Two-Unit Duplex with Private
139 Edgewood Place, Ferndale, MI 48220
For Sale
New
$240,000
Multifamily, 2 Story, Ferndale, MI
Property Size1,100 SF
Lot Size0.09 Acres
Price / SF$218.18
Days on Market2
Property Features for 139 Edgewood Place
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Interior features
Exterior features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Amenities
laundry facilities
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
Keller Williams Somerset · Keller Williams Realty
(248) 649-7200
Listed By:
James T Silver · License #6502374648
(248) 530-7292
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 7 at 9:06AM
MLS# 20261089094
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 139 Edgewood Place, this Ferndale duplex contains two residences: a lower unit with three bedrooms and one full bath, and an upper unit with one bedroom and one full bath. The property totals 1,100 square feet on a 0.09-acre lot. Private entries serve the units, and the shared basement includes laundry and storage. Appliances are included. The existing staircase is in place for a single-family conversion, which would require removing the partition between the units.
Built in 1922, the property has newer windows and plumbing and electrical improvements. The furnace is less than one year old, with City of Ferndale permits. New carpet has been installed in the lower unit’s bedrooms. The property is west of Woodward Avenue and near Ferndale restaurants, shops, and entertainment.
Built in 1922, the property has newer windows and plumbing and electrical improvements. The furnace is less than one year old, with City of Ferndale permits. New carpet has been installed in the lower unit’s bedrooms. The property is west of Woodward Avenue and near Ferndale restaurants, shops, and entertainment.
Key Highlights
- Two‑unit layout with three‑bedroom lower residence and one‑bedroom upper residence
- 1,100 square feet on a 0.09‑acre lot
- Shared basement with laundry facilities and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,560
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,200
$291.2K
Cap Rate 7%
$208,000
$208.0K
Cap Rate 9%
$161,778
$161.8K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$21.8K $19.80/SF
− Vacancy
−$980 −$0.89/SF
EGI
$20.8K $18.91/SF
− OpEx
−$6.2K −$5.67/SF
NOI
$14.6K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,200
Cap Rate 7%
$208,000
Cap Rate 9%
$161,778
Alternative Uses
Best Use
Multifamily LT 5
$208.0K
$182.0K – $242.7K
NOI $14,560 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$192.8K
$168.7K – $224.9K
NOI $13,493 @ 7.0% cap · market cap 5.62%
Theoretical Best
Specialty Retail
$237.3K
$207.6K – $276.8K
NOI $16,608 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
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Business Placement
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Oakland County, MI
Properties on Market for Duplexes in Oakland County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The lower residence has three bedrooms, while the upper residence provides a one-bedroom layout.
Where is this duplex located?
The property is located at 139 Edgewood Place Ferndale, MI.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit layout with three‑bedroom lower residence and one‑bedroom upper residence; 1,100 square feet on a 0.09‑acre lot; Shared basement with laundry facilities and storage
