Duplex with Side
For Sale
$319,000
6242 Calhoun Street, Dearborn, MI 48126
Multifamily, 2 Story, Dearborn, MI
Property Size1,812 SF
Lot Size0.11 Acres
Price / SF$176.05
Days on Market49
Property Features for 6242 Calhoun Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement
Parking
2
Pets allowed
Yes
Interior features
Laundry Facility
Exterior features
Fenced
Fencing
Fenced
Subdivision
Oakman Oakman Blvd & Schaefer Ave 1
Elementary school district
Dearborn
Middle school district
Dearborn
High school district
Dearborn
Directions
From Schaefer Rd Turn Onto Hemlock Ave Then To Calhoun House Is On Right
Standard status
Active
APN
32821008302011
Size
1,812 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 147 ROBT OAKMANS OAKMAN BLVD & SCHAEFER AVE SUB NO 1
Tax Annual Amount
3476
Legal Description
LOT 147 ROBT OAKMANS OAKMAN BLVD & SCHAEFER AVE SUB NO 1
Utilities
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
Aneesa Al Najjar
(313) 690-9229
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 26 at 7:06PM
MLS# 20261052190
Copyright © 2026 Realcomp Limited II. 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 duplex at 6242 Calhoun Street includes a versatile layout with a convenient side entrance and two walk-in closets. The home features a laundry facility and bedrooms and bathrooms arranged across the property’s interior spaces, plus a basement.
Key building and utility details include forced-air heating and multiple cooling options, including window unit(s), ceiling fans, and central air. Exterior features include fencing, and construction elements include aluminum materials with an asphalt roof. Public water service is available.
The property was built in 1926 and includes updates noted as a new water heater and new furnace. The buyer will need to assume all city-required repairs. An open house is scheduled for Saturday, July 11, 2026, from 1:00 PM to 4:00 PM.
Key building and utility details include forced-air heating and multiple cooling options, including window unit(s), ceiling fans, and central air. Exterior features include fencing, and construction elements include aluminum materials with an asphalt roof. Public water service is available.
The property was built in 1926 and includes updates noted as a new water heater and new furnace. The buyer will need to assume all city-required repairs. An open house is scheduled for Saturday, July 11, 2026, from 1:00 PM to 4:00 PM.
Key Highlights
- 0.11‑acre lot with fenced exterior
- 1,812 SF duplex built in 1926
- Side entrance plus 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
$17,789
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
5.58%
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%
$355,780
$355.8K
Cap Rate 7%
$254,129
$254.1K
Cap Rate 9%
$197,656
$197.7K
Market Conditions
NOI Build-Up for 1,812 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
$27.2K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$25.4K $14.03/SF
− OpEx
−$7.6K −$4.21/SF
NOI
$17.8K $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%
$355,780
Cap Rate 7%
$254,129
Cap Rate 9%
$197,656
Alternative Uses
Best Use
Multifamily LT 5
$254.1K
$222.4K – $296.5K
NOI $17,789 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$232.4K
$203.3K – $271.1K
NOI $16,266 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$399.7K
$349.8K – $466.4K
NOI $27,981 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Duplex with forced-air heating, central air, laundry facility, and fenced outdoor area.
Where is this duplex located?
The property is located at 6242 Calhoun Street 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: 0.11‑acre lot with fenced exterior; 1,812 SF duplex built in 1926; Side entrance plus two walk‑in closets
