Updated
New
For Sale
$374,900
38615 Meadowdale St, Clinton Township, MI 48036
One residence has recent interior improvements, while the other is occupied by a long-term tenant.
Property Size2,292 SF
Days on Market3
Property Features for 38615 Meadowdale St
General Information
Standard status
Active
Size
2,292 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,713
Building Details
Building Size
2,292 SF
Year Built
1987
Units
2
Listing Agency:
Realty Executives Home Towne
Listed By:
Tim Thomas · License #6506037587
(586) 997-9900
Source:
Elliman
Added: Oct 4
Last Checked: Oct 5 at 7:18PM
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 Realty Executives Home Towne
Investment Insights
Based on property information with market context.
This two-unit property includes a 1,400-square-foot residence with new LVT flooring and paint, along with other updates completed within the last 30 days. A one-year lease for that unit was in place as of 10/2/2026. The 900-square-foot unit has a long-term tenant and is also leased.
Built in 1987, the duplex is located in Clinton Township. The property information gives it a walk score of 43 and a bike score of 40.
Built in 1987, the duplex is located in Clinton Township. The property information gives it a walk score of 43 and a bike score of 40.
Key Highlights
- Two‑unit duplex built in 1987
- 1,400‑square‑foot unit updated within the last 30 days with new LVT flooring and paint
- One‑year lease in place for the 1,400‑square‑foot unit as of 10/2/2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,263
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,260
$485.3K
Cap Rate 7%
$346,614
$346.6K
Cap Rate 9%
$269,589
$269.6K
Market Conditions
NOI Build-Up for 2,292 SF
Gross rent
$37.1K $16.20/SF
− Vacancy
−$2.5K −$1.08/SF
EGI
$34.7K $15.12/SF
− OpEx
−$10.4K −$4.54/SF
NOI
$24.3K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,260
Cap Rate 7%
$346,614
Cap Rate 9%
$269,589
Alternative Uses
Best Use
Multifamily LT 5
$346.6K
$303.3K – $404.4K
NOI $24,263 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$307.5K
$269.1K – $358.7K
NOI $21,524 @ 7.0% cap · market cap 5.74%
Theoretical Best
Specialty Retail
$429.1K
$375.5K – $500.6K
NOI $30,037 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence has recent interior improvements, while the other is occupied by a long-term tenant.
Where is this duplex located?
The property is located at 38615 Meadowdale St Clinton Township, MI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1987; 1,400‑square‑foot unit updated within the last 30 days with new LVT flooring and paint; One‑year lease in place for the 1,400‑square‑foot unit as of 10/2/2026
