392 E Cambourne Street Ferndale MI 48220 MLS #20251018932

Income generating Ferndale duplex within walking distance to downtown! This is a perfect opportunity to live in one unit while renting out the other, or lease out both units for maximum income generating potential. Currently rental certified through the city until 7/3/26. 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 vacant, but was recently rented out at $1,100/month. Lower unit has had the same tenant for around 30 years, currently paying $1600/month plus $25/month for cat rent with existing lease in place until January 2028, with rent increase built in to current agreement to $1650/month plus cat fee in February 2026 and to $1700/month plus cat fee in February 2027. Lower unit has full access to the backyard, driveway, basement, and garage.