Brick Quadplex with Separate
For Sale
$349,900
2441 Holbrook Street, Hamtramck, MI 48212
Multifamily, 2 Story, Hamtramck, MI
Property Size3,036 SF
Lot Size0.08 Acres
Price / SF$115.25
Days on Market93
Property Features for 2441 Holbrook Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 7, Bedroom 6, Basement, Bedroom 1, Bathroom 4, Bedroom 5, Bathroom 1
Pets allowed
Call
Exterior features
Private Entry, Fenced
Fencing
Fenced
Subdivision
Whitney Blk 1
Elementary school district
Hamtramck
Middle school district
Hamtramck
High school district
Hamtramck
Directions
I-75 to Holbrook St East to Property.
Standard status
Active
APN
41003010111000
Size
3,036 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
LOT 111 WHITNEY'S SUB BLOCK 1 1/4 SEC 39-42 10,000 A.T. L25 P77WCR
Tax Annual Amount
2235
Legal Description
LOT 111 WHITNEY'S SUB BLOCK 1 1/4 SEC 39-42 10,000 A.T. L25 P77WCR
Utilities
Heating system
Forced Air
Water source
Public
Amenities
front porch
common hallway
washer/dryer hook-ups
Building Details
Year built
1914
Floors in Building
2
Number of units
4
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Diamond Realty & Associates, LLC
(810) 375-2500
Listed By:
Leanne Conger
(586) 214-4663
Added: May 26
Changed: Aug 26
Last Checked: Aug 26 at 8:06AM
MLS# 20261036047
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.
Investment Insights
Based on property information with market context.
Located at 2441 Holbrook Street in Hamtramck, this 3,036-square-foot quadplex was built in 1914 on a 0.08-acre lot. The brick building contains four separate units, each arranged with a kitchen, bathroom, living room, and two bedrooms. Individual entrances serve every unit, while a shared hallway connects to the basement and attic. The property also includes a large front porch, forced-air heating, an asphalt roof, public water, and a fenced exterior.
A brick two-car garage provides additional on-site utility. The basement includes multiple washer and dryer hookups, and the attic offers substantial additional space. One unit is occupied under a month-to-month lease, while the other three are available for viewing. The property is rental certified and zoned Multi-Family.
A brick two-car garage provides additional on-site utility. The basement includes multiple washer and dryer hookups, and the attic offers substantial additional space. One unit is occupied under a month-to-month lease, while the other three are available for viewing. The property is rental certified and zoned Multi-Family.
Key Highlights
- 3,036‑square‑foot four‑unit building on a 0.08‑acre lot
- Brick construction with a brick two‑car garage
- Each unit has a private entrance, kitchen, bathroom, living room, and two bedrooms
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
$29,806
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
8.52%
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%
$596,120
$596.1K
Cap Rate 7%
$425,800
$425.8K
Cap Rate 9%
$331,178
$331.2K
Market Conditions
NOI Build-Up for 3,036 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
$45.5K $15.00/SF
− Vacancy
−$3.0K −$0.98/SF
EGI
$42.6K $14.03/SF
− OpEx
−$12.8K −$4.21/SF
NOI
$29.8K $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%
$596,120
Cap Rate 7%
$425,800
Cap Rate 9%
$331,178
Alternative Uses
Best Use
Multifamily LT 5
$425.8K
$372.6K – $496.8K
NOI $29,806 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$391.0K
$342.1K – $456.2K
NOI $27,369 @ 7.0% cap · market cap 7.82%
Theoretical Best
Specialty Retail
$562.1K
$491.8K – $655.8K
NOI $39,347 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
25%
Occupancy
Single-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Rental-certified four-unit property with updated interiors, a detached two-car garage, and Multi-Family zoning.
Where is this quadplex located?
The property is located at 2441 Holbrook Street Hamtramck, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 3,036‑square‑foot four‑unit building on a 0.08‑acre lot; Brick construction with a brick two‑car garage; Each unit has a private entrance, kitchen, bathroom, living room, and two bedrooms
