Duplex with Finished
11224 Lake Forest Drive, Pinckney, MI 48169
For Sale
$345,000
Pending
One residence is remodeled and vacant; the other has been occupied by the same tenant since 1996.
Property Size1,606 SF
Days on Market36
Property Features for 11224 Lake Forest Drive
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Coldwell Banker Town & Country
(810) 227-1111
Listed By:
Alexis Clock · License #6501398438
(734) 262-0398
Source:
Tilleryrealtygroup
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 8 at 9:29AM
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 Coldwell Banker Town & Country
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Investment Insights
Based on property information with market context.
This 1,606-square-foot duplex, built in 1985, contains two matching residences, each with two bedrooms, one bathroom, in-unit laundry, and a walkout basement with finished space. One unit has been remodeled and is vacant; the other has had the same tenant since August 1996. A new roof was installed in 2023, and additional improvements were completed during ownership.
Tenants pay their own utilities, while the landlord handles trash and lawn maintenance. The property is in Hamburg Township, in the Pinckney area. A second identical building is also available for purchase, according to the property information.
Tenants pay their own utilities, while the landlord handles trash and lawn maintenance. The property is in Hamburg Township, in the Pinckney area. A second identical building is also available for purchase, according to the property information.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,606 square feet; built in 1985
- Walkout basement with finished space in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,630
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,600
$292.6K
Cap Rate 7%
$209,000
$209.0K
Cap Rate 9%
$162,556
$162.6K
Market Conditions
NOI Build-Up for 1,606 SF
Gross rent
$22.2K $13.80/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$20.9K $13.01/SF
− OpEx
−$6.3K −$3.90/SF
NOI
$14.6K $9.11/SF
Area
Livingston County, MI
Vacancy
5.70%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,600
Cap Rate 7%
$209,000
Cap Rate 9%
$162,556
Alternative Uses
Best Use
Multifamily LT 5
$209.0K
$182.9K – $243.8K
NOI $14,630 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$192.2K
$168.1K – $224.2K
NOI $13,451 @ 7.0% cap · market cap 3.90%
Theoretical Best
Healthcare Medical
$255.8K
$223.8K – $298.5K
NOI $17,907 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
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Business Placement
Demographics for 48169, MI
20,336
Population
9,045
Households
2.2
Avg Household Size
48
Median Age
39%
College-Educated
98%
High-School Grad
57.7 sq mi
ZIP Area
352
Density / Sq Mi
$108,886
Median Household Income
$58,988
Median Earnings
$1,365
Median Rent
$344,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is remodeled and vacant; the other has been occupied by the same tenant since 1996.
Where is this duplex located?
The property is located at 11224 Lake Forest Drive Pinckney, MI.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,606 square feet; built in 1985; Walkout basement with finished space in each unit
