Duplex with Street-Facing
For Sale
$289,900
534 Holbrook St, Detroit, MI 48202
Duplex in Detroit with two 2-bedroom, 1-bath units and an upper unit street-facing balcony.
Property Size1,966 SF
Price / SF$147.46
Days on Market60
Property Features for 534 Holbrook St
General Information
Standard status
Active
Size
1,966 SF
Property subtype
Multi-Unit (2-4)
Amenities
Asphalt Roof
Sewer Type: Municipal
Total Taxes: $5,547, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Hardwood Floor
Forced Air Heating, Natural Gas Heat Fuel, Gas Heat Fuel
Kitchen
Sale, Sale Type: Foreclosure, Availability Date: 2026-07-17
Basement Type: Full, Unfinished, Area Square Footage: 968
4 Bedrooms
Residential Style: 2600, Building Style: Duplex, 2 Stories, Built in 1912, Renovation Year: 2022
Neighborhood Name: North End
Property Zone Type: 100, Above Area Square Feet: 1966
2 Full Baths
Water Source: Municipal, Natural Gas Available
Dining Room
Living Room
Master Bedroom
Construction Type: Masonry - Brick, Deck, Patio, Covered Porch
Brick Siding
Oven, Refrigerator, Garbage Disposal, Washer, Dryer, Hot Water Heater
Building Details
Year Built
1912
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Connection - Detroit
(248) 505-2509
Listed By:
Dennis Jakub · License #6501449193
(313) 800-8465
Source:
Doyle-realty
Added: Jul 16
Changed: Sep 13
Last Checked: Sep 13 at 10:18AM
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 RE/MAX Connection - Detroit
Investment Insights
Based on property information with market context.
Duplex located at 534 Holbrook St, built in 1912, featuring two residential units. Each unit offers 2 bedrooms and 1 full bathroom. The interiors include hardwood floors and oversized windows that bring in abundant natural light.
The kitchens are updated with original built-in cabinetry retained, supporting a blend of historic character and modern finishes. The upper unit includes access to a private street-facing balcony. The bathrooms feature updated vanities, tub/shower combinations, and natural light.
Outside, the property provides outdoor space for gardening or entertaining. The lower unit is currently tenant-occupied, providing steady occupancy. With a total property size of 1,966 square feet, the layout is designed for flexible living and straightforward furnishing in each apartment.
The kitchens are updated with original built-in cabinetry retained, supporting a blend of historic character and modern finishes. The upper unit includes access to a private street-facing balcony. The bathrooms feature updated vanities, tub/shower combinations, and natural light.
Outside, the property provides outdoor space for gardening or entertaining. The lower unit is currently tenant-occupied, providing steady occupancy. With a total property size of 1,966 square feet, the layout is designed for flexible living and straightforward furnishing in each apartment.
Key Highlights
- Duplex built in 1912
- Upper unit includes private street‑facing balcony
- Two 2‑bedroom, 1 full‑bath units
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
$22,468
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
7.75%
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%
$449,360
$449.4K
Cap Rate 7%
$320,971
$321.0K
Cap Rate 9%
$249,644
$249.6K
Market Conditions
NOI Build-Up for 1,966 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
$34.2K $17.40/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$32.1K $16.33/SF
− OpEx
−$9.6K −$4.90/SF
NOI
$22.5K $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%
$449,360
Cap Rate 7%
$320,971
Cap Rate 9%
$249,644
Alternative Uses
Best Use
Multifamily LT 5
$321.0K
$280.9K – $374.5K
NOI $22,468 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$294.6K
$257.8K – $343.8K
NOI $20,625 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in Detroit with two 2-bedroom, 1-bath units and an upper unit street-facing balcony.
Where is this duplex located?
The property is located at 534 Holbrook St Detroit, MI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Duplex built in 1912; Upper unit includes private street‑facing balcony; Two 2‑bedroom, 1 full‑bath units
