Brick Duplex With Sun
New
For Sale
$300,000
2254 Taylor St, Detroit, MI 48206
Vacant two-unit property with updated kitchens and baths, enclosed porches, and separate living areas.
Property Size2,614 SF
Days on Market2
Property Features for 2254 Taylor St
General Information
Standard status
Active
Size
2,614 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$1,870
Building Details
Building Size
2,614 SF
Year Built
1921
Units
2
Listing Agency:
REMAX LEADING EDGE
Listed By:
Lauralee Snow
(313) 398-1807
Source:
Elliman
Added: Sep 16
Last Checked: Sep 16 at 1:41PM
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 REMAX LEADING EDGE
Investment Insights
Based on property information with market context.
This brick duplex, built in 1921, contains over 2,600 square feet arranged across two residential units. Both sides feature spacious living and dining areas, large bedrooms, updated kitchens, renovated bathrooms, durable flooring, and enclosed brick sun porches. Decorative fireplaces and oversized trim retain the building’s period character, while a new roof and professionally installed security system add recent improvements.
The property is vacant and ready for immediate occupancy at 2254 Taylor St in Detroit. Its stated location places it minutes from Boston-Edison, New Center, Midtown, Henry Ford Hospital, and Downtown Detroit. BikeScore is 42, WalkScore is 49, and TransitScore is 46.
The property is vacant and ready for immediate occupancy at 2254 Taylor St in Detroit. Its stated location places it minutes from Boston-Edison, New Center, Midtown, Henry Ford Hospital, and Downtown Detroit. BikeScore is 42, WalkScore is 49, and TransitScore is 46.
Key Highlights
- Over 2,600 square feet across two residential units
- Built in 1921 with brick construction and original architectural details
- Updated kitchens, renovated baths, durable flooring, and a new roof
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
$27,423
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
9.14%
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%
$548,460
$548.5K
Cap Rate 7%
$391,757
$391.8K
Cap Rate 9%
$304,700
$304.7K
Market Conditions
NOI Build-Up for 2,614 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
$53.3K $20.40/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$49.9K $19.07/SF
− OpEx
−$22.4K −$8.58/SF
NOI
$27.4K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$548,460
Cap Rate 7%
$391,757
Cap Rate 9%
$304,700
Alternative Uses
Best Use
Multifamily LT 5
$426.8K
$373.4K – $497.9K
NOI $29,874 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$391.8K
$342.8K – $457.1K
NOI $27,423 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$576.7K
$504.6K – $672.8K
NOI $40,366 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
297
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit property with updated kitchens and baths, enclosed porches, and separate living areas.
Where is this duplex located?
The property is located at 2254 Taylor St Detroit, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Over 2,600 square feet across two residential units; Built in 1921 with brick construction and original architectural details; Updated kitchens, renovated baths, durable flooring, and a new roof
