Updated Three-Unit
For Sale
$319,000
Pending
5734 N Gulley Rd, Dearborn Heights, MI 48127
Tenant-occupied property with renovated kitchens, a shared basement, garage, and fenced yard.
Property Size1,510 SF
Days on Market116
Property Features for 5734 N Gulley Rd
General Information
Standard status
Pending
Size
1,510 SF
Total Parking Spaces
2
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,732
Amenities
shared basement
fenced yard
Building Details
Building Size
1,510 SF
Year Built
1929
Buildings
1
Units
3
Tenancy
Multi
Listed By:
Michael Beydoun
(313) 912-5566
Source:
Elliman
Added: Jun 25
Changed: Oct 11
Last Checked: Oct 16 at 9:28AM
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 Michael Beydoun
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Investment Insights
Based on property information with market context.
This 1929 triplex contains three one-bedroom units, each currently occupied by a tenant. The property includes a shared basement, a two-car garage, a long paved driveway, and a fenced yard. Renovated kitchens are among the completed improvements.
All three leases are month-to-month, providing lease-term flexibility. Showings require 24-hour notice because of tenant occupancy. The property is located at 5734 N Gulley Rd in Dearborn Heights, with access to major roadways. Walk Score is 47 and BikeScore is 39.
All three leases are month-to-month, providing lease-term flexibility. Showings require 24-hour notice because of tenant occupancy. The property is located at 5734 N Gulley Rd in Dearborn Heights, with access to major roadways. Walk Score is 47 and BikeScore is 39.
Key Highlights
- Three one‑bedroom units in a triplex built in 1929
- All three units are fully tenant occupied with month‑to‑month leases
- Renovated kitchens and shared basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,824
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,480
$296.5K
Cap Rate 7%
$211,771
$211.8K
Cap Rate 9%
$164,711
$164.7K
Market Conditions
NOI Build-Up for 1,510 SF
Gross rent
$22.7K $15.00/SF
− Vacancy
−$1.5K −$0.98/SF
EGI
$21.2K $14.03/SF
− OpEx
−$6.4K −$4.21/SF
NOI
$14.8K $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%
$296,480
Cap Rate 7%
$211,771
Cap Rate 9%
$164,711
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.3K – $247.1K
NOI $14,824 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$194.5K
$170.2K – $226.9K
NOI $13,613 @ 7.0% cap · market cap 4.27%
Theoretical Best
Specialty Retail
$279.6K
$244.6K – $326.2K
NOI $19,570 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 48127, MI
41,222
Population
14,616
Households
2.8
Avg Household Size
35
Median Age
29%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
5,354
Density / Sq Mi
$63,084
Median Household Income
$35,340
Median Earnings
$1,231
Median Rent
$217,000
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
Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied property with renovated kitchens, a shared basement, garage, and fenced yard.
Where is this triplex located?
The property is located at 5734 N Gulley Rd Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Three one‑bedroom units in a triplex built in 1929; All three units are fully tenant occupied with month‑to‑month leases; Renovated kitchens and shared basement
