Triplex with Private
New
For Sale
$875,000
3315 McDowell, Ferndale, MI 48220
Separate gas, electric, and water meters serve each residence.
Property Size3,386 SF
Days on Market3
Property Features for 3315 McDowell
General Information
Standard status
Active
Size
3,386 SF
Property subtype
Investment
Units
Unit Mix
3 x 2BR/1.5BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$27,033
Amenities
dedicated second-floor laundry room
central air conditioning
Building Details
Building Size
3,386 SF
Year Built
2020
Units
3
Listed By:
Candice A Van Slembrouck
(248) 346-6795
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 10:22PM
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 Candice A Van Slembrouck
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Investment Insights
Based on property information with market context.
Built in 2020, this triplex contains three matching residences, each with 2 bedrooms, 1.5 bathrooms, and 1,130 square feet. Every unit has a second-floor laundry room and a private oversized single-car garage with additional storage space. Individual furnaces and central air conditioning systems provide separate climate control in each residence.
Gas, electric, and water are separately metered for each unit. Two of the three residences are currently leased.
Gas, electric, and water are separately metered for each unit. Two of the three residences are currently leased.
Key Highlights
- Three matching units, each with 2 bedrooms, 1.5 bathrooms, and 1,130 square feet
- Built in 2020
- Private oversized single‑car garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,818
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,360
$896.4K
Cap Rate 7%
$640,257
$640.3K
Cap Rate 9%
$497,978
$498.0K
Market Conditions
NOI Build-Up for 3,386 SF
Gross rent
$67.0K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$64.0K $18.91/SF
− OpEx
−$19.2K −$5.67/SF
NOI
$44.8K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,360
Cap Rate 7%
$640,257
Cap Rate 9%
$497,978
Alternative Uses
Best Use
Multifamily LT 5
$640.3K
$560.2K – $747.0K
NOI $44,818 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$593.3K
$519.2K – $692.2K
NOI $41,533 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$730.3K
$639.0K – $852.1K
NOI $51,123 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Separate gas, electric, and water meters serve each residence.
Where is this triplex located?
The property is located at 3315 McDowell Ferndale, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three matching units, each with 2 bedrooms, 1.5 bathrooms, and 1,130 square feet; Built in 2020; Private oversized single‑car garage for each residence
