Updated Condo in Quiet
33090 Forest Park Wayne, MI 48184
33090 Forest Park, Wayne, MI, 48184
$229,000
For Sale
$229,000
Updated 2-bedroom condo with modern amenities and spacious layout.
Property Size1,780 SF
Price / SF$128.65
Days on Market368
Property Features for 33090 Forest Park
General Information
- Standard status
- Active
- Size
- 1,780 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 2002
Listing Agency
RE/MAX First
(586) 792-8000
Listed by
Matthew Hanke · License #6501375089
(586) 792-8000
Source
Kw
Added: Jul 18, 2025 Checked: Jul 19 at 2:28 am
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 RE/MAX First
Investment Insights
Based on property information with market context.
This updated condominium, situated in Wayne, features 2 bedrooms and 2.5 bathrooms within 1780 square feet of living space. The move-in ready unit includes a great room with a vaulted ceiling and a gas fireplace, which opens onto a freshly painted deck. A first-floor laundry area is conveniently located off the 2-car attached garage. The primary bedroom includes a walk-in closet and two additional closets, leading to a private en-suite bathroom with double sinks and a shower. The second level features a spacious loft overlooking the great room, which could be converted into a third bedroom. The second bedroom is generously sized and includes a closet. A full bathroom with a tub-shower combination is located between the loft and the second bedroom. The property also includes a large, unfinished basement. Luxurious Vinyl Plank flooring extends throughout both levels. The kitchen is equipped with new LG stainless steel appliances, a new stainless steel sink, disposal, and faucet. All bathrooms have been updated with matching new toilets, sinks, and faucets. The property is located in Forest Park, a community near Metro Airport and Corewell Health Wayne Hospital.
Key Highlights
- Move‑in ready, updated 2 bedroom, 2.5 bath condominium with 1780 sq ft of living space.
- Features a vaulted ceiling in the great room with a gas fireplace and freshly painted deck.
- First‑floor laundry and 2‑car attached garage.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.0k | $17.40 |
| − Vacancy | −$1.8k | −$1.01 |
| EGI | $29.2k | $16.39 |
| − OpEx | −$13.1k | −$7.38 |
| NOI | $16.0k | $9.01 |
1,780 SF · lease $17.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$229.2K
$200.6K – $267.5K
NOI $16,047 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$329.6K
$288.4K – $384.5K
NOI $23,069 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Updated 2-bedroom condo with modern amenities and spacious layout.
Where is this apartment building located?
The property is located at 33090 Forest Park Wayne, MI.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Move‑in ready, updated 2 bedroom, 2.5 bath condominium with 1780 sq ft of living space.; Features a vaulted ceiling in the great room with a gas fireplace and freshly painted deck.; First‑floor laundry and 2‑car attached garage.
