Duplex with Two-Car
2214 Florian St, Hamtramck, MI 48212
For Sale
New
$270,000
Upper and lower residences feature updated kitchens and baths, with laundry facilities in the basement.
Property Size1,792 SF
Days on Market4
Property Features for 2214 Florian St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
laundry in basement
Building Details
Building Size
Year Built
Buildings
Units
Listed By:
Frank J Tarala Jr
(586) 215-9933
Source:
Elliman
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 8:09AM
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 Frank J Tarala Jr
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Investment Insights
Based on property information with market context.
Built in 1913, this duplex is arranged as two residences, one on each floor. Both units have updated kitchens and bathrooms, maple cabinetry, appliances, and generous living rooms. Basement laundry serves the property, and the detached two-car garage has vinyl siding and a newer roof. Exterior improvements also include siding, roofing, and some newer concrete work.
The property offers access to shopping and I-75. Its walk score is 70, bike score is 50, and transit score is 40.
The property offers access to shopping and I-75. Its walk score is 70, bike score is 50, and transit score is 40.
Key Highlights
- Two units arranged on separate floors
- Updated kitchens and bathrooms with maple cabinets and appliances
- Basement laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,593
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,860
$351.9K
Cap Rate 7%
$251,329
$251.3K
Cap Rate 9%
$195,478
$195.5K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$26.9K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$25.1K $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 Rate 5%
$351,860
Cap Rate 7%
$251,329
Cap Rate 9%
$195,478
Alternative Uses
Best Use
Multifamily LT 5
$251.3K
$219.9K – $293.2K
NOI $17,593 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$230.8K
$201.9K – $269.3K
NOI $16,155 @ 7.0% cap · market cap 5.98%
Theoretical Best
Specialty Retail
$331.8K
$290.3K – $387.1K
NOI $23,224 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 48212, MI
43,192
Population
14,739
Households
2.9
Avg Household Size
29
Median Age
16%
College-Educated
68%
High-School Grad
5.3 sq mi
ZIP Area
8,149
Density / Sq Mi
$37,293
Median Household Income
$28,894
Median Earnings
$935
Median Rent
$98,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Wayne County, MI
Properties on Market for Duplexes in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower residences feature updated kitchens and baths, with laundry facilities in the basement.
Where is this duplex located?
The property is located at 2214 Florian St Hamtramck, MI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two units arranged on separate floors; Updated kitchens and bathrooms with maple cabinets and appliances; Basement laundry
