Updated Three-Unit
For Sale
$349,900
40 Ahrens Street, Mount Clemens, MI 48043
MULTIFAMILY, Mount Clemens, MI
Property Size2,134 SF
Lot Size0.18 Acres
Price / SF$163.96
Days on Market269
Property Features for 40 Ahrens Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Basement, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4
Appliances
Dryer, Freezer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
Ahrns Add
Elementary school district
Mt Clemens Community Schools
Middle school district
Mt Clemens Community Schools
High school district
Mt Clemens Community Schools
Standard status
Active
APN
05-11-11-426-004
Size
2,134 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4417
Utilities
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Listing Agency:
HomeCoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #B.1003079.CORP
(888) 400-2513
Added: Nov 26, 2025
Changed: Aug 19
Last Checked: Aug 22 at 4:06PM
MLS# 50195177
Copyright © 2026 Multiple Listing Service MiRealSource. 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 updated three-unit triplex offers a well-kept residential income layout currently at capacity. The property includes three separate units: Unit 1 is a three-bedroom, one-bath unit; Unit 2 is a one-bedroom, one-bath unit; and Unit 3 is a two-bedroom, one-bath unit. In total, the building provides six bedrooms and three bathrooms.
Improvements and finishes called out in the property information include granite countertops, luxury vinyl plank flooring, soft-close kitchen cabinets, hardwood floors, and brand new high-efficiency furnaces. City rental inspections and certifications are in place for all units. Tenants are responsible for their own gas and electric, while the owner is responsible for water.
Built in 1940, the triplex sits on a 0.18-acre lot and is served by public water. The property size is 2,134 square feet, and listed appliances include a refrigerator, range/oven, microwave, washer, dryer, and freezer.
Improvements and finishes called out in the property information include granite countertops, luxury vinyl plank flooring, soft-close kitchen cabinets, hardwood floors, and brand new high-efficiency furnaces. City rental inspections and certifications are in place for all units. Tenants are responsible for their own gas and electric, while the owner is responsible for water.
Built in 1940, the triplex sits on a 0.18-acre lot and is served by public water. The property size is 2,134 square feet, and listed appliances include a refrigerator, range/oven, microwave, washer, dryer, and freezer.
Key Highlights
- 0.18‑acre lot with a 2,134 SF triplex built in 1940
- Three units: Unit 1 (3 bed/1 bath), Unit 2 (1 bed/1 bath), Unit 3 (2 bed/1 bath)
- Six total bedrooms and three total bathrooms
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
$22,590
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
6.46%
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%
$451,800
$451.8K
Cap Rate 7%
$322,714
$322.7K
Cap Rate 9%
$251,000
$251.0K
Market Conditions
NOI Build-Up for 2,134 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
$34.6K $16.20/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$32.3K $15.12/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$22.6K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$451,800
Cap Rate 7%
$322,714
Cap Rate 9%
$251,000
Alternative Uses
Best Use
Multifamily LT 5
$322.7K
$282.4K – $376.5K
NOI $22,590 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$286.3K
$250.5K – $334.0K
NOI $20,041 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$399.5K
$349.6K – $466.1K
NOI $27,966 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with six bedrooms and three bathrooms, city rental inspections, and tenants paying gas and electric.
Where is this triplex located?
The property is located at 40 Ahrens Street Mount Clemens, 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: 0.18‑acre lot with a 2,134 SF triplex built in 1940; Three units: Unit 1 (3 bed/1 bath), Unit 2 (1 bed/1 bath), Unit 3 (2 bed/1 bath); Six total bedrooms and three total bathrooms
