Remodeled Duplex Income
For Sale
$189,000
Pending
3415 13TH Street, Wyandotte, MI 48192
Remodeled two-unit duplex with separate heating systems and DTE electric meters for each unit.
Property Size1,500 SF
Days on Market604
Property Features for 3415 13TH Street
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Multi Family
Building Details
Year Built
1917
Listing Agency:
Fleming & Associates Real Estate Services
(313) 715-0111
Listed By:
Ronald D Fleming · License #6501357340
(313) 715-0111
Source:
Exitrealty
Added: Dec 6, 2024
Changed: Jul 22
Last Checked: Aug 2 at 6:12AM
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 Fleming & Associates Real Estate Services
Investment Insights
Based on property information with market context.
This remodeled duplex features two separate residential units. The lower unit is a 2-bedroom, 1-bath configuration with ceramic tile in the kitchen and bathroom. The upper unit is a 1-bedroom, 1-bath unit with ceramic tile in the bathroom. Each unit has its own furnace and separate DTE meter for heat, with Wyandotte separate meters for electric as well.
The property is fully tenant occupied, and showings and inspections are scheduled after an accepted offer. The photos provided were taken prior to current leases being signed, and the City Inspection results are pending.
According to the information provided, the upper unit is approximately 700 square feet and the lower unit is approximately 800 square feet. Public records do not reflect the complete finishing of the upper unit.
The property is fully tenant occupied, and showings and inspections are scheduled after an accepted offer. The photos provided were taken prior to current leases being signed, and the City Inspection results are pending.
According to the information provided, the upper unit is approximately 700 square feet and the lower unit is approximately 800 square feet. Public records do not reflect the complete finishing of the upper unit.
Key Highlights
- Duplex built in 1917 with 2 separate units: upper 700 SF and lower 800 SF
- Lower unit: remodeled 2 bed, 1 bath with ceramic tile in kitchen and bathroom
- Upper unit: 1 bed, 1 bath with ceramic tile in the bathroom
Financial Insights For Multifamily LT 5
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 | $22.5k | $15.00 |
| − Vacancy | −$1.5k | −$0.98 |
| EGI | $21.0k | $14.03 |
| − OpEx | −$6.3k | −$4.21 |
| NOI | $14.7k | $9.82 |
1,500 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$210.4K
$184.1K – $245.4K
NOI $14,726 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$193.2K
$169.0K – $225.4K
NOI $13,522 @ 7.0% cap · market cap 7.15%
Theoretical Best
Specialty Retail
$277.7K
$243.0K – $324.0K
NOI $19,440 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit duplex with separate heating systems and DTE electric meters for each unit.
Where is this duplex located?
The property is located at 3415 13TH Street Wyandotte, MI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Duplex built in 1917 with 2 separate units: upper 700 SF and lower 800 SF; Lower unit: remodeled 2 bed, 1 bath with ceramic tile in kitchen and bathroom; Upper unit: 1 bed, 1 bath with ceramic tile in the bathroom
