Two-Family Residential
For Sale
$310,000
3135 Belmont St, Hamtramck, MI 48212
Two-family home offered for sale in Hamtramck, positioned for easy access to shopping, dining, schools, parks, and major roadways.
Property Size2,130 SF
Days on Market32
Property Features for 3135 Belmont St
General Information
Standard status
Active
Size
2,130 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,693
Building Details
Building Size
2,130 SF
Year Built
1920
Units
2
Listing Agency:
Wasim International Realty
(313) 871-2030
Listed By:
Hamidur Rashid · License #6501405501
(313) 871-2030
Source:
Elliman
Added: Jul 24
Changed: Aug 21
Last Checked: Aug 24 at 8:56AM
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 Wasim International Realty
Investment Insights
Based on property information with market context.
This two-family residential property is offered for sale in the City of Hamtramck. The home is presented as an investment opportunity or an owner-occupant option, and it is described as well located for daily convenience.
The property is marketed as being close to shopping, restaurants, schools, parks, and major roadways. WalkScore is listed as 83 (very walkable), BikeScore as 55 (bikeable), and TransitScore as 44 (some transit).
For showing arrangements, appointments are scheduled Monday, Tuesday, and Wednesday from 4:00 PM to 8:30 PM, and Thursday and Friday from 11:00 AM to 8:00 PM.
The property is marketed as being close to shopping, restaurants, schools, parks, and major roadways. WalkScore is listed as 83 (very walkable), BikeScore as 55 (bikeable), and TransitScore as 44 (some transit).
For showing arrangements, appointments are scheduled Monday, Tuesday, and Wednesday from 4:00 PM to 8:30 PM, and Thursday and Friday from 11:00 AM to 8:00 PM.
Key Highlights
- 2‑family home in Hamtramck built in 1920
- WalkScore of 83 (very walkable)
- BikeScore of 55 (bikeable)
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
$20,911
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
6.75%
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%
$418,220
$418.2K
Cap Rate 7%
$298,729
$298.7K
Cap Rate 9%
$232,344
$232.3K
Market Conditions
NOI Build-Up for 2,130 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
$32.0K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$29.9K $14.03/SF
− OpEx
−$9.0K −$4.21/SF
NOI
$20.9K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /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%
$418,220
Cap Rate 7%
$298,729
Cap Rate 9%
$232,344
Alternative Uses
Best Use
Multifamily LT 5
$298.7K
$261.4K – $348.5K
NOI $20,911 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,202 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$394.4K
$345.1K – $460.1K
NOI $27,605 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,377
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?
Duplex - Two-family home offered for sale in Hamtramck, positioned for easy access to shopping, dining, schools, parks, and major roadways.
Where is this duplex located?
The property is located at 3135 Belmont St Hamtramck, MI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2‑family home in Hamtramck built in 1920; WalkScore of 83 (very walkable); BikeScore of 55 (bikeable)
