Two-Unit Duplex with Private
For Sale
$249,999
4826 Yorkshire Rd, Detroit, MI 48224
Occupied duplex with separately metered utility responsibilities, individual HVAC systems, water heaters, and outdoor amenities.
Property Size2,309 SF
Days on Market127
Property Features for 4826 Yorkshire Rd
General Information
Standard status
Active
Size
2,309 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,524
Building Details
Building Size
2,309 SF
Year Built
1929
Units
3
Listing Agency:
eXp Realty LLC
(248) 937-1337
Listed By:
Revanda Benno
(248) 937-1337
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 31 at 2:02PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1929, this two-unit duplex includes separate HVAC systems and water heaters for each residence. Both units are occupied by long-term tenants. Utility responsibilities are divided with tenants paying gas and electricity while the owner covers water.
Exterior features include a private garage, off-street parking, and a spacious backyard with a designated recreation area. New gutters were installed in Summer 2025, adding a recent exterior improvement. The property has a Walk Score of 66, a Bike Score of 54, and a Transit Score of 41, reflecting somewhat walkable conditions, bikeable access, and some transit service.
Exterior features include a private garage, off-street parking, and a spacious backyard with a designated recreation area. New gutters were installed in Summer 2025, adding a recent exterior improvement. The property has a Walk Score of 66, a Bike Score of 54, and a Transit Score of 41, reflecting somewhat walkable conditions, bikeable access, and some transit service.
Key Highlights
- Two‑unit duplex built in 1929
- Long‑term tenants occupy both units
- Separate HVAC systems and water heaters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,749
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,980
$455.0K
Cap Rate 7%
$324,986
$325.0K
Cap Rate 9%
$252,767
$252.8K
Market Conditions
NOI Build-Up for 2,309 SF
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.
Gross rent
$34.6K $15.00/SF
− Vacancy
−$2.1K −$0.93/SF
EGI
$32.5K $14.07/SF
− OpEx
−$9.7K −$4.22/SF
NOI
$22.7K $9.85/SF
Area
ZIP 48224
Vacancy
6.17%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,980
Cap Rate 7%
$324,986
Cap Rate 9%
$252,767
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$299.2K
$261.8K – $349.1K
NOI $20,946 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$582.4K
$509.6K – $679.5K
NOI $40,768 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with separately metered utility responsibilities, individual HVAC systems, water heaters, and outdoor amenities.
Where is this duplex located?
The property is located at 4826 Yorkshire Rd Detroit, MI.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Two‑unit duplex built in 1929; Long‑term tenants occupy both units; Separate HVAC systems and water heaters for each unit
