Updated Two-Unit
For Sale
$479,900
816-818 E 5th Street, Royal Oak, MI 48067
MULTIFAMILY, Royal Oak, MI
Property Size1,863 SF
Lot Size0.11 Acres
Price / SF$257.60
Days on Market47
Property Features for 816-818 E 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
Replat Of Alex Knowles
Elementary school district
Royal Oak Neighborhood Schools
Middle school district
Royal Oak Neighborhood Schools
High school district
Royal Oak Neighborhood Schools
Standard status
Active
APN
25-22-178-005
Size
1,863 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
5696
Utilities
Heating system
Forced Air
Water source
Public
Amenities
shared basement storage
laundry
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Listing Agency:
Sine & Monaghan LLC
(313) 884-7000
Listed By:
Panagiota Vasilos · License #6506046473
(313) 477-3124
Added: Sep 16
Changed: Oct 27
Last Checked: Nov 1 at 8:06PM
MLS# 50222006
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Investment Insights
Based on property information with market context.
This duplex at 816-818 E 5th Street contains 1,863 square feet and was built in 1950. The property includes two residential units, each configured with 2 bedrooms and 1 full bathroom. Separate utilities serve the units, while a shared basement provides laundry and storage space. Appliances include ranges/ovens, refrigerators, dishwashers, microwaves, washers, and dryers. Forced-air heating and public water service are in place, and the property has received updates to the roof, A/C, and HVAC systems.
The 0.11-acre parcel is located in Royal Oak, Oakland County, with postal code 48067. Both units are currently occupied by family friends without formal rental agreements. The layout supports continued two-unit residential use, with practical shared service areas and separate utility arrangements.
The 0.11-acre parcel is located in Royal Oak, Oakland County, with postal code 48067. Both units are currently occupied by family friends without formal rental agreements. The layout supports continued two-unit residential use, with practical shared service areas and separate utility arrangements.
Key Highlights
- Two‑unit duplex with 1,863 square feet
- Each unit has 2 bedrooms and 1 full bathroom
- 0.11‑acre parcel in Royal Oak, MI 48067
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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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,055
Businesses Nearby
Explore this area
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 include separate utilities, shared laundry, and basement storage.
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 $479,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,863 square feet; Each unit has 2 bedrooms and 1 full bathroom; 0.11‑acre parcel in Royal Oak, MI 48067
