Side-by-Side Duplex with
For Sale
$595,000
7880 Van Dyke Pl, Detroit, MI 48214
Two townhouse-style residences offer separate basements, private porches, updated systems, and included appliances.
Property Size5,014 SF
Days on Market42
Property Features for 7880 Van Dyke Pl
General Information
Standard status
Active
Size
5,014 SF
Total Parking Spaces
3
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,929
Amenities
covered front porches
second-floor sunrooms
rear courtyard
wrought-iron perimeter fence
Building Details
Building Size
5,014 SF
Year Built
1910
Units
2
Listing Agency:
Berkshire Hathaway HomeServices The Loft Warehouse
(313) 693-3741
Listed By:
Jerome Huez · License #6501368881
(313) 693-3741
Source:
Elliman
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 30 at 8:10PM
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 Berkshire Hathaway HomeServices The Loft Warehouse
Investment Insights
Based on property information with market context.
This 1910 duplex contains two side-by-side, townhouse-style residences, each with three/four bedrooms, two full bathrooms, a private basement, covered front porch, and second-floor sunroom. Interior character includes original wood flooring, decorative fireplaces, detailed trim, and substantial natural light. A sealed living-room doorway allows the two units to be reconnected, while independent mechanical systems support their current two-family arrangement. Appliances in both residences are included.
The property sits at 7880 Van Dyke Pl in Detroit’s West Village, along a tree-lined residential street. A rear courtyard, wrought-iron perimeter fence, and three-car garage add exterior utility and character. Major updates include boilers, water heaters, electrical panels, house and garage roofs, and garage doors. Walk Score is 50, Bike Score is 68, and Transit Score is 54.
The property sits at 7880 Van Dyke Pl in Detroit’s West Village, along a tree-lined residential street. A rear courtyard, wrought-iron perimeter fence, and three-car garage add exterior utility and character. Major updates include boilers, water heaters, electrical panels, house and garage roofs, and garage doors. Walk Score is 50, Bike Score is 68, and Transit Score is 54.
Key Highlights
- Two side‑by‑side units, each with three/four bedrooms and two full baths
- Separate private basements and independent mechanical systems
- Three‑car garage with updated garage doors
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
$52,600
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
8.84%
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%
$1,052,000
$1.1M
Cap Rate 7%
$751,429
$751.4K
Cap Rate 9%
$584,444
$584.4K
Market Conditions
NOI Build-Up for 5,014 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
$102.3K $20.40/SF
− Vacancy
−$6.6K −$1.33/SF
EGI
$95.6K $19.07/SF
− OpEx
−$43.0K −$8.58/SF
NOI
$52.6K $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%
$1,052,000
Cap Rate 7%
$751,429
Cap Rate 9%
$584,444
Alternative Uses
Best Use
Multifamily LT 5
$818.6K
$716.3K – $955.0K
NOI $57,302 @ 7.0% cap · market cap 9.63%
Second Best
Apartment 5plus
$751.4K
$657.5K – $876.7K
NOI $52,600 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$1.11M
$967.9K – $1.29M
NOI $77,428 @ 7.0% cap · market cap 13.01%
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
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
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 - Two townhouse-style residences offer separate basements, private porches, updated systems, and included appliances.
Where is this duplex located?
The property is located at 7880 Van Dyke Pl Detroit, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with three/four bedrooms and two full baths; Separate private basements and independent mechanical systems; Three‑car garage with updated garage doors
