Remodeled Duplex with Fenced
New
For Sale
$179,900
7290 Engleman, Center Line, MI 48015
Multifamily, 2 Story, Center Line, MI
Property Size1,543 SF
Lot Size0.11 Acres
Price / SF$116.59
Days on Market3
Property Features for 7290 Engleman
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Basement, Bathroom 1, Bedroom 1
Pets allowed
Yes
Exterior features
Fenced
Fencing
Fenced
Subdivision
Centerline Urban Ren # 01
Elementary school district
Center Line
Middle school district
Center Line
High school district
Center Line
Directions
Off Van Dyke Rd, south of 11mi
Standard status
Active
APN
1321476007
Size
1,543 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
CENTER LINE URBAN RENEWAL REPLAT NO. 1 LOT 88
Tax Annual Amount
4207
Legal Description
CENTER LINE URBAN RENEWAL REPLAT NO. 1 LOT 88
Utilities
Heating system
Forced Air
Water source
Public
Amenities
fenced backyard
cement patio
laundry setup
Building Details
Year built
1924
Floors in Building
2
Number of units
2
Building materials
Vinyl
Architectural style
Bungalow
Listing Agency:
NEXGEN Realty
(810) 987-1100
Listed By:
Justin Tibble · License #3352456
(810) 987-1100
Added: Aug 24
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 20261067739
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 duplex contains 1,543 square feet on a 0.11-acre lot in Center Line. The lower residence is a two-bedroom, one-bath unit with a large kitchen, dining area, and living room. Its remodeled kitchen includes granite countertops, and the appliances remain with the property. Vinyl plank flooring and abundant natural light add to the interior improvements. The upper residence has a separate entrance, one bedroom, one bathroom, and its own kitchen; it is occupied by a long-term tenant.
A full basement provides laundry equipment serving both units, along with two water heaters, a newer furnace, a sump pump, and two updated electrical panels. The property also includes a fenced yard with a concrete patio, public water, forced-air heat, and Multi-Family zoning. Built in 1924, it is near a city park, shopping, and I-696.
A full basement provides laundry equipment serving both units, along with two water heaters, a newer furnace, a sump pump, and two updated electrical panels. The property also includes a fenced yard with a concrete patio, public water, forced-air heat, and Multi-Family zoning. Built in 1924, it is near a city park, shopping, and I-696.
Key Highlights
- 1,543‑square‑foot duplex on a 0.11‑acre lot
- Lower unit remodeled with granite kitchen countertops and appliances included
- Upper unit has a separate entrance, 1 bedroom, 1 bathroom, and a long‑term tenant
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 residential units offer separate entrances, updated interiors, and shared basement laundry facilities.
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: 1,543‑square‑foot duplex on a 0.11‑acre lot; Lower unit remodeled with granite kitchen countertops and appliances included; Upper unit has a separate entrance, 1 bedroom, 1 bathroom, and a long‑term tenant
