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    171 Davis St Wyandotte, MI 48192

    View on Map
    Sponsored
    For Sale
    $530,000

    Colonial - Wyandotte, MI

    Property size:
    2,832 SF
    Lot size:
    0.19 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 22 at 4:06 pm

    Property Features for 171 Davis St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi-Family
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Bathrooms
    4
    APN
    57007110456000
    Parking
    3
    Parking features
    Assigned, Paved or Surfaced
    Interior features
    Circuit Breakers, Laundry Facility
    Exterior features
    Chimney Cap(s), Lighting
    Basement Y/N
    1
    Size
    2,832 SF
    Lot size
    0.19 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1880
    Year renovated
    2025
    Floors in Building
    3
    Roof type
    Asphalt
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Michael C Seifert

    New Michigan Realty

    Listing agent Michael C Seifert

    Listing date Mar 20, 2026

    MLS# 20261018120 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Turnkey Fully Leased Multifamily Property

    This turnkey property in Wyandotte, MI, is a fully renovated and fully leased 3-unit building. The property has undergone extensive upgrades and is registered as a rental property with a full Certificate of Occupancy issued by the City of Wyandotte. Each apartment features independent utilities, including a separate landlord electric and gas meter, its own circuit breaker panel, forced air furnace, central A/C, and electric water heater. Each unit also has private in-unit laundry. New energy-efficient windows have been installed throughout the entire building. All units feature direct outside vented range hoods over the stove. The kitchens have been modernized with new cabinetry, backsplashes, and countertops. The bathrooms are completely remodeled with new fixtures and code-compliant exhaust fans with proper ventilation. Additional upgrades include new vinyl flooring, recessed lighting, updated doors, and fresh paint throughout. Each tenant enjoys a private outdoor sitting deck. The rear parking pad features assigned parking spots with signage for each unit. Situated on a quiet residential street with quick access to major freeways, this property combines quality, comfort, and an excellent location. The property size is 2832 square feet, situated on a lot of 0.19 acres. Current management is willing to continue managing the property for the new owner or assist with management transition for the first 60 days at no cost.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wyandotte
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1904
    Latitude
    42.1883

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    FAQs

    What type of property is this?
    Multifamily property - Fully renovated 3-unit property with independent utilities and private laundry.
    Where is this multifamily property located?
    The property is located at 171 Davis St Wyandotte, MI.
    What is the asking price?
    The asking price for this property is $530,000.
    What are key features of this property?
    This property features: - Turnkey, fully renovated, and fully leased 3-unit property with Certificate of Occupancy, ready for immediate income generation.; - Independent utilities for each unit, simplifying tenant billing and management.; - Private in-unit laundry for each apartment, increasing tenant appeal.
    (844) 639-6424
    Request Owner's contact information
    171 Davis St Wyandotte, MI 48192
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    Wyandotte, MI 48192
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    171 Davis St Wyandotte, MI 48192
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    Listing Contact
    Michael C Seifert
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