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$679,000

For Sale - Active
514 Pauline Blvd, Ann Arbor, MI 48103
3 Beds
0 Baths
0 Square Feet
0.15 Acres Lot
Built in 1928
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: Sep 05, 2025 at 06:30PM

Investment Summary


Monthly Cash Flow
-$2,178
Cap Rate
1.8%
Cash-on-Cash Return
-16.7%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-12.2%

Property Description


0.15 Acres Lot
Built in 1928
For Sale - Active
Units n/a

Rare opportunity to own a fully leased Sears Kit duplex near Michigan Stadium and campus. This historic property features beautiful hardwood floors, original trim, and charming architectural details throughout. Both units have internal access to shared common areas, offering flexibility and convenience. Situated on a large lot with potential for football parking income. The detached garage offers ADU potential (subject to city approval), and the walk-out basement presents an opportunity to create a third unit. Prime location—walkable to downtown, public transit, and all Ann Arbor has to offer. Ideal for investors or owner-occupants seeking future flexibility. Home energy score of 2 - See report at stream.a2gov.org

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Location


Property Details


Parking

  • Description: Detached, Electricity
  • Details: Concrete, Driveway
  • Garage Spaces: 0
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Daylight, Full, Walk-Out Access
  • Fireplace: Yes

Exterior Features

  • Roof Material: Composition

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 090932229010
  • Lot Size: 6621 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1928

Tax Information

  • Annual Tax: $14,074

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: None

Location

  • County: Washtenaw

Listing Details


Listed by:
Jean Wedemeyer
The Charles Reinhart Company
(734) 604-2523

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25032507
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$2,178
Cap Rate
1.8%
Cash-on-Cash Return
-16.7%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-12.2%

Purchase Details

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Purchase price:
$679,000
Amount financed:
-$543,200
Down payment:
$135,800
Closing costs:
$20,370
Rehab costs:
$0
Initial cash invested:
$156,170
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$543,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,213
Property tax:
$1,173
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,610

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (37%)
37%-$1,173-$14,074
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (62%)
62%-$1,973-$23,674

Cash Flow


Monthly Yearly
Net operating income:
$1,035 $12,420
Mortgage payments:
-$3,213 -$38,556
Cash flow:
-$2,178 -$26,136