Updated Duplex with Fenced
For Sale
$299,000
2223 Junction St, Detroit, MI 48209
Two residences include in-unit laundry and air conditioning, with a raised deck and off-street parking outside.
Property Size1,961 SF
Days on Market8
Property Features for 2223 Junction St
General Information
Standard status
Active
Size
1,961 SF
Property subtype
Investment
Site & Location
Neighborhood
Central Southwest
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$33,600
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,586
Amenities
in-unit laundry
air conditioning
covered front porch
fully fenced yard
raised deck
Building Details
Building Size
1,961 SF
Year Built
1895
Year Renovated
2025
Buildings
1
Units
2
Listing Agency:
Sine & Monaghan, Realtors
Listed By:
Miles Knight · License #6501420542
(313) 207-2576
Source:
Elliman
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 28 at 8:11AM
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 Sine & Monaghan, Realtors
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Investment Insights
Based on property information with market context.
This Detroit duplex contains two units, each with two bedrooms, an updated kitchen, living space, in-unit laundry, and air conditioning. The upper unit also has a third-floor flex area that may accommodate a bedroom, office, or bonus use. Bay windows bring natural light into the interiors, while exterior features include a covered porch, fenced yard, raised deck, and off-street parking.
Work completed in 2025 included a roof and siding replacement, new flooring and paint, fixture updates, an upper-unit bathroom renovation, kitchen backsplashes in both units, gutters, window trim, soffits, fascia, and other repairs. A lower-unit water heater was added in 2026. Laundry appliances in both units are less than two years old, and the stairway has new carpeting.
The property is near Clark Park, Corktown, Mexicantown, Michigan Central Station, and restaurants along Vernor Highway, with freeway access. It was built in 1895.
Work completed in 2025 included a roof and siding replacement, new flooring and paint, fixture updates, an upper-unit bathroom renovation, kitchen backsplashes in both units, gutters, window trim, soffits, fascia, and other repairs. A lower-unit water heater was added in 2026. Laundry appliances in both units are less than two years old, and the stairway has new carpeting.
The property is near Clark Park, Corktown, Mexicantown, Michigan Central Station, and restaurants along Vernor Highway, with freeway access. It was built in 1895.
Key Highlights
- Duplex with two two‑bedroom units; upper unit includes a third‑floor flex area
- 2025 work included roof, siding, flooring, paint, fixtures, and an upper‑unit bathroom renovation
- Both units have updated kitchens, in‑unit laundry, and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,411
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,220
$448.2K
Cap Rate 7%
$320,157
$320.2K
Cap Rate 9%
$249,011
$249.0K
Market Conditions
NOI Build-Up for 1,961 SF
Gross rent
$34.1K $17.40/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$32.0K $16.33/SF
− OpEx
−$9.6K −$4.90/SF
NOI
$22.4K $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 Rate 5%
$448,220
Cap Rate 7%
$320,157
Cap Rate 9%
$249,011
Alternative Uses
Best Use
Multifamily LT 5
$320.2K
$280.1K – $373.5K
NOI $22,411 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$293.9K
$257.2K – $342.9K
NOI $20,572 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,282 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 48209, MI
27,096
Population
11,020
Households
2.5
Avg Household Size
30
Median Age
10%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
3,985
Density / Sq Mi
$42,152
Median Household Income
$30,091
Median Earnings
$843
Median Rent
$82,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences include in-unit laundry and air conditioning, with a raised deck and off-street parking outside.
Where is this duplex located?
The property is located at 2223 Junction St Detroit, 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: Duplex with two two‑bedroom units; upper unit includes a third‑floor flex area; 2025 work included roof, siding, flooring, paint, fixtures, and an upper‑unit bathroom renovation; Both units have updated kitchens, in‑unit laundry, and air conditioning
