property subtype
Investment
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,551
Building Details
Building Size
1,892 SF
Year Built
1925
Buildings
1
Units
2
Listing Agency:
Real Broker LLC
(248) 662-8106
Listed By:
John M Cotter · License #6501337682
(248) 662-8106
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 11 at 11:46AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains a two-bedroom, one-bath lower residence and a one-bedroom, one-bath loft-style upper residence. The lower unit features high ceilings, a large living room, formal dining space, an eat-in kitchen, covered front porch, and basement access. The upper unit includes a bonus room, living area, spacious bedroom, updated kitchen, and full bath. Granite surfaces and ceramic tile appear in the updated kitchens and bathrooms, while rear doors provide access toward the backyard and basement.
The property is located on Oxford Ave in Farmington Hills, with shopping, dining, schools, hospitals, and places of worship nearby. Metro Detroit access is described as convenient, and the property has a walk score of 68 and a bike score of 46. Each unit has separate gas and electric metering. Shared basement space serves the building, with mechanicals approximately 7 years old and a dimensional shingle roof around 9 years old.
The property is located on Oxford Ave in Farmington Hills, with shopping, dining, schools, hospitals, and places of worship nearby. Metro Detroit access is described as convenient, and the property has a walk score of 68 and a bike score of 46. Each unit has separate gas and electric metering. Shared basement space serves the building, with mechanicals approximately 7 years old and a dimensional shingle roof around 9 years old.
Key Highlights
- Two‑unit layout with a 2‑bed/1‑bath lower unit and 1‑bed/1‑bath upper loft‑style unit
- Separate gas and electric meters for each unit
- Updated kitchens and full baths with granite and ceramic tile finishes
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
$25,043
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
9.11%
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%
$500,860
$500.9K
Cap Rate 7%
$357,757
$357.8K
Cap Rate 9%
$278,256
$278.3K
Market Conditions
NOI Build-Up for 1,892 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
$37.5K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.8K $18.91/SF
− OpEx
−$10.7K −$5.67/SF
NOI
$25.0K $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%
$500,860
Cap Rate 7%
$357,757
Cap Rate 9%
$278,256
Alternative Uses
Best Use
Multifamily LT 5
$357.8K
$313.0K – $417.4K
NOI $25,043 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,208 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$408.1K
$357.1K – $476.1K
NOI $28,566 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
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 distinct units include updated kitchens and baths, shared basement access, and separately metered utilities.
Where is this duplex located?
The property is located at 21453 Oxford Ave Farmington Hills, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit layout with a 2‑bed/1‑bath lower unit and 1‑bed/1‑bath upper loft‑style unit; Separate gas and electric meters for each unit; Updated kitchens and full baths with granite and ceramic tile finishes
