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    Two-Unit Income Duplex Title is generated by Realmo AI

    131 E Cambourne St, Ferndale, MI 48220

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    For Sale
    $350,000

    Well-maintained duplex with independent two-unit setups, updated HVAC, and separate in-unit laundry for practical income potential.

    Type:Investment
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 3:27 am

    Property Features for 131 E Cambourne St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1922

    We can help!

    Listing Contact
    Jim Shaffer
    Jim Shaffer

    Listing agent Jim Shaffer License #301702

    Listing office JSA Realtors and Associates

    Listing date Jun 3, 2026

    Source Elliman

    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 JSA Realtors and Associates

    HighLights

    • Well‑maintained duplex built in 1922 with two independently set up income units
    • Lower unit features 3 bedrooms and 1 bathroom with original Ferndale charm and trim work
    • Upper unit offers 2 bedrooms and 1 bathroom with a bright, airy layout
    • Updates include new HVAC and air conditioning units
    • Deck and stairway to the upper unit fully replaced with maintenance‑free Trex decking
    • Separate laundry facilities for each unit

    Overview

    This turn-key two-unit duplex is laid out for independent living, with separate lower and upper income units. The lower unit offers 3 bedrooms and 1 bathroom, with interior features described as original Ferndale charm and attractive trim work. The upper unit provides a bright 2-bedroom, 1-bathroom layout. Both units include separate laundry facilities, a tenant-friendly setup that supports day-to-day convenience.

    Recent major improvements include new HVAC and air conditioning units. Exterior access to the upper level has been refreshed with a completely replaced deck and stairway, built using premium, maintenance-free Trex decking. The property is positioned in Ferndale and is described as being just minutes from downtown dining, shopping, and nightlife, with easy access to I-75 and M-102. WalkScore and bikeScore are listed as 76 (Very Walkable) and 80 (Very Bikeable).

    For buyers, this configuration can fit an investor seeking a streamlined, two-unit asset with clear unit separation, or an owner-occupant looking to house-hack with the prospect of tenant-supported housing costs. The combination of independent setups, separate laundry, and completed HVAC and exterior upgrades supports a practical, low-maintenance ownership experience.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1356011
    Latitude
    42.4636791

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with independent two-unit setups, updated HVAC, and separate in-unit laundry for practical income potential.
    Where is this duplex located?
    The property is located at 131 E Cambourne St Ferndale, MI.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Well‑maintained duplex built in 1922 with two independently set up income units; Lower unit features 3 bedrooms and 1 bathroom with original Ferndale charm and trim work; Upper unit offers 2 bedrooms and 1 bathroom with a bright, airy layout
    (248) 834-3030
    We can help!
    Listing Contact
    Jim Shaffer
    Jim Shaffer
    Real Estate License ID: 301702
    Learn More
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    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.

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    131 E Cambourne St, Ferndale, MI 48220
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