Updated Duplex with Attached
For Sale
$329,900
2341 McDowell Street, Ferndale, MI 48220
Multifamily, 2 Story, Ferndale, MI
Property Size1,251 SF
Lot Size0.33 Acres
Price / SF$263.71
Days on Market52
Property Features for 2341 McDowell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2
Pets allowed
Yes
Interior features
Cable Available
Exterior features
Fenced, Pool - Above Ground
Fencing
Fenced
Subdivision
First Add To East Urbanrest
Elementary school district
Hazel Park
Middle school district
Hazel Park
High school district
Hazel Park
Directions
Woodward Heights to McDowell
Standard status
Active
APN
2526307022
Size
1,251 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
T1N, R11E, SEC 26 FIRST ADD TO EAST URBANREST LOTS 13 TO 17 INCL, ALSO E 1/2 OF VAC ALLEY ADJ TO SAME BLK 12
Tax Annual Amount
13231
Legal Description
T1N, R11E, SEC 26 FIRST ADD TO EAST URBANREST LOTS 13 TO 17 INCL, ALSO E 1/2 OF VAC ALLEY ADJ TO SAME BLK 12
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
attached garage
brick oven/BBQ
deck
patios
putt-putt greens
play structure
small pool
privacy fenced backyard
Building Details
Year built
1937
Floors in Building
2
Number of units
2
Building materials
Stone, Vinyl
Roof type
Asphalt
Architectural style
Colonial, Bungalow
Buildings
1
Listing Agency:
Real Broker, LLC Birmingham
(248) 541-4900
Listed By:
Mike D Cottle
(248) 915-9151
Added: Sep 10
Changed: Oct 29
Last Checked: Oct 31 at 1:06PM
MLS# 20261072930
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,251-square-foot duplex in Ferndale is arranged as upper and lower units, with a full basement that includes a bathroom and family room. The property also features a 23-by-24-foot attached garage, forced-air heating, central air, public water, and an asphalt roof. Updates include the roof, both kitchens, all three bathrooms, windows, hardwood floors, and electrical service.
The 0.33-acre parcel measures 125 by 105 feet and is enclosed by a privacy fence. Outdoor improvements include a deck, two patios, an above-ground pool, brick oven and BBQ, putt-putt greens, and a play structure. The property is zoned Residential and was built in 1937 at 2341 McDowell Street in Ferndale, Michigan.
The 0.33-acre parcel measures 125 by 105 feet and is enclosed by a privacy fence. Outdoor improvements include a deck, two patios, an above-ground pool, brick oven and BBQ, putt-putt greens, and a play structure. The property is zoned Residential and was built in 1937 at 2341 McDowell Street in Ferndale, Michigan.
Key Highlights
- 1,251‑square‑foot up‑and‑down duplex with a full basement
- 125x105 lot totaling 0.33 acres; described as five 25x105 lots
- 23x24 attached garage with access to the fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,559
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,180
$331.2K
Cap Rate 7%
$236,557
$236.6K
Cap Rate 9%
$183,989
$184.0K
Market Conditions
NOI Build-Up for 1,251 SF
Gross rent
$24.8K $19.80/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$23.7K $18.91/SF
− OpEx
−$7.1K −$5.67/SF
NOI
$16.6K $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%
$331,180
Cap Rate 7%
$236,557
Cap Rate 9%
$183,989
Alternative Uses
Best Use
Multifamily LT 5
$236.6K
$207.0K – $276.0K
NOI $16,559 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$219.2K
$191.8K – $255.8K
NOI $15,345 @ 7.0% cap · market cap 4.65%
Theoretical Best
Specialty Retail
$269.8K
$236.1K – $314.8K
NOI $18,888 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down duplex with a full basement, fenced outdoor space, and updated kitchens, baths, windows, roof, and electrical systems.
Where is this duplex located?
The property is located at 2341 McDowell Street 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: 1,251‑square‑foot up‑and‑down duplex with a full basement; 125x105 lot totaling 0.33 acres; described as five 25x105 lots; 23x24 attached garage with access to the fenced backyard
