Two-Unit Duplex with Finished Rec
New
For Sale
$295,000
713 Saint Clair St, Grosse Pointe, MI 48230
The property includes a tenant-occupied lower residence and a vacant upper residence near village shopping, restaurants, and schools.
Property Size1,450 SF
Days on Market2
Property Features for 713 Saint Clair St
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,843
Building Details
Building Size
1,450 SF
Year Built
1926
Units
2
Listed By:
Thomas R Youngblood · License #MISPE-6506026516
(313) 815-9958
Source:
Elliman
Added: Sep 9
Last Checked: Sep 9 at 3:21PM
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 Thomas R Youngblood
Investment Insights
Based on property information with market context.
Built in 1926, this duplex offers two residential units with distinct occupancy positions. The lower unit is leased month to month and includes a finished recreation room and full bathroom. The upper unit is currently vacant. Existing property features include appliances, window treatments, and mechanical systems described as good.
The property is located at 713 Saint Clair St in Grosse Pointe, within walking distance of the village shopping district, neighborhood club, local restaurants, and schools. Walk Score is 66, Bike Score is 56, and Transit Score is 42, reflecting pedestrian, bicycle, and transit access in the surrounding area.
The property is located at 713 Saint Clair St in Grosse Pointe, within walking distance of the village shopping district, neighborhood club, local restaurants, and schools. Walk Score is 66, Bike Score is 56, and Transit Score is 42, reflecting pedestrian, bicycle, and transit access in the surrounding area.
Key Highlights
- Duplex at 713 Saint Clair St, Grosse Pointe, MI 48230
- Lower unit rented month to month
- Upper unit currently vacant
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
$14,235
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
4.83%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes a tenant-occupied lower residence and a vacant upper residence near village shopping, restaurants, and schools.
Where is this duplex located?
The property is located at 713 Saint Clair St 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 St, Grosse Pointe, MI 48230; Lower unit rented month to month; Upper unit currently vacant
