Two-Unit Cape Cod
For Sale
$159,900
7562 Miller Road, Swartz Creek, MI 48473
Multifamily, 2 Story, Swartz Creek, MI
Property Size1,000 SF
Lot Size0.22 Acres
Price / SF$159.90
Days on Market75
Property Features for 7562 Miller Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 2
Pets allowed
Yes
Subdivision
Suprvrs Of Swartz Creek
Elementary school district
Swartz Creek
Middle school district
Swartz Creek
High school district
Swartz Creek
Directions
Take Miller Rd west from Elms Rd to the house.
Standard status
Active
APN
5836552008
Size
1,000 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
LOT 71 SUPERVISORS PLAT OF SWARTZ CREEK
Tax Annual Amount
2607
Legal Description
LOT 71 SUPERVISORS PLAT OF SWARTZ CREEK
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Wood
Roof type
Asphalt
Architectural style
Cape Cod
Listing Agency:
American Associates Inc
(810) 750-3333
Listed By:
Debbie Caldwell · License #6501230158
(810) 691-4124
Added: Jun 17
Changed: Aug 19
Last Checked: Aug 30 at 6:06PM
MLS# 20261045567
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 two-unit duplex occupies a 0.22-acre lot and provides 1,000 square feet of property area. The Cape Cod-style building was constructed in 1930 with wood framing, an asphalt roof, forced-air heating, and public water. Interior rooms include two bedrooms, two bathrooms, and a basement.
Located in Swartz Creek, the property carries Multi-Family zoning. The two-unit configuration allows an owner to occupy one unit while renting the other, as described in the property information.
Located in Swartz Creek, the property carries Multi-Family zoning. The two-unit configuration allows an owner to occupy one unit while renting the other, as described in the property information.
Key Highlights
- Two‑unit duplex on a 0.22‑acre lot
- 1,000 square feet of property area
- Multi‑Family zoning in Swartz Creek
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
$8,589
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
5.37%
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%
$171,780
$171.8K
Cap Rate 7%
$122,700
$122.7K
Cap Rate 9%
$95,433
$95.4K
Market Conditions
NOI Build-Up for 1,000 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
$13.0K $12.96/SF
− Vacancy
−$689 −$0.69/SF
EGI
$12.3K $12.27/SF
− OpEx
−$3.7K −$3.68/SF
NOI
$8.6K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /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%
$171,780
Cap Rate 7%
$122,700
Cap Rate 9%
$95,433
Alternative Uses
Best Use
Multifamily LT 5
$122.7K
$107.4K – $143.2K
NOI $8,589 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$109.5K
$95.8K – $127.7K
NOI $7,663 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$210.4K
$184.1K – $245.5K
NOI $14,730 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
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 - Wood-frame duplex with two bedrooms, two bathrooms, a basement, and public water service.
Where is this duplex located?
The property is located at 7562 Miller Road Swartz Creek, MI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two‑unit duplex on a 0.22‑acre lot; 1,000 square feet of property area; Multi‑Family zoning in Swartz Creek
