Renovated Two-Unit
For Sale
$210,000
2084 MARKESE Avenue, Lincoln Park, MI 48146
Multifamily, 2 Story, Lincoln Park, MI
Property Size1,794 SF
Lot Size0.27 Acres
Price / SF$117.06
Days on Market47
Property Features for 2084 MARKESE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1
Parking
2
Subdivision
LINCOLNSHIRE SUB NO 3-LINCOLN PARK
Elementary school district
Lincoln Park
Middle school district
Lincoln Park
High school district
Lincoln Park
Directions
Between Park and Rosedale
Standard status
Active
APN
45010071415302
Size
1,794 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
GN1415B 1416 1417 ELY 23 FT OF LOT 1415 ALSO LOTS 1416 AND 1417 ALSO S 1/2 OF ADJ VAC ALLEY LINCOLNSHIRE NO. 3 SUB PC 48,86,95 L49 P86 WCR
Tax Annual Amount
6851
Legal Description
GN1415B 1416 1417 ELY 23 FT OF LOT 1415 ALSO LOTS 1416 AND 1417 ALSO S 1/2 OF ADJ VAC ALLEY LINCOLNSHIRE NO. 3 SUB PC 48,86,95 L49 P86 WCR
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Building materials
Brick, Vinyl
Architectural style
Colonial
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
Jason Caperton · License #6501389457
(313) 740-2111
Added: Jul 16
Changed: Aug 25
Last Checked: Aug 31 at 8:06AM
MLS# 20261055150
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.
Investment Insights
Based on property information with market context.
This 1,794-square-foot duplex contains two two-bedroom units within a 1928 Colonial-style building. Interior improvements include refinished hardwood flooring, LVT flooring, updated kitchens and bathrooms, and new A/C. Each unit is configured for two bedrooms, while the basement includes a half bath and two additional rooms.
The 0.27-acre property at 2084 Markese Avenue in Lincoln Park, Michigan, has brick and vinyl construction, forced-air heating, and public water service. Multi-Family zoning supports the existing duplex configuration. A basement egress window could enable the addition of a lower rentable unit, subject to applicable requirements.
The 0.27-acre property at 2084 Markese Avenue in Lincoln Park, Michigan, has brick and vinyl construction, forced-air heating, and public water service. Multi-Family zoning supports the existing duplex configuration. A basement egress window could enable the addition of a lower rentable unit, subject to applicable requirements.
Key Highlights
- Two two‑bedroom units in a 1,794‑square‑foot duplex
- 0.27‑acre property at 2084 Markese Avenue, Lincoln Park, MI 48146
- Updated kitchens and bathrooms in both units
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
$17,613
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
8.39%
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%
$352,260
$352.3K
Cap Rate 7%
$251,614
$251.6K
Cap Rate 9%
$195,700
$195.7K
Market Conditions
NOI Build-Up for 1,794 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
$26.9K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$25.2K $14.03/SF
− OpEx
−$7.5K −$4.21/SF
NOI
$17.6K $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 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%
$352,260
Cap Rate 7%
$251,614
Cap Rate 9%
$195,700
Alternative Uses
Best Use
Multifamily LT 5
$251.6K
$220.2K – $293.6K
NOI $17,613 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$231.0K
$202.2K – $269.6K
NOI $16,173 @ 7.0% cap · market cap 7.70%
Theoretical Best
Specialty Retail
$332.1K
$290.6K – $387.5K
NOI $23,250 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
438
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units feature updated kitchens, baths, flooring, and new A/C.
Where is this duplex located?
The property is located at 2084 MARKESE Avenue Lincoln Park, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two two‑bedroom units in a 1,794‑square‑foot duplex; 0.27‑acre property at 2084 Markese Avenue, Lincoln Park, MI 48146; Updated kitchens and bathrooms in both units
