Multifamily Property with Finished
For Sale
$264,900
11697 Moran Street, Hamtramck, MI 48212
Bungalow-style multifamily property with nine bedrooms, four full bathrooms, and additional finished lower-level living space.
Property Size1,380 SF
Price / SF$191.96
Days on Market52
Property Features for 11697 Moran Street
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Multi-Family
Building Details
Year Built
1921
Listing Agency:
Amin Realty
(833) 264-6832
Listed By:
Sheikh Ali · License #431735
Source:
Bhhssnyder
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 29 at 11:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Amin Realty
Investment Insights
Based on property information with market context.
Built in 1921, this bungalow-style multifamily property at 11697 Moran Street offers 1,380 square feet of property size and a substantial residential layout. The main level includes seven bedrooms and three full bathrooms, while the finished basement adds two more bedrooms and one full bathroom. The lower level also provides additional space for living, storage, or customization.
The property is located in Hamtramck near mosques, grocery stores, schools, and everyday amenities. Its bedroom count and finished basement support a range of residential configurations, including extended-family living and income-oriented use. The address is in the 48212 ZIP code.
The property is located in Hamtramck near mosques, grocery stores, schools, and everyday amenities. Its bedroom count and finished basement support a range of residential configurations, including extended-family living and income-oriented use. The address is in the 48212 ZIP code.
Key Highlights
- Seven bedrooms and three full bathrooms on the main level
- Finished basement with 2 additional bedrooms and 1 full bathroom
- 1,380 property size
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
$12,441
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
4.70%
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%
$248,820
$248.8K
Cap Rate 7%
$177,729
$177.7K
Cap Rate 9%
$138,233
$138.2K
Market Conditions
NOI Build-Up for 1,380 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
$24.0K $17.40/SF
− Vacancy
−$1.4K −$1.01/SF
EGI
$22.6K $16.39/SF
− OpEx
−$10.2K −$7.38/SF
NOI
$12.4K $9.01/SF
Area
Wayne County, MI
Vacancy
5.80%
Lease Rate
$17.40 /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%
$248,820
Cap Rate 7%
$177,729
Cap Rate 9%
$138,233
Alternative Uses
Best Use
Apartment 5plus
$177.7K
$155.5K – $207.4K
NOI $12,441 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$255.5K
$223.6K – $298.1K
NOI $17,885 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 48212, MI
43,192
Population
14,739
Households
2.9
Avg Household Size
29
Median Age
16%
College-Educated
68%
High-School Grad
5.3 sq mi
ZIP Area
8,149
Density / Sq Mi
$37,293
Median Household Income
$28,894
Median Earnings
$935
Median Rent
$98,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Bungalow-style multifamily property with nine bedrooms, four full bathrooms, and additional finished lower-level living space.
Where is this multifamily property located?
The property is located at 11697 Moran Street Hamtramck, MI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Seven bedrooms and three full bathrooms on the main level; Finished basement with 2 additional bedrooms and 1 full bathroom; 1,380 property size
