Two-Unit Duplex with
New
For Sale
$330,000
2339 Faber St, Hamtramck, MI 48212
Two-level residential income property with spacious bedroom layouts and convenient access to everyday amenities.
Property Size2,200 SF
Days on Market4
Property Features for 2339 Faber St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,019
Building Details
Building Size
2,200 SF
Year Built
1911
Units
2
Listing Agency:
(313) 240-1331
Listed By:
Mohammed Jihan
(313) 240-1331
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 10:42AM
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 Mohammed Jihan
Investment Insights
Based on property information with market context.
This duplex, built in 1911, contains two units arranged across two floors. Each floor provides four bedrooms, one full bathroom, and one half bathroom, creating a consistent layout for both units. A basement adds storage and supplemental space.
The property is located at 2339 Faber St in Hamtramck, within walking distance of Al-Haramain International Food Market, grocery stores, shops, restaurants, mosques, schools, and other daily conveniences. WalkScore is 83, indicating a very walkable setting; BikeScore is 55, and TransitScore is 44.
The property is located at 2339 Faber St in Hamtramck, within walking distance of Al-Haramain International Food Market, grocery stores, shops, restaurants, mosques, schools, and other daily conveniences. WalkScore is 83, indicating a very walkable setting; BikeScore is 55, and TransitScore is 44.
Key Highlights
- Two‑unit duplex built in 1911
- Each floor includes four bedrooms, one full bathroom, and one half bathroom
- Basement provides additional space and storage
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
$21,599
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
6.55%
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%
$431,980
$432.0K
Cap Rate 7%
$308,557
$308.6K
Cap Rate 9%
$239,989
$240.0K
Market Conditions
NOI Build-Up for 2,200 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
$33.0K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$30.9K $14.03/SF
− OpEx
−$9.3K −$4.21/SF
NOI
$21.6K $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%
$431,980
Cap Rate 7%
$308,557
Cap Rate 9%
$239,989
Alternative Uses
Best Use
Multifamily LT 5
$308.6K
$270.0K – $360.0K
NOI $21,599 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$283.3K
$247.9K – $330.6K
NOI $19,833 @ 7.0% cap · market cap 6.01%
Theoretical Best
Specialty Retail
$407.3K
$356.4K – $475.2K
NOI $28,512 @ 7.0% cap · market cap 8.64%
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
690
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with spacious bedroom layouts and convenient access to everyday amenities.
Where is this duplex located?
The property is located at 2339 Faber St Hamtramck, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1911; Each floor includes four bedrooms, one full bathroom, and one half bathroom; Basement provides additional space and storage
