Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    308 Ballard St Ypsilanti, MI 48197

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $360,000

    Updated duplex with potential for a third unit.

    Lot size:
    0.06 Acres

    Property Features for 308 Ballard St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.06 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Susan Fecteau
    Source: Elliman

    Listing Agency: Tree House Realty Group Inc. Listing Agent: Susan Fecteau

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Investment Property Near EMU

    This investment property is located close to EMU and features solid construction, hardwood floors, and original woodwork, most of which is unpainted. The property includes high ceilings and leaded glass beveled windows in the grand staircase. The kitchen and baths have been fully updated. Both units are desirable rentals and feature dishwashers and newer appliances. Shared laundry is located in the basement. The upstairs unit has a third-floor half story that creates a large second bedroom. The property has a small yard and a driveway that holds two cars. It is adjacent to a city parking lot. There is potential to create a third unit in the basement, as zoning allows, which could increase cash flow.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.6189576
    Latitude
    42.2451041

    Nearby Similar for Sale

    • $425,000
      671 SF

      Turnkey Cinnabon & Auntie Anne's Franchise

      Profitable, dual-brand franchise inside Meijer with strong sales and foot traffic.
      3825 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • $425,000
      671 SF

      Ypsilanti Retail Opportunity For Sale

      Retail property in Ypsilanti, MI, ideal for business opportunity.
      3825 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • New
      $2,930,000
      25,800 SF

      Ypsilanti Commercial Real Estate For Sale

      25,800 SF commercial property on 1.5 acres in Ypsilanti.
      265 S Harris Rd, Ypsilanti, MI 48198
      View Details
    • $300,000
      0.14 Acres

      Ypsilanti Duplex Near EMU

      Fully tenanted duplex near Eastern Michigan University.
      611 Emmet St, Ypsilanti, MI 48197
      View Details
    • New
      $650,000
      3.00 Acres

      Historic Farmhouse with Income Potential

      Ypsilanti farmhouse on 3 acres with outbuildings and apartments.
      7130 Platt Rd, Ypsilanti, MI 48197
      View Details
    • $349,900
      Pending

      Updated Duplex Near EMU Campus

      Spacious duplex near EMU with modern updates and income potential.
      701 Washtenaw Ave, Ypsilanti, MI 48197
      View Details
    • $284,900
      2,468 SF

      Ypsilanti Triplex Investment Opportunity

      Three-unit property near Eastern Michigan University with income potential.
      413 S Huron St S, Ypsilanti, MI 48197
      View Details
    • $850,000
      5,656 SF

      Renovated Industrial Flex Space

      Fully renovated flex space with light industrial zoning in Ypsilanti.
      59 Ecorse Rd, Ypsilanti, MI 48198
      View Details
    • $1,050,000
      0.25 Acres

      Ypsilanti Multifamily Investment Opportunity

      Two adjacent properties totaling ten rental units in historic district.
      100 S Washington St, Ypsilanti, MI 48197
      View Details
    • $425,000
      3,400 SF

      Multi-Family Property with Rental Appeal

      Well-maintained multi-family property with spacious layouts and strong rental appeal.
      430 N Adams St N, Ypsilanti, MI 48197
      View Details
    • $285,000
      Pending

      Income-Producing Duplex Near EMU

      Duplex with income potential near EMU, Downtown Ypsi, and Depot Town.
      514 Washtenaw Ave, Ypsilanti, MI 48197
      View Details
    • New
      $380,000
      0.18 Acres

      Ypsilanti Four-Unit Building

      Four-unit building in Ypsilanti's Depot Town area on corner lot.
      202 N River St, Ypsilanti, MI 48198
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex with potential for a third unit.
    Where is this duplex located?
    The property is located at 308 Ballard St Ypsilanti, MI.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: - Excellent investment property, with potential to create a 3rd unit in the basement (zoning allows).; - Enjoy the fully updated kitchen and baths.; - Desirable rental units feature dishwashers and newer appliances.
    (734) 637-3333
    Request Owner's contact information
    308 Ballard St Ypsilanti, MI 48197
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    308 Ballard St
    Ypsilanti, MI 48197
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    308 Ballard St Ypsilanti, MI 48197
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Susan Fecteau
    (734) 637-3333
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!