Updated Duplex with Lower-Level
New
For Sale
$269,900
183 Robertson St, Mount Clemens, MI 48043
Two separate residences include kitchens, dining rooms, sunrooms, and private entrances.
Property Size2,565 SF
Days on Market4
Property Features for 183 Robertson St
General Information
Standard status
Active
Size
2,565 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,004
Building Details
Building Size
2,565 SF
Year Built
1926
Units
2
Listing Agency:
Sine & Monaghan, Realtors
Listed By:
Pamela Ceder · License #6506037166
(810) 278-0150
Source:
Elliman
Added: Sep 14
Last Checked: Sep 16 at 4:56PM
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 Sine & Monaghan, Realtors
Investment Insights
Based on property information with market context.
Built in 1926, this duplex contains two 1,250 sq. ft. residences with independent entrances. Each unit includes a full kitchen, formal dining room, living room, sunroom, two bedrooms, and one full bath. Updated kitchens and bathrooms, lighting, plumbing, and appliances bring refreshed finishes to both living areas.
The lower level includes a third unit currently used for storage, along with a mechanical and laundry room. The basement area could be renovated back into living space, subject to applicable requirements. Exterior features include a private-feeling outdoor area with a brick paver patio and walkway.
The property is located at 183 Robertson St in Mount Clemens, near the Clinton River and Downtown Mt. Clemens. Nearby amenities include parks, bike and walking trails, shopping, and dining. The property is identified as suitable for owner occupancy, long-term rental, or short-term rental use.
The lower level includes a third unit currently used for storage, along with a mechanical and laundry room. The basement area could be renovated back into living space, subject to applicable requirements. Exterior features include a private-feeling outdoor area with a brick paver patio and walkway.
The property is located at 183 Robertson St in Mount Clemens, near the Clinton River and Downtown Mt. Clemens. Nearby amenities include parks, bike and walking trails, shopping, and dining. The property is identified as suitable for owner occupancy, long-term rental, or short-term rental use.
Key Highlights
- Two 1,250 sq. ft. units, each with 2 bedrooms and 1 full bath
- Separate entrances, full kitchens, formal dining rooms, living rooms, and sunrooms
- Lower‑level third unit currently used for storage, plus mechanical and laundry room
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
$24,088
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
8.92%
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%
$481,760
$481.8K
Cap Rate 7%
$344,114
$344.1K
Cap Rate 9%
$267,644
$267.6K
Market Conditions
NOI Build-Up for 2,565 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
$47.1K $18.36/SF
− Vacancy
−$3.3K −$1.29/SF
EGI
$43.8K $17.07/SF
− OpEx
−$19.7K −$7.68/SF
NOI
$24.1K $9.39/SF
Area
Macomb County, MI
Vacancy
7.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$481,760
Cap Rate 7%
$344,114
Cap Rate 9%
$267,644
Alternative Uses
Best Use
Multifamily LT 5
$387.9K
$339.4K – $452.6K
NOI $27,153 @ 7.0% cap · market cap 10.06%
Second Best
Apartment 5plus
$344.1K
$301.1K – $401.5K
NOI $24,088 @ 7.0% cap · market cap 8.92%
Theoretical Best
Specialty Retail
$480.2K
$420.2K – $560.3K
NOI $33,615 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
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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 separate residences include kitchens, dining rooms, sunrooms, and private entrances.
Where is this duplex located?
The property is located at 183 Robertson St Mount Clemens, MI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two 1,250 sq. ft. units, each with 2 bedrooms and 1 full bath; Separate entrances, full kitchens, formal dining rooms, living rooms, and sunrooms; Lower‑level third unit currently used for storage, plus mechanical and laundry room
