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    7239 Barrie Street Dearborn, MI 48126

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    For Sale
    $349,900

    MULTI_FAMILY - Other - Dearborn, MI

    Property size:
    1,912 SF
    Price / SF:
    $183/SF
    Added:
    May 1, 2026
    Days on Market:
    4
    Last Refresh:
    May 4 at 12:06 am

    Property Features for 7239 Barrie Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bathrooms
    2
    Rooms
    Basement, Bathroom 2, Bathroom 1
    Parking
    2
    Pets allowed
    Yes
    Standard status
    Active
    APN
    32821006331021
    Size
    1,912 SF

    Taxes and HOA fees

    Tax Description
    LOT 90 INCLUDING HALF OF THE VACATED ALLEY IN THE REAR THEREOF WARREN VINEYARDS SUB
    Tax Annual Amount
    3315

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Zainab Jaafar-Chami
    Zainab Jaafar-Chami

    Listing agent Zainab Jaafar-Chami License #6501416020

    Listing office RE/MAX Classic 42078 Ford Rd, Farmington Hills, MI

    Listing date May 1, 2026

    MLS# 20261024637 Listing URL

    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.

    Overview

    Renovated Dearborn Duplex Opportunity

    This fully renovated multifamily duplex in Dearborn, MI, presents a move-in ready opportunity for both buyers and investors. The two-unit property is situated in a convenient Dearborn location, close to shopping, coffee shops, restaurants, and everyday amenities, with access to Dearborn Public Schools. Each of the two separate units features 2 bedrooms, 1 full bathroom, and its own kitchen, making it suitable for rental income, owner-occupant living, or multi-generational use. Renovated in 2026, updates include new kitchens with granite countertops, updated bathrooms, LVP flooring throughout, fresh paint, updated electrical and plumbing, newer windows including the upper unit and additional replaced windows, a new furnace, new roof, new gutters, new soffits, new appliances, and two new water heaters. Each unit offers a bright and functional layout with great natural light and comfortable living space. The property also includes an unfinished basement for storage and a detached 2-car garage. A fenced yard provides additional outdoor space. Located near Warren Ave and Chase Rd, the home offers convenient access to shopping, dining, coffee shops, parks, and schools. The property size is 1912 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.193375
    Latitude
    42.344414

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    FAQs

    What type of property is this?
    Duplex - Move-in ready, renovated duplex in a convenient Dearborn location.
    Where is this duplex located?
    The property is located at 7239 Barrie 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: Fully renovated in 2026, ensuring a move‑in ready, turn‑key property.; Two separate units, each with 2 bedrooms, 1 full bathroom, and a kitchen, ideal for rental income or multi‑generational living.; New roof, furnace, gutters, soffits, appliances, and two new water heaters.
    (248) 737-6800
    We can help!
    Listing Contact
    Zainab Jaafar-Chami
    Zainab Jaafar-Chami
    Real Estate License ID: 6501416020
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    7239 Barrie Street, Dearborn, MI 48126

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