Updated Three-Unit
For Sale
$349,900
40 Ahrens Street, Mount Clemens, MI 48043
MULTIFAMILY, Mount Clemens, MI
Property Size2,134 SF
Lot Size0.18 Acres
Price / SF$163.96
Days on Market287
Property Features for 40 Ahrens Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Basement, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 6, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
Appliances
Dryer, Freezer, Microwave, Range/Oven, Refrigerator, Washer
Subdivision
Ahrns Add
Elementary school district
Mt Clemens Community Schools
Middle school district
Mt Clemens Community Schools
High school district
Mt Clemens Community Schools
Standard status
Active
APN
05-11-11-426-004
Size
2,134 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4417
Utilities
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Listing Agency:
HomeCoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(404) 388-9441
Added: Nov 26, 2025
Changed: Sep 6
Last Checked: Sep 9 at 1:06PM
MLS# 50195177
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 1940 triplex contains 2,134 square feet across three residential units. The configuration includes one three-bedroom, one-bath unit, one one-bedroom, one-bath unit, and one two-bedroom, one-bath unit, totaling six bedrooms and three bathrooms. Interior improvements include granite countertops, luxury vinyl plank flooring, soft-close kitchen cabinetry, hardwood flooring, and new high-efficiency furnaces. Washers, dryers, refrigerators, ranges/ovens, microwaves, and freezers are included. Public water serves the property, which occupies 0.18 acres.
The property is located at 40 Ahrens Street in Mount Clemens, Michigan. All three units are currently occupied, and city rental inspections and certifications are in place. Tenants pay their own gas and electric expenses, while the owner pays for water.
The property is located at 40 Ahrens Street in Mount Clemens, Michigan. All three units are currently occupied, and city rental inspections and certifications are in place. Tenants pay their own gas and electric expenses, while the owner pays for water.
Key Highlights
- Three‑unit triplex with 2,134 square feet on 0.18 acres
- Unit mix includes 3‑bedroom, 1‑bedroom, and 2‑bedroom residences
- Six total bedrooms and three total bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,590
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$451,800
$451.8K
Cap Rate 7%
$322,714
$322.7K
Cap Rate 9%
$251,000
$251.0K
Market Conditions
NOI Build-Up for 2,134 SF
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.
Gross rent
$34.6K $16.20/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$32.3K $15.12/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$22.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$451,800
Cap Rate 7%
$322,714
Cap Rate 9%
$251,000
Alternative Uses
Best Use
Multifamily LT 5
$322.7K
$282.4K – $376.5K
NOI $22,590 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$286.3K
$250.5K – $334.0K
NOI $20,041 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$399.5K
$349.6K – $466.1K
NOI $27,966 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with varied unit sizes, refreshed interiors, certified rental units, and separately metered gas and electric.
Where is this triplex located?
The property is located at 40 Ahrens Street Mount Clemens, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three‑unit triplex with 2,134 square feet on 0.18 acres; Unit mix includes 3‑bedroom, 1‑bedroom, and 2‑bedroom residences; Six total bedrooms and three total bathrooms
