Wayne Multifamily Investment
For Sale
$199,000
35449 Clinton St, Wayne, MI 48184
Nine-unit property in Wayne with immediate and consistent cash flow.
Property Size2,000 SF
Price / SF$99.50
Days on Market196
Property Features for 35449 Clinton St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1865
Listing Agency:
U.S. Investor Group
Listed By:
Hassan Hammoud · License #6501457390
(313) 644-0034
Source:
Premiermichiganhomesearch
Added: Apr 9
Changed: Oct 3
Last Checked: Oct 7 at 5:22PM
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 U.S. Investor Group
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Investment Insights
Based on property information with market context.
Located at 35449 Clinton Street in Wayne, this 9-unit property presents an excellent investment opportunity. The building is currently generating income with 8 out of 9 units occupied. Each occupied unit generates $650 per month. The property benefits from strong rental demand due to its convenient location near shopping, dining, and major roadways. The property offers additional upside potential for increased income with one vacant unit. The location has a walk score of 61, indicating it is somewhat walkable, and a bike score of 39, indicating it is somewhat bikeable. This income-producing property is suited for expanding an investment portfolio or securing a stable asset with steady returns and room for growth.
Key Highlights
- Excellent Investment Opportunity: Solid income‑producing 9‑unit property.
- High Occupancy: 8 out of 9 units currently occupied, ensuring immediate cash flow.
- Consistent Income: Each occupied unit generates $650 per month.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,030
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,600
$360.6K
Cap Rate 7%
$257,571
$257.6K
Cap Rate 9%
$200,333
$200.3K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$34.8K $17.40/SF
− Vacancy
−$2.0K −$1.01/SF
EGI
$32.8K $16.39/SF
− OpEx
−$14.8K −$7.38/SF
NOI
$18.0K $9.01/SF
Area
Wayne County, MI
Vacancy
5.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,600
Cap Rate 7%
$257,571
Cap Rate 9%
$200,333
Alternative Uses
Best Use
Apartment 5plus
$257.6K
$225.4K – $300.5K
NOI $18,030 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 48184, MI
17,776
Population
7,739
Households
2.3
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
2,469
Density / Sq Mi
$54,572
Median Household Income
$36,548
Median Earnings
$924
Median Rent
$142,400
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
Frequently Asked Questions
What type of property is this?
Apartment building - Nine-unit property in Wayne with immediate and consistent cash flow.
Where is this apartment building located?
The property is located at 35449 Clinton St Wayne, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Excellent Investment Opportunity: Solid income‑producing 9‑unit property.; High Occupancy: 8 out of 9 units currently occupied, ensuring immediate cash flow.; Consistent Income: Each occupied unit generates $650 per month.
