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 Market17
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
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 26 at 3:06PM
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.
This 1,955-square-foot duplex was built in 1927 and contains two residential units within a two-story configuration. The first-floor residence offers 3 bedrooms, 1 bathroom, and living and dining areas; the upper unit includes 2 bedrooms and 1 bathroom. A full basement provides additional storage and flexible space associated with each unit. Separate electrical and gas meters, washers and dryers, forced-air heating, and central air conditioning support independent unit operations. An attached garage provides off-street parking.
The property sits on a 0.12-acre lot in Dearborn, with public water service, an asphalt roof, and aluminum and vinyl exterior materials. Zoning is designated Multi-Family, Residential. Both units are occupied by long-term tenants on month-to-month leases, with lease execution or vacancy available by closing.
The property sits on a 0.12-acre lot in Dearborn, with public water service, an asphalt roof, and aluminum and vinyl exterior materials. Zoning is designated Multi-Family, Residential. Both units are occupied by long-term tenants on month-to-month leases, with lease execution or vacancy available by closing.
Key Highlights
- 1,955 square feet across two residential units
- First‑floor unit with 3 bedrooms and 1 bathroom
- Second‑floor unit with 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 utilities and central HVAC serve each unit, with basement storage and off-street parking.
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 two residential units; First‑floor unit with 3 bedrooms and 1 bathroom; Second‑floor unit with 2 bedrooms and 1 bathroom
