Two-Unit Duplex with
New
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 Market6
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
Last Checked: Sep 15 at 9:26AM
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
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 = 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
$18,575
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
7.43%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
957
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
