Duplex with Remodeled
New
For Sale
$116,000
1636 Peters Street, Monroe, MI 48161
Both residences are occupied, with one tenancy secured by a signed lease and the other on a month-to-month basis.
Property Size1,092 SF
Days on Market5
Property Features for 1636 Peters Street
General Information
Standard status
Active
Size
1,092 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,039
Building Details
Building Size
1,092 SF
Year Built
1942
Listing Agency:
Real Estate One Monroe
Listed By:
Deborah Lambrix
(734) 915-6532
Source:
Cen21allstar
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 2:59PM
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 Real Estate One Monroe
Investment Insights
Based on property information with market context.
Built in 1942, this two-unit property has updated flooring, newer windows approximately 8 years old, and new exterior doors. One residence includes a remodeled full kitchen. The furnaces are approximately 6 and 12 years old, and the hot water heaters are approximately 6 and 8 years old.
Both units are occupied. One resident has lived in the property for 14 years and has a signed lease; the other unit is rented month-to-month. The property is located on Peters Street in Monroe, Michigan.
Both units are occupied. One resident has lived in the property for 14 years and has a signed lease; the other unit is rented month-to-month. The property is located on Peters Street in Monroe, Michigan.
Key Highlights
- Two‑unit duplex with both residences occupied
- One resident has a 14‑year tenancy and signed lease; the other unit is month‑to‑month
- One unit features a remodeled full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,692
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$193,840
$193.8K
Cap Rate 7%
$138,457
$138.5K
Cap Rate 9%
$107,689
$107.7K
Market Conditions
NOI Build-Up for 1,092 SF
Gross rent
$14.8K $13.56/SF
− Vacancy
−$962 −$0.88/SF
EGI
$13.8K $12.68/SF
− OpEx
−$4.2K −$3.80/SF
NOI
$9.7K $8.88/SF
Area
Monroe County, MI
Vacancy
6.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$193,840
Cap Rate 7%
$138,457
Cap Rate 9%
$107,689
Alternative Uses
Best Use
Multifamily LT 5
$138.5K
$121.2K – $161.5K
NOI $9,692 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$129.0K
$112.9K – $150.5K
NOI $9,030 @ 7.0% cap · market cap 7.78%
Theoretical Best
Warehouse
$1.13M
$985.5K – $1.31M
NOI $78,838 @ 7.0% cap · market cap 67.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 48161, MI
26,571
Population
12,015
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
44.8 sq mi
ZIP Area
593
Density / Sq Mi
$65,517
Median Household Income
$40,184
Median Earnings
$955
Median Rent
$173,200
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 - Both residences are occupied, with one tenancy secured by a signed lease and the other on a month-to-month basis.
Where is this duplex located?
The property is located at 1636 Peters Street Monroe, MI.
What is the asking price?
The asking price for this property is $116,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences occupied; One resident has a 14‑year tenancy and signed lease; the other unit is month‑to‑month; One unit features a remodeled full kitchen
