Updated Mid-Century
For Sale
$650,000
795-797 Harcourt Road, Grosse Pointe Park, MI 48230
Impeccably maintained duplex with two updated kitchens, hardwood floors, and spacious living areas plus sunroom space for each unit.
Property Size3,244 SF
Days on Market51
Property Features for 795-797 Harcourt Road
General Information
Standard status
Active
Size
3,244 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,897
Building Details
Building Size
3,244 SF
Year Built
1951
Stories
2
Units
2
Construction
mid-century modern
Tenancy
Multi
Listing Agency:
Adlhoch & Associates, REALTORS
(313) 882-5200
Listed By:
Jennifer Frustaci Adlhoch · License #MISPE-6501416959
(313) 506-3721
Source:
Insiderealty
Added: Jul 21
Changed: Sep 8
Last Checked: Aug 25 at 9:19AM
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 Adlhoch & Associates, REALTORS
Investment Insights
Based on property information with market context.
Impeccably maintained mid-century modern duplex featuring two 2-bedroom, 2-bath units. Both units have hardwood floors throughout, large living rooms, and a sunroom/family room, along with two beautifully renovated kitchens. Recent updates include new Marvin windows, as well as roof and gutters. The property also offers a three-car garage, a private yard, and patio space.
Set on a quiet street in Grosse Pointe Park, the home provides close proximity to Lake St. Clair and the city’s residents-only parks, which include movie theaters, waterfront swimming pools, pickleball courts, and a marina.
For sale as a duplex with the flexibility for investment use or owner-occupancy.
Set on a quiet street in Grosse Pointe Park, the home provides close proximity to Lake St. Clair and the city’s residents-only parks, which include movie theaters, waterfront swimming pools, pickleball courts, and a marina.
For sale as a duplex with the flexibility for investment use or owner-occupancy.
Key Highlights
- 1951‑built mid‑century modern duplex with two 2‑bedroom, 2‑bath units
- New Marvin windows and updated interiors throughout both units
- Two renovated kitchens and hardwood floors throughout both units
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
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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 - Impeccably maintained duplex with two updated kitchens, hardwood floors, and spacious living areas plus sunroom space for each unit.
Where is this duplex located?
The property is located at 795-797 Harcourt Road Grosse Pointe Park, 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: 1951‑built mid‑century modern duplex with two 2‑bedroom, 2‑bath units; New Marvin windows and updated interiors throughout both units; Two renovated kitchens and hardwood floors throughout both units
