Updated Two-Unit
For Sale
$650,000
Pending
795-797 Harcourt Road, Grosse Pointe, MI 48230
MULTIFAMILY, Grosse Pointe, MI
Property Size3,244 SF
Lot Size0.17 Acres
Days on Market51
Property Features for 795-797 Harcourt Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Basement, Bathroom 6, Bedroom 2, Bedroom 4, Bedroom 1
Fireplace
1
Subdivision
Lakeview Estates Sub
Elementary school district
Grosse Pointe Public Schools
Middle school district
Grosse Pointe Public Schools
High school district
Grosse Pointe Public Schools
Standard status
Pending
APN
39-006-04-0068-000
Size
3,244 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16897
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
sunroom/family room
private yard and patio
Building Details
Year built
1951
Floors in Building
2
Number of units
2
Listing Agency:
Adlhoch & Associates, REALTORS
(313) 882-5200
Listed By:
Jennifer Frustaci Adlhoch · License #MISPE-6501416959
(313) 506-3721
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 9 at 4:06AM
MLS# 50215611
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,244-square-foot duplex, built in 1951, contains two residential units with matching layouts: two bedrooms and two full bathrooms per unit. Each residence includes a large living room, a sunroom or family room, hardwood flooring, and a renovated kitchen. Marvin windows, the roof, and gutters have also been updated. Forced-air heat, central air, ceiling fans, fireplaces, and public water serve the property.
Set on 0.17 acres at 795-797 Harcourt Road in Grosse Pointe, the property includes a three-car garage, yard space, and patios. The location is near Lake St. Clair and local residents-only parks with waterfront swimming pools, pickleball courts, a marina, and movie theaters.
Set on 0.17 acres at 795-797 Harcourt Road in Grosse Pointe, the property includes a three-car garage, yard space, and patios. The location is near Lake St. Clair and local residents-only parks with waterfront swimming pools, pickleball courts, a marina, and movie theaters.
Key Highlights
- Two‑unit duplex with 3,244 square feet of building area
- Each unit includes 2 bedrooms and 2 full bathrooms
- Renovated kitchens, Marvin windows, roof, and gutters
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
$31,848
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
4.90%
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%
$636,960
$637.0K
Cap Rate 7%
$454,971
$455.0K
Cap Rate 9%
$353,867
$353.9K
Market Conditions
NOI Build-Up for 3,244 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
$48.7K $15.00/SF
− Vacancy
−$3.2K −$0.98/SF
EGI
$45.5K $14.03/SF
− OpEx
−$13.6K −$4.21/SF
NOI
$31.8K $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%
$636,960
Cap Rate 7%
$454,971
Cap Rate 9%
$353,867
Alternative Uses
Best Use
Multifamily LT 5
$455.0K
$398.1K – $530.8K
NOI $31,848 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$417.8K
$365.6K – $487.4K
NOI $29,244 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$600.6K
$525.5K – $700.7K
NOI $42,042 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
260
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 - The duplex offers updated interiors alongside garage parking and private yard and patio areas.
Where is this duplex located?
The property is located at 795-797 Harcourt Road Grosse Pointe, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,244 square feet of building area; Each unit includes 2 bedrooms and 2 full bathrooms; Renovated kitchens, Marvin windows, roof, and gutters
