Renovated Duplex with Fenced Double
For Sale
$350,000
Pending
403 Mt Vernon Street, Detroit, MI 48202
Multifamily, 2 Story, Detroit, MI
Property Size1,853 SF
Lot Size0.24 Acres
Days on Market482
Property Features for 403 Mt Vernon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Pets allowed
Yes
Exterior features
Fenced
Fencing
Fenced
Subdivision
Kochs Sub
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Corner of Mt. Vernon and Brush
Standard status
Pending
APN
01002413
Size
1,853 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2021. N MT VERNON 112KOCHS SUB L8 P14 PLATS, WCR 1/108 33.3 X 110
Tax Annual Amount
34
Legal Description
PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2021. N MT VERNON 112KOCHS SUB L8 P14 PLATS, WCR 1/108 33.3 X 110
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
back porch
gated off-street parking
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Building materials
Wood
Architectural style
Colonial
Listing Agency:
KW Domain · Keller Williams Realty
(248) 590-0800
Listed By:
Alan Davidov · License #6505433487
(313) 306-7653
Added: Jun 17, 2025
Changed: Sep 14
Last Checked: Oct 11 at 4:06PM
MLS# 20251009087
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex contains 1,853 square feet and was built in 1915 in a Colonial style. Each unit offers two bedrooms and one full bathroom, with updated roofing, windows, electrical, plumbing, furnaces, water heaters, and exterior paint. A new back porch, central air, forced-air heating, and public water service add to the property’s existing improvements.
The property occupies a 0.24-acre double lot with fencing and gated off-street parking. Additional included parcels provide outdoor space and may support parking or future development, subject to applicable requirements. Long-term tenants are in place, and the property is zoned Residential. Nearby points of interest identified for the property include the Q-Line, Fisher Building, New Center, Midtown, and Downtown Detroit.
The property occupies a 0.24-acre double lot with fencing and gated off-street parking. Additional included parcels provide outdoor space and may support parking or future development, subject to applicable requirements. Long-term tenants are in place, and the property is zoned Residential. Nearby points of interest identified for the property include the Q-Line, Fisher Building, New Center, Midtown, and Downtown Detroit.
Key Highlights
- Two‑unit duplex with 1,853 square feet
- Each unit includes 2 bedrooms and 1 full bathroom
- Renovated systems include roof, windows, electrical, plumbing, furnaces, and water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,177
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,540
$423.5K
Cap Rate 7%
$302,529
$302.5K
Cap Rate 9%
$235,300
$235.3K
Market Conditions
NOI Build-Up for 1,853 SF
Gross rent
$32.2K $17.40/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$30.3K $16.33/SF
− OpEx
−$9.1K −$4.90/SF
NOI
$21.2K $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%
$423,540
Cap Rate 7%
$302,529
Cap Rate 9%
$235,300
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $353.0K
NOI $21,177 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$277.7K
$243.0K – $324.0K
NOI $19,439 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$408.8K
$357.7K – $476.9K
NOI $28,615 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit residential property with gated parking, separate living spaces, and long-term tenants in place.
Where is this duplex located?
The property is located at 403 Mt Vernon Street Detroit, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,853 square feet; Each unit includes 2 bedrooms and 1 full bathroom; Renovated systems include roof, windows, electrical, plumbing, furnaces, and water heaters
