Two-Story Duplex with Fenced
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 Market64
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 2, Basement, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2
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, Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
walk-in closets
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: Sep 3
Last Checked: Sep 10 at 8:06PM
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 two-story duplex at 6242 Calhoun Street contains 1,812 square feet on a 0.11-acre lot. The four-bedroom, 2.5-bathroom layout includes bright interiors, functional floor plans, a side entrance, two walk-in closets, and a basement. A new water heater and new furnace add recent mechanical updates, while forced-air heating and central air support year-round comfort. Additional features include laundry facilities, aluminum construction, an asphalt roof, and a fenced exterior.
The property is in Dearborn, Michigan, near schools, parks, shopping, dining, and major highways. Public water serves the property, and the zoning is Multi-Family. Built in 1926, the home offers a duplex configuration suited to owner occupancy, multigenerational living, or rental use. The buyer shall assume all city-required repairs.
The property is in Dearborn, Michigan, near schools, parks, shopping, dining, and major highways. Public water serves the property, and the zoning is Multi-Family. Built in 1926, the home offers a duplex configuration suited to owner occupancy, multigenerational living, or rental use. The buyer shall assume all city-required repairs.
Key Highlights
- 1,812 SF duplex on a 0.11‑acre lot
- Four bedrooms and 2.5 bathrooms across a two‑story layout
- New water heater and new furnace
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
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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 - Multifamily property with flexible living arrangements, updated mechanical equipment, and a side entrance.
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: 1,812 SF duplex on a 0.11‑acre lot; Four bedrooms and 2.5 bathrooms across a two‑story layout; New water heater and new furnace
