Updated Two-Unit
816-818 E 5th Street, Royal Oak, MI 48067
For Sale
New
$469,900
MULTIFAMILY, Royal Oak, MI
Property Size1,863 SF
Lot Size0.11 Acres
Price / SF$252.23
Days on Market4
Property Features for 816-818 E 5th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Subdivision
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Water source
Amenities
laundry
storage
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Sine & Monaghan LLC
(313) 884-7000
Listed By:
Panagiota Vasilos · License MI #6506046473
(313) 477-3124
Added: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# 50227245
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.
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Investment Insights
Based on property information with market context.
This 1950-built duplex contains 1,863 square feet across two residences, each arranged with two bedrooms and one full bath. A shared basement offers laundry and storage space. Separate utilities serve the units, and the property includes a newer roof and newer A/C and HVAC systems.
The 0.11-acre property is in Royal Oak, Michigan. Both residences are occupied by family friends, without formal rental agreements.
The 0.11-acre property is in Royal Oak, Michigan. Both residences are occupied by family friends, without formal rental agreements.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bath
- 1,863 square feet on a 0.11‑acre lot
- Newer roof, A/C, and HVAC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,659
Cap Rate
5.25%
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 5.25%
Second Best
Apartment 5plus
$326.5K
$285.7K – $380.9K
NOI $22,852 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$401.8K
$351.6K – $468.8K
NOI $28,128 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
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
$309,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Royal Oak, MI
Properties on Market for Duplexes in Royal Oak
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one full bath, and separate utilities.
Where is this duplex located?
The property is located at 816-818 E 5th Street Royal Oak, MI.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bath; 1,863 square feet on a 0.11‑acre lot; Newer roof, A/C, and HVAC systems
