Two-Unit Residential Income
For Sale
$329,900
Pending
6911 APPOLINE St, Dearborn, MI 48126
Well-maintained duplex with two separate 2-bedroom units, each with full bath and kitchen, providing flexibility for living or renting.
Property Size2,601 SF
Days on Market64
Property Features for 6911 APPOLINE St
General Information
Standard status
Pending
Size
2,601 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,913
Building Details
Building Size
2,601 SF
Year Built
1928
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Ray Alsaghir · License #6501373949
(313) 561-0900
Source:
Elliman
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 20 at 10:20AM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This well-maintained two-unit residential property features two separate 2-bedroom units, each with a functional layout that includes spacious living areas, well-sized bedrooms, a full bathroom, and a kitchen with ample cabinet space. The units are designed for privacy and convenience with separate entrances. Depending on the unit layout, parking and outdoor space may be shared or dedicated, giving residents practical day-to-day options.
The property is conveniently located near schools, shopping, public transportation, and major roadways, supporting easy access for both tenants and owner-occupants. Walk Score is listed as 80 (Very Walkable) and Bike Score is listed as 50 (Bikeable), which may be relevant for day-to-day mobility.
From an occupancy standpoint, the arrangement can suit an investor seeking rental income or an owner-occupant who wants to live in one unit while renting the other. The property is currently leased for $2,500 a month, providing a defined income reference point for buyers evaluating current tenancy.
The property is conveniently located near schools, shopping, public transportation, and major roadways, supporting easy access for both tenants and owner-occupants. Walk Score is listed as 80 (Very Walkable) and Bike Score is listed as 50 (Bikeable), which may be relevant for day-to-day mobility.
From an occupancy standpoint, the arrangement can suit an investor seeking rental income or an owner-occupant who wants to live in one unit while renting the other. The property is currently leased for $2,500 a month, providing a defined income reference point for buyers evaluating current tenancy.
Key Highlights
- Built in 1928, well‑maintained two‑unit residential property
- Two separate 2‑bedroom units, each with a full bathroom and kitchen with ample cabinet space
- Separate entrances provide privacy and convenience 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
$25,535
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
7.74%
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%
$510,700
$510.7K
Cap Rate 7%
$364,786
$364.8K
Cap Rate 9%
$283,722
$283.7K
Market Conditions
NOI Build-Up for 2,601 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
$39.0K $15.00/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$36.5K $14.03/SF
− OpEx
−$10.9K −$4.21/SF
NOI
$25.5K $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%
$510,700
Cap Rate 7%
$364,786
Cap Rate 9%
$283,722
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,535 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$333.5K
$291.9K – $389.1K
NOI $23,348 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$573.8K
$502.1K – $669.4K
NOI $40,165 @ 7.0% cap · market cap 12.17%
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
900
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 - Well-maintained duplex with two separate 2-bedroom units, each with full bath and kitchen, providing flexibility for living or renting.
Where is this duplex located?
The property is located at 6911 APPOLINE St Dearborn, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Built in 1928, well‑maintained two‑unit residential property; Two separate 2‑bedroom units, each with a full bathroom and kitchen with ample cabinet space; Separate entrances provide privacy and convenience for each unit
