Duplex with Four-Car
New
For Sale
$340,000
27065 Dowland St, Warren, MI 48092
Two residential units have separate utilities, with one leased and the other occupied by the owner.
Property Size2,264 SF
Days on Market3
Property Features for 27065 Dowland St
General Information
Standard status
Active
Size
2,264 SF
Total Parking Spaces
4
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,674
Building Details
Building Size
2,264 SF
Year Built
1977
Buildings
1
Units
2
Listing Agency:
Good Company
(313) 410-1149
Listed By:
Jay Taylor · License #6501394740
(313) 410-1149
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 10:02AM
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 Good Company
Investment Insights
Based on property information with market context.
This duplex contains two residential units with individually separated utilities, supporting straightforward management between the apartments. One unit is leased, while the other is occupied by the owner and offers flexibility for continued personal use or a future tenant. A four-car garage provides substantial enclosed parking and storage capacity.
The property is located at 27065 Dowland St in Warren, Michigan. Built in 1977, it combines a two-unit residential layout with a large accessory garage suitable for vehicle storage and other practical needs.
The property is located at 27065 Dowland St in Warren, Michigan. Built in 1977, it combines a two-unit residential layout with a large accessory garage suitable for vehicle storage and other practical needs.
Key Highlights
- Two‑unit duplex with separate utilities for each residence
- One unit is leased and the second is currently owner‑occupied
- Four‑car garage provides substantial enclosed parking and storage
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
$22,227
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
6.54%
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%
$444,540
$444.5K
Cap Rate 7%
$317,529
$317.5K
Cap Rate 9%
$246,967
$247.0K
Market Conditions
NOI Build-Up for 2,264 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
$34.0K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.8K $14.03/SF
− OpEx
−$9.5K −$4.21/SF
NOI
$22.2K $9.82/SF
Area
Warren, 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%
$444,540
Cap Rate 7%
$317,529
Cap Rate 9%
$246,967
Alternative Uses
Best Use
Multifamily LT 5
$317.5K
$277.8K – $370.5K
NOI $22,227 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$295.6K
$258.6K – $344.9K
NOI $20,691 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$499.4K
$437.0K – $582.7K
NOI $34,961 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 48092, MI
27,186
Population
11,052
Households
2.5
Avg Household Size
42
Median Age
27%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
3,356
Density / Sq Mi
$71,761
Median Household Income
$40,174
Median Earnings
$1,186
Median Rent
$205,300
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?
Duplex - Two residential units have separate utilities, with one leased and the other occupied by the owner.
Where is this duplex located?
The property is located at 27065 Dowland St Warren, MI.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit duplex with separate utilities for each residence; One unit is leased and the second is currently owner‑occupied; Four‑car garage provides substantial enclosed parking and storage
