Duplex with Updated
New
For Sale
$379,900
2103 Canterbury Street, Dearborn, MI 48120
Two three-bedroom apartments have separate forced-air HVAC systems and distinct interior updates completed in 2023.
Property Size2,436 SF
Lot Size0.18 Acres
Price / SF$155.95
Days on Market5
Property Features for 2103 Canterbury Street
General Information
Standard status
Active
Size
2,436 SF
Lot size
0.18 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Legacy
(313) 752-0000
Listed By:
Kalid Shami · License #433447
(313) 627-5467
Source:
Blueowlprop
Added: Oct 2
Changed: Oct 5
Last Checked: Oct 5 at 6:28PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This all-brick duplex contains two apartments, each with three bedrooms and one full bathroom. Both units have their own forced-air HVAC system. In 2023, the first-floor apartment received new flooring, a kitchen and a bathroom; the upper apartment received new flooring and a kitchen. A 1,218-square-foot basement offers additional storage.
The property occupies a 7,841-square-foot lot with a yard and room for parking. It is in Dearborn, near I-94, shopping and dining.
The property occupies a 7,841-square-foot lot with a yard and room for parking. It is in Dearborn, near I-94, shopping and dining.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bath
- First‑floor unit updated in 2023 with new flooring, kitchen and bathroom
- Second‑floor unit received new flooring and a kitchen in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,915
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,300
$478.3K
Cap Rate 7%
$341,643
$341.6K
Cap Rate 9%
$265,722
$265.7K
Market Conditions
NOI Build-Up for 2,436 SF
Gross rent
$36.5K $15.00/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$34.2K $14.03/SF
− OpEx
−$10.2K −$4.21/SF
NOI
$23.9K $9.82/SF
Area
Dearborn, 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%
$478,300
Cap Rate 7%
$341,643
Cap Rate 9%
$265,722
Alternative Uses
Best Use
Multifamily LT 5
$341.6K
$298.9K – $398.6K
NOI $23,915 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$312.4K
$273.3K – $364.5K
NOI $21,867 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$537.4K
$470.2K – $627.0K
NOI $37,617 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 48120, MI
8,338
Population
2,910
Households
2.9
Avg Household Size
29
Median Age
37%
College-Educated
76%
High-School Grad
4.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$66,667
Median Household Income
$48,170
Median Earnings
$1,407
Median Rent
$236,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments have separate forced-air HVAC systems and distinct interior updates completed in 2023.
Where is this duplex located?
The property is located at 2103 Canterbury Street Dearborn, MI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bath; First‑floor unit updated in 2023 with new flooring, kitchen and bathroom; Second‑floor unit received new flooring and a kitchen in 2023
