Renovated Duplex with Detached
For Sale
$290,000
306 N Kenwood Ave, Royal Oak, MI 48067
Two residential units support owner occupancy, rental income, or multigenerational living with shared basement storage.
Property Size1,396 SF
Price / SF$207.74
Days on Market86
Property Features for 306 N Kenwood Ave
General Information
Standard status
Active
Size
1,396 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
enclosed front porch
shared basement with dedicated storage
Building Details
Year Built
1917
Abandoned
No
Listing Agency:
DOBI Real Estate
Listed By:
Sara Trombly
(586) 524-6902
Source:
Vmrealestatemichigan
Added: Aug 13
Changed: Nov 1
Last Checked: Nov 4 at 2:04PM
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 DOBI Real Estate
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Investment Insights
Based on property information with market context.
Located at 306 N. Kenwood Avenue in Royal Oak, this 1,396-square-foot duplex was built in 1917 and contains two residential units. The lower apartment has 2 bedrooms and 1 full bathroom, including a bathroom update completed in 2021. The upper unit received substantial renovations in 2024, including new flooring, neutral paint, a remodeled bathroom, and an updated kitchen. An enclosed front porch adds usable common-area space, while the shared basement provides dedicated storage for each unit.
The property also includes a detached 2-car garage. Mechanical improvements include a furnace installed in 2019 and a hot water tank replaced in 2023. Its setting provides walkable access to downtown Royal Oak restaurants, boutiques, nightlife, and year-round events, with I-75 and I-696 only minutes away. The configuration supports owner occupancy with rental income or multigenerational living.
The property also includes a detached 2-car garage. Mechanical improvements include a furnace installed in 2019 and a hot water tank replaced in 2023. Its setting provides walkable access to downtown Royal Oak restaurants, boutiques, nightlife, and year-round events, with I-75 and I-696 only minutes away. The configuration supports owner occupancy with rental income or multigenerational living.
Key Highlights
- Two‑unit duplex measuring 1,396 square feet
- Upper unit renovated in 2024 with updated kitchen, remodeled bathroom, new flooring, and fresh paint
- Lower unit includes 2 bedrooms and 1 full bathroom updated in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,478
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,560
$369.6K
Cap Rate 7%
$263,971
$264.0K
Cap Rate 9%
$205,311
$205.3K
Market Conditions
NOI Build-Up for 1,396 SF
Gross rent
$27.6K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$26.4K $18.91/SF
− OpEx
−$7.9K −$5.67/SF
NOI
$18.5K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,560
Cap Rate 7%
$263,971
Cap Rate 9%
$205,311
Alternative Uses
Best Use
Multifamily LT 5
$264.0K
$231.0K – $308.0K
NOI $18,478 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$244.6K
$214.1K – $285.4K
NOI $17,124 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$301.1K
$263.5K – $351.3K
NOI $21,077 @ 7.0% cap · market cap 7.27%
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
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
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 residential units support owner occupancy, rental income, or multigenerational living with shared basement storage.
Where is this duplex located?
The property is located at 306 N Kenwood Ave Royal Oak, MI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex measuring 1,396 square feet; Upper unit renovated in 2024 with updated kitchen, remodeled bathroom, new flooring, and fresh paint; Lower unit includes 2 bedrooms and 1 full bathroom updated in 2021
