Well-Maintained Multifamily
For Sale
$319,000
6242 Calhoun St, Dearborn, MI 48126
A 4-bedroom, 2.5-bath multifamily home with side entrance, two walk-in closets, and recently updated water heater and furnace.
Property Size2,676 SF
Price / SF$119.21
Days on Market110
Property Features for 6242 Calhoun St
General Information
Standard status
Active
Size
2,676 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1926
Listing Agency:
EXP Realty Main
Listed By:
Aneesa Al Najjar
(888) 501-7085
Source:
Vmrealestatemichigan
Added: May 30
Changed: Sep 9
Last Checked: Sep 15 at 12:07PM
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 well-maintained multifamily home offers a versatile layout with four bedrooms and 2.5 baths. The property includes bright interiors and functional floor plans, along with a convenient side entrance and two walk-in closets. Updates include a new water heater and a new furnace.
The home is located at 6242 Calhoun St in Dearborn, with proximity to schools, parks, shopping, dining, and major highways as noted in the listing remarks.
An ideal fit for tenants and owners looking for a residential income property configuration in a walkable, bikeable setting.
The home is located at 6242 Calhoun St in Dearborn, with proximity to schools, parks, shopping, dining, and major highways as noted in the listing remarks.
An ideal fit for tenants and owners looking for a residential income property configuration in a walkable, bikeable setting.
Key Highlights
- 1926‑built 4‑bed, 2.5‑bath multifamily home at 6242 Calhoun Street in Dearborn.
- Side entrance and versatile layout suited for owner‑occupants, multigenerational living, or investors.
- Two walk‑in closets.
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
$26,272
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
8.24%
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%
$525,440
$525.4K
Cap Rate 7%
$375,314
$375.3K
Cap Rate 9%
$291,911
$291.9K
Market Conditions
NOI Build-Up for 2,676 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
$40.1K $15.00/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$37.5K $14.03/SF
− OpEx
−$11.3K −$4.21/SF
NOI
$26.3K $9.82/SF
Area
Dearborn, 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 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%
$525,440
Cap Rate 7%
$375,314
Cap Rate 9%
$291,911
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.9K
NOI $26,272 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$343.2K
$300.3K – $400.4K
NOI $24,022 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$590.3K
$516.6K – $688.7K
NOI $41,324 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,000
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
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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 - A 4-bedroom, 2.5-bath multifamily home with side entrance, two walk-in closets, and recently updated water heater and furnace.
Where is this duplex located?
The property is located at 6242 Calhoun St Dearborn, 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: 1926‑built 4‑bed, 2.5‑bath multifamily home at 6242 Calhoun Street in Dearborn.; Side entrance and versatile layout suited for owner‑occupants, multigenerational living, or investors.; Two walk‑in closets.
