Updated Duplex with Shared
967 Alberta Street Ferndale, MI 48220
New
For Sale
$349,000
MULTI_FAMILY - Other - Ferndale, MI
Property Size1,500 SF
Lot Size0.12 Acres
Price / SF$232.67
Days on Market2
Property Features for 967 Alberta Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Basement
- 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 Agency:
DOBI Real Estate
(248) 385-3350
Listed By:
Alexandra I Lannen · License #6502411775
(248) 703-3358
Added: Jul 23
Last Checked: Jul 24 at 12:06AM
MLS# 20261057181
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 turnkey duplex in Ferndale offers two separate units with a functional split layout. The main-level unit has 2 bedrooms and 1 full bath, while the upper unit has 1 bedroom and 1 full bath. Both units have their own furnace and hot water heater, and the building includes shared basement laundry, along with a 2-car detached garage and a sizable backyard. 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. Stainless steel appliances are also noted among the improvements, with additional updates available through the listing agent.
The property is located at 967 Alberta Street in Ferndale, within Oakland County, Michigan (48220). The duplex was recently vacated, creating an opportunity for new ownership to set rents.
Prior to recent vacancy, rental history included a furnished mid-term performance for the upper unit and long-term occupancy for the lower unit, demonstrating consistent demand. The listing also notes strong prior occupancy levels and rental income figures from those periods, and requests buyers contact the agent for the complete update list.
The property is located at 967 Alberta Street in Ferndale, within Oakland County, Michigan (48220). The duplex was recently vacated, creating an opportunity for new ownership to set rents.
Prior to recent vacancy, rental history included a furnished mid-term performance for the upper unit and long-term occupancy for the lower unit, demonstrating consistent demand. The listing also notes strong prior occupancy levels and rental income figures from those periods, and requests buyers contact the agent for the complete update list.
Key Highlights
- Turnkey Ferndale duplex built in 1922 with main‑level 2BD/1BA unit and upper 1BD/1BA unit
- Each unit has its own furnace and hot water heater, plus forced‑air heating and central air
- Shared basement laundry with updates including central air added to the upper unit and two new water heaters
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 |
1,500 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$283.6K
$248.2K – $330.9K
NOI $19,854 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$262.8K
$230.0K – $306.7K
NOI $18,399 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$323.5K
$283.1K – $377.5K
NOI $22,648 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Ferndale duplex with two residences, each with separate HVAC and water heating, plus shared basement laundry and a detached garage.
Where is this duplex located?
The property is located at 967 Alberta Street Ferndale, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Turnkey Ferndale duplex built in 1922 with main‑level 2BD/1BA unit and upper 1BD/1BA unit; Each unit has its own furnace and hot water heater, plus forced‑air heating and central air; Shared basement laundry with updates including central air added to the upper unit and two new water heaters
