Mid-Century
1420 Pear St, Ann Arbor, MI 48105
For Sale
New
$800,000
Two separately leased homes offer in-unit laundry, individual climate control, and covered parking in Ann Arbor.
Property Size1,800 SF
Price / SF$444.44
Days on Market3
Property Features for 1420 Pear St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
ceiling fans
mini-splits for A/C
storage building
covered carport
backyard patio
Building Details
Year Built
Units
Construction
Listed By:
Maris Laporter
(734) 678-1889
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:20PM
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 Maris Laporter
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Investment Insights
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Built in 1952, this Ann Arbor duplex contains two 900-square-foot residences, each arranged with two bedrooms and one bathroom. The kitchens and baths have been updated, and each unit includes a dishwasher, disposal, in-unit laundry, ceiling fans, and mini-split air conditioning. The upper residence has exposed wood beams, while both living rooms feature broad window walls. A separate storage building, covered carport space for each unit, additional parking, and a backyard patio round out the property. The roof was replaced in 2020, and water heaters were installed in 2021.
The property is at 1420 Pear St, within walking and biking distance of the University of Michigan campuses, hospitals, downtown, Kerrytown, the Amtrak station, bus service, restaurants, shops, and riverfront recreation. WalkScore is 71, BikeScore is 86, and TransitScore is 72.
Unit 1 is leased through June 2027 and Unit 2 through June 2028. The Certificate of Compliance is valid through August 2030. Utilities are separately metered for tenants’ electric and cooking gas.
The property is at 1420 Pear St, within walking and biking distance of the University of Michigan campuses, hospitals, downtown, Kerrytown, the Amtrak station, bus service, restaurants, shops, and riverfront recreation. WalkScore is 71, BikeScore is 86, and TransitScore is 72.
Unit 1 is leased through June 2027 and Unit 2 through June 2028. The Certificate of Compliance is valid through August 2030. Utilities are separately metered for tenants’ electric and cooking gas.
Key Highlights
- Two 900‑square‑foot units, each with 2 bedrooms and 1 bathroom
- Both units include in‑unit laundry, dishwashers, disposals, and mini‑split A/C
- Roof replaced in 2020; water heaters installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,326
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,520
$466.5K
Cap Rate 7%
$333,229
$333.2K
Cap Rate 9%
$259,178
$259.2K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$35.6K $19.80/SF
− Vacancy
−$2.3K −$1.29/SF
EGI
$33.3K $18.51/SF
− OpEx
−$10.0K −$5.55/SF
NOI
$23.3K $12.96/SF
Area
Ann Arbor, MI
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,520
Cap Rate 7%
$333,229
Cap Rate 9%
$259,178
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$292.6K
$256.0K – $341.3K
NOI $20,479 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$397.5K
$347.9K – $463.8K
NOI $27,828 @ 7.0% cap · market cap 3.48%
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
620
Businesses Nearby
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Business Placement
Demographics for 48105, MI
38,883
Population
16,773
Households
2.3
Avg Household Size
30
Median Age
82%
College-Educated
98%
High-School Grad
49.5 sq mi
ZIP Area
786
Density / Sq Mi
$94,737
Median Household Income
$45,516
Median Earnings
$1,603
Median Rent
$485,600
Median Home Value
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Market
Properties on Market for Duplexes in Ann Arbor
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately leased homes offer in-unit laundry, individual climate control, and covered parking in Ann Arbor.
Where is this duplex located?
The property is located at 1420 Pear St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two 900‑square‑foot units, each with 2 bedrooms and 1 bathroom; Both units include in‑unit laundry, dishwashers, disposals, and mini‑split A/C; Roof replaced in 2020; water heaters installed in 2021
