Updated Duplex with Detached
For Sale
$229,999
840 Vinewood St, Wyandotte, MI
Two separately entered residences offer independent furnaces, hot water tanks, and shared basement laundry space.
Property Size1,296 SF
Price / SF$177.47
Days on Market175
Property Features for 840 Vinewood St
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,958
Amenities
common laundry
Listing Agency:
J Dillon Realty
(734) 777-4448
Listed By:
Joshua A Dillon · License #6502417067
(734) 777-4448
Source:
Exprealty
Added: Mar 10
Changed: Aug 31
Last Checked: Aug 31 at 7:26PM
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 J Dillon Realty
Investment Insights
Based on property information with market context.
This 1,296-square-foot duplex contains two updated residences, each with 2 bedrooms, 1 full bath, and a private entrance. The lower unit has hardwood flooring and a refreshed bathroom, while the upper unit includes new carpet, updated LVT kitchen flooring, and refreshed finishes. An enclosed rear foyer supports separate access to each residence and protects the interior stairway. Separate furnaces and hot water tanks provide independent utility systems. The property also includes a basement laundry area, an encapsulated crawl space, and a detached garage with a new door. Additional improvements include a newer roof, some vinyl windows, updated gutters with guards, and concrete repairs. Located in Wyandotte near downtown, the Detroit River waterfront, parks, shopping, and restaurants, the property sits on a double lot with rear alley access.
Key Highlights
- Two 2‑bedroom, 1‑bath residences with private entrances
- 1,296 square feet on a double lot
- Separate furnaces and hot water tanks for each unit
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
$12,723
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
5.53%
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%
$254,460
$254.5K
Cap Rate 7%
$181,757
$181.8K
Cap Rate 9%
$141,367
$141.4K
Market Conditions
NOI Build-Up for 1,296 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
$19.4K $15.00/SF
− Vacancy
−$1.3K −$0.98/SF
EGI
$18.2K $14.03/SF
− OpEx
−$5.5K −$4.21/SF
NOI
$12.7K $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%
$254,460
Cap Rate 7%
$181,757
Cap Rate 9%
$141,367
Alternative Uses
Best Use
Multifamily LT 5
$181.8K
$159.0K – $212.1K
NOI $12,723 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$166.9K
$146.0K – $194.7K
NOI $11,683 @ 7.0% cap · market cap 5.08%
Theoretical Best
Specialty Retail
$239.9K
$210.0K – $279.9K
NOI $16,796 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
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 - Two separately entered residences offer independent furnaces, hot water tanks, and shared basement laundry space.
Where is this duplex located?
The property is located at 840 Vinewood St Wyandotte, MI.
What is the asking price?
The asking price for this property is $229,999.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath residences with private entrances; 1,296 square feet on a double lot; Separate furnaces and hot water tanks for each unit
