Listing Agency: EXP Realty Main m***@exprealty.net Show Phone

Listed By: Zaid Kassab Show Phone

Source: Exprealty

Added: Sep 21 Changed: Oct 4 Last Checked: Oct 5 at 11:20PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,618

Cap Rate

8.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,360 $412.4K

Cap Rate 7%

$294,543 $294.5K

Cap Rate 9%

$229,089 $229.1K

Market Conditions

NOI Build-Up for 2,256 SF

Gross rent

$39.8K $17.64/SF

− Vacancy

−$2.3K −$1.02/SF

EGI

$37.5K $16.62/SF

− OpEx

−$16.9K −$7.48/SF

NOI

$20.6K $9.14/SF

Area

Warren, MI

Vacancy

5.80%

Lease Rate

$17.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,360

Cap Rate 7%

$294,543

Cap Rate 9%

$229,089

Alternative Uses

Best Use

Multifamily LT 5

$316.4K

$276.9K – $369.1K (±1% cap)

NOI $22,148 @ 7.0% cap · market cap 9.23%

Second Best

Apartment 5plus

$294.5K

$257.7K – $343.6K (±1% cap)

NOI $20,618 @ 7.0% cap · market cap 8.59%

Theoretical Best

Office A

$497.7K

$435.5K – $580.6K (±1% cap)

NOI $34,838 @ 7.0% cap · market cap 14.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Dental Office Skin Care Clinic Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

479

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

Where is this duplex located?

The property is located at 7542 Meadow Ave Warren, MI.

What is the asking price?

The asking price for this property is $239,900.