Updated Two-Unit
For Sale
$479,900
816-818 E 5th St, Royal Oak, MI 48067
Two residential units offer separate utilities with shared basement storage and laundry.
Property Size1,863 SF
Price / SF$257.60
Days on Market50
Property Features for 816-818 E 5th St
General Information
Standard status
Active
Size
1,863 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Net Real Estate
(231) 499-0165
Listed By:
Mark Schmansky
(248) 701-0207
Source:
Patientmoves
Added: Sep 18
Changed: Nov 5
Last Checked: Nov 6 at 7:51AM
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 Net Real Estate
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Investment Insights
Based on property information with market context.
This duplex at 816-818 E 5th St in Royal Oak contains two residential units, each configured with 2 bedrooms and 1 full bath. Separate utilities serve the units, while a shared basement provides storage and laundry space. Recent property improvements include a newer roof and newer A/C and HVAC systems.
Built in 1950, the property is currently occupied by family friends, with no formal rental agreements in place. The two-unit layout and existing utility separation support consideration for an owner-occupant or investor, subject to review of occupancy arrangements and property records.
Built in 1950, the property is currently occupied by family friends, with no formal rental agreements in place. The two-unit layout and existing utility separation support consideration for an owner-occupant or investor, subject to review of occupancy arrangements and property records.
Key Highlights
- Two‑unit duplex at 816‑818 E 5th St, Royal Oak, MI 48067
- Each unit includes 2 bedrooms and 1 full bath
- Separate utilities serve the two residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,659
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,180
$493.2K
Cap Rate 7%
$352,271
$352.3K
Cap Rate 9%
$273,989
$274.0K
Market Conditions
NOI Build-Up for 1,863 SF
Gross rent
$36.9K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.2K $18.91/SF
− OpEx
−$10.6K −$5.67/SF
NOI
$24.7K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,180
Cap Rate 7%
$352,271
Cap Rate 9%
$273,989
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.2K – $411.0K
NOI $24,659 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$326.5K
$285.7K – $380.9K
NOI $22,852 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$401.8K
$351.6K – $468.8K
NOI $28,128 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,055
Businesses Nearby
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Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate utilities with shared basement storage and laundry.
Where is this duplex located?
The property is located at 816-818 E 5th St Royal Oak, MI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two‑unit duplex at 816‑818 E 5th St, Royal Oak, MI 48067; Each unit includes 2 bedrooms and 1 full bath; Separate utilities serve the two residential units
