Two-Unit Duplex with Separate
For Sale
$349,900
7053 Reuter St, Dearborn, MI 48126
Two independently metered units include dedicated heating and cooling, basement space, and garage parking.
Property Size1,955 SF
Days on Market57
Property Features for 7053 Reuter St
General Information
Standard status
Active
Size
1,955 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,819
Amenities
basement storage
separate washer & dryer
garage
Building Details
Building Size
1,955 SF
Year Built
1927
Buildings
1
Stories
2
Units
2
Listing Agency:
KW Domain Birmingham
Listed By:
Laith Alkhafaji
(248) 667-2754
Source:
Elliman
Added: Aug 11
Changed: Oct 6
Last Checked: Oct 5 at 6:25PM
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 KW Domain Birmingham
Investment Insights
Based on property information with market context.
This two-story duplex at 7053 Reuter St in Dearborn, Michigan, contains two separate residential units with distinct layouts. The first-floor unit includes 3 bedrooms, 1 bathroom, and combined living and dining areas. The upper unit offers 2 bedrooms and 1 bathroom. Each unit has its own electrical meter, gas meter, central heat, and air conditioning, along with separate washer and dryer equipment.
A full basement provides additional storage and flexible space associated with each unit, while the garage offers off-street parking. Built in 1927, the property is currently occupied by long-term tenants under month-to-month leases. A Walk Score of 95 and Bike Score of 52 provide additional context for the surrounding setting.
A full basement provides additional storage and flexible space associated with each unit, while the garage offers off-street parking. Built in 1927, the property is currently occupied by long-term tenants under month-to-month leases. A Walk Score of 95 and Bike Score of 52 provide additional context for the surrounding setting.
Key Highlights
- Two‑story duplex with 3‑bedroom and 2‑bedroom units
- Separate electrical and gas meters for each unit
- Individual central heat and AC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,193
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,860
$383.9K
Cap Rate 7%
$274,186
$274.2K
Cap Rate 9%
$213,256
$213.3K
Market Conditions
NOI Build-Up for 1,955 SF
Gross rent
$29.3K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.4K $14.03/SF
− OpEx
−$8.2K −$4.21/SF
NOI
$19.2K $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%
$383,860
Cap Rate 7%
$274,186
Cap Rate 9%
$213,256
Alternative Uses
Best Use
Multifamily LT 5
$274.2K
$239.9K – $319.9K
NOI $19,193 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$250.7K
$219.4K – $292.5K
NOI $17,549 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$431.3K
$377.4K – $503.2K
NOI $30,190 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
860
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
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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 - Two independently metered units include dedicated heating and cooling, basement space, and garage parking.
Where is this duplex located?
The property is located at 7053 Reuter St Dearborn, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑story duplex with 3‑bedroom and 2‑bedroom units; Separate electrical and gas meters for each unit; Individual central heat and AC systems
