Side-by-Side Duplex with
For Sale
$244,900
3115-3117 Beech St, Midland, MI 48642
Two-unit duplex offers separate 2-bedroom layouts, each with a 1.5-car attached garage and private backyard space.
Property Size2,246 SF
Days on Market53
Property Features for 3115-3117 Beech St
General Information
Standard status
Active
Size
2,246 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,324
Building Details
Building Size
2,246 SF
Year Built
1974
Units
2
Listing Agency:
(989) 486-9770
Listed By:
Matt Smith · License #SBR
(989) 486-9770
Source:
Elliman
Added: Jun 21
Changed: Aug 7
Last Checked: Aug 11 at 12:08PM
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 Matt Smith
Investment Insights
Based on property information with market context.
This side-by-side duplex features two matching units, each with 2 bedrooms, 1 full bathroom, and 1 half bathroom. Each side includes a 1.5-car attached garage, providing on-site parking and straightforward day-to-day access. A private backyard is also included, offering outdoor space for residents on each side.
The property is located at 3115–3117 Beech St in Midland, MI, directly across from a school playground with a splash park. Walkability and biking are limited based on provided scores, indicating the area is more car-oriented for day-to-day needs.
For buyers, this duplex configuration supports an owner-occupied or investment approach where each unit is set up with its own bedroom and bathroom arrangement plus attached garage parking. The layout can also simplify resident turnover and maintenance planning since both sides share the same basic design and amenities. For tenants, the combination of attached parking, in-unit bath layout, and private outdoor space can make the property a functional fit for everyday living.
The property is located at 3115–3117 Beech St in Midland, MI, directly across from a school playground with a splash park. Walkability and biking are limited based on provided scores, indicating the area is more car-oriented for day-to-day needs.
For buyers, this duplex configuration supports an owner-occupied or investment approach where each unit is set up with its own bedroom and bathroom arrangement plus attached garage parking. The layout can also simplify resident turnover and maintenance planning since both sides share the same basic design and amenities. For tenants, the combination of attached parking, in-unit bath layout, and private outdoor space can make the property a functional fit for everyday living.
Key Highlights
- Duplex built in 1974 with two separate 2‑bedroom unit layouts
- Each unit has 1 full bathroom and 1 half bathroom
- Each side includes an attached 1.5‑car garage
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
$14,882
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
6.08%
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%
$297,640
$297.6K
Cap Rate 7%
$212,600
$212.6K
Cap Rate 9%
$165,356
$165.4K
Market Conditions
NOI Build-Up for 2,246 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
$22.9K $10.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$21.3K $9.47/SF
− OpEx
−$6.4K −$2.84/SF
NOI
$14.9K $6.63/SF
Area
Midland County, MI
Vacancy
7.20%
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%
$297,640
Cap Rate 7%
$212,600
Cap Rate 9%
$165,356
Alternative Uses
Best Use
Multifamily LT 5
$212.6K
$186.0K – $248.0K
NOI $14,882 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$202.9K
$177.5K – $236.7K
NOI $14,201 @ 7.0% cap · market cap 5.80%
Theoretical Best
Flex RnD
$405.4K
$354.7K – $473.0K
NOI $28,377 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 48642, MI
33,457
Population
14,663
Households
2.3
Avg Household Size
40
Median Age
42%
College-Educated
96%
High-School Grad
104.7 sq mi
ZIP Area
320
Density / Sq Mi
$77,690
Median Household Income
$48,407
Median Earnings
$1,100
Median Rent
$194,100
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 offers separate 2-bedroom layouts, each with a 1.5-car attached garage and private backyard space.
Where is this duplex located?
The property is located at 3115-3117 Beech St Midland, MI.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: Duplex built in 1974 with two separate 2‑bedroom unit layouts; Each unit has 1 full bathroom and 1 half bathroom; Each side includes an attached 1.5‑car garage
