425 Vester Street

About this home

The investment opportunity of the year is here! Located in the heart of Ferndale, surrounded by exciting new development, this fully updated four-unit multifamily property offers exceptional income potential and turnkey appeal. The property features two upper units, each offering 2 bedrooms and 1 full bathroom, along with two lower units, each offering 1 bedroom and 1 full bathroom. Every unit has been updated with high-end finishes throughout. One unit is currently rented for $1,600 per month, with projected total rental income of approximately $6,700 per month. Also includes a coin operated washer and dryer used by all tenants. Whether you are looking to add a strong income-producing asset to your portfolio or begin your investment journey, this is an opportunity you will not want to miss. Schedule your private showing today!

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Ferndale

Over the last 90 days, 101 homes sold in Ferndale for a median of $262,000, about $207 per square foot, and the typical one went under contract in 12 days. This home is listed at $619,000, or $223 per square foot, 8% above the city median, and has been on the market 19 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Ferndale sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $11,640 a year. A buyer who lives here would pay about $7,234 to $14,741 a year once the taxable value resets after the sale, at the 2025 homestead rate of 47.16 mills for Ferndale City and Ferndale schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.

Monthly payment estimate

Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.

Location

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