Duplex with Finished Recreation
713 Saint Clair Ave, Grosse Pointe, MI
For Sale
$295,000
Pending
Two-unit property with one occupied apartment and a separate vacant upper residence near village amenities.
Property Size1,450 SF
Days on Market64
Property Features for 713 Saint Clair Ave
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Listing Agency:
Real Estate One Grosse Pointe
(313) 886-1000
Listed By:
Thomas R Youngblood · License MI #6506026516
(313) 815-9958
Source:
Exprealty
Added: Sep 8
Changed: Nov 8
Last Checked: Nov 8 at 8:08AM
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 Real Estate One Grosse Pointe
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Investment Insights
Based on property information with market context.
This duplex at 713 Saint Clair Ave includes two residential units with established mechanical systems, appliances, and window treatments. The lower apartment is leased month to month and includes a finished recreation room plus a full bathroom. The upper unit is currently vacant, providing a separate residential space within the building.
The property is located in Grosse Pointe within a short walk of the village shopping district, neighborhood club, restaurants, and schools. The 1,450-property-size figure is provided in the listing record without a stated unit of measure.
The property is located in Grosse Pointe within a short walk of the village shopping district, neighborhood club, restaurants, and schools. The 1,450-property-size figure is provided in the listing record without a stated unit of measure.
Key Highlights
- Duplex at 713 Saint Clair Ave in Grosse Pointe
- Lower unit rented month to month
- Finished recreation room and full bath in lower unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,235
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,700
$284.7K
Cap Rate 7%
$203,357
$203.4K
Cap Rate 9%
$158,167
$158.2K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$21.8K $15.00/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$20.3K $14.03/SF
− OpEx
−$6.1K −$4.21/SF
NOI
$14.2K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,700
Cap Rate 7%
$203,357
Cap Rate 9%
$158,167
Alternative Uses
Best Use
Multifamily LT 5
$203.4K
$177.9K – $237.3K
NOI $14,235 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$186.7K
$163.4K – $217.9K
NOI $13,072 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$268.5K
$234.9K – $313.2K
NOI $18,792 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,082
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Market
Average Price Trend$/SF for Duplexes in Wayne County, MI
Properties on Market for Duplexes in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with one occupied apartment and a separate vacant upper residence near village amenities.
Where is this duplex located?
The property is located at 713 Saint Clair Ave Grosse Pointe, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex at 713 Saint Clair Ave in Grosse Pointe; Lower unit rented month to month; Finished recreation room and full bath in lower unit
