Two-Unit Duplex with
For Sale
$250,000
3262 Hanley St, Hamtramck, MI 48212
Residential duplex with two-bedroom floor plans, basement storage, and one unit available for occupancy.
Property Size1,892 SF
Days on Market52
Property Features for 3262 Hanley St
General Information
Standard status
Active
Size
1,892 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,740
Building Details
Building Size
1,892 SF
Year Built
1950
Units
2
Listing Agency:
XPI Realty
Listed By:
Ben Bawazir · License #6501359047
(313) 424-9962
Source:
Elliman
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 30 at 4:19PM
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 XPI Realty
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Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains two residential units, each arranged with two bedrooms, one full bathroom, a living room, and a kitchen. The first-floor unit is vacant, while the second-floor unit is occupied under an active 6-month lease. Additional space includes a full attic for storage and a full basement with storage and mechanical access.
Located at 3262 Hanley St in Hamtramck, the property is within walking distance of local markets, dining, and schools, with major highways also nearby. Walk Score is 80, BikeScore is 52, and Transit Score is 36.
Located at 3262 Hanley St in Hamtramck, the property is within walking distance of local markets, dining, and schools, with major highways also nearby. Walk Score is 80, BikeScore is 52, and Transit Score is 36.
Key Highlights
- Two residential units, each with 2 bedrooms, 1 full bathroom, a living room, and a kitchen
- First‑floor unit is vacant and available for occupancy
- Second‑floor unit has an active 6‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,575
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,500
$371.5K
Cap Rate 7%
$265,357
$265.4K
Cap Rate 9%
$206,389
$206.4K
Market Conditions
NOI Build-Up for 1,892 SF
Gross rent
$28.4K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$26.5K $14.03/SF
− OpEx
−$8.0K −$4.21/SF
NOI
$18.6K $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 Rate 5%
$371,500
Cap Rate 7%
$265,357
Cap Rate 9%
$206,389
Alternative Uses
Best Use
Multifamily LT 5
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,056 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$350.3K
$306.5K – $408.7K
NOI $24,520 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with two-bedroom floor plans, basement storage, and one unit available for occupancy.
Where is this duplex located?
The property is located at 3262 Hanley St Hamtramck, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms, 1 full bathroom, a living room, and a kitchen; First‑floor unit is vacant and available for occupancy; Second‑floor unit has an active 6‑month lease
