Listing Agency: Tremaine Real Estate

Listed By: Edward S Constable

Source: Premiermichiganhomesearch

Added: Sep 8 Changed: Oct 26 Last Checked: Oct 7 at 1:01PM

Report an Issue

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 Tremaine Real Estate

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This farmhouse duplex provides 2,248 square feet of living space arranged as two residential units. Each level includes a kitchen, living area, bedroom, and full bathroom. The main floor also has dining space, a family room, walk-in closet, and storage rooms, while the upper unit adds multiple closets and additional living flexibility. A front porch and rear deck extend the usable space outdoors.

The property encompasses 7.05 acres along Lahring Road in Argentine Township, Michigan, with open ground, mature trees, and rural surroundings. Agricultural, recreational, gardening, and animal-related uses are stated as possibilities for the acreage. Farm improvements include a traditional barn, a silo, and a Quonset-style barn with an open interior and concrete floor. Together, the residential layout and outbuildings offer substantial space for storage, hobbies, equipment, or workshop use.

Key Highlights

• 2,248‑square‑foot farmhouse configured as two residential units
• 7.05‑acre property along Lahring Road in Argentine Twp, MI
• Each unit includes a kitchen, living space, bedroom, and full bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,471

Cap Rate

6.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$369,420 $369.4K

Cap Rate 7%

$263,871 $263.9K

Cap Rate 9%

$205,233 $205.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,248 SF

Gross rent

$28.3K $12.60/SF

− Vacancy

−$1.9K −$0.86/SF

EGI

$26.4K $11.74/SF

− OpEx

−$7.9K −$3.52/SF

NOI

$18.5K $8.22/SF

Area

Shiawassee County, MI

Vacancy

6.84%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$369,420

Cap Rate 7%

$263,871

Cap Rate 9%

$205,233

Alternative Uses

Best Use

Multifamily LT 5

$263.9K

$230.9K – $307.9K (±1% cap)

NOI $18,471 @ 7.0% cap · market cap 6.72%

Second Best

Apartment 5plus

$236.0K

$206.5K – $275.4K (±1% cap)

NOI $16,522 @ 7.0% cap · market cap 6.01%

Theoretical Best

Office A

$428.6K

$375.0K – $500.0K (±1% cap)

NOI $30,001 @ 7.0% cap · market cap 10.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 48418, MI

4,389

Population

1,838

Households

2.4

Avg Household Size

44

Median Age

22%

College-Educated

95%

High-School Grad

41.0 sq mi

ZIP Area

107

Density / Sq Mi

$72,210

Median Household Income

$54,160

Median Earnings

$1,193

Median Rent

$246,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two-level living arrangement with separate kitchens, rural land, barns, and a silo.

Where is this duplex located?

The property is located at 12073 Lahring Rd Byron, MI.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 2,248‑square‑foot farmhouse configured as two residential units; 7.05‑acre property along Lahring Road in Argentine Twp, MI; Each unit includes a kitchen, living space, bedroom, and full bathroom