Two-Unit Colonial
For Sale
$139,900
7536 Maxwell Avenue, Warren, MI 48091
Multifamily, 2 Story, Warren, MI
Property Size1,258 SF
Lot Size0.10 Acres
Price / SF$111.21
Days on Market16
Property Features for 7536 Maxwell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2
Subdivision
Pipers Van Dyke Sub 6
Elementary school district
Van Dyke
Middle school district
Van Dyke
High school district
Van Dyke
Directions
SOUTH OF 9 MILE / WEST OFF VAN DYKE
Standard status
Active
APN
1333228005
Size
1,258 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
PIPERS VAN DYKE SUB NO 6 LOT 1430 L.6 P.32
Tax Annual Amount
1497
Legal Description
PIPERS VAN DYKE SUB NO 6 LOT 1430 L.6 P.32
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Aluminum
Architectural style
Colonial
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(248) 380-8800
Listed By:
John P Collins · License #6501225209
(248) 252-7283
Added: Aug 31
Changed: Sep 13
Last Checked: Sep 15 at 8:06PM
MLS# 20261069970
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 two-unit residential property contains 1,258 square feet within a 1940 Colonial-style building. The lower residence has two bedrooms, while the upper residence has one bedroom; the property also includes two bathrooms and a basement. Separate utilities serve the units, supporting distinct household arrangements. Construction includes aluminum siding, with forced-air heating and public water service.
Recent improvements include new cement, a front porch, and exterior paint. The property has received recent City Rental Certification and is located on Maxwell Avenue in Warren, Michigan. Residential zoning applies to the 0.1-acre parcel.
Recent improvements include new cement, a front porch, and exterior paint. The property has received recent City Rental Certification and is located on Maxwell Avenue in Warren, Michigan. Residential zoning applies to the 0.1-acre parcel.
Key Highlights
- Two‑unit layout with a lower 2‑bedroom residence and upper 1‑bedroom residence
- 1,258 square feet on a 0.1‑acre parcel
- Separate utilities for the two residences
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
$12,350
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
8.83%
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%
$247,000
$247.0K
Cap Rate 7%
$176,429
$176.4K
Cap Rate 9%
$137,222
$137.2K
Market Conditions
NOI Build-Up for 1,258 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
$18.9K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$17.6K $14.03/SF
− OpEx
−$5.3K −$4.21/SF
NOI
$12.4K $9.82/SF
Area
Warren, 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%
$247,000
Cap Rate 7%
$176,429
Cap Rate 9%
$137,222
Alternative Uses
Best Use
Multifamily LT 5
$176.4K
$154.4K – $205.8K
NOI $12,350 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,497 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$277.5K
$242.8K – $323.8K
NOI $19,426 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Residential property with separate utilities, a basement, and recent exterior updates.
Where is this duplex located?
The property is located at 7536 Maxwell Avenue Warren, MI.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two‑unit layout with a lower 2‑bedroom residence and upper 1‑bedroom residence; 1,258 square feet on a 0.1‑acre parcel; Separate utilities for the two residences
