Owner-Occupied
493-495 Saint Clair Avenue, Grosse Pointe, MI 48230
For Sale
$485,000
Pending
MULTIFAMILY, Grosse Pointe, MI
Property Size2,040 SF
Lot Size0.18 Acres
Days on Market96
Property Features for 493-495 Saint Clair Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Security features
Patio and Porch features
Interior features
Exterior features
Fencing
Fireplace
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Amenities
fireplaces
basement common area
fenced yard
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Sine & Monaghan LLC
(313) 884-7000
Listed By:
Charles Gates
(313) 400-0751
Added: Aug 7
Changed: Nov 3
Last Checked: Nov 10 at 1:06PM
MLS# 50217739
Copyright © 2026 Multiple Listing Service MiRealSource. 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 owner-occupied duplex contains 2,040 square feet on a 0.18-acre lot. Each unit includes 2 bedrooms, 1 full bathroom, a dining room, hardwood flooring, an updated kitchen, and a natural-burning fireplace in the living room. The property was built in 1946 and includes a separate basement with shared space.
Exterior features include a fenced yard, patio, lawn sprinkler, and a 2-car garage. Heating is provided by forced air, with central air, ceiling fans, and an attic fan for cooling. Appliances include a range/oven, refrigerator, dishwasher, microwave, washer, dryer, and freezer. The property has public water service, cable and internet availability, and a security system. Schools, shops, and restaurants are within walking distance.
Exterior features include a fenced yard, patio, lawn sprinkler, and a 2-car garage. Heating is provided by forced air, with central air, ceiling fans, and an attic fan for cooling. Appliances include a range/oven, refrigerator, dishwasher, microwave, washer, dryer, and freezer. The property has public water service, cable and internet availability, and a security system. Schools, shops, and restaurants are within walking distance.
Key Highlights
- 2,040‑square‑foot duplex on a 0.18‑acre lot
- Both units include 2 bedrooms and 1 full bathroom
- Two natural‑burning fireplaces, one in each living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,028
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,560
$400.6K
Cap Rate 7%
$286,114
$286.1K
Cap Rate 9%
$222,533
$222.5K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$30.6K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.6K $14.03/SF
− OpEx
−$8.6K −$4.21/SF
NOI
$20.0K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,560
Cap Rate 7%
$286,114
Cap Rate 9%
$222,533
Alternative Uses
Best Use
Multifamily LT 5
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$262.7K
$229.9K – $306.5K
NOI $18,390 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$377.7K
$330.5K – $440.6K
NOI $26,438 @ 7.0% cap · market cap 5.45%
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
1,055
Businesses Nearby
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Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Wayne County, MI
Properties on Market for Duplexes in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated kitchens, hardwood floors, dining rooms, and natural-burning fireplaces.
Where is this duplex located?
The property is located at 493-495 Saint Clair Avenue Grosse Pointe, MI.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,040‑square‑foot duplex on a 0.18‑acre lot; Both units include 2 bedrooms and 1 full bathroom; Two natural‑burning fireplaces, one in each living room
