Two-Unit Duplex with
For Sale
$309,900
401 Pingree Blvd, Royal Oak, MI 48067
Each residence includes two bedrooms, one full bath, and access to a wooded rear setting.
Property Size1,401 SF
Days on Market52
Property Features for 401 Pingree Blvd
General Information
Standard status
Active
Size
1,401 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,385
Building Details
Building Size
1,401 SF
Year Built
1917
Units
2
Listing Agency:
Max Broock, REALTORS-Royal Oak
Listed By:
Kate DeCavitte
(248) 548-9100
Source:
Elliman
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 16 at 9:32AM
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 Max Broock, REALTORS-Royal Oak
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Investment Insights
Based on property information with market context.
Built in 1917, this duplex contains two residential units, each configured with two bedrooms and one full bathroom. Both units include porches oriented toward the wooded backyard, and the property sits on a quiet street with an established residential setting.
The address provides walkable access to downtown Royal Oak, with parks, restaurants, and shopping also located nearby. Walk Score is 66, classified as Somewhat Walkable, while BikeScore is 55, classified as Bikeable. The property offers a two-unit layout in a setting suited to continued residential use.
The address provides walkable access to downtown Royal Oak, with parks, restaurants, and shopping also located nearby. Walk Score is 66, classified as Somewhat Walkable, while BikeScore is 55, classified as Bikeable. The property offers a two-unit layout in a setting suited to continued residential use.
Key Highlights
- Duplex with two separate residential units
- Each unit has 2 bedrooms and 1 full bath
- Porches overlook a wooded backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,544
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,880
$370.9K
Cap Rate 7%
$264,914
$264.9K
Cap Rate 9%
$206,044
$206.0K
Market Conditions
NOI Build-Up for 1,401 SF
Gross rent
$27.7K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$26.5K $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%
$370,880
Cap Rate 7%
$264,914
Cap Rate 9%
$206,044
Alternative Uses
Best Use
Multifamily LT 5
$264.9K
$231.8K – $309.1K
NOI $18,544 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 5.55%
Theoretical Best
Specialty Retail
$302.2K
$264.4K – $352.6K
NOI $21,153 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,317
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 - Each residence includes two bedrooms, one full bath, and access to a wooded rear setting.
Where is this duplex located?
The property is located at 401 Pingree Blvd Royal Oak, MI.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Duplex with two separate residential units; Each unit has 2 bedrooms and 1 full bath; Porches overlook a wooded backyard
