502 Miller Ave Ann Arbor, MI 48103

This classic Dutch Colonial duplex, situated in Ann Arbor's desirable Water Hill neighborhood, presents a compelling investment opportunity. The property boasts a total of 1,355 square feet, encompassing two rental units: a one-bedroom and a two-bedroom. Conveniently located next to a coffee and pastry shop and across from Knight's Market, this property offers exceptional walkability to downtown Ann Arbor. Residents enjoy the convenience of a covered parking space and a small yard. The property features a basement with laundry facilities, adding value and convenience for tenants. The building is a two-story structure on a lot with R2A zoning. Financial highlights include a current NOI of $35,970, resulting in a 7.82% cap rate. Pro-forma NOI is $22,792, yielding a 4.95% cap rate. The asking price for this two-unit property is $460,000, representing a price per unit of $230,000. The property's address is 502 Miller Ave, Ann Arbor, MI 48103, and its APN is 09-09-29-220-019. This property offers a blend of strong rental income potential and a desirable location, making it an attractive investment for discerning buyers.