Renovated Duplex with
For Sale
$989,000
908 Spring St, Ann Arbor, MI 48103
Fully furnished units feature updated kitchens, hardwood floors, and private basement laundry.
Property Size2,225 SF
Price / SF$444.49
Days on Market151
Property Features for 908 Spring St
General Information
Standard status
Active
Size
2,225 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Neighborhood
Water Hill Neighbors Association
Amenities
front yard
rear yard
covered back porch
Building Details
Year Built
1951
Tenancy
Multi
Listing Agency:
Base Property Group
Listed By:
Erika Tatum
(734) 502-9622
Source:
Metrodetroithomeguide
Added: Jun 7
Changed: Nov 1
Last Checked: Nov 3 at 6:42AM
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 Base Property Group
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Investment Insights
Based on property information with market context.
This fully renovated duplex at 908 Spring St. contains two side-by-side residences, each with 2 bedrooms, 1 full bath, an open kitchen and dining area, and a spacious living room. Both units include hardwood flooring, ample bedroom storage, and a large basement with laundry. The property is offered fully furnished and includes matching interior finishes throughout.
Recent improvements include replacement windows installed in 2025/26, remodeled kitchens with quartz countertops and stainless steel appliances from 2025/26, and new HVAC systems installed in 2026. Exterior features include front and rear yard areas, a covered back porch, and a detached two-car garage. The property is within the Ann Arbor School District and is located in the Water Hill neighborhood, minutes from downtown.
Recent improvements include replacement windows installed in 2025/26, remodeled kitchens with quartz countertops and stainless steel appliances from 2025/26, and new HVAC systems installed in 2026. Exterior features include front and rear yard areas, a covered back porch, and a detached two-car garage. The property is within the Ann Arbor School District and is located in the Water Hill neighborhood, minutes from downtown.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 full bath
- Fully furnished duplex with renovated interiors and matching finishes
- Replacement windows installed in 2025/26
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,834
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,680
$576.7K
Cap Rate 7%
$411,914
$411.9K
Cap Rate 9%
$320,378
$320.4K
Market Conditions
NOI Build-Up for 2,225 SF
Gross rent
$44.1K $19.80/SF
− Vacancy
−$2.9K −$1.29/SF
EGI
$41.2K $18.51/SF
− OpEx
−$12.4K −$5.55/SF
NOI
$28.8K $12.96/SF
Area
Ann Arbor, MI
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,680
Cap Rate 7%
$411,914
Cap Rate 9%
$320,378
Alternative Uses
Best Use
Multifamily LT 5
$411.9K
$360.4K – $480.6K
NOI $28,834 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$361.6K
$316.4K – $421.9K
NOI $25,315 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$491.4K
$430.0K – $573.3K
NOI $34,398 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
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Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Fully furnished units feature updated kitchens, hardwood floors, and private basement laundry.
Where is this duplex located?
The property is located at 908 Spring St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 1 full bath; Fully furnished duplex with renovated interiors and matching finishes; Replacement windows installed in 2025/26
