Building Details

Year Built 9999

Listing Agency: Berkshire Hathaway Homeservices Kee Realty Browns Show Phone

Listed By: NextHome Evolution Show Phone

Source: Nhevolutionmi

Added: Jul 26 Changed: Aug 29 Last Checked: Aug 26 at 12:48PM

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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 Berkshire Hathaway Homeservices Kee Realty Browns

Investment Insights

Based on property information with market context.

Located in Ann Arbor, this duplex sits on 3 acres and contains two separate residential units. Each unit includes 2 bedrooms and 1 bath, with enclosed porch space and its own washer and dryer. One residence has both enclosed front and back porches, while the other includes an enclosed back porch.

Between the units, a large area with a full bath provides additional room for recreation or storage. The property also includes a detached garage, a newer roof, and space suited to residential use. Septic tank and field replacement are the buyer’s responsibility, and the sale is cash only.

Key Highlights

• Duplex on 3 acres in Ann Arbor
• Two units, each with 2 bedrooms/1 bath
• Individual washer/dryer for each unit

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

$24,650

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

5.80%

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%

$493,000 $493.0K

Cap Rate 7%

$352,143 $352.1K

Cap Rate 9%

$273,889 $273.9K

Market Conditions

NOI Build-Up for 2,706 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

$37.3K $13.80/SF

− Vacancy

−$2.1K −$0.79/SF

EGI

$35.2K $13.01/SF

− OpEx

−$10.6K −$3.90/SF

NOI

$24.6K $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 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%

$493,000

Cap Rate 7%

$352,143

Cap Rate 9%

$273,889

Alternative Uses

Best Use

Multifamily LT 5

$352.1K

$308.1K – $410.8K (±1% cap)

NOI $24,650 @ 7.0% cap · market cap 5.80%

Second Best

Apartment 5plus

$323.8K

$283.3K – $377.7K (±1% cap)

NOI $22,664 @ 7.0% cap · market cap 5.33%

Theoretical Best

Healthcare Medical

$431.0K

$377.2K – $502.9K (±1% cap)

NOI $30,172 @ 7.0% cap · market cap 7.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Garden Center Storage Facility Real Estate Agency Gym & Fitness Center Pet Grooming Service

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 48105, MI

38,883

Population

16,773

Households

2.3

Avg Household Size

30

Median Age

82%

College-Educated

98%

High-School Grad

49.5 sq mi

ZIP Area

786

Density / Sq Mi

$94,737

Median Household Income

$45,516

Median Earnings

$1,603

Median Rent

$485,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units include enclosed porches, individual laundry, and flexible shared space with a full bath.

Where is this duplex located?

The property is located at 6272 Earhart Rd Northfield Twp, MI.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Duplex on 3 acres in Ann Arbor; Two units, each with 2 bedrooms/1 bath; Individual washer/dryer for each unit