Updated Triplex with Private
New
For Sale
$509,900
171 DAVIS Street, Wyandotte, MI 48192
Multifamily, 3 Story, Wyandotte, MI
Property Size2,832 SF
Lot Size0.19 Acres
Price / SF$180.05
Days on Market4
Property Features for 171 DAVIS Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 2, Basement, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3
Parking
3
Pets allowed
Yes
Interior features
Circuit Breakers, Laundry Facility
Exterior features
Chimney Cap(s), Lighting
Elementary school district
Wyandotte
Middle school district
Wyandotte
High school district
Wyandotte
Directions
Biddle to Davis.
Subdivision
Wyandotte
Standard status
Active
APN
57007110456000
Size
2,832 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
16244 LOT 456 ASSESSOR'S WYANDOTTE PLAT NO. 13 T3S R11E L71 P25 WCR
Tax Annual Amount
7104
Legal Description
16244 LOT 456 ASSESSOR'S WYANDOTTE PLAT NO. 13 T3S R11E L71 P25 WCR
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
private outdoor deck
Building Details
Year built
1880
Floors in Building
3
Number of units
3
Building materials
Vinyl
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
New Michigan Realty, LLC
Listed By:
Michael C Seifert
(844) 639-6424
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 23 at 10:06AM
MLS# 20261085231
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.
This 2,832-square-foot, three-unit property sits on a 0.19-acre lot and was built in 1880. Each apartment has its own furnace, central A/C, circuit breaker panel, electric water heater, and private laundry. The units also include private outdoor decks. Updates include energy-efficient windows, vinyl flooring, recessed lighting, refreshed kitchens and bathrooms, and range hoods vented outdoors. The property has a Certificate of Occupancy from the City of Wyandotte and is registered as a rental.
All three units are leased. Separate landlord electric and gas meters serve the building, and assigned spaces are marked on the rear parking pad. The property is zoned Multi-Family.
All three units are leased. Separate landlord electric and gas meters serve the building, and assigned spaces are marked on the rear parking pad. The property is zoned Multi-Family.
Key Highlights
- Three leased units in a 2,832‑square‑foot triplex
- 0.19‑acre lot; built in 1880
- Individual furnace, central A/C, breaker panel, and electric water heater in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,803
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,060
$556.1K
Cap Rate 7%
$397,186
$397.2K
Cap Rate 9%
$308,922
$308.9K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$42.5K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$39.7K $14.03/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$27.8K $9.82/SF
Area
Wayne County, 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 Rate 5%
$556,060
Cap Rate 7%
$397,186
Cap Rate 9%
$308,922
Alternative Uses
Best Use
Multifamily LT 5
$397.2K
$347.5K – $463.4K
NOI $27,803 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$364.7K
$319.1K – $425.5K
NOI $25,530 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$524.3K
$458.8K – $611.7K
NOI $36,703 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments have separate utilities, in-unit laundry, and assigned parking on a rear pad.
Where is this triplex located?
The property is located at 171 DAVIS Street Wyandotte, MI.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Three leased units in a 2,832‑square‑foot triplex; 0.19‑acre lot; built in 1880; Individual furnace, central A/C, breaker panel, and electric water heater in each apartment
