Multifamily Property with Pole
New
For Sale
$399,900
Pending
2240 Scofield Carleton Rd, Carleton, MI 48117
Separate living areas have independent heating and cooling systems, with the option to return the home to single-family use.
Property Size2,193 SF
Lot Size11.00 Acres
Days on Market4
Property Features for 2240 Scofield Carleton Rd
General Information
Standard status
Pending
Size
2,193 SF
Lot size
11.00 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
agricultural, multi-family
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,274
Amenities
pole barn
whole-house generator
Building Details
Building Size
2,193 SF
Year Built
1990
Year Renovated
2017
Units
2
Listing Agency:
Berkshire Hathaway Hudkins Realtors
Listed By:
Pam Swiercz
(734) 636-4835
Source:
Elliman
Added: Nov 1
Last Checked: Nov 3 at 7:11AM
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 Berkshire Hathaway Hudkins Realtors
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Investment Insights
Based on property information with market context.
Set on nearly 11 acres, this multifamily property has two distinct living areas and can be configured again as a single-family residence. Separate furnaces and central air conditioning systems serve the living spaces. The property also includes a 40 x 60 pole barn and a whole-house generator. The roof, furnaces, air conditioning units, and generator were installed in 2017; city water serves the property.
Approximately 9 acres are farmed. The property has one driveway and one address, and is within the Airport School District. Shopping, restaurants, and major freeways are nearby.
Approximately 9 acres are farmed. The property has one driveway and one address, and is within the Airport School District. Shopping, restaurants, and major freeways are nearby.
Key Highlights
- Nearly 11 acres, with approximately 9 acres currently farmed
- Two separate living areas with two furnaces and two central air conditioning systems
- 40 x 60 pole barn
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,134
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,680
$362.7K
Cap Rate 7%
$259,057
$259.1K
Cap Rate 9%
$201,489
$201.5K
Market Conditions
NOI Build-Up for 2,193 SF
Gross rent
$35.0K $15.96/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$33.0K $15.03/SF
− OpEx
−$14.8K −$6.77/SF
NOI
$18.1K $8.27/SF
Area
Monroe County, MI
Vacancy
5.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,680
Cap Rate 7%
$259,057
Cap Rate 9%
$201,489
Alternative Uses
Best Use
Apartment 5plus
$259.1K
$226.7K – $302.2K
NOI $18,134 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,326 @ 7.0% cap · market cap 39.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 48117, MI
10,154
Population
4,316
Households
2.4
Avg Household Size
46
Median Age
14%
College-Educated
92%
High-School Grad
54.1 sq mi
ZIP Area
188
Density / Sq Mi
$76,600
Median Household Income
$52,338
Median Earnings
$1,081
Median Rent
$276,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate living areas have independent heating and cooling systems, with the option to return the home to single-family use.
Where is this multifamily property located?
The property is located at 2240 Scofield Carleton Rd Carleton, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Nearly 11 acres, with approximately 9 acres currently farmed; Two separate living areas with two furnaces and two central air conditioning systems; 40 x 60 pole barn
