Two-Unit Duplex Near Lake
105 & 107 Bridge Street East Jordan, MI 49727
105 & 107 Bridge Street, East Jordan, MI, 49727
$231,900
For Sale
$231,900
Duplex with two one-bedroom units and city utilities, near East Jordan City boat launch and local conveniences.
Property Size960 SF
Price / SF$241.56
Days on Market17
Property Features for 105 & 107 Bridge Street
General Information
- Standard status
- Active
- Size
- 960 SF
- Property subtype
- Multifamily
Listing agency
Graham Real Estate
(231) 526-6251
Listed by
Nate Graham
(231) 526-6251
Source
Cpix.resimplifi
Added: Jul 6 Updated: Jul 21 at 5:34PM Checked: Jul 22 at 2:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Graham Real Estate
Investment Insights
Based on property information with market context.
This duplex includes two separate one-bedroom units within a single property. The units are served by city utilities, supporting straightforward resident utility management.
The property is located near East Jordan City conveniences, with access to Lake Charlevoix swimming and the East Jordan City boat launch. It is also described as being not far from the Family Fare grocery store and other city amenities.
The seller has an interest in coordinating the sale of multiple rental properties within the City of East Jordan, with a preference to close all three simultaneously to align with a 1031 tax-deferred exchange. While individual sale is mentioned as a possibility, the coordinated closing is the stated preference.
The property is located near East Jordan City conveniences, with access to Lake Charlevoix swimming and the East Jordan City boat launch. It is also described as being not far from the Family Fare grocery store and other city amenities.
The seller has an interest in coordinating the sale of multiple rental properties within the City of East Jordan, with a preference to close all three simultaneously to align with a 1031 tax-deferred exchange. While individual sale is mentioned as a possibility, the coordinated closing is the stated preference.
Key Highlights
- Duplex offering 2 one‑bedroom units
- City utilities provided
- Location near the East Jordan City boat launch
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.2k | $13.80 |
| − Vacancy | −$662 | −$0.69 |
| EGI | $12.6k | $13.11 |
| − OpEx | −$3.8k | −$3.93 |
| NOI | $8.8k | $9.18 |
960 SF · lease $13.80/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$125.9K
$110.1K – $146.8K
NOI $8,810 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$112.4K
$98.3K – $131.1K
NOI $7,866 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$194.3K
$170.0K – $226.7K
NOI $13,603 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two one-bedroom units and city utilities, near East Jordan City boat launch and local conveniences.
Where is this duplex located?
The property is located at 105 & 107 Bridge Street East Jordan, MI.
What is the asking price?
The asking price for this property is $231,900.
What are key features of this property?
This property features: Duplex offering 2 one‑bedroom units; City utilities provided; Location near the East Jordan City boat launch
