Brick
New
For Sale
$199,000
324 LIBERTY Street, Pontiac, MI 48341
Multifamily, 2 Story, Pontiac, MI
Property Size916 SF
Lot Size0.12 Acres
Price / SF$217.25
Days on Market4
Property Features for 324 LIBERTY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Basement
Pets allowed
Yes
Subdivision
ASSR'S PLAT NO 109 - CITY OF PONTIAC
Elementary school district
Pontiac
Middle school district
Pontiac
High school district
Pontiac
Directions
Mohawk To Liberty On Left
Standard status
Active
APN
1430402017
Size
916 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
T3N, R10E, SEC 30 ASSESSOR'S PLAT NO. 109 W 29 FT M/L OF S 1/2 OF LOT 60 EXC S 50 FT 6-16-08 CORR
Tax Annual Amount
3331
Legal Description
T3N, R10E, SEC 30 ASSESSOR'S PLAT NO. 109 W 29 FT M/L OF S 1/2 OF LOT 60 EXC S 50 FT 6-16-08 CORR
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Somerset · Keller Williams Realty
(248) 649-7200
Listed By:
Laith W Marroki · License #6501304862
(586) 567-6000
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 20 at 1:06AM
MLS# 20261075121
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This tenant-occupied duplex at 324 Liberty Street is a 916-square-foot residential income property built in 1948. The building has brick construction, forced-air heating, public water service, and a basement. The room configuration includes four bedrooms and two bathrooms.
The property is zoned Multi-Family and occupies approximately 0.12 acres in Pontiac. The listing information also identifies a neighboring side-by-side townhouse at 326 Liberty Street as part of a package offering, with each property assigned its own parcel number. Showings are by appointment, and tenants should not be approached or disturbed.
The property is zoned Multi-Family and occupies approximately 0.12 acres in Pontiac. The listing information also identifies a neighboring side-by-side townhouse at 326 Liberty Street as part of a package offering, with each property assigned its own parcel number. Showings are by appointment, and tenants should not be approached or disturbed.
Key Highlights
- 916 square feet of building area
- Four bedrooms and two bathrooms
- Brick construction dating to 1948
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,124
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$242,480
$242.5K
Cap Rate 7%
$173,200
$173.2K
Cap Rate 9%
$134,711
$134.7K
Market Conditions
NOI Build-Up for 916 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.1K $19.80/SF
− Vacancy
−$816 −$0.89/SF
EGI
$17.3K $18.91/SF
− OpEx
−$5.2K −$5.67/SF
NOI
$12.1K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$242,480
Cap Rate 7%
$173,200
Cap Rate 9%
$134,711
Alternative Uses
Best Use
Multifamily LT 5
$173.2K
$151.6K – $202.1K
NOI $12,124 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$160.5K
$140.5K – $187.3K
NOI $11,236 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$197.6K
$172.9K – $230.5K
NOI $13,830 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 48341, MI
16,980
Population
8,601
Households
2
Avg Household Size
38
Median Age
24%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
2,534
Density / Sq Mi
$46,185
Median Household Income
$34,200
Median Earnings
$917
Median Rent
$124,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with multifamily zoning and forced-air heating.
Where is this duplex located?
The property is located at 324 LIBERTY Street Pontiac, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 916 square feet of building area; Four bedrooms and two bathrooms; Brick construction dating to 1948
