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Ypsilanti Duplex - Income Property 213 Ballard St 2 Unit Apartment Building $588,727 CAD ($294,363 CAD/Unit) 5.61% Cap Rate Ypsilanti, MI 48197
Investment Highlights
- Walkable / Bikeable to Campus / Dining / Shopping /Parks
- Well maintained
Executive Summary
The BENEFIT of this City of Ypsilanti DUPLEX … Location - Location - Location. Very near to everything important including Eastern Michigan University, Hospitals, schools, parks, business districts, shopping, dining, and more. Situated at a premium convenient location in Ypsilanti where access to Ann Arbor, Freeways, and other key essentials allow this property to be an excellent rental fitting the needs of many tenants. It will be difficult to find a better location accommodating a large rental pool. INVESTMENT – INVESTMENT - INVESTMENT. This multi-family home offers two units. UPPER UNIT: 4 Bedrooms, 1 Full Bathroom, Living Room, Dining Area, Kitchen and many updates and improvements. MAIN LEVEL UNIT: 3 Bedrooms, 1 Full Bathroom, Living Room, Breakfast Nook, Private covered deck, Kitchen, Full Basement. AMPLE OFF-STREET PARKING. Common Laundry Area. All appliances owned and sold with property. This property has been well maintained, with updates, and is a super easy investment opportunity. NEW RENTAL CERTIFICATION GOOD FOR 3 YEARS. Showings are by appointment only and require proof of ability to purchase at list price. Call your local Realtor today to take advantage of this fantastic buying opportunity. FULLY LEASED. UPPER Unit good through August 2025. LOWER UNIT good through Spring 2025. TENANTS PAY all utilities (Gas, Electric, Water and Sewer).
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$46,544
|
$22.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$46,544
|
$22.91
|
| Taxes |
$10,299
|
$5.07
|
| Operating Expenses |
$2,770
|
$1.36
|
| Total Expenses |
$13,070
|
$6.43
|
| Net Operating Income |
$33,474
|
$16.47
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $46,544 |
| Annual Per SF | $22.91 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $46,544 |
| Annual Per SF | $22.91 |
| Taxes (CAD) | |
|---|---|
| Annual | $10,299 |
| Annual Per SF | $5.07 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,770 |
| Annual Per SF | $1.36 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $13,070 |
| Annual Per SF | $6.43 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $33,474 |
| Annual Per SF | $16.47 |
Property Facts
| Price | $588,727 CAD | Apartment Style | Single-Family Home |
| Price Per Unit | $294,363 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 2,032 SF |
| Cap Rate | 5.61% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1870/2015 |
| Property Subtype | Apartment | Parking Ratio | 4.92/1,000 SF |
| Zoning | Multi Family - Multi Family | ||
| Price | $588,727 CAD |
| Price Per Unit | $294,363 CAD |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Lot Size | 0.15 AC |
| Building Size | 2,032 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1870/2015 |
| Parking Ratio | 4.92/1,000 SF |
| Zoning | Multi Family - Multi Family |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Basement
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $1,939 CAD | 1,032 |
| 4+1 | 2 | $1,939 CAD | 1,000 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 11-40-182-014 | Total Assessment | $194,765 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $10,299 CAD ($5.07 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
11-40-182-014
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$194,765 CAD (2025)
Annual Taxes
$10,299 CAD ($5.07 CAD/SF)
Tax Year
2023
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Ypsilanti Duplex - Income Property | 213 Ballard St
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