Updated 3-Unit
For Sale
$825,000
220 West Mosley Street, Ann Arbor, MI 48103
Three updated one-bedroom residences with basement laundry and off-street parking near Ann Arbor’s football stadium.
Property Size6,534 SF
Price / SF$126.26
Days on Market492
Property Features for 220 West Mosley Street
General Information
Standard status
Active
Size
6,534 SF
Property subtype
Multi Family / 2 to 4 Units
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$17,552
Amenities
Window Unit(s), Yes
Hot Water, Yes
Yes
Hot Water
Natural Gas
Window Unit(s)
In Basement
0.0
Paved
Partial
Vinyl Siding
Building Details
Year Built
1901
Units
3
Listing Agency:
Cornerstone Real Estate
(734) 649-0807
Listed By:
Donald Wurtzel · License #6501366612
(734) 649-0807
Source:
Compass
Added: Apr 28, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:28PM
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 Cornerstone Real Estate
Investment Insights
Based on property information with market context.
This 1901 triplex contains three updated units, each arranged with one bedroom and one bathroom. The property includes off-street parking, basement laundry facilities, natural gas service, hot water, and window unit cooling. Vinyl siding and paved exterior areas are also noted.
The property is located on West Mosley Street in Ann Arbor, near the football stadium. Off-street parking can accommodate between 18-20 cars for each home football game, providing an additional on-site use tied to event days.
The property is located on West Mosley Street in Ann Arbor, near the football stadium. Off-street parking can accommodate between 18-20 cars for each home football game, providing an additional on-site use tied to event days.
Key Highlights
- Three‑unit triplex with one‑bedroom, one‑bathroom layouts
- Units have been updated, with window unit cooling and hot water
- Basement includes on‑site laundry facilities
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
$74,340
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
9.01%
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%
$1,486,800
$1.5M
Cap Rate 7%
$1,062,000
$1.1M
Cap Rate 9%
$826,000
$826.0K
Market Conditions
NOI Build-Up for 6,534 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
$143.5K $21.96/SF
− Vacancy
−$8.3K −$1.27/SF
EGI
$135.2K $20.69/SF
− OpEx
−$60.8K −$9.31/SF
NOI
$74.3K $11.38/SF
Area
Ann Arbor, MI
Vacancy
5.80%
Lease Rate
$21.96 /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%
$1,486,800
Cap Rate 7%
$1,062,000
Cap Rate 9%
$826,000
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,675 @ 7.0% cap · market cap 10.26%
Second Best
Apartment 5plus
$1.06M
$929.3K – $1.24M
NOI $74,340 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,015 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
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 updated one-bedroom residences with basement laundry and off-street parking near Ann Arbor’s football stadium.
Where is this triplex located?
The property is located at 220 West Mosley Street Ann Arbor, MI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three‑unit triplex with one‑bedroom, one‑bathroom layouts; Units have been updated, with window unit cooling and hot water; Basement includes on‑site laundry facilities
