Renovated Multi-Unit Conversion
For Sale
$349,900
89 Hague, Detroit, MI 48202
Residential Income, Detroit, MI
Property Size3,013 SF
Lot Size0.11 Acres
Price / SF$116.13
Days on Market76
Property Features for 89 Hague
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Laundry Room, Bathroom 3, Bedroom 3, Bedroom 2
Patio and Porch features
Deck, Patio
Interior features
Entrance Foyer
Fencing
Fenced
Fireplace
1
Subdivision
North End
Standard status
Active
APN
01002666.
Size
3,013 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3133
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1905
Floors in Building
3
Flooring type
Hardwood, Carpet, Vinyl
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Connection - Detroit
(248) 505-2509
Listed By:
Dennis Jakub · License #6501449193
(734) 355-8858
Added: Jun 30
Changed: Sep 12
Last Checked: Sep 13 at 10:06PM
MLS# 11858929
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Freshly renovated 5-bedroom, 3.5-bath residence on a full basement with an open-concept living area and kitchen. The basement includes one bedroom, a full bath, separate laundry room, and a utility room, with an egress window addition noted as supporting a separate living unit. A detached two-car garage and backyard space are included, and the property retains exterior staircases intended to complete separate unit access. The home has been recently rezoned with a stated plan for a future three-unit conversion, and an additional accessory dwelling unit above the detached garage is mentioned as a possibility; buyers should verify permits, zoning, and municipal approvals.
Located in Detroit’s historic North End at 89 Hague (48202), the property is described as just over a mile from Wayne State University and close to parks, schools, shopping, and major amenities. The seller is described as motivated and willing to provide seller credits toward completion of the multi-unit conversion.
Located in Detroit’s historic North End at 89 Hague (48202), the property is described as just over a mile from Wayne State University and close to parks, schools, shopping, and major amenities. The seller is described as motivated and willing to provide seller credits toward completion of the multi-unit conversion.
Key Highlights
- Freshly renovated 5‑bedroom, 3.5‑bath home with entrance foyer and mixed flooring including hardwood, carpet, and vinyl
- Fully renovated basement with open living/kitchen area, 1 bedroom, full bath, separate laundry room, and utility room
- Future multi‑unit conversion planned: recently rezoned and configured for a future three‑unit conversion, plus potential ADU above the detached 2‑car garage (buyer to verify approvals)
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
$31,608
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
9.03%
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%
$632,160
$632.2K
Cap Rate 7%
$451,543
$451.5K
Cap Rate 9%
$351,200
$351.2K
Market Conditions
NOI Build-Up for 3,013 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
$61.5K $20.40/SF
− Vacancy
−$4.0K −$1.33/SF
EGI
$57.5K $19.07/SF
− OpEx
−$25.9K −$8.58/SF
NOI
$31.6K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$632,160
Cap Rate 7%
$451,543
Cap Rate 9%
$351,200
Alternative Uses
Best Use
Apartment 5plus
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.7K
$581.6K – $775.5K
NOI $46,528 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Single family property - Freshly renovated 5-bedroom, 3.5-bath home with a full basement, detached two-car garage, and rezoning for a future three-unit conversion.
Where is this single family property located?
The property is located at 89 Hague Detroit, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Freshly renovated 5‑bedroom, 3.5‑bath home with entrance foyer and mixed flooring including hardwood, carpet, and vinyl; Fully renovated basement with open living/kitchen area, 1 bedroom, full bath, separate laundry room, and utility room; Future multi‑unit conversion planned: recently rezoned and configured for a future three‑unit conversion, plus potential ADU above the detached 2‑car garage (buyer to verify approvals)
