Duplex With Updated
For Sale
$549,000
752-754 Neff Rd, Grosse Pointe, MI 48230
An occupied upper apartment and vacant lower unit offer distinct options for occupancy or rental use.
Property Size2,656 SF
Price / SF$206.70
Days on Market9
Property Features for 752-754 Neff Rd
General Information
Standard status
Active
Size
2,656 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
refinished hardwood floors
updated windows
updated kitchens and baths
separate laundry
newer mechanicals
back patio
Building Details
Year Built
1937
Listing Agency:
B & B Realty Solutions
(810) 441-7548
Listed By:
In Network Real Estate Group
(248) 655-7955
Source:
Innetworkrealestate
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 5 at 6:40PM
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 B & B Realty Solutions
Investment Insights
Based on property information with market context.
Built in 1937, this 2,656-square-foot duplex contains two updated apartments. Both have refinished hardwood floors, newer windows, remodeled kitchens and bathrooms, separate laundry, and newer mechanical systems. The upper unit is tenant-occupied; the lower apartment is vacant and includes a bedroom facing the rear patio plus an adjoining flex room.
The property is within walking distance of The Village, Neighborhood Club, and schools. The lower unit’s additional room can accommodate a range of uses, including office, exercise, or closet space.
The property is within walking distance of The Village, Neighborhood Club, and schools. The lower unit’s additional room can accommodate a range of uses, including office, exercise, or closet space.
Key Highlights
- 2,656‑square‑foot duplex built in 1937
- Two units with refinished hardwood floors, updated kitchens and baths, and newer windows
- Separate laundry and newer mechanicals in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,075
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,500
$521.5K
Cap Rate 7%
$372,500
$372.5K
Cap Rate 9%
$289,722
$289.7K
Market Conditions
NOI Build-Up for 2,656 SF
Gross rent
$39.8K $15.00/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$37.3K $14.03/SF
− OpEx
−$11.2K −$4.21/SF
NOI
$26.1K $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%
$521,500
Cap Rate 7%
$372,500
Cap Rate 9%
$289,722
Alternative Uses
Best Use
Multifamily LT 5
$372.5K
$325.9K – $434.6K
NOI $26,075 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,944 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property 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
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 - An occupied upper apartment and vacant lower unit offer distinct options for occupancy or rental use.
Where is this duplex located?
The property is located at 752-754 Neff Rd Grosse Pointe, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 2,656‑square‑foot duplex built in 1937; Two units with refinished hardwood floors, updated kitchens and baths, and newer windows; Separate laundry and newer mechanicals in both apartments
