Multifamily Property with
3778 N Custer Road Monroe, MI 48162
3778 N Custer Road, Monroe, MI, 48162
$599,000
For Sale
$599,000
MULTI_FAMILY - Monroe, MI
Property Size5,532 SF
Lot Size2.19 Acres
Price / SF$108.28
Days on Market126
Property Features for 3778 N Custer Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 6
- Rooms
- Bedroom 8, Bedroom 1, Bedroom 4, Bedroom 9, Bathroom 5, Basement, Bathroom 4, Bathroom 6, Bathroom 3, Bedroom 5, Bedroom 10, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 1
- Standard status
- Active
- Size
- 5,532 SF
- Lot size
- 2.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 8875
Utilities
- Heating system
- Forced Air, Wall Furnace, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1917
- Number of units
- 6
Listing agency
Coldwell Banker Haynes R.E. in Monroe
(734) 242-8484
Listed by
Erika Baehr · License #6501332078
(734) 735-0937
Added: Mar 18 Updated: Jul 9 at 3:04AM Checked: Jul 21 at 9:06PM
MLS# 50201871
Copyright © 2026 Southeastern Border Association of REALTORS®. 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 multifamily property includes a stand-alone 3-bedroom, 1-bath home with a full basement (Unit 6) and five additional rental units. Units 1–3 feature full basements, while Units 4 and 5 provide single-floor living. Units 1–5 have been recently updated with paint, flooring, kitchens, and bathrooms. Heating and electric are separate for all units, and the water expense is shared. Washer/dryer hook-ups are included, with Units 4 and 5 sharing a utility room.
The property also offers four garage spaces and an attached enclosed office area that may support additional rental or storage use. An original 38x175 dairy barn with loft is included, with new metal siding and an updated roof.
Set on approximately 2.19 acres, the property provides views of the River Raisin from the front and open farmland behind, with direct access to the newly extended Heritage Bike Trail from the property.
The property also offers four garage spaces and an attached enclosed office area that may support additional rental or storage use. An original 38x175 dairy barn with loft is included, with new metal siding and an updated roof.
Set on approximately 2.19 acres, the property provides views of the River Raisin from the front and open farmland behind, with direct access to the newly extended Heritage Bike Trail from the property.
Key Highlights
- Year built 1917 multi‑unit property, originally the Woodland Farms homestead
- Includes a stand‑alone 3‑bedroom, 1‑bath home with a full basement plus five additional rental units (Units 1‑5)
- Units 1‑5 have recently updated paint, flooring, kitchens, and bathrooms
Local Financial Insights For Apartment 5plus
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 | $88.3k | $15.96 |
| − Vacancy | −$5.1k | −$0.93 |
| EGI | $83.2k | $15.03 |
| − OpEx | −$37.4k | −$6.77 |
| NOI | $45.7k | $8.27 |
5,532 SF · lease $15.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$653.5K
$571.8K – $762.4K
NOI $45,743 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.71M
$4.99M – $6.66M
NOI $399,389 @ 7.0% cap · market cap 66.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property includes multiple rental units with separate heating and electric plus an updated dairy barn with loft.
Where is this apartment building located?
The property is located at 3778 N Custer Road Monroe, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Year built 1917 multi‑unit property, originally the Woodland Farms homestead; Includes a stand‑alone 3‑bedroom, 1‑bath home with a full basement plus five additional rental units (Units 1‑5); Units 1‑5 have recently updated paint, flooring, kitchens, and bathrooms
