Updated Brick
New
For Sale
$220,000
1906/1912 Hamilton Ave, Lincoln Park, MI 48146
Each residence includes a basement, with a detached one-car garage serving the property.
Property Size1,376 SF
Days on Market2
Property Features for 1906/1912 Hamilton Ave
General Information
Standard status
Active
Size
1,376 SF
Total Parking Spaces
1
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,762
Building Details
Building Size
1,376 SF
Year Built
1957
Buildings
1
Units
2
Construction
brick
Listing Agency:
River Oaks Realty
Listed By:
Nicole Porter · License #6501295470
(734) 552-9257
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:22PM
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 River Oaks Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1957 brick duplex contains two units, each with an updated kitchen and bathroom. Kitchen features include granite counters, new sinks and faucets, exhaust fans, updated lighting, and some new appliances. Both residences also have updated flooring, fresh paint, carpeting, and their own basement.
A detached one-car garage with a new garage door is included. The property is located near restaurants and shopping. Walk Score is 28, Bike Score is 37, and Transit Score is 32.
A detached one-car garage with a new garage door is included. The property is located near restaurants and shopping. Walk Score is 28, Bike Score is 37, and Transit Score is 32.
Key Highlights
- Two‑unit brick duplex built in 1957
- Updated kitchens in both units, with granite counters and some new appliances
- Each unit has its own basement and an updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,509
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,180
$270.2K
Cap Rate 7%
$192,986
$193.0K
Cap Rate 9%
$150,100
$150.1K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$20.6K $15.00/SF
− Vacancy
−$1.3K −$0.98/SF
EGI
$19.3K $14.03/SF
− OpEx
−$5.8K −$4.21/SF
NOI
$13.5K $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%
$270,180
Cap Rate 7%
$192,986
Cap Rate 9%
$150,100
Alternative Uses
Best Use
Multifamily LT 5
$193.0K
$168.9K – $225.2K
NOI $13,509 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$177.2K
$155.1K – $206.8K
NOI $12,405 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$254.8K
$222.9K – $297.2K
NOI $17,833 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 48146, MI
40,245
Population
15,874
Households
2.5
Avg Household Size
37
Median Age
11%
College-Educated
81%
High-School Grad
5.8 sq mi
ZIP Area
6,939
Density / Sq Mi
$57,183
Median Household Income
$36,886
Median Earnings
$972
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a basement, with a detached one-car garage serving the property.
Where is this duplex located?
The property is located at 1906/1912 Hamilton Ave Lincoln Park, MI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1957; Updated kitchens in both units, with granite counters and some new appliances; Each unit has its own basement and an updated bathroom
