Duplex with Attached
For Sale
$329,900
2341 McDowell St, Ferndale, MI 48220
Up-and-down duplex with a finished basement, substantial fenced yard, and multiple outdoor amenities.
Property Size1,751 SF
Lot Size0.30 Acres
Days on Market51
Property Features for 2341 McDowell St
General Information
Standard status
Active
Size
1,751 SF
Lot size
0.30 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,231
Amenities
brick oven/BBQ
deck
2 patios
putt-putt greens
play structure
small pool
privacy fenced backyard
Building Details
Building Size
1,751 SF
Year Built
1937
Units
2
Tenancy
Multi
Listed By:
Robert Visingardi · License #6501279563
(248) 935-8201
Source:
Elliman
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 30 at 4:33PM
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 Robert Visingardi
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Investment Insights
Based on property information with market context.
Built in 1937, this up-and-down duplex includes two kitchens, three bathrooms, and a full basement with a family room and bathroom. The attached 23-by-24-foot garage provides direct access to the 125-foot-wide backyard, which is enclosed by a privacy fence and includes a brick oven and BBQ, deck, two patios, putt-putt greens, play equipment, and a small pool.
The property occupies a 125-by-105-foot lot assembled from five 25-by-105-foot lots at 2341 McDowell St in Ferndale. Updates include the roof, kitchens, bathrooms, windows, hardwood flooring, and electrical systems. The address has a Walk Score of 83 and a Bike Score of 58.
The property occupies a 125-by-105-foot lot assembled from five 25-by-105-foot lots at 2341 McDowell St in Ferndale. Updates include the roof, kitchens, bathrooms, windows, hardwood flooring, and electrical systems. The address has a Walk Score of 83 and a Bike Score of 58.
Key Highlights
- Up‑and‑down duplex configuration with two kitchens and 3 baths
- Full basement includes a family room and full bath
- Attached 23x24 garage with access to the backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,177
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,540
$463.5K
Cap Rate 7%
$331,100
$331.1K
Cap Rate 9%
$257,522
$257.5K
Market Conditions
NOI Build-Up for 1,751 SF
Gross rent
$34.7K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$33.1K $18.91/SF
− OpEx
−$9.9K −$5.67/SF
NOI
$23.2K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,540
Cap Rate 7%
$331,100
Cap Rate 9%
$257,522
Alternative Uses
Best Use
Multifamily LT 5
$331.1K
$289.7K – $386.3K
NOI $23,177 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$306.8K
$268.5K – $358.0K
NOI $21,478 @ 7.0% cap · market cap 6.51%
Theoretical Best
Specialty Retail
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
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Business Placement
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down duplex with a finished basement, substantial fenced yard, and multiple outdoor amenities.
Where is this duplex located?
The property is located at 2341 McDowell St Ferndale, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Up‑and‑down duplex configuration with two kitchens and 3 baths; Full basement includes a family room and full bath; Attached 23x24 garage with access to the backyard
