967 Alberta Street Ferndale, MI 48220
MULTI_FAMILY - Other - Ferndale, MI
- Added:
- Jun 17, 2026
- Days on Market:
- 26
- Last Refresh:
- Jul 12 at 7:06 am
Property Features for 967 Alberta Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Basement, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1
- Pets allowed
- Yes
- Interior features
- Laundry Facility
- Standard status
- Active
- APN
- 2533429003
- Size
- 1,500 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- T1N, R11E, SEC 33 MAPLE RIDGE SUB E 1/2 OF LOT 48
- Tax Annual Amount
- 7079
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1922
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick, Vinyl
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Alexandra I Lannen License #6502411775 (248) 385-3350
Listing office DOBI Real Estate 2211 Cole Street, Birmingham, MI (248) 385-3350
Listing date Jun 17, 2026
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.
Each unit has its own furnace and hot water heater. Recent updates include central air added to the upper unit, two new water heaters, PEX hot and cold water supply plumbing, and a gutted and remodeled upper unit bath, along with stainless steel appliances.
Prior to recent vacancy, the units demonstrated strong rental performance, including a furnished mid-term rental on the upper unit and a long-term tenant on the lower unit. The listing agent can provide a full list of additional updates.
Key Highlights
- Turnkey Ferndale duplex with 2‑car detached garage and a shared basement laundry
- Main‑level unit: 2 bedrooms and 1 full bath; upper unit: 1 bedroom and 1 full bath
- Each unit has its own furnace and hot water heater
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.7k | $19.80 |
| − Vacancy | −$1.3k | −$0.89 |
| EGI | $28.4k | $18.91 |
| − OpEx | −$8.5k | −$5.67 |
| NOI | $19.9k | $13.24 |
