273 Southbound Gratiot Avenue Mount Clemens, MI 48043
MULTI_FAMILY - Colonial - Mount Clemens, MI
Property Features for 273 Southbound Gratiot Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 5, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
- Standard status
- Active
- APN
- 05-11-14-379-012
- Size
- 2,326 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4441
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1923
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Colonial
Listing agent James Fennell License #6501242077 (586) 996-1251
Listing office Berkshire Hathaway HomeServices Kee Realty NB 36622 Green St, Clinton Twp, MI (586) 315-5700
Listing date Jun 22, 2026
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Investment Insights
Based on property information with market context.
Located at 273 Southbound Gratiot Avenue in Mount Clemens, MI (Macomb County). The site totals 0.36 acres and includes 2,326 square feet of building area. The property is described as a duplex with the potential, for added value, to split the lot into two lots for resale of the back parcel.
This configuration can work well for an owner-occupant looking to live in one unit while renting the other, while also fitting buyers seeking a residential income property with distinct unit layouts. Each unit includes a full bath and kitchen, supporting day-to-day independence between spaces. The remodeled condition and current move-in readiness are practical considerations for tenants, owner-users, and investors evaluating a turn-key duplex with flexible living and work possibilities within the upper unit’s sitting area.
Key Highlights
- Totally remodeled, move‑in ready 2‑unit multi‑family home with updated finishes throughout
- First‑floor unit: 1 bedroom, large kitchen, and a full bathroom
- Upper unit: 3 bedrooms, full bath, kitchen, and a large sitting area for extra living space or a home office
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.7k | $16.20 |
| − Vacancy | −$2.5k | −$1.08 |
| EGI | $35.2k | $15.12 |
| − OpEx | −$10.6k | −$4.54 |
| NOI | $24.6k | $10.59 |
