Remodeled Duplex with Separate
576 Manistique St Detroit, MI 48215
New
For Sale
$300,000
Remodeled duplex with a vacant upper unit and separate metered utilities for flexible owner-occupy or rental use.
Lot Size0.25 Acres
Days on Market2
Property Features for 576 Manistique St
General Information
Standard status
Active
Lot size
0.25 Acres
Property subtype
Investment
Building Details
Year Built
1923
Listing Agency:
Clyde Realty LLC
(313) 949-7191
Listed By:
Ian Breck · License #6501453223
(313) 949-7191
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 6:21AM
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 Clyde Realty LLC
Investment Insights
Based on property information with market context.
This handsomely remodeled duplex includes a vacant upper unit and a downstairs unit that is currently rented. Built in 1923, the property’s layout supports house hacking or straightforward rental operation, with each unit offering three bedrooms plus a spacious living room and dining room. Interior finishes include hardwood floors and new windows.
The duplex is located in Jefferson Chalmers on a quiet block. The offering includes both 570 and 580 Manistique, providing nearly a quarter acre, with potential to expand by acquiring neighboring Land Bank lots. Separate metered utilities help streamline billing and day-to-day management for an owner-occupant or investor.
For mobility, the area scores in the 50s on Bike and around 60 on Walk, with a Transit score noted as 36.
The duplex is located in Jefferson Chalmers on a quiet block. The offering includes both 570 and 580 Manistique, providing nearly a quarter acre, with potential to expand by acquiring neighboring Land Bank lots. Separate metered utilities help streamline billing and day-to-day management for an owner-occupant or investor.
For mobility, the area scores in the 50s on Bike and around 60 on Walk, with a Transit score noted as 36.
Key Highlights
- Remodeled duplex with vacant upper unit and downstairs unit currently rented
- Each unit offers three bedrooms plus a living room and dining room
- Hardwood floors and new windows in both units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.1k | $17.40 |
| − Vacancy | −$2.5k | −$1.07 |
| EGI | $37.6k | $16.33 |
| − OpEx | −$11.3k | −$4.90 |
| NOI | $26.3k | $11.43 |
2,304 SF · lease $17.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$376.2K
$329.1K – $438.9K
NOI $26,331 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$345.3K
$302.1K – $402.9K
NOI $24,171 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$508.3K
$444.7K – $593.0K
NOI $35,579 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex with a vacant upper unit and separate metered utilities for flexible owner-occupy or rental use.
Where is this duplex located?
The property is located at 576 Manistique St Detroit, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Remodeled duplex with vacant upper unit and downstairs unit currently rented; Each unit offers three bedrooms plus a living room and dining room; Hardwood floors and new windows in both units
