Three-Unit Residential Income
4552 Commonwealth Street Detroit, MI 48208
For Sale
$490,000
Pending
Three distinct units offer 3 bedrooms on the main level plus two upstairs units, with central air and updated exterior elements.
Property Size2,680 SF
Days on Market513
Property Features for 4552 Commonwealth Street
General Information
Standard status
Pending
Size
2,680 SF
Property subtype
Multi Family
Building Details
Year Built
1920
Listing Agency:
Real Estate One Clinton
(810) 434-3280
Listed By:
Monta Catterall · License #6501439173
(810) 434-3280
Source:
Exitrealty
Added: Mar 1, 2025
Changed: Jul 20
Last Checked: Jul 26 at 7:20AM
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 Real Estate One Clinton
Investment Insights
Based on property information with market context.
This three-unit multifamily property features a first-floor main unit with 3 bedrooms and 2 bathrooms, along with two upstairs units: one with 2 bedrooms and 1 bathroom, and another with 1 bedroom and 1 bathroom. Updates include a newer roof, newer windows, and central air. Copper plumbing is noted throughout, and there is a partially finished basement that includes a kitchen and a bathroom.
Outside, the home offers a large front porch, a back deck, and a fenced-in yard. A 2-car garage is also included.
Located in Detroit’s Woodbridge District, the property is described as minutes from Wayne State University, major hospitals, and Midtown, with walkable access to local dining and cultural options and easy access to downtown.
Outside, the home offers a large front porch, a back deck, and a fenced-in yard. A 2-car garage is also included.
Located in Detroit’s Woodbridge District, the property is described as minutes from Wayne State University, major hospitals, and Midtown, with walkable access to local dining and cultural options and easy access to downtown.
Key Highlights
- 1920‑built multifamily home in Detroit’s Woodbridge District with 3 distinct units
- Main floor unit features 3 bedrooms and 2 baths
- Two upstairs units include one 2‑bedroom/1‑bath unit and one 1‑bedroom/1‑bath unit
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 | $46.6k | $17.40 |
| − Vacancy | −$2.9k | −$1.07 |
| EGI | $43.8k | $16.33 |
| − OpEx | −$13.1k | −$4.90 |
| NOI | $30.6k | $11.43 |
2,680 SF · lease $17.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$437.5K
$382.9K – $510.5K
NOI $30,628 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$401.6K
$351.4K – $468.6K
NOI $28,115 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$591.2K
$517.3K – $689.8K
NOI $41,385 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct units offer 3 bedrooms on the main level plus two upstairs units, with central air and updated exterior elements.
Where is this triplex located?
The property is located at 4552 Commonwealth Street Detroit, MI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1920‑built multifamily home in Detroit’s Woodbridge District with 3 distinct units; Main floor unit features 3 bedrooms and 2 baths; Two upstairs units include one 2‑bedroom/1‑bath unit and one 1‑bedroom/1‑bath unit
