Duplex with Private
New
For Sale
$600,000
Pending
5029 Trumbull St, Detroit, MI 48208
Both residences have dedicated laundry and basement areas, with separate layouts across the upper and lower levels.
Property Size4,090 SF
Days on Market3
Property Features for 5029 Trumbull St
General Information
Standard status
Pending
Size
4,090 SF
Property subtype
Investment
Occupancy
100%
Financials
Gross Income
$55,200
Average Monthly Rent
$2,300
Units
Unit Mix
5BR/2BA, 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,272
Building Details
Building Size
4,090 SF
Year Built
1910
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
O'Connor Realty Detroit, LLC
Listed By:
Daniel Ericksen · License #6501408419
(248) 376-2231
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:00PM
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 O'Connor Realty Detroit, LLC
Investment Insights
Based on property information with market context.
Built in 1910, this Detroit duplex contains about 4,000 square feet across two residences. The upper home spans two floors and has five bedrooms, two full bathrooms, two porches, and its own laundry room. The lower residence offers three bedrooms, one full bathroom, two porches, and separate laundry. Each unit also has private basement space. Both are occupied by Wayne State students.
The property is across the street from Wayne State’s campus and field house, with Lexington Bar, Bash Original Izakaya, Pie-Sci Pizza, and Woodbridge Pub a short walk away. Improvements include new furnaces, central A/C, and hot water tanks in 2021; refreshed kitchens and bathrooms; porch and fire escape work in 2018; many replacement windows; and a PVC backyard privacy fence installed in 2022.
The property is across the street from Wayne State’s campus and field house, with Lexington Bar, Bash Original Izakaya, Pie-Sci Pizza, and Woodbridge Pub a short walk away. Improvements include new furnaces, central A/C, and hot water tanks in 2021; refreshed kitchens and bathrooms; porch and fire escape work in 2018; many replacement windows; and a PVC backyard privacy fence installed in 2022.
Key Highlights
- About 4,000 square feet in a two‑unit property
- Upper residence has 5 bedrooms and 2 full bathrooms; lower residence has 3 bedrooms and 1 full bathroom
- Two porches and a separate laundry room for each residence; private basement areas also provided
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
$45,714
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
7.62%
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%
$914,280
$914.3K
Cap Rate 7%
$653,057
$653.1K
Cap Rate 9%
$507,933
$507.9K
Market Conditions
NOI Build-Up for 4,000 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
$69.6K $17.40/SF
− Vacancy
−$4.3K −$1.07/SF
EGI
$65.3K $16.33/SF
− OpEx
−$19.6K −$4.90/SF
NOI
$45.7K $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 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%
$914,280
Cap Rate 7%
$653,057
Cap Rate 9%
$507,933
Alternative Uses
Best Use
Multifamily LT 5
$653.1K
$571.4K – $761.9K
NOI $45,714 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$599.5K
$524.5K – $699.4K
NOI $41,963 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 48208, MI
8,090
Population
5,226
Households
1.5
Avg Household Size
37
Median Age
27%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
2,528
Density / Sq Mi
$29,742
Median Household Income
$39,526
Median Earnings
$842
Median Rent
$186,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have dedicated laundry and basement areas, with separate layouts across the upper and lower levels.
Where is this duplex located?
The property is located at 5029 Trumbull St Detroit, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: About 4,000 square feet in a two‑unit property; Upper residence has 5 bedrooms and 2 full bathrooms; lower residence has 3 bedrooms and 1 full bathroom; Two porches and a separate laundry room for each residence; private basement areas also provided
