Renovated Duplex with Private
New
For Sale
$349,900
14926 E 10 Mile Road, Warren, MI 48089
Multifamily, 2 Story, Warren, MI
Property Size2,106 SF
Lot Size0.21 Acres
Price / SF$166.14
Days on Market4
Property Features for 14926 E 10 Mile Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Basement, Bedroom 3, Bathroom 2
Parking
10
Pets allowed
Dogs OK
Interior features
Smoke Alarm, Carbon Monoxide Alarm(s), Circuit Breakers, Laundry Facility
Exterior features
Lighting, Private Entry
Subdivision
The Lincoln Sub
Elementary school district
Eastpointe Community Schools
Middle school district
Eastpointe Community Schools
High school district
Eastpointe Community Schools
Directions
Go south on Hayes, turn right on 10 Mile Rd. Property is on south side of 10 Mile Rd.
Standard status
Active
APN
1325226014
Size
2,106 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
THE LINCOLN SUBDIVISION LOT 25 L.3 P.187
Tax Annual Amount
4434
Legal Description
THE LINCOLN SUBDIVISION LOT 25 L.3 P.187
Utilities
Heating system
Baseboard, Forced Air
Cooling system
Ceiling Fan(s), Separate Meters, Central Air
Water source
Public
Amenities
in-unit laundry
outdoor patio
Building Details
Year built
1942
Floors in Building
2
Number of units
2
Building materials
Vinyl
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Lakeside · Keller Williams Realty
(586) 532-0500
Listed By:
Matthew Cervone
(586) 242-8054
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 18 at 2:06AM
MLS# 20261074640
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.
Investment Insights
Based on property information with market context.
This 2,106-square-foot duplex in Warren, Michigan, includes two independent residential units with separate entrances, driveways, kitchens, bathrooms, laundry areas, and electric meters. The lower unit is approximately 1,300 square feet with three bedrooms, one bathroom, a formal dining area, and a spacious living room. The upper unit is approximately 800 square feet with two bedrooms, one bathroom, and a walk-in closet in the primary bedroom.
Renovations include kitchens, bathrooms, plumbing, electrical systems, and flooring updated in 2021, along with a new furnace and AC and new siding. The roof, outdoor patio, and stairs were completed in 2023. The property has operated as a short-term rental since 2022 and can also support long-term rental use or owner occupancy. Furnishings are negotiable.
Renovations include kitchens, bathrooms, plumbing, electrical systems, and flooring updated in 2021, along with a new furnace and AC and new siding. The roof, outdoor patio, and stairs were completed in 2023. The property has operated as a short-term rental since 2022 and can also support long-term rental use or owner occupancy. Furnishings are negotiable.
Key Highlights
- 2,106‑square‑foot duplex on a 0.21‑acre lot
- Lower unit is approximately 1,300 square feet with 3 bedrooms and 1 bathroom
- Upper unit is approximately 800 square feet with 2 bedrooms and 1 bathroom
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
$20,676
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
5.91%
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%
$413,520
$413.5K
Cap Rate 7%
$295,371
$295.4K
Cap Rate 9%
$229,733
$229.7K
Market Conditions
NOI Build-Up for 2,106 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
$31.6K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$29.5K $14.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$20.7K $9.82/SF
Area
Warren, 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%
$413,520
Cap Rate 7%
$295,371
Cap Rate 9%
$229,733
Alternative Uses
Best Use
Multifamily LT 5
$295.4K
$258.5K – $344.6K
NOI $20,676 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$275.0K
$240.6K – $320.8K
NOI $19,247 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$464.6K
$406.5K – $542.0K
NOI $32,521 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 48089, MI
32,012
Population
13,597
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
83%
High-School Grad
8.0 sq mi
ZIP Area
4,002
Density / Sq Mi
$53,076
Median Household Income
$35,786
Median Earnings
$1,187
Median Rent
$117,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer private laundry, kitchens, bathrooms, and individual driveways.
Where is this duplex located?
The property is located at 14926 E 10 Mile Road Warren, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,106‑square‑foot duplex on a 0.21‑acre lot; Lower unit is approximately 1,300 square feet with 3 bedrooms and 1 bathroom; Upper unit is approximately 800 square feet with 2 bedrooms and 1 bathroom
