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Building Details

Year Built 1964

Listing Agency: EXP Realty Main

Listed By: Nick Coppola · License #6506035783 Show Phone

Source: Premiermichiganhomesearch

Added: Jul 27 Changed: Sep 15 Last Checked: Oct 15 at 1:48AM

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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 EXP Realty Main

Investment Insights

Based on property information with market context.

This three-unit multifamily property includes two two-bedroom residences and one one-bedroom residence on 1.50 acres. Two units are occupied under month-to-month arrangements, while the basement unit is vacant and identified for updates. Each residence includes an owner-provided stove and refrigerator. The basement also offers space for coin-operated laundry equipment, and the attached two-car garage is currently vacant. Tenants pay gas, electric, cable, and internet; ownership maintains the water softener system.

The property has 212 feet of road frontage in Hamburg Township, with access to Brighton, Howell, Dexter, and Ann Arbor. It was built in 1964. The source information also identifies possible expansion, water billing, renovation, and garage rental options as subject to the applicable circumstances and approvals.

Key Highlights

• Three‑unit configuration with two two‑bedroom units and one one‑bedroom unit
• Located on 1.50 acres with 212 feet of road frontage
• Two units occupied on month‑to‑month leases

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,397

Cap Rate

4.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$327,940 $327.9K

Cap Rate 7%

$234,243 $234.2K

Cap Rate 9%

$182,189 $182.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$24.8K $13.80/SF

− Vacancy

−$1.4K −$0.79/SF

EGI

$23.4K $13.01/SF

− OpEx

−$7.0K −$3.90/SF

NOI

$16.4K $9.11/SF

Area

Livingston County, MI

Vacancy

5.70%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$327,940

Cap Rate 7%

$234,243

Cap Rate 9%

$182,189

Alternative Uses

Best Use

Multifamily LT 5

$234.2K

$205.0K – $273.3K (±1% cap)

NOI $16,397 @ 7.0% cap · market cap 4.37%

Second Best

Apartment 5plus

$215.4K

$188.5K – $251.3K (±1% cap)

NOI $15,076 @ 7.0% cap · market cap 4.02%

Theoretical Best

Healthcare Medical

$286.7K

$250.9K – $334.5K (±1% cap)

NOI $20,070 @ 7.0% cap · market cap 5.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

164

Businesses Nearby

Explore this area Business Placement

Demographics for 48169, MI

20,336

Population

9,045

Households

2.2

Avg Household Size

48

Median Age

39%

College-Educated

98%

High-School Grad

57.7 sq mi

ZIP Area

352

Density / Sq Mi

$108,886

Median Household Income

$58,988

Median Earnings

$1,365

Median Rent

$344,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Two two-bedroom residences and one one-bedroom residence create a compact multifamily configuration.

Where is this triplex located?

The property is located at 4987 E M 36 Hamburg Twp, MI.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Three‑unit configuration with two two‑bedroom units and one one‑bedroom unit; Located on 1.50 acres with 212 feet of road frontage; Two units occupied on month‑to‑month leases