Updated Duplex
For Sale
Contact for pricing
Pending
5572 Kensington Avenue, Detroit, MI 48224
Recently updated duplex offers income-producing residential living with a move-in-ready setup.
Property Size2,142 SF
Days on Market134
Property Features for 5572 Kensington Avenue
General Information
Standard status
Pending
Size
2,142 SF
Property subtype
Multifamily, Land
Additional Details
Multifamily Units
2
Building Details
Year Built
1929
Units
2
Listing Agency:
KW Showcase Realty
(248) 795-3952
Listed By:
Jasmine Saad
Source:
Crexi
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 11 at 10:36AM
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 KW Showcase Realty
Investment Insights
Based on property information with market context.
This duplex home is being offered for sale as a move-in opportunity with recent updates throughout. It is configured as a two-unit residential property, designed to support both occupancy and day-to-day convenience in a single purchase.
The property is located at 5572 Kensington Avenue in Detroit, MI 48224. As the listing notes, it is positioned for buyers looking to step in after updates rather than wait for immediate improvements.
For buyers interested in residential income, an updated duplex can simplify the early ownership phase by starting with a recently refreshed interior. It may also appeal to owner-occupants who want to live in one unit while having the option to rent the other. With the information provided, prospective buyers should confirm the specific update scope, unit configuration details, and any remaining considerations directly with the seller or listing broker.
The property is located at 5572 Kensington Avenue in Detroit, MI 48224. As the listing notes, it is positioned for buyers looking to step in after updates rather than wait for immediate improvements.
For buyers interested in residential income, an updated duplex can simplify the early ownership phase by starting with a recently refreshed interior. It may also appeal to owner-occupants who want to live in one unit while having the option to rent the other. With the information provided, prospective buyers should confirm the specific update scope, unit configuration details, and any remaining considerations directly with the seller or listing broker.
Key Highlights
- Duplex home built in 1929
- Recently updated duplex setup designed for move‑in‑ready living
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
$21,103
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
7.67%
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%
$422,060
$422.1K
Cap Rate 7%
$301,471
$301.5K
Cap Rate 9%
$234,478
$234.5K
Market Conditions
NOI Build-Up for 2,142 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
$32.1K $15.00/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$30.1K $14.07/SF
− OpEx
−$9.0K −$4.22/SF
NOI
$21.1K $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%
$422,060
Cap Rate 7%
$301,471
Cap Rate 9%
$234,478
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.7K
NOI $21,103 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$277.6K
$242.9K – $323.9K
NOI $19,431 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$540.3K
$472.8K – $630.3K
NOI $37,820 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
455
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 - Recently updated duplex offers income-producing residential living with a move-in-ready setup.
Where is this duplex located?
The property is located at 5572 Kensington Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Duplex home built in 1929; Recently updated duplex setup designed for move‑in‑ready living
