Updated 2-Unit
New
For Sale
$299,000
2223 Junction Street, Detroit, MI 48209
MULTIFAMILY, Detroit, MI
Property Size1,961 SF
Lot Size0.08 Acres
Price / SF$152.47
Days on Market3
Property Features for 2223 Junction Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Laundry Room, Bedroom 3, Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 4
Appliances
Disposal, Dryer, Range/Oven, Refrigerator, Washer
Subdivision
Duffield Henry M Resub
Elementary school district
Detroit City School District
Middle school district
Detroit City School District
High school district
Detroit City School District
Standard status
Active
APN
16013278.
Size
1,961 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4586
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
in-unit laundry
air conditioning
covered front porch
fully fenced yard
raised deck
off-street parking
Building Details
Year built
1895
Floors in Building
2
Number of units
2
Architectural style
Colonial
Listing Agency:
Sine & Monaghan LLC
(313) 884-7000
Listed By:
Miles Knight
(313) 207-2576
Added: Oct 21
Last Checked: Oct 23 at 1:06PM
MLS# 50225520
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.
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Investment Insights
Based on property information with market context.
This 1,961-square-foot duplex contains two residences, each with two bedrooms. The upper unit also includes a third-floor bonus area. Both units have updated kitchens, living areas, laundry, and air conditioning. Improvements completed in 2025 include a new roof, siding, flooring, fresh paint, fixtures, and an upper-unit bathroom renovation. A water heater was added to the lower unit in 2026, and the laundry appliances are less than two years old.
The 0.08-acre property has a covered front porch, fenced yard, raised deck, and off-street parking. Clark Park, Corktown, Mexicantown, Michigan Central Station, and restaurants on Vernor Highway are among the nearby destinations; freeway access is also noted.
The 0.08-acre property has a covered front porch, fenced yard, raised deck, and off-street parking. Clark Park, Corktown, Mexicantown, Michigan Central Station, and restaurants on Vernor Highway are among the nearby destinations; freeway access is also noted.
Key Highlights
- Two residences, each with two bedrooms, in 1,961 square feet
- 0.08‑acre lot with fenced yard, raised deck, and covered front porch
- 2025 improvements include new roof, siding, flooring, and upper‑unit bathroom renovation
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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Property Analytics
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Open Analytics
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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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 - Each residence includes in-unit laundry and air conditioning.
Where is this duplex located?
The property is located at 2223 Junction Street 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: Two residences, each with two bedrooms, in 1,961 square feet; 0.08‑acre lot with fenced yard, raised deck, and covered front porch; 2025 improvements include new roof, siding, flooring, and upper‑unit bathroom renovation
