Two-Unit Brick
New
For Sale
$140,000
9501 McQuade Street, Detroit, MI 48206
Multifamily, 2 Story, Detroit, MI
Property Size1,130 SF
Lot Size0.08 Acres
Price / SF$123.89
Days on Market4
Property Features for 9501 McQuade Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 6
Pets allowed
Call
Subdivision
Mc Quades Dexter Blvd
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
W of Dexter Ave, S of Chicago Blvd.
Standard status
Active
APN
W14I006447S
Size
1,130 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
W MCQUADE 284 MCQUADES DEXTER BOULEVARD SUB L35 P5 PLATS, W C R 14/184 35 X 100
Tax Annual Amount
4262
Legal Description
W MCQUADE 284 MCQUADES DEXTER BOULEVARD SUB L35 P5 PLATS, W C R 14/184 35 X 100
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
EXP Realty Plymouth
(855) 477-7355
Listed By:
Justin S Ford · License #6506044880
(313) 400-5491
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 3 at 2:06AM
MLS# 20261076556
Copyright © 2026 Realcomp Limited II. 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.
This brick duplex contains two residences, with one on each level and three bedrooms in each. The property encompasses 1,130 square feet on a 0.08-acre lot and was built in 1923. Colonial-style details, forced-air heating, and public water are among its recorded features. The property is zoned Multi-Family.
Key Highlights
- Two separate residences, each with three bedrooms
- 1,130 square feet on a 0.08‑acre lot
- Built in 1923 with brick construction
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
$11,854
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
8.47%
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%
$237,080
$237.1K
Cap Rate 7%
$169,343
$169.3K
Cap Rate 9%
$131,711
$131.7K
Market Conditions
NOI Build-Up for 1,130 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
$23.1K $20.40/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$21.6K $19.07/SF
− OpEx
−$9.7K −$8.58/SF
NOI
$11.9K $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%
$237,080
Cap Rate 7%
$169,343
Cap Rate 9%
$131,711
Alternative Uses
Best Use
Multifamily LT 5
$184.5K
$161.4K – $215.2K
NOI $12,914 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$169.3K
$148.2K – $197.6K
NOI $11,854 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$249.3K
$218.1K – $290.8K
NOI $17,450 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Upper- and lower-level homes each provide three bedrooms and a separate living space.
Where is this duplex located?
The property is located at 9501 McQuade Street Detroit, MI.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two separate residences, each with three bedrooms; 1,130 square feet on a 0.08‑acre lot; Built in 1923 with brick construction
