Fantastic investment opportunity! This fully occupied triplex generates $40,680 in annual gross rental income with three long-term tenants in place. 2 of the tenants have been in the house for over 15 years and the other tenant has occupied the upstairs for over 5. Tenants pay all utilities. 2 units just renewed for another 12months to February 2027! The third unit plans on renewing their lease in April 2026 for an additional 12 months.
The main floor unit offers 3 bedrooms, 1 full bath, a spacious kitchen, hardwood floors, and a bright sunroom, heated with a forced-air furnace. The upper unit features 2 bedrooms, 1 bath, and a large living room, heated by a boiler system. The basement unit includes 1 bedroom, 1 full bath, and a full kitchen, with heat provided by a wall unit.
Each unit has separate electrical meters and individual hot water tanks. Additional features include a detached garage for storage, a shared basement laundry room, and a shared driveway with ample parking for all three units.
Located within walking distance to Eastern Michigan University, this property combines stable income, strong rental demand, and a highly desirable location.
Sold for $340,000
Street View
$340,000
408 N Hamilton St, Ypsilanti, MI 48197
6beds
2,800sqft
Multi Family
Built in 1929
-- sqft lot
$337,400 Zestimate®
$121/sqft
$1,481 Estimated rent
Home value
$337,400
$304,000 - $375,000
$1,481/mo
Zestimate® history
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$2,246/mo
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List your homeWhat's special
Detached garage for storage
Zillow last checked:
Listing updated:
Listed by:
Eric Miller 248-721-9980,
RE/MAX Complete
Bought with:
Michael Perna, 6501309650
EXP Realty The Perna Team
Julie Johnston, 6501461992
EXP Realty The Perna Team
Source: Realcomp II,MLS#: 20251041154
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Baseboard, Forced Air, Natural Gas, Wall Furnace
Cooling
- Ceiling Fans
Appliances
- Laundry: Common Area, Laundry Room
Features
- High Speed Internet
- Windows: Egress Windows
- Basement: Daylight,Finished,Full,Walk Out Access
- Has fireplace: No
Interior area
- Total interior livable area: 2,800 sqft
- Finished area above ground: 2,250
- Finished area below ground: 550
Property
Parking
- Total spaces: 5
- Parking features: Garage, Shared Driveway
- Has garage: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered
- Exterior features: Lighting
- Pool features: None
- Fencing: Fencing Allowed
Lot
- Size: 6,098 Square Feet
- Dimensions: 36 x 165
Details
- Parcel number: 111140109012
- Zoning description: MultiFamily, Residential
- Special conditions: Short Sale No,Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Triplex
- Property subtype: Multi Family
Materials
- Stucco, Wood Siding
- Foundation: Basement, Block
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1929
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Sidewalks
- Subdivision: NORRIS & CROSS ADD
Location
- Region: Ypsilanti
Financial & listing details
- Price per square foot: $121/sqft
- Tax assessed value: $141,400
- Annual tax amount: $11,352
- Date on market: 10/1/2025
- Cumulative days on market: 128 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 2/25/2026 | Sold | $340,000-2.6%$121/sqft |
Source:  Realcomp II #20251041154 Report a problem | ||
| 2/6/2026 | Pending sale | $348,900$125/sqft |
Source: Realcomp II #20251041154 Report a problem | ||
| 1/8/2026 | Price change | $348,900-0.3%$125/sqft |
Source: Realcomp II #20251041154 Report a problem | ||
| 11/3/2025 | Price change | $349,900-2.8%$125/sqft |
Source: Realcomp II #20251041154 Report a problem | ||
| 10/1/2025 | Listed for sale | $359,900+4.3%$129/sqft |
Source: Realcomp II #20251041154 Report a problem | ||
| 6/18/2024 | Sold | $345,000-8%$123/sqft |
Source:  MichRIC #24018222 Report a problem | ||
| 6/2/2024 | Contingent | $375,000$134/sqft |
Source: MichRIC #24018222 Report a problem | ||
| 5/14/2024 | Price change | $375,000-5.1%$134/sqft |
Source: MichRIC #24018222 Report a problem | ||
| 4/17/2024 | Listed for sale | $395,000+113.5%$141/sqft |
Source: MichRIC #24018222 Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 9/28/2018 | Sold | $185,000-2.1%$66/sqft |
Source: Public Record Report a problem | ||
| 7/5/2018 | Pending sale | $189,000$68/sqft |
Source: Owner Report a problem | ||
| 1/25/2018 | Listed for sale | $189,000+1.6%$68/sqft |
Source: Owner Report a problem | ||
| 2/2/2017 | Listing removed | $186,000$66/sqft |
Source: Owner Report a problem | ||
| 7/25/2016 | Listed for sale | $186,000$66/sqft |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,521 | $141,400 +7.8% |
| 2024 | -- | $131,200 +13.3% |
| 2023 | -- | $115,800 +10.3% |
| 2022 | -- | $105,000 +3% |
| 2021 | -- | $101,900 +13.6% |
| 2020 | $7,012 | $89,700 +16.8% |
| 2019 | -- | $76,800 -0.1% |
| 2018 | -- | $76,900 +3.9% |
| 2017 | $4,944 | $74,000 +29.4% |
| 2016 | $4,944 | $57,167 +0.3% |
| 2015 | -- | $56,997 +2.3% |
| 2014 | -- | $55,700 |
| 2013 | -- | $55,700 +1.3% |
| 2012 | -- | $55,000 -2.6% |
| 2011 | -- | $56,468 +1.7% |
| 2010 | -- | $55,525 -0.3% |
| 2009 | -- | $55,693 +4.4% |
| 2008 | -- | $53,346 +2.3% |
| 2007 | -- | $52,147 -39.6% |
| 2005 | -- | $86,300 +9.4% |
| 2004 | -- | $78,900 +5.3% |
| 2003 | -- | $74,900 +12% |
| 2002 | $3,254 +18.4% | $66,900 |
| 2001 | $2,749 +54.7% | $66,900 +30.7% |
| 2000 | $1,777 +209.9% | $51,200 +4.1% |
| 1999 | $573 | $49,200 |
Find assessor info on the county website
Neighborhood: Riverside
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Nearby schools
GreatSchools rating
- NAPerry Early Learning CenterGrades: PK-1Distance: 1 mi
- 3/10Estabrook SchoolGrades: PK,1-8Distance: 1.1 mi
- 2/10AC Tech High SchoolGrades: 9-12Distance: 1.5 mi
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Estimated market value
$337,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$337,400
- Michigan
- Washtenaw County
- Ypsilanti
- 48197
- Riverside
- 408 N Hamilton St
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