Colonial Triplex with Off-Street
For Sale
$239,900
Pending
19 Washington Street, Mount Clemens, MI 48043
MULTI_FAMILY - Colonial - Mount Clemens, MI
Property Size2,208 SF
Lot Size0.13 Acres
Days on Market48
Property Features for 19 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Basement, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3
Parking features
Assigned
Patio and Porch features
Porch
Exterior features
Porch, Sidewalks, Street Lights
Appliances
Range/Oven, Refrigerator
Subdivision
Parrot and Sacketts Addn
Lot features
Subdivision
Elementary school district
Mt Clemens Community Schools
Middle school district
Mt Clemens Community Schools
High school district
Mt Clemens Community Schools
Standard status
Pending
APN
50-55-501-008-00
Size
2,208 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7492
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Architectural style
Colonial
Listing Agency:
RE/MAX First · RE/MAX International
(586) 792-8000
Listed By:
David Tuscany · License #193646
(586) 907-6125
Added: Jun 26
Changed: Aug 11
Last Checked: Aug 12 at 7:06AM
MLS# 50212907
Copyright © 2026 Multiple Listing Service MiRealSource. 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.
19 Washington Street in Mount Clemens offers a colonial-style triplex with all three units rented on leases. Recent improvements within the past year include a new high-efficiency furnace with central air, new vinyl windows, new water and sewer line to the street, plus electrical work and paint.
The property totals 2,208 square feet on a 0.13-acre lot and was built in 1940. Outside features include a porch, sidewalks, and street lights, along with plenty of off-street parking and assigned parking.
For showings, an acceptable letter of intent must be submitted prior to scheduling. See professional photos for inside views, and note the kitchens include appliances such as a range/oven and refrigerator.
The property totals 2,208 square feet on a 0.13-acre lot and was built in 1940. Outside features include a porch, sidewalks, and street lights, along with plenty of off-street parking and assigned parking.
For showings, an acceptable letter of intent must be submitted prior to scheduling. See professional photos for inside views, and note the kitchens include appliances such as a range/oven and refrigerator.
Key Highlights
- All three units are rented with leases
- Recent updates within one year: new high‑efficiency furnace with central air, new vinyl windows, new water and sewer line to the street
- 2,208 SF triplex on a 0.13‑acre lot
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
$20,736
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
8.64%
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%
$414,720
$414.7K
Cap Rate 7%
$296,229
$296.2K
Cap Rate 9%
$230,400
$230.4K
Market Conditions
NOI Build-Up for 2,208 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
$40.5K $18.36/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$37.7K $17.07/SF
− OpEx
−$17.0K −$7.68/SF
NOI
$20.7K $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%
$414,720
Cap Rate 7%
$296,229
Cap Rate 9%
$230,400
Alternative Uses
Best Use
Multifamily LT 5
$333.9K
$292.2K – $389.6K
NOI $23,374 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$296.2K
$259.2K – $345.6K
NOI $20,736 @ 7.0% cap · market cap 8.64%
Theoretical Best
Specialty Retail
$413.4K
$361.7K – $482.3K
NOI $28,936 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,241
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Colonial triplex features porch, forced-air heat, and all three units currently leased.
Where is this triplex located?
The property is located at 19 Washington Street Mount Clemens, MI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: All three units are rented with leases; Recent updates within one year: new high‑efficiency furnace with central air, new vinyl windows, new water and sewer line to the street; 2,208 SF triplex on a 0.13‑acre lot
