Well-Maintained Duplex in Brooklyn
For Sale
$169,900
113 Julian St, Brooklyn, MI 49230
Two-unit duplex near downtown Brooklyn, fully leased through July 2026.
Property Size1,000 SF
Lot Size0.20 Acres
Price / SF$169.90
Days on Market165
Property Features for 113 Julian St
General Information
Standard status
Active
Size
1,000 SF
Lot size
0.20 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2.00
Building Details
Year Built
1908
Units
2
Listing Agency:
Executive Brokers Residential and Commercial Real Estate
(517) 474-0832
Listed By:
Michael Kendall · License #6506048214
(517) 474-0832
Source:
Elliman
Added: Mar 10
Changed: Aug 9
Last Checked: Aug 20 at 10:54AM
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 Executive Brokers Residential and Commercial Real Estate
Investment Insights
Based on property information with market context.
This well-maintained two-unit duplex is located in the Village of Brooklyn. The lower unit features two bedrooms and one bathroom, encompassing approximately 1,000 square feet and is leased for $1,100 per month. The upper unit includes one bedroom and one bathroom, covering about 563 square feet and is leased for $700 per month. Both units are occupied through July 2026. Residents have access to a large, fenced backyard. The property is located a short distance from downtown Brooklyn, with its shops and restaurants. Showings start 8/27.
Key Highlights
- Well‑maintained 2‑unit duplex in the Village of Brooklyn.
- Both units are currently occupied with leases in place through July 2026, providing immediate rental income.
- Lower unit: 2 bed/1 bath, approximately 1,000 sq ft, $1,100/month rent.
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
$6,605
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
3.89%
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%
$132,100
$132.1K
Cap Rate 7%
$94,357
$94.4K
Cap Rate 9%
$73,389
$73.4K
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
$10.2K $10.20/SF
− Vacancy
−$765 −$0.77/SF
EGI
$9.4K $9.44/SF
− OpEx
−$2.8K −$2.83/SF
NOI
$6.6K $6.60/SF
Area
Jackson County, MI
Vacancy
7.50%
Lease Rate
$10.20 /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%
$132,100
Cap Rate 7%
$94,357
Cap Rate 9%
$73,389
Alternative Uses
Best Use
Multifamily LT 5
$94.4K
$82.6K – $110.1K
NOI $6,605 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$88.6K
$77.6K – $103.4K
NOI $6,204 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$159.6K
$139.7K – $186.2K
NOI $11,174 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 49230, MI
10,364
Population
6,108
Households
1.7
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
64.0 sq mi
ZIP Area
162
Density / Sq Mi
$81,052
Median Household Income
$52,448
Median Earnings
$1,116
Median Rent
$252,800
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 - Two-unit duplex near downtown Brooklyn, fully leased through July 2026.
Where is this duplex located?
The property is located at 113 Julian St Brooklyn, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Well‑maintained 2‑unit duplex in the Village of Brooklyn.; Both units are currently occupied with leases in place through July 2026, providing immediate rental income.; Lower unit: **2 bed/1 bath, approximately 1,000 sq ft, $1,100/month rent.**
