Two-Unit Multifamily
New
For Sale
$269,999
7313 Emanon St, Dearborn, MI 48126
Updated two-story layout with private basements and separate living spaces.
Property Size2,208 SF
Days on Market3
Property Features for 7313 Emanon St
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,818
Building Details
Building Size
2,208 SF
Year Built
1927
Buildings
1
Stories
2
Units
2
Construction
colonial-style
Listing Agency:
keller williams legacy
(313) 403-0011
Listed By:
Michael M Phillips · License #6502387592
(313) 403-0011
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 6:38AM
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 keller williams legacy
Investment Insights
Based on property information with market context.
This two-story multifamily property contains two separate residences, each arranged with three bedrooms, one full bathroom, a kitchen, and a dedicated dining area. Both units have been freshly painted and include private basements for storage and utility space. The first unit has central A/C, while the second currently does not. A new water heating system is included for the first unit and is awaiting installation.
Property improvements include a new roof installed in 2022 and gutters addressed during the same year. Built in 1927, the residence is located at 7313 Emanon St in Dearborn, near shopping, dining, schools, and everyday amenities. WalkScore is 0, BikeScore is 47, and TransitScore is 41.
Property improvements include a new roof installed in 2022 and gutters addressed during the same year. Built in 1927, the residence is located at 7313 Emanon St in Dearborn, near shopping, dining, schools, and everyday amenities. WalkScore is 0, BikeScore is 47, and TransitScore is 41.
Key Highlights
- Two separate units, each with 3 bedrooms, 1 full bathroom, kitchen, and dining area
- Private basement included with each unit
- New roof installed in 2022; gutters addressed in 2022
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
$21,677
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
8.03%
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%
$433,540
$433.5K
Cap Rate 7%
$309,671
$309.7K
Cap Rate 9%
$240,856
$240.9K
Market Conditions
NOI Build-Up for 2,208 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
$33.1K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.0K $14.03/SF
− OpEx
−$9.3K −$4.21/SF
NOI
$21.7K $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%
$433,540
Cap Rate 7%
$309,671
Cap Rate 9%
$240,856
Alternative Uses
Best Use
Multifamily LT 5
$309.7K
$271.0K – $361.3K
NOI $21,677 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$283.1K
$247.8K – $330.3K
NOI $19,820 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$487.1K
$426.2K – $568.3K
NOI $34,097 @ 7.0% cap · market cap 12.63%
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
551
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 - Updated two-story layout with private basements and separate living spaces.
Where is this duplex located?
The property is located at 7313 Emanon St Dearborn, MI.
What is the asking price?
The asking price for this property is $269,999.
What are key features of this property?
This property features: Two separate units, each with 3 bedrooms, 1 full bathroom, kitchen, and dining area; Private basement included with each unit; New roof installed in 2022; gutters addressed in 2022
