Renovated Two-Unit
For Sale
$239,000
5860 Hazlett Street, Detroit, MI 48210
Multifamily, 2 Story, Detroit, MI
Property Size1,930 SF
Lot Size0.16 Acres
Price / SF$123.83
Days on Market53
Property Features for 5860 Hazlett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Pets allowed
Call
Interior features
Cable Available
Subdivision
Robert M Grindleys
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
East of Livernois
Standard status
Active
APN
W16I013414S
Size
1,930 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2026. E HAZLETT 12 BLK 5-ROBERT M GRINDLEYS SUB L15 P32 PLATS, W C R 16/100 30 X 115
Tax Annual Amount
2440
Legal Description
PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2026. E HAZLETT 12 BLK 5-ROBERT M GRINDLEYS SUB L15 P32 PLATS, W C R 16/100 30 X 115
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Building materials
Vinyl
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
RE/MAX Leading Edge · RE/MAX International
(313) 277-7777
Listed By:
Nazareth Sanchez · License #6501438534
(313) 728-6853
Added: Jul 24
Changed: Sep 12
Last Checked: Sep 14 at 5:06AM
MLS# 20261057517
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,930-square-foot duplex contains two matching units, each with 3 bedrooms and 1 bathroom. Both residences feature remodeled kitchens, vinyl flooring, recessed lighting, updated bathrooms with floor-to-ceiling ceramic tile, and fresh interior paint. Separate entrances serve each unit. The property also includes a clean, unfinished basement, a new front porch, vinyl windows, newer roofing, whole-house PEX plumbing, a 200-amp electrical panel, and updated wiring. Constructed in 1917, the two-story Colonial is situated on a 0.16-acre lot, with an adjacent vacant lot included in the sale.
The property is located near Livernois and W Warren Ave, with access to I-94 and I-96. Henry Ford Hospital, Wayne State University, and the Motown Museum are nearby, while Downtown Detroit, Midtown, and Mexicantown are minutes away. Public water service and forced-air heating serve the building.
The property is located near Livernois and W Warren Ave, with access to I-94 and I-96. Henry Ford Hospital, Wayne State University, and the Motown Museum are nearby, while Downtown Detroit, Midtown, and Mexicantown are minutes away. Public water service and forced-air heating serve the building.
Key Highlights
- Two‑unit duplex with 1,930 square feet and two matching 3‑bedroom, 1‑bath units
- Renovated kitchens and bathrooms with floor‑to‑ceiling ceramic tile
- Separate entrance for each unit
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
$20,247
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
8.47%
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%
$404,940
$404.9K
Cap Rate 7%
$289,243
$289.2K
Cap Rate 9%
$224,967
$225.0K
Market Conditions
NOI Build-Up for 1,930 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
$39.4K $20.40/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$36.8K $19.07/SF
− OpEx
−$16.6K −$8.58/SF
NOI
$20.2K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$404,940
Cap Rate 7%
$289,243
Cap Rate 9%
$224,967
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,057 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$425.8K
$372.6K – $496.7K
NOI $29,804 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 48210, MI
27,155
Population
10,576
Households
2.6
Avg Household Size
28
Median Age
9%
College-Educated
57%
High-School Grad
4.9 sq mi
ZIP Area
5,542
Density / Sq Mi
$38,900
Median Household Income
$25,220
Median Earnings
$968
Median Rent
$60,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with separate entrances, remodeled kitchens, and ceramic-tile bathrooms.
Where is this duplex located?
The property is located at 5860 Hazlett Street Detroit, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,930 square feet and two matching 3‑bedroom, 1‑bath units; Renovated kitchens and bathrooms with floor‑to‑ceiling ceramic tile; Separate entrance for each unit
