Townhouse-Style Duplex with Detached
35230 Chestnut Street Wayne, MI 48184
35230 Chestnut Street, Wayne, MI, 48184
$200,000
Pending
For Sale
$200,000
Pending
MULTI_FAMILY - Wayne, MI
Property Size1,960 SF
Lot Size0.16 Acres
Days on Market74
Property Features for 35230 Chestnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3
- Standard status
- Pending
- APN
- 55 003 01 0079 000
- Size
- 1,960 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4627
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Number of units
- 2
Listing Agency
Sine & Monaghan LLC
(313) 884-7000
18412 Mack Ave, Grosse Pointe Farms, MI
Listed by
Michael DeFauw · License #6501387091
(313) 820-5428
Added: May 8 Checked: Jul 20 at 6:06 am
MLS# 50206931
Listing URL
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This townhouse-style duplex offers two distinct residential units with hardwood floors and original wood accents throughout. Each unit includes spacious living areas and functional layouts designed for everyday comfort, with abundant natural light. The property is complemented by a detached two-car garage, along with private backyard space for outdoor use. Exterior grounds are described as well-maintained, supporting straightforward upkeep and curb appeal.
Located in Wayne, MI, the property is described as being just minutes from the downtown City of Wayne shopping and dining district, offering convenient access to local restaurants, boutiques, entertainment, and everyday amenities. The listing also notes that showings require 24-hour notice to view both units.
For buyers seeking an income-producing duplex, the current configuration includes long-term tenants already in place, with tenants reportedly interested in remaining. This setup can also suit owner-occupants who prefer to live in one unit while benefiting from rental income from the other. The combination of classic interior details, functional unit layouts, and separate garage and outdoor space supports practical, tenant-friendly living.
Located in Wayne, MI, the property is described as being just minutes from the downtown City of Wayne shopping and dining district, offering convenient access to local restaurants, boutiques, entertainment, and everyday amenities. The listing also notes that showings require 24-hour notice to view both units.
For buyers seeking an income-producing duplex, the current configuration includes long-term tenants already in place, with tenants reportedly interested in remaining. This setup can also suit owner-occupants who prefer to live in one unit while benefiting from rental income from the other. The combination of classic interior details, functional unit layouts, and separate garage and outdoor space supports practical, tenant-friendly living.
Key Highlights
- Townhouse‑style duplex built in 1925 with forced‑air heating and public water
- Duplex layout includes 4 bedrooms total across the units, plus 2 bathrooms
- Detached two‑car garage and private backyard space for added tenant appeal
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 | $34.1k | $17.40 |
| − Vacancy | −$2.0k | −$1.01 |
| EGI | $32.1k | $16.39 |
| − OpEx | −$14.5k | −$7.38 |
| NOI | $17.7k | $9.01 |
1,960 SF · lease $17.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$274.9K
$240.5K – $320.7K
NOI $19,242 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,669 @ 7.0% cap · market cap 8.83%
Theoretical Best
Specialty Retail
$362.9K
$317.5K – $423.4K
NOI $25,402 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with hardwood floors, private outdoor space, and a detached two-car garage, with long-term tenants in place.
Where is this duplex located?
The property is located at 35230 Chestnut Street Wayne, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Townhouse‑style duplex built in 1925 with forced‑air heating and public water; Duplex layout includes 4 bedrooms total across the units, plus 2 bathrooms; Detached two‑car garage and private backyard space for added tenant appeal
