Renovated Brick
4073 W Philadelphia Street, Detroit, MI 48204
For Sale
$299,000
Multifamily, 2 Story, Detroit, MI
Property Size2,340 SF
Lot Size0.08 Acres
Price / SF$127.78
Days on Market49
Property Features for 4073 W Philadelphia Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Interior features
Exterior features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
KW Domain · Keller Williams Realty
(248) 590-0800
Listed By:
Bethany Reyes · License MI #6501396840
(248) 259-6583
Added: Sep 23
Changed: Oct 26
Last Checked: Nov 10 at 9:06PM
MLS# 20261076629
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.
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Investment Insights
Based on property information with market context.
This 2,340-square-foot duplex is a brick two-family property built in 1917, with a two-story configuration and a 0.08-acre lot. The first unit includes 3 bedrooms, 1 full bath, and a front porch. The second unit provides 4 bedrooms, 2 full baths, and a private balcony. Both units have been fully renovated, while the property retains its classic brick construction and includes a basement.
The property is located in Detroit, Michigan, within a Multi-Family, Residential zoning designation. A shared driveway and street parking serve the two-unit layout. Additional features include forced-air heating, ceiling fans, public water, exterior lighting, and exterior video surveillance.
The property is located in Detroit, Michigan, within a Multi-Family, Residential zoning designation. A shared driveway and street parking serve the two-unit layout. Additional features include forced-air heating, ceiling fans, public water, exterior lighting, and exterior video surveillance.
Key Highlights
- 2,340‑square‑foot duplex on a 0.08‑acre lot
- Two units: 3 bedrooms and 1 full bath downstairs; 4 bedrooms and 2 full baths upstairs
- Both units fully renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,743
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,860
$534.9K
Cap Rate 7%
$382,043
$382.0K
Cap Rate 9%
$297,144
$297.1K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$40.7K $17.40/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$38.2K $16.33/SF
− OpEx
−$11.5K −$4.90/SF
NOI
$26.7K $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%
$534,860
Cap Rate 7%
$382,043
Cap Rate 9%
$297,144
Alternative Uses
Best Use
Multifamily LT 5
$382.0K
$334.3K – $445.7K
NOI $26,743 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$350.7K
$306.9K – $409.1K
NOI $24,548 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$516.2K
$451.7K – $602.3K
NOI $36,135 @ 7.0% cap · market cap 12.09%
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
334
Businesses Nearby
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Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Detroit, MI
Properties on Market for Duplexes in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct layouts, outdoor spaces, and shared parking access.
Where is this duplex located?
The property is located at 4073 W Philadelphia Street Detroit, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,340‑square‑foot duplex on a 0.08‑acre lot; Two units: 3 bedrooms and 1 full bath downstairs; 4 bedrooms and 2 full baths upstairs; Both units fully renovated
