Renovated Three-Unit
For Sale
$199,000
3810 Tyler St, Detroit, MI 48238
Turnkey renovated three-unit property with fireplaces and multiple one-bedroom layouts in Detroit’s Buena Vista neighborhood.
Property Size1,200 SF
Price / SF$165.83
Days on Market60
Property Features for 3810 Tyler St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1927
Tenancy
Multi
Listing Agency:
Keller Williams Royal Oak
(248) 266-4808
Listed By:
Zaquay M Edwards · License #6501400700
(248) 266-4808
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Aug 1 at 4:34AM
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 Keller Williams Royal Oak
Investment Insights
Based on property information with market context.
This beautifully renovated three-unit multifamily property blends early 20th-century character with modern updates. The spacious lower unit offers 3 bedrooms and 1 bathroom, along with a fireplace and nearly 1,200 square feet of living space. The two upper units each provide 1 bedroom and 1 bathroom, creating separate, self-contained living options. One upper unit includes a dining room, a private balcony, and a fireplace, while the other features a convenient Murphy bed.
Located in Detroit’s historic Buena Vista neighborhood, the property benefits from everyday walkability and bikeability, with BikeScore 54 and WalkScore 55, plus a TransitScore of 48. It is offered for sale as a turnkey opportunity for an investor or an owner-occupant seeking rental income.
For tenants, the unit mix supports flexible living arrangements, from a larger three-bedroom lower unit to two distinct one-bedroom layouts upstairs. For buyers, the configuration provides multiple rental options within one building and includes the standout amenities already present across units, including fireplaces in the lower unit and in one of the upper units, plus a private balcony on one upper layout. The seller’s remarks indicate the property has potential to generate up to $3,500 per month in rental income, subject to tenant occupancy and lease terms.
Located in Detroit’s historic Buena Vista neighborhood, the property benefits from everyday walkability and bikeability, with BikeScore 54 and WalkScore 55, plus a TransitScore of 48. It is offered for sale as a turnkey opportunity for an investor or an owner-occupant seeking rental income.
For tenants, the unit mix supports flexible living arrangements, from a larger three-bedroom lower unit to two distinct one-bedroom layouts upstairs. For buyers, the configuration provides multiple rental options within one building and includes the standout amenities already present across units, including fireplaces in the lower unit and in one of the upper units, plus a private balcony on one upper layout. The seller’s remarks indicate the property has potential to generate up to $3,500 per month in rental income, subject to tenant occupancy and lease terms.
Key Highlights
- Three‑unit multifamily in Detroit’s Buena Vista neighborhood, built in 1927
- Lower unit features 3 bedrooms, 1 bathroom, a fireplace, and nearly 1,200 sq ft of living space
- Two upper 1‑bedroom/1‑bath units, including one with a private balcony and fireplace
Financial Insights For Multifamily LT 5
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 | $20.9k | $17.40 |
| − Vacancy | −$1.3k | −$1.07 |
| EGI | $19.6k | $16.33 |
| − OpEx | −$5.9k | −$4.90 |
| NOI | $13.7k | $11.43 |
1,200 SF · lease $17.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$195.9K
$171.4K – $228.6K
NOI $13,714 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$179.8K
$157.4K – $209.8K
NOI $12,589 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
Demographics for 48238, MI
25,747
Population
16,341
Households
1.6
Avg Household Size
37
Median Age
13%
College-Educated
84%
High-School Grad
5.4 sq mi
ZIP Area
4,768
Density / Sq Mi
$30,286
Median Household Income
$25,948
Median Earnings
$950
Median Rent
$58,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Turnkey renovated three-unit property with fireplaces and multiple one-bedroom layouts in Detroit’s Buena Vista neighborhood.
Where is this triplex located?
The property is located at 3810 Tyler St Detroit, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Three‑unit multifamily in Detroit’s Buena Vista neighborhood, built in 1927; Lower unit features 3 bedrooms, 1 bathroom, a fireplace, and nearly 1,200 sq ft of living space; Two upper 1‑bedroom/1‑bath units, including one with a private balcony and fireplace
