For Sale
$164,900
307 N Line St, Chesaning, MI 48616
Duplexes
Property Size2,002 SF
Price / SF$82.37
Days on Market97
Property Features for 307 N Line St
General Information
Standard status
Active
Size
2,002 SF
Property subtype
Investment
Building Details
Year Built
1900
Listing Agency:
(989) 598-0039
Listed By:
Richard Righi · License #6501342322
(989) 598-0039
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Aug 1 at 12:52PM
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 Richard Righi
Investment Insights
Based on property information with market context.
Key Highlights
- Strong, profitable rental history makes this duplex a smart investment.
- Well‑maintained duplex featuring two units, perfect for tenants or owner‑occupancy.
- Enjoy the convenience of separate driveways and separately metered utilities for each unit.
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 | $18.3k | $9.12 |
| − Vacancy | −$1.3k | −$0.66 |
| EGI | $16.9k | $8.46 |
| − OpEx | −$5.1k | −$2.54 |
| NOI | $11.9k | $5.92 |
2,002 SF · lease $9.12/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$169.4K
$148.3K – $197.7K
NOI $11,861 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$160.9K
$140.8K – $187.8K
NOI $11,266 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$369.9K
$323.7K – $431.5K
NOI $25,892 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this duplex located?
The property is located at 307 N Line St Chesaning, MI.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Strong, profitable rental history makes this duplex a smart investment.; Well‑maintained duplex featuring two units, perfect for tenants or owner‑occupancy.; Enjoy the convenience of separate driveways and separately metered utilities for each unit.
