Wyandotte Multi-Family Investment
For Sale
$215,000
Pending
300 2nd St, Wyandotte, MI 48192
Three-unit property in Wyandotte near Detroit River and parks.
Property Size1,939 SF
Days on Market194
Property Features for 300 2nd St
General Information
Standard status
Pending
Size
1,939 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,922
Building Details
Building Size
1,939 SF
Year Built
1924
Units
3
Listed By:
Hitoshi Takatsu
(313) 790-1483
Source:
Elliman
Added: Apr 22
Changed: Oct 25
Last Checked: Oct 30 at 3:56PM
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 Hitoshi Takatsu
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 three-unit multi-family property is located in Wyandotte, near the Detroit River and local parks. The property includes one two-bedroom unit on the ground floor and two one-bedroom units on the upper floors. All units are currently rented with long-term tenants. The property has separate electric meters and a one-car detached garage. The location offers access to shopping and major freeways. The bike score is 37, indicating it is somewhat bikeable, and the walk score is 27, indicating car dependence.
Key Highlights
- Prime multi‑family investment opportunity in desirable Wyandotte location.
- All units are fully rented with longtime tenants, providing immediate income.
- Located near the Detroit River and local parks, enhancing rental appeal.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,036
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,720
$380.7K
Cap Rate 7%
$271,943
$271.9K
Cap Rate 9%
$211,511
$211.5K
Market Conditions
NOI Build-Up for 1,939 SF
Gross rent
$29.1K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.2K $14.03/SF
− OpEx
−$8.2K −$4.21/SF
NOI
$19.0K $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 Rate 5%
$380,720
Cap Rate 7%
$271,943
Cap Rate 9%
$211,511
Alternative Uses
Best Use
Multifamily LT 5
$271.9K
$238.0K – $317.3K
NOI $19,036 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$249.7K
$218.5K – $291.3K
NOI $17,480 @ 7.0% cap · market cap 8.13%
Theoretical Best
Specialty Retail
$359.0K
$314.1K – $418.8K
NOI $25,129 @ 7.0% cap · market cap 11.69%
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
Location Intelligence
Trade Area within ½ mile
439
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property in Wyandotte near Detroit River and parks.
Where is this triplex located?
The property is located at 300 2nd St Wyandotte, MI.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Prime multi‑family investment opportunity in desirable Wyandotte location.; All units are fully rented with longtime tenants, providing immediate income.; Located near the Detroit River and local parks, enhancing rental appeal.
