Two-Unit Duplex Near Lake
For Sale
$231,900
105 & 107 Bridge Street, East Jordan, MI 49727
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 Market112
Property Features for 105 & 107 Bridge Street
General Information
Standard status
Active
Size
960 SF
Property subtype
Multifamily
Zoning
R1
Additional Details
Multifamily Units
2
Building Details
Building Size
960 SF
Listing Agency:
Graham Real Estate
Listed By:
Nate Graham
(231) 526-6251
Source:
Cpix.resimplifi
Added: Jul 6
Changed: Oct 11
Last Checked: Oct 24 at 1:43PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,810
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$176,200
$176.2K
Cap Rate 7%
$125,857
$125.9K
Cap Rate 9%
$97,889
$97.9K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$13.2K $13.80/SF
− Vacancy
−$662 −$0.69/SF
EGI
$12.6K $13.11/SF
− OpEx
−$3.8K −$3.93/SF
NOI
$8.8K $9.18/SF
Area
Charlevoix County, MI
Vacancy
5.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$176,200
Cap Rate 7%
$125,857
Cap Rate 9%
$97,889
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 authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 49727, MI
6,887
Population
4,075
Households
1.7
Avg Household Size
46
Median Age
24%
College-Educated
92%
High-School Grad
120.0 sq mi
ZIP Area
57
Density / Sq Mi
$70,288
Median Household Income
$42,500
Median Earnings
$821
Median Rent
$187,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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
