Great 2-Family Income Opportunity with Approved Landlord License! This well-maintained duplex is ideal for both investors and owner-occupants. The lower level offers a spacious 2-bedroom apartment with a full kitchen and bath. Upstairs, you’ll find a charming 1-bedroom apartment with wood floors, a full kitchen, and a bath—perfect for a young professional, student, or anyone seeking their own private space. The property features a separate rear entrance for the upper unit, shared laundry facilities in the basement (with potential to add coin-operated machines for extra income), and all appliances included. The exterior has been recently painted, and the home sits on a massive backyard where the city has indicated an ADU could be approved for even more income potential. This is the perfect chance to live in one unit and rent out the other—a true rental hack—or expand your portfolio with a solid income-producing property.
Showing's will be granted after receiving a purchase agreement. The unit's are currently leased.
Signature Sotheby's International Realty NvlLicense #6501393241Listed on: 09/05/2025
Property Details
Home Type
Multi-Family
Year Built
Built in 1922
Lot Details
6,098 Sq Ft Lot
Lot Dimensions are 37.5x159
Home Design
Colonial Architecture
Block Foundation
Asphalt Roof
Vinyl Construction Material
Interior Spaces
2 Full Bathrooms
1,452 Sq Ft Home
2-Story Property
Unfinished Basement
Outdoor Features
Porch
Utilities
Forced Air Heating System
Heating System Uses Natural Gas
Listing and Financial Details
Assessor Parcel Number 2534476018
Community Details
Overview
2 Units
Woodward Homes Subdivision
Pet Policy
Call for details about the types of pets allowed
Property Details
Home Type
Multi-Family
Year Built
Built in 1922
Lot Details
0
Listing Details
Property Type: Multifamily
Architecture Style: Colonial
Architecture Level: 2 Story
Year Built: 1922
State Equalized Value: 116150.0000
Pets Allowed: Call
Special Features: None
Property Sub Type: MultiFamily
Stories: 2
Interior Features
Total Bathrooms: 2.00
Full Bathrooms: 2
Basement: Yes
Basement Type: Unfinished
Sq Ft Combined: 1452
Total Sq Ft: 1452
Sq Ft Total Bsmt: 726
Exterior Features
Roof Material: Asphalt
Foundation Details: Basement
Construction Materials: Vinyl
Foundation Materials: Block
Porch Type: Porch
Road Frontage Type: Paved
Utilities
Heating Fuel: Natural Gas
Heating: Forced Air
Sewer: Sewer (Sewer-Sanitary)
Water Source: Public (Municipal)
Schools
School District: Ferndale
Lot Info
Lot Size Area: 0.14
Lot Dimensions: 37.5X159
Parcel Number: 2534476018
Zoning: Residential
Rental Info
Monthly Rental Income: 2400
Tax Info
Tax Amount Summer: 8048.0000
Tax Amount Winter: 245.0000
Total Tax: 8293.0000
Taxable Value: 116150.0000
Multi Family
Gross Scheduled Income: 28800.00
Number Of Units Total: 2
Number of One Bedroom Units: 1
Number of Two Bedroom Units: 1
Number Of Units Leased: 2
MLS Schools
School District: Ferndale
Map
Range of Values:
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Average Value
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List Price
Sold Price
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Home Values in the Area
Source: Public Records
Average Home Value in this Area
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax Assessment
Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property.
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Jan DijkersBerkshire Hathaway HomeServices The Loft Warehouse
Attention! Back on market and fully leased out with two great tenants! Income generating Ferndale duplex within walking distance to downtown! Units are separately metered for gas and electric, with one meter for water that is prorated 75%/25% between lower and upper units. Tenants pay all utilities. Upstairs unit is currently rented at $1,100/month through August 2026. Lower unit has had the same
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This home is located at 250 Spencer St, Ferndale, MI 48220 and is currently priced at $310,000, approximately $213 per square foot. This property was built in 1922. 250 Spencer St is a home located in Oakland County with nearby schools including Ferndale Lower Elementary Campus, Ferndale Upper Elementary Campus, and Ferndale Middle School.
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IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS Copyright 2025 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393