Four-Unit Residential Income
For Sale
$174,900
710 Chesaning Street, Saint Charles, MI 48655
MULTI_FAMILY - Saint Charles, MI
Property Size2,716 SF
Lot Size0.61 Acres
Price / SF$64.40
Days on Market326
Property Features for 710 Chesaning Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Subdivision
St Charles Township
Elementary school district
St Charles Community Schools
Middle school district
St Charles Community Schools
High school district
St Charles Community Schools
Standard status
Active
APN
24-10-3-05-0934-000
Size
2,716 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5929
Utilities
Heating system
Oil, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Mark Greskowiak · License #6506036834
(989) 781-6979
Added: Oct 5, 2025
Changed: Aug 3
Last Checked: Aug 26 at 5:06PM
MLS# 50190549
Copyright © 2026 Multiple Listing Service MiRealSource. 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 four-unit residential income property consists of two first-floor apartments and two upstairs units. The two first-floor apartments each include 2 bedrooms and 1 bathroom. The two upstairs units each include 1 bedroom and 1 bathroom. Three of the four units are currently occupied, providing in-place rental housing within the property.
The property is located at 710 Chesaning Street in Saint Charles, Michigan (48655), within Saginaw County. The site includes a total lot size of 0.61 acres, and the building is listed at 2,716 square feet.
For tenants or owner-occupants seeking rental flexibility, the unit mix offers both 1-bedroom and 2-bedroom layouts. For buyers, the fact that 3/4 units are occupied may support immediate income generation while the remaining unit is brought to lease-ready status. Prospective purchasers should schedule a showing to review the current occupancy, confirm rent roll details, and assess the condition of each unit and common areas.
The property is located at 710 Chesaning Street in Saint Charles, Michigan (48655), within Saginaw County. The site includes a total lot size of 0.61 acres, and the building is listed at 2,716 square feet.
For tenants or owner-occupants seeking rental flexibility, the unit mix offers both 1-bedroom and 2-bedroom layouts. For buyers, the fact that 3/4 units are occupied may support immediate income generation while the remaining unit is brought to lease-ready status. Prospective purchasers should schedule a showing to review the current occupancy, confirm rent roll details, and assess the condition of each unit and common areas.
Key Highlights
- 4‑unit home in Saint Charles with two first‑floor 2BR/1BA apartments
- Two upstairs 1BR/1BA units in the 4‑unit property
- 3 of 4 units are currently occupied
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
$16,091
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
9.20%
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%
$321,820
$321.8K
Cap Rate 7%
$229,871
$229.9K
Cap Rate 9%
$178,789
$178.8K
Market Conditions
NOI Build-Up for 2,716 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
$24.8K $9.12/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$23.0K $8.46/SF
− OpEx
−$6.9K −$2.54/SF
NOI
$16.1K $5.92/SF
Area
Saginaw County, MI
Vacancy
7.20%
Lease Rate
$9.12 /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%
$321,820
Cap Rate 7%
$229,871
Cap Rate 9%
$178,789
Alternative Uses
Best Use
Multifamily LT 5
$229.9K
$201.1K – $268.2K
NOI $16,091 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$218.3K
$191.1K – $254.7K
NOI $15,284 @ 7.0% cap · market cap 8.74%
Theoretical Best
Specialty Retail
$501.8K
$439.1K – $585.4K
NOI $35,126 @ 7.0% cap · market cap 20.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 48655, MI
6,033
Population
2,469
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
94%
High-School Grad
93.9 sq mi
ZIP Area
64
Density / Sq Mi
$64,615
Median Household Income
$43,918
Median Earnings
$633
Median Rent
$157,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex with mixed unit sizes, including 3 currently occupied apartments.
Where is this quadplex located?
The property is located at 710 Chesaning Street Saint Charles, MI.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: 4‑unit home in Saint Charles with two first‑floor 2BR/1BA apartments; Two upstairs 1BR/1BA units in the 4‑unit property; 3 of 4 units are currently occupied
