3-Unit Triplex with Finished
New
For Sale
$469,000
Pending
2418 Calvert St, Detroit, MI 48206
Remodeled 3-unit triplex with a full finished basement and laundry facilities on every level.
Days on Market6
Property Features for 2418 Calvert St
General Information
Standard status
Pending
Property subtype
Investment
Amenities
finished basement with bath
laundry on every level
private entrances
covered front porch/terrace
upper balcony
Building Details
Building Size
3,800 SF
Year Built
1922
Year Renovated
2025
Buildings
1
Construction
all-brick
Tenancy
Multi
Listing Agency:
Empire Realty Group Inc.
(313) 846-0960
Listed By:
Wael Khalaf
(313) 846-0960
Source:
Elliman
Added: Jul 28
Changed: Jul 30
Last Checked: Aug 1 at 11:49AM
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 Empire Realty Group Inc.
Investment Insights
Based on property information with market context.
Located at 2418 Calvert St in Detroit, this 3-unit triplex features an all-brick exterior and a layout designed for tenant convenience. The main level includes two units, each with approximately 1,400 SF, and there is a private 1,000 SF top-floor loft unit. A full 1,200 SF finished basement adds flexible space, including an additional full bathroom.
The property was remodeled in 2025 and offers dedicated laundry facilities on every level. Additional exterior features include private entrances, a covered front porch/terrace, and an upper balcony. The home was built in 1922, and it is delivered 100% vacant at closing, giving an owner the ability to set rents immediately.
Access and daily convenience are supported by the surrounding area, with bikeScore 45 and walkScore 40 indicating a more car-dependent environment, while transitScore is 48.
The property was remodeled in 2025 and offers dedicated laundry facilities on every level. Additional exterior features include private entrances, a covered front porch/terrace, and an upper balcony. The home was built in 1922, and it is delivered 100% vacant at closing, giving an owner the ability to set rents immediately.
Access and daily convenience are supported by the surrounding area, with bikeScore 45 and walkScore 40 indicating a more car-dependent environment, while transitScore is 48.
Key Highlights
- 2025 remodel on an all‑brick 1922‑built 3‑unit triplex
- Two main‑level units at approx 1,400 SF each
- Private top‑floor loft unit approx 1,000 SF
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.5k | $20.40 |
| − Vacancy | −$5.0k | −$1.33 |
| EGI | $72.5k | $19.07 |
| − OpEx | −$32.6k | −$8.58 |
| NOI | $39.9k | $10.49 |
3,800 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$620.4K
$542.9K – $723.8K
NOI $43,428 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$569.5K
$498.3K – $664.4K
NOI $39,865 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,681 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
288
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?
Triplex - Remodeled 3-unit triplex with a full finished basement and laundry facilities on every level.
Where is this triplex located?
The property is located at 2418 Calvert St Detroit, MI.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2025 remodel on an all‑brick 1922‑built 3‑unit triplex; Two main‑level units at approx 1,400 SF each; Private top‑floor loft unit approx 1,000 SF
