Two-Unit Duplex with Finished Rec
For Sale
$295,000
Pending
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 Market55
Property Features for 713 Saint Clair St
General Information
Standard status
Pending
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
Listing Agency:
Real Estate One Grosse Pointe
Listed By:
Thomas R Youngblood · License #MISPE-6506026516
(313) 815-9958
Source:
Elliman
Added: Sep 9
Changed: Nov 2
Last Checked: Nov 1 at 5:44AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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
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
