Renovated Duplex Income
For Sale
$355,000
2571 Townsend St, Detroit, MI 48214
Recently renovated two-unit property with updated systems, new windows, and in-unit furnished appliances.
Property Size2,800 SF
Price / SF$126.79
Days on Market149
Property Features for 2571 Townsend St
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Islandview
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
bikeScore: 68, Bikeable
walkScore: 50, Somewhat Walkable
transitScore: 54, Good Transit
Building Details
Year Built
1918
Listing Agency:
Signature Sotheby's International Realty Bham
Listed By:
Brandon Curry · License #6501388008
(313) 303-7263
Source:
Premiermichiganhomesearch
Added: Jun 3
Changed: Oct 25
Last Checked: Oct 7 at 12:59PM
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 Signature Sotheby's International Realty Bham
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Investment Insights
Based on property information with market context.
This updated duplex is a two-unit residential income property that was completely renovated within the last three years. Improvements listed include a new roof, electrical, heating, plumbing, insulation, flooring, kitchens, bathrooms, and replaced windows. Both units come furnished with a refrigerator, dishwasher, washer-dryer, and microwave, supporting straightforward move-in and rental readiness.
The property is located on Townsend St in Detroit’s Islandview area. Public remarks also highlight resident access to Belle Isle, the River Walk, and West Village. With bikeScore 68 (Bikeable), walkScore 50 (Somewhat Walkable), and transitScore 54 (Good Transit), the surrounding area offers multiple modes of commuting and local convenience.
For buyers and investors, the emphasis of the renovation is broad-based, covering core building systems and interior finishes, while the furnished appliance package is already in place for both units.
The property is located on Townsend St in Detroit’s Islandview area. Public remarks also highlight resident access to Belle Isle, the River Walk, and West Village. With bikeScore 68 (Bikeable), walkScore 50 (Somewhat Walkable), and transitScore 54 (Good Transit), the surrounding area offers multiple modes of commuting and local convenience.
For buyers and investors, the emphasis of the renovation is broad-based, covering core building systems and interior finishes, while the furnished appliance package is already in place for both units.
Key Highlights
- Two‑unit multi‑family property built in 1918 in the Islandview area of Detroit
- Completely renovated in the last 3 years with new roof, electrical, heating, plumbing, insulation, floors, kitchens, bathrooms, and windows
- Updated in‑unit appliances include furnished refrigerator, dishwasher, washer‑dryer, and microwave in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,000
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,000
$640.0K
Cap Rate 7%
$457,143
$457.1K
Cap Rate 9%
$355,556
$355.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$48.7K $17.40/SF
− Vacancy
−$3.0K −$1.07/SF
EGI
$45.7K $16.33/SF
− OpEx
−$13.7K −$4.90/SF
NOI
$32.0K $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%
$640,000
Cap Rate 7%
$457,143
Cap Rate 9%
$355,556
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$419.6K
$367.2K – $489.6K
NOI $29,374 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$617.7K
$540.5K – $720.6K
NOI $43,238 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
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Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
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 - Recently renovated two-unit property with updated systems, new windows, and in-unit furnished appliances.
Where is this duplex located?
The property is located at 2571 Townsend St Detroit, MI.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two‑unit multi‑family property built in 1918 in the Islandview area of Detroit; Completely renovated in the last 3 years with new roof, electrical, heating, plumbing, insulation, floors, kitchens, bathrooms, and windows; Updated in‑unit appliances include furnished refrigerator, dishwasher, washer‑dryer, and microwave in both units
