Duplex with Oversized 2.5-Car
For Sale
$229,900
Pending
1261 W GRAND BLANC Road, Grand Blanc, MI 48439
MULTI_FAMILY - Colonial - Mundy Twp, MI
Property Size1,400 SF
Lot Size0.53 Acres
Days on Market560
Property Features for 1261 W GRAND BLANC Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family,Residential
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Basement, Bathroom 2, Bedroom 2
Parking
2
Pets allowed
Cats OK
Interior features
High Spd Internet Avail, Laundry Facility
Exterior features
Lighting, Private Entry
Elementary school district
Grand Blanc
Middle school district
Grand Blanc
High school district
Grand Blanc
Directions
SOUTH SIDE OF GRAND BLANC RD, BETWEEN FENTON & TORREY RD
Subdivision
Mundy Twp
Standard status
Pending
APN
1524100004
Size
1,400 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Description
W 100 FT OF N 230 FT OF NE 1/4 SEC 24 T6N R6E (83) FR 1500050036
Tax Annual Amount
3692
Legal Description
W 100 FT OF N 230 FT OF NE 1/4 SEC 24 T6N R6E (83) FR 1500050036
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1934
Floors in Building
2
Number of units
2
Building materials
Vinyl
Architectural style
Colonial
Listing Agency:
KW Showcase Realty · Keller Williams Realty
(248) 360-2900
Listed By:
Robert C Sprader · License #6501259834
(248) 406-2921
Added: Jan 26, 2025
Changed: Aug 1
Last Checked: Aug 9 at 9:06PM
MLS# 20250005617
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This colonial-style duplex in Mundy Twp features two spacious 1-bedroom units, each with its own private entrance. The first-floor unit includes a bright living room, dining room, kitchen, and a basement with washer and dryer, along with 1.1 baths. The second-floor unit includes a living room, kitchen, and an updated bathroom. Both units are heated with newer gas-forced air furnaces, and the home has window unit(s) for cooling. Built in 1934, the property includes vinyl construction and well water.
The duplex sits on a 0.53-acre lot and offers an oversized 2.5-car garage, supporting tenant parking and outdoor space. The property also includes lighting, and there is an interior laundry facility.
Long-term tenants of 18 years provide stability, with the potential for rent increases. Please allow 24-hour notice for showings.
The duplex sits on a 0.53-acre lot and offers an oversized 2.5-car garage, supporting tenant parking and outdoor space. The property also includes lighting, and there is an interior laundry facility.
Long-term tenants of 18 years provide stability, with the potential for rent increases. Please allow 24-hour notice for showings.
Key Highlights
- Two 1‑bedroom units with private entrances
- Newer gas‑forced air furnaces for both units
- Oversized 2.5‑car garage and 0.53‑acre lot
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
$12,025
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
5.23%
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%
$240,500
$240.5K
Cap Rate 7%
$171,786
$171.8K
Cap Rate 9%
$133,611
$133.6K
Market Conditions
NOI Build-Up for 1,400 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
$18.1K $12.96/SF
− Vacancy
−$965 −$0.69/SF
EGI
$17.2K $12.27/SF
− OpEx
−$5.2K −$3.68/SF
NOI
$12.0K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /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%
$240,500
Cap Rate 7%
$171,786
Cap Rate 9%
$133,611
Alternative Uses
Best Use
Multifamily LT 5
$171.8K
$150.3K – $200.4K
NOI $12,025 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$153.3K
$134.1K – $178.8K
NOI $10,729 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$294.6K
$257.8K – $343.7K
NOI $20,622 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
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
What type of property is this?
Duplex - Duplex with two private-entry 1-bedroom units, newer gas forced-air heat, and an oversized 2.5-car garage.
Where is this duplex located?
The property is located at 1261 W GRAND BLANC Road Grand Blanc, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two 1‑bedroom units with private entrances; Newer gas‑forced air furnaces for both units; Oversized 2.5‑car garage and 0.53‑acre lot
