Duplex with Separate Heating
For Sale
$189,900
710 E fourth Street, Monroe, MI 48161
MULTI_FAMILY - Monroe Center, MI
Property Size2,016 SF
Lot Size0.16 Acres
Price / SF$94.20
Days on Market52
Property Features for 710 E fourth Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Basement, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 6
Patio and Porch features
Porch
Exterior features
Fenced Yard, Porch, Sidewalks
Fencing
Fenced
Appliances
Range/Oven, Refrigerator
Subdivision
Isadore navarre farm west 40ft of lot 86
Elementary school district
Monroe Public Schools
Middle school district
Monroe Public Schools
High school district
Monroe Public Schools
Standard status
Active
Size
2,016 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2440
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
separate furnaces and water heaters
separate laundry hookups
fenced yard
appliances included
Building Details
Year built
1898
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
Century 21 Allstar Real Estate Team, Inc · Century 21 Real Estate
(734) 241-2700
Listed By:
Michael Rodich · License #MCAR-6501254938
(734) 497-5133
Added: Jun 19
Changed: Aug 1
Last Checked: Aug 9 at 2:06PM
MLS# 50212018
Copyright © 2026 Southeastern Border Association of REALTORS®. 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 duplex provides two spacious units, each with 3 bedrooms and 1 full bath. Unit 1 includes fresh paint, new carpet, and updated kitchen flooring, and features tall ceilings in the living room and hallway. Unit 2 has had stairs recently painted and is in the process of being painted, with carpets cleaned. Each unit has separate furnaces and water heaters, along with separate laundry hookups, supporting independent day-to-day operations. The property includes a large fenced shared yard, a porch, and sidewalks.
Built in 1898 and rebuilt in 2008 with extensive upgrades to meet codes, the improvements include new wiring, main roof, windows, fire doors, plumbing and heating systems, siding, and insulation. Smoke alarms and fire doors were installed as part of the 2008 rebuild, and appliances are included with the home, including a range/oven and refrigerator. Water service is public, and heating is forced air with ceiling fan(s).
Set on a 0.16-acre lot with 2,016 square feet of building area, the duplex can be used as an owner-occupied residence with rental income support or as a residential income property.
Built in 1898 and rebuilt in 2008 with extensive upgrades to meet codes, the improvements include new wiring, main roof, windows, fire doors, plumbing and heating systems, siding, and insulation. Smoke alarms and fire doors were installed as part of the 2008 rebuild, and appliances are included with the home, including a range/oven and refrigerator. Water service is public, and heating is forced air with ceiling fan(s).
Set on a 0.16-acre lot with 2,016 square feet of building area, the duplex can be used as an owner-occupied residence with rental income support or as a residential income property.
Key Highlights
- Two‑unit duplex with each unit featuring 3 bedrooms and 1 full bath
- Separate furnaces and water heaters for each unit plus separate laundry hookups
- Rebuilt in 2008 with upgrades including new wiring, main roof, windows, fire doors, plumbing, and heating systems
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
$16,670
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
8.78%
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%
$333,400
$333.4K
Cap Rate 7%
$238,143
$238.1K
Cap Rate 9%
$185,222
$185.2K
Market Conditions
NOI Build-Up for 2,016 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
$32.2K $15.96/SF
− Vacancy
−$1.9K −$0.93/SF
EGI
$30.3K $15.03/SF
− OpEx
−$13.6K −$6.77/SF
NOI
$16.7K $8.27/SF
Area
Monroe County, MI
Vacancy
5.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$333,400
Cap Rate 7%
$238,143
Cap Rate 9%
$185,222
Alternative Uses
Best Use
Multifamily LT 5
$255.6K
$223.7K – $298.2K
NOI $17,892 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$238.1K
$208.4K – $277.8K
NOI $16,670 @ 7.0% cap · market cap 8.78%
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,547 @ 7.0% cap · market cap 76.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 48161, MI
26,571
Population
12,015
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
44.8 sq mi
ZIP Area
593
Density / Sq Mi
$65,517
Median Household Income
$40,184
Median Earnings
$955
Median Rent
$173,200
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?
Duplex - Duplex offering two 3-bedroom, 1-bath units with separate furnaces, water heaters, laundry hookups, and a fenced shared yard.
Where is this duplex located?
The property is located at 710 E fourth Street Monroe, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with each unit featuring 3 bedrooms and 1 full bath; Separate furnaces and water heaters for each unit plus separate laundry hookups; Rebuilt in 2008 with upgrades including new wiring, main roof, windows, fire doors, plumbing, and heating systems
