Updated Duplex With
For Sale
$299,900
4932 Reuter St, Dearborn, MI 48126
Two matching three-bedroom units offer flexible layouts in a multifamily property near Michigan Avenue.
Property Size2,832 SF
Price / SF$105.90
Days on Market17
Property Features for 4932 Reuter St
General Information
Standard status
Active
Size
2,832 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Real Estate One-Dbn Hts/Dbn
Listed By:
Ahmed M Almawri · License #6501344491
(313) 522-0110
Source:
Metrodetroithomeguide
Added: Aug 25
Changed: Sep 4
Last Checked: Sep 10 at 9:46AM
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 Real Estate One-Dbn Hts/Dbn
Investment Insights
Based on property information with market context.
This duplex contains 2,832 square feet across two similarly arranged residences. Each unit includes three bedrooms, a living room, dining room, kitchen, and full bathroom, creating a consistent configuration for the property. Updates have been completed, and the building includes a one-car garage.
The property is located on Reuter St in Dearborn near Michigan Avenue. Restaurants, shopping, schools, parks, and everyday amenities are nearby, with access to major freeways and surrounding communities.
The property is located on Reuter St in Dearborn near Michigan Avenue. Restaurants, shopping, schools, parks, and everyday amenities are nearby, with access to major freeways and surrounding communities.
Key Highlights
- Two‑family duplex with 2,832 square feet
- Each unit includes 3 bedrooms, living room, dining room, kitchen, and full bathroom
- Updates completed throughout the property
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
$25,422
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
8.48%
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%
$508,440
$508.4K
Cap Rate 7%
$363,171
$363.2K
Cap Rate 9%
$282,467
$282.5K
Market Conditions
NOI Build-Up for 2,832 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
$49.3K $17.40/SF
− Vacancy
−$3.1K −$1.08/SF
EGI
$46.2K $16.32/SF
− OpEx
−$20.8K −$7.34/SF
NOI
$25.4K $8.98/SF
Area
Dearborn, MI
Vacancy
6.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$508,440
Cap Rate 7%
$363,171
Cap Rate 9%
$282,467
Alternative Uses
Best Use
Multifamily LT 5
$397.2K
$347.5K – $463.4K
NOI $27,803 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$363.2K
$317.8K – $423.7K
NOI $25,422 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$624.8K
$546.7K – $728.9K
NOI $43,733 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 48126, MI
55,863
Population
16,919
Households
3.3
Avg Household Size
28
Median Age
24%
College-Educated
74%
High-School Grad
8.4 sq mi
ZIP Area
6,650
Density / Sq Mi
$42,353
Median Household Income
$27,724
Median Earnings
$1,222
Median Rent
$200,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching three-bedroom units offer flexible layouts in a multifamily property near Michigan Avenue.
Where is this duplex located?
The property is located at 4932 Reuter St Dearborn, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑family duplex with 2,832 square feet; Each unit includes 3 bedrooms, living room, dining room, kitchen, and full bathroom; Updates completed throughout the property
