1624 Michigan Avenue Maumee, OH 43537
23-unit multifamily property with stable rental income in Maumee, Ohio.
- Added:
- May 13, 2026
- Days on Market:
- 63
- Last Refresh:
- Jun 28 at 1:07 am
Property Features for 1624 Michigan Avenue
General Information
- Standard status
- Active
- Size
- 16,482 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing office Danberry Realtors
Listing date May 13, 2026
Source Crexi
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 Danberry Realtors
Investment Insights
Based on property information with market context.
Key Highlights
- Stable rental income with utility bill‑back programs in place.
- Separately metered gas forced air heating and central air conditioning in each unit.
- Washer/dryer hookups in each unit (some with appliances provided).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $227.5k | $13.80 |
| − Vacancy | −$16.6k | −$1.01 |
| EGI | $210.8k | $12.79 |
| − OpEx | −$94.9k | −$5.76 |
| NOI | $116.0k | $7.04 |
