Two-Story Duplex with
For Sale
$349,900
7053 Reuter Street, Dearborn, MI 48126
Multifamily, 2 Story, Dearborn, MI
Property Size1,955 SF
Lot Size0.12 Acres
Price / SF$178.98
Days on Market11
Property Features for 7053 Reuter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
2
Pets allowed
Call
Subdivision
Robert Oakman & John H Walsh Felician Park
Elementary school district
Dearborn
Middle school district
Dearborn
High school district
Dearborn
Directions
S of Warren Ave / E of Schaefer
Standard status
Active
APN
32821008104020
Size
1,955 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
LOT 26 ROBERT OAKMAN & JOHN H WALSH FELICIAN PARK SUB
Tax Annual Amount
4819
Legal Description
LOT 26 ROBERT OAKMAN & JOHN H WALSH FELICIAN PARK SUB
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
separate washer & dryer
central heat and AC
Building Details
Year built
1927
Floors in Building
2
Number of units
2
Building materials
Aluminum, Vinyl
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Domain · Keller Williams Realty
(248) 590-0800
Listed By:
Laith Alkhafaji
(248) 667-2754
Added: Aug 10
Changed: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# 20261059542
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.
Located at 7053 Reuter Street in Dearborn, this two-story duplex contains 1,955 square feet and was built in 1927. The first-floor residence offers three bedrooms, one bathroom, and connected living and dining areas, while the upper unit includes two bedrooms and one bathroom. A full basement adds storage and flexible utility space, and the property includes a garage for off-street parking.
Each unit has its own central heat and AC, electrical meter, gas meter, and washer and dryer. The building has aluminum and vinyl construction, an asphalt roof, forced-air heating, central air, and public water service. Zoned Multi-Family,Residential, the property is currently occupied by long-term tenants under month-to-month leases. Tenants may sign a lease or vacate by closing.
Each unit has its own central heat and AC, electrical meter, gas meter, and washer and dryer. The building has aluminum and vinyl construction, an asphalt roof, forced-air heating, central air, and public water service. Zoned Multi-Family,Residential, the property is currently occupied by long-term tenants under month-to-month leases. Tenants may sign a lease or vacate by closing.
Key Highlights
- 1,955 square feet across a two‑story duplex
- First‑floor unit: 3 bedrooms and 1 bathroom
- Second‑floor unit: 2 bedrooms and 1 bathroom
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
$19,193
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
5.49%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - Separate heating, cooling, electrical, and gas systems support flexible ownership or leasing arrangements.
Where is this duplex located?
The property is located at 7053 Reuter Street 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: 1,955 square feet across a two‑story duplex; First‑floor unit: 3 bedrooms and 1 bathroom; Second‑floor unit: 2 bedrooms and 1 bathroom
