Two-Unit Duplex with Private
New
For Sale
$229,900
2483 10th St, Wyandotte, MI 48192
Separate living spaces offer a covered porch, basement access, mudroom, and shared rear storage.
Property Size1,188 SF
Days on Market6
Property Features for 2483 10th St
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,328
Building Details
Building Size
1,188 SF
Year Built
1910
Units
2
Listed By:
Marisa Mueller
(734) 341-5247
Source:
Elliman
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 24 at 12:52PM
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 Marisa Mueller
Investment Insights
Based on property information with market context.
This duplex, built in 1910, contains two separate residences with individual entrances. The lower unit includes 2 bedrooms, 1 full bath, basement access, a mudroom, and a covered porch. The upper unit provides 1 bedroom, 1 full bath, and a private balcony. A shared rear shed adds storage, while the parking area accommodates at least 4 vehicles.
The property is located at 2483 10th St in Wyandotte, near shopping, dining, parks, schools, and downtown. A Certificate of Occupancy has been provided, and rental-related services are up to date. The property is tenant occupied and requires authorization before an in-person approach.
The property is located at 2483 10th St in Wyandotte, near shopping, dining, parks, schools, and downtown. A Certificate of Occupancy has been provided, and rental-related services are up to date. The property is tenant occupied and requires authorization before an in-person approach.
Key Highlights
- Two separate units with individual entrances
- Lower unit includes 2 bedrooms, 1 full bath, basement access, mudroom, and covered porch
- Upper unit offers 1 bedroom, 1 full bath, and a private balcony
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
$11,663
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
5.07%
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%
$233,260
$233.3K
Cap Rate 7%
$166,614
$166.6K
Cap Rate 9%
$129,589
$129.6K
Market Conditions
NOI Build-Up for 1,188 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
$17.8K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$16.7K $14.03/SF
− OpEx
−$5.0K −$4.21/SF
NOI
$11.7K $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%
$233,260
Cap Rate 7%
$166,614
Cap Rate 9%
$129,589
Alternative Uses
Best Use
Multifamily LT 5
$166.6K
$145.8K – $194.4K
NOI $11,663 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$153.0K
$133.9K – $178.5K
NOI $10,710 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$219.9K
$192.5K – $256.6K
NOI $15,396 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
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
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 - Separate living spaces offer a covered porch, basement access, mudroom, and shared rear storage.
Where is this duplex located?
The property is located at 2483 10th St Wyandotte, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two separate units with individual entrances; Lower unit includes 2 bedrooms, 1 full bath, basement access, mudroom, and covered porch; Upper unit offers 1 bedroom, 1 full bath, and a private balcony
