Occupied Two-Unit
For Sale
$239,000
Pending
464 Elm Street, Wyandotte, MI 48192
Multi Family, Wyandotte, MI
Property Size1,974 SF
Lot Size0.10 Acres
Days on Market49
Property Features for 464 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Basement
Elementary school district
Wyandotte
Middle school district
Wyandotte
High school district
Wyandotte
Standard status
Pending
APN
57-015-24-0014-001
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
01338 S 90 FT OF LOT 14 PART OF WYANDOTTE IN THE TWP OF ECORSE, BLOCK 124 T3S R11E, L1 P56 WCR
Tax Annual Amount
7484
Legal Description
01338 S 90 FT OF LOT 14 PART OF WYANDOTTE IN THE TWP OF ECORSE, BLOCK 124 T3S R11E, L1 P56 WCR
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
private entrance
covered front porch
storage shed
Building Details
Year built
1904
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Ann Arbor Mrkt · Keller Williams Realty
(734) 995-9400
Listed By:
Armita Kyani
(734) 934-4772
Added: Aug 20
Changed: Sep 12
Last Checked: Oct 7 at 6:06AM
MLS# 26043912
Copyright © 2026 Michigan Regional Information Center, LLC. 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 1,974-square-foot duplex contains two occupied apartments, each arranged with two bedrooms and one full bathroom. Every unit has its own furnace and water heater, along with a refrigerator, stove, microwave, and washer/dryer. Private entrances, a covered front porch, and an on-site storage shed add functional convenience. The property was built in 1904 and has vinyl siding, forced-air heating, central air, and a basement.
Located in Wyandotte, the property is within walking distance of Downtown Wyandotte, restaurants, shopping, and the Detroit River. Public sewer serves the property. Tenants pay gas and electric, while the owner covers water and trash. City inspection has been completed, with minor items being addressed by the seller. Showings require 24-hour notice because the apartments are tenant occupied.
Located in Wyandotte, the property is within walking distance of Downtown Wyandotte, restaurants, shopping, and the Detroit River. Public sewer serves the property. Tenants pay gas and electric, while the owner covers water and trash. City inspection has been completed, with minor items being addressed by the seller. Showings require 24-hour notice because the apartments are tenant occupied.
Key Highlights
- Two‑unit duplex with both apartments fully occupied
- Each unit includes 2 bedrooms and 1 full bathroom
- 1,974 Sq. Ft. property on 0.1 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,380
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,600
$387.6K
Cap Rate 7%
$276,857
$276.9K
Cap Rate 9%
$215,333
$215.3K
Market Conditions
NOI Build-Up for 1,974 SF
Gross rent
$29.6K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.7K $14.03/SF
− OpEx
−$8.3K −$4.21/SF
NOI
$19.4K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,600
Cap Rate 7%
$276,857
Cap Rate 9%
$215,333
Alternative Uses
Best Use
Multifamily LT 5
$276.9K
$242.3K – $323.0K
NOI $19,380 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$254.2K
$222.4K – $296.6K
NOI $17,795 @ 7.0% cap · market cap 7.45%
Theoretical Best
Specialty Retail
$365.5K
$319.8K – $426.4K
NOI $25,583 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,081
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
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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 - Two-bedroom units offer separate mechanical systems, private entrances, and individual appliance packages.
Where is this duplex located?
The property is located at 464 Elm Street Wyandotte, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑unit duplex with both apartments fully occupied; Each unit includes 2 bedrooms and 1 full bathroom; 1,974 Sq. Ft. property on 0.1 acres
