Four-Unit Brick
6635 Appoline St, Dearborn, MI 48126
For Sale
New
$375,000
Pending
Four separate entrances and individually metered utilities support distinct household setups across the property.
Property Size2,160 SF
Days on Market2
Property Features for 6635 Appoline St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Construction
Listing Agency:
EXP Realty, LLC
Listed By:
Rudy Acuna · License MI #6501395903
(888) 501-7085
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:40PM
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, LLC
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Investment Insights
Based on property information with market context.
This brick quadplex, built in 1927, contains four residences: two with two bedrooms, one with one bedroom, and a studio. Each has a private entrance. Interiors include hardwood floors, refreshed kitchens, newer carpeting and paint, and updated bathrooms. Separate furnaces, hot water systems, and electric meters serve each residence.
The studio and one-bedroom apartment are tenant-occupied; the two-bedroom units are vacant. The property is at 6635 Appoline St in Dearborn, Michigan. Its Walk Score is 70 and Bike Score is 49.
The studio and one-bedroom apartment are tenant-occupied; the two-bedroom units are vacant. The property is at 6635 Appoline St in Dearborn, Michigan. Its Walk Score is 70 and Bike Score is 49.
Key Highlights
- Four residences: two 2‑bedroom units, one 1‑bedroom unit, and one studio
- Brick property built in 1927
- Private entrance for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,206
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,120
$424.1K
Cap Rate 7%
$302,943
$302.9K
Cap Rate 9%
$235,622
$235.6K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$32.4K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$30.3K $14.03/SF
− OpEx
−$9.1K −$4.21/SF
NOI
$21.2K $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 Rate 5%
$424,120
Cap Rate 7%
$302,943
Cap Rate 9%
$235,622
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.1K – $353.4K
NOI $21,206 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$277.0K
$242.4K – $323.2K
NOI $19,390 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$476.5K
$416.9K – $555.9K
NOI $33,355 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
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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
$200,600
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Wayne County, MI
Properties on Market for Quadplexes in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate entrances and individually metered utilities support distinct household setups across the property.
Where is this quadplex located?
The property is located at 6635 Appoline St Dearborn, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four residences: two 2‑bedroom units, one 1‑bedroom unit, and one studio; Brick property built in 1927; Private entrance for each unit
