Renovated Duplex with Updated
For Sale
$200,000
5500 Devonshire Rd, Detroit, MI 48224
Two residential units feature refreshed interiors and renovated bathrooms.
Property Size1,676 SF
Price / SF$119.33
Days on Market54
Property Features for 5500 Devonshire Rd
General Information
Standard status
Active
Size
1,676 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1941
Buildings
1
Listing Agency:
Metropolitan Gems
Listed By:
Marvis Burns · License #6502432407
(313) 333-9465
Source:
Premiermichiganhomesearch
Added: Aug 14
Changed: Sep 24
Last Checked: Oct 5 at 8:36PM
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 Metropolitan Gems
Investment Insights
Based on property information with market context.
Located at 5500 Devonshire Rd in Detroit, this renovated duplex contains two residential units totaling 1,676 square feet. Each unit offers two bedrooms, one full bathroom, and approximately 838 square feet of living area. Interior improvements include refinished hardwood flooring, updated kitchens, and fully renovated bathrooms.
The property is situated near shopping, dining, schools, and major transportation routes. Its two-unit configuration and updated interior features support both rental occupancy and owner-occupant use.
The property is situated near shopping, dining, schools, and major transportation routes. Its two-unit configuration and updated interior features support both rental occupancy and owner-occupant use.
Key Highlights
- Two‑unit duplex with 1,676 square feet of total property size
- Each unit includes 2 bedrooms and 1 full bath
- Each unit measures approximately 838 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,512
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,240
$330.2K
Cap Rate 7%
$235,886
$235.9K
Cap Rate 9%
$183,467
$183.5K
Market Conditions
NOI Build-Up for 1,676 SF
Gross rent
$25.1K $15.00/SF
− Vacancy
−$1.6K −$0.93/SF
EGI
$23.6K $14.07/SF
− OpEx
−$7.1K −$4.22/SF
NOI
$16.5K $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 Rate 5%
$330,240
Cap Rate 7%
$235,886
Cap Rate 9%
$183,467
Alternative Uses
Best Use
Multifamily LT 5
$235.9K
$206.4K – $275.2K
NOI $16,512 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$217.2K
$190.1K – $253.4K
NOI $15,204 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$422.7K
$369.9K – $493.2K
NOI $29,592 @ 7.0% cap · market cap 14.80%
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
Location Intelligence
Trade Area within ½ mile
370
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
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 - Two residential units feature refreshed interiors and renovated bathrooms.
Where is this duplex located?
The property is located at 5500 Devonshire Rd Detroit, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,676 square feet of total property size; Each unit includes 2 bedrooms and 1 full bath; Each unit measures approximately 838 square feet
