Fully Renovated Triplex with Bonus
For Sale
$350,000
2600 Zinow St, Hamtramck, MI 48212
Three income-producing units with 2024 renovations, including two separate 2-bedroom apartments and a rear 1-bedroom rental.
Property Size2,000 SF
Days on Market54
Property Features for 2600 Zinow St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,690
Building Details
Building Size
2,000 SF
Year Built
1915
Units
3
Listing Agency:
(734) 284-5400
Listed By:
Joanne Taylor
(734) 284-5400
Source:
Elliman
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 8 at 10:40AM
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 Joanne Taylor
Investment Insights
Based on property information with market context.
This fully renovated triplex-style property includes a restored 2-bedroom apartment on the upper level, a light-filled 2-bedroom apartment on the lower level, and a standalone 1-bedroom bonus rental home located at the rear of the property. Improvements completed in 2024 include new kitchens and baths, drywall, hardwood flooring, plumbing, electrical, and HVAC, along with interior and exterior painting. The roof and windows were previously updated in 2016. Laundry hookups are provided in the basement, and the rear building has its own private laundry hookups.
Located in Hamtramck, the property is described as very walkable to neighborhood destinations, with some transit availability and bikeability. It is also noted to be about a 10-minute ride from downtown Detroit, making it practical for residents who want convenient access to both local amenities and the city.
All units are currently leased on yearly terms, with tenants in good standing who want to remain. The layout supports a variety of ownership approaches, including an investor purchase focused on collecting rental income or an owner-occupant option where you can live in one unit while renting the others. Current tenancy and recent capital improvements help reduce near-term maintenance concerns for day-to-day operations.
Located in Hamtramck, the property is described as very walkable to neighborhood destinations, with some transit availability and bikeability. It is also noted to be about a 10-minute ride from downtown Detroit, making it practical for residents who want convenient access to both local amenities and the city.
All units are currently leased on yearly terms, with tenants in good standing who want to remain. The layout supports a variety of ownership approaches, including an investor purchase focused on collecting rental income or an owner-occupant option where you can live in one unit while renting the others. Current tenancy and recent capital improvements help reduce near-term maintenance concerns for day-to-day operations.
Key Highlights
- Three income‑producing units: two 2‑bedroom apartments plus a standalone rear 1‑bedroom rental.
- Fully renovated in 2024 with new kitchens, baths, drywall, hardwood flooring, plumbing, electrical, and HVAC.
- Roof replaced in 2016; windows updated in 2016; exterior and interior paint completed.
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
$19,635
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
5.61%
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%
$392,700
$392.7K
Cap Rate 7%
$280,500
$280.5K
Cap Rate 9%
$218,167
$218.2K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.1K $14.03/SF
− OpEx
−$8.4K −$4.21/SF
NOI
$19.6K $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%
$392,700
Cap Rate 7%
$280,500
Cap Rate 9%
$218,167
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.4K – $327.3K
NOI $19,635 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$257.6K
$225.4K – $300.5K
NOI $18,030 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,159
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?
Triplex - Three income-producing units with 2024 renovations, including two separate 2-bedroom apartments and a rear 1-bedroom rental.
Where is this triplex located?
The property is located at 2600 Zinow St Hamtramck, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three income‑producing units: two 2‑bedroom apartments plus a standalone rear 1‑bedroom rental.; Fully renovated in 2024 with new kitchens, baths, drywall, hardwood flooring, plumbing, electrical, and HVAC.; Roof replaced in 2016; windows updated in 2016; exterior and interior paint completed.
