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3140 Nordman Road
About This Property
Utilities are already available on site, adding value and convenience for future development. Existing improvements include a newer detached garage with a 100-amp electrical panel and gas heat, both in good condition, as well as a greenhouse addition built on a full foundation attached to the house. The current residence has newer roof, furnace, electrical panel - requires extensive renovation or demolition, presenting an ideal opportunity to build new or undertake a complete transformation.
Buyers planning to renovate the existing structure will be required to obtain a new Certificate of Occupancy from the City of Ann Arbor. New construction will require applicable building permits and municipal approvals. Whether you choose to build your dream home or reimagine the existing property, this is a rare chance to secure a parcel in Ann Arbor, where vacant land opportunities are increasingly limited. Sold-as.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 25, 2026 | Sold | ||
| Sold | |||
| Jun 7, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Listed by Real Estate One Inc | $140,000 | |
| Listed by Real Estate One Inc | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017