Remodeled Duplex with
New
For Sale
$179,900
7290 Engleman, Center Line, MI 48015
Two separate residences offer distinct layouts, shared laundry facilities, and a fenced backyard with a cement patio.
Property Size1,543 SF
Price / SF$116.59
Days on Market6
Property Features for 7290 Engleman
General Information
Standard status
Active
Size
1,543 SF
Property subtype
Multi-Family
Units
Unit Mix
1B/1B, 2B/1B
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced in back yard
cement patio
Building Details
Year Built
1924
Listing Agency:
Ilink Real Estate Co.
(989) 214-2240
Listed By:
Beyond MI Realty · License #6501337919
(989) 214-2240
Source:
Beyondmirealty
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 4:24PM
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 Ilink Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1924, this duplex includes a remodeled first-floor residence with a new kitchen, granite countertops, included appliances, vinyl plank flooring, and abundant natural light. The lower unit has two bedrooms, one bathroom, and a large kitchen connected to dining and living areas. The upper residence provides one bedroom, one bathroom, a kitchen, and its own entrance.
A full basement contains laundry equipment serving both units, two water heaters, a newer furnace, a sump pump, and two updated electrical panels. The property also includes a fenced backyard and cement patio. Located at 7290 Engleman in Center Line, the home is within walking distance of a city park, near shopping and highway 696, and has a Walk Score of 57 and Bike Score of 53.
A full basement contains laundry equipment serving both units, two water heaters, a newer furnace, a sump pump, and two updated electrical panels. The property also includes a fenced backyard and cement patio. Located at 7290 Engleman in Center Line, the home is within walking distance of a city park, near shopping and highway 696, and has a Walk Score of 57 and Bike Score of 53.
Key Highlights
- Remodeled first‑floor unit with new kitchen, granite countertops, appliances, and vinyl plank flooring
- Upper unit includes 1B/1B layout, kitchen, separate entrance, and a long‑term tenant
- Lower unit offers 2B/1B configuration with large kitchen, dining area, and living room
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
$16,334
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
9.08%
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%
$326,680
$326.7K
Cap Rate 7%
$233,343
$233.3K
Cap Rate 9%
$181,489
$181.5K
Market Conditions
NOI Build-Up for 1,543 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
$25.0K $16.20/SF
− Vacancy
−$1.7K −$1.08/SF
EGI
$23.3K $15.12/SF
− OpEx
−$7.0K −$4.54/SF
NOI
$16.3K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /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%
$326,680
Cap Rate 7%
$233,343
Cap Rate 9%
$181,489
Alternative Uses
Best Use
Multifamily LT 5
$233.3K
$204.2K – $272.2K
NOI $16,334 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$207.0K
$181.1K – $241.5K
NOI $14,491 @ 7.0% cap · market cap 8.06%
Theoretical Best
Specialty Retail
$288.9K
$252.8K – $337.0K
NOI $20,221 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 48015, MI
8,552
Population
3,789
Households
2.3
Avg Household Size
42
Median Age
19%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
4,751
Density / Sq Mi
$52,857
Median Household Income
$45,326
Median Earnings
$627
Median Rent
$145,300
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 - Two separate residences offer distinct layouts, shared laundry facilities, and a fenced backyard with a cement patio.
Where is this duplex located?
The property is located at 7290 Engleman Center Line, MI.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Remodeled first‑floor unit with new kitchen, granite countertops, appliances, and vinyl plank flooring; Upper unit includes 1B/1B layout, kitchen, separate entrance, and a long‑term tenant; Lower unit offers 2B/1B configuration with large kitchen, dining area, and living room
