Two-Unit Duplex with Private
New
For Sale
$205,000
67 Miller Street, Mount Clemens, MI 48043
MULTI_FAMILY - Other - Mt. Clemens, MI
Property Size1,410 SF
Lot Size0.12 Acres
Price / SF$145.39
Days on Market1
Property Features for 67 Miller Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Basement
Subdivision
Stephens Add
Elementary school district
Mount Clemens
Middle school district
Mount Clemens
High school district
Mount Clemens
Directions
W of Gratiot, S of Cass
Standard status
Active
APN
1114177004
Size
1,410 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
STEPHENS ADDITION BLOCK 1 N 42 1/2 FT OF THE S 80 FT OF LOTS 2 & 3.
Tax Annual Amount
4870
Legal Description
STEPHENS ADDITION BLOCK 1 N 42 1/2 FT OF THE S 80 FT OF LOTS 2 & 3.
Utilities
Heating system
Forced Air
Water source
Public
Amenities
washer/dryer
backyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty-Great Lakes
(586) 541-4000
Listed By:
Garrett M Hayden
(586) 541-4000
Added: Aug 12
Last Checked: Aug 12 at 10:06PM
MLS# 20261062972
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-unit duplex provides 1,410 square feet across two residential units. The lower apartment includes two bedrooms, a full bathroom, kitchen with dining space, and an open living area; the upper unit offers a comparable living and kitchen arrangement. Each unit is equipped with its own forced-air furnace and central air conditioning. Appliances remain in both apartments, and the shared basement adds storage along with laundry equipment.
The property occupies 0.12 acres at 67 Miller Street in Mt. Clemens, Michigan. Both units have tenants, and the property is zoned Multi-Family. Additional physical details include aluminum construction, an asphalt roof, public water service, a fenced rear yard, and a 1900 construction date.
The property occupies 0.12 acres at 67 Miller Street in Mt. Clemens, Michigan. Both units have tenants, and the property is zoned Multi-Family. Additional physical details include aluminum construction, an asphalt roof, public water service, a fenced rear yard, and a 1900 construction date.
Key Highlights
- Two‑unit duplex totaling 1,410 Square Feet
- 0.12‑acre lot at 67 Miller Street, Mt. Clemens, MI 48043
- Both units have separate forced‑air furnaces and central air conditioning
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
$14,926
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
7.28%
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%
$298,520
$298.5K
Cap Rate 7%
$213,229
$213.2K
Cap Rate 9%
$165,844
$165.8K
Market Conditions
NOI Build-Up for 1,410 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
$22.8K $16.20/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$21.3K $15.12/SF
− OpEx
−$6.4K −$4.54/SF
NOI
$14.9K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /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%
$298,520
Cap Rate 7%
$213,229
Cap Rate 9%
$165,844
Alternative Uses
Best Use
Multifamily LT 5
$213.2K
$186.6K – $248.8K
NOI $14,926 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$189.2K
$165.5K – $220.7K
NOI $13,242 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$264.0K
$231.0K – $308.0K
NOI $18,478 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
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 - Income-producing duplex with separate HVAC systems, shared basement storage, and a fenced backyard.
Where is this duplex located?
The property is located at 67 Miller Street Mount Clemens, MI.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,410 Square Feet; 0.12‑acre lot at 67 Miller Street, Mt. Clemens, MI 48043; Both units have separate forced‑air furnaces and central air conditioning
