Ranch Duplex with Lake
New
For Sale
$269,000
128 Front Drive, Northfield Twp, MI 48189
MULTI_FAMILY - Ranch - Northfield Twp, MI
Property Size1,190 SF
Lot Size0.20 Acres
Price / SF$226.05
Days on Market6
Property Features for 128 Front Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 2, Bedroom 1
Pets allowed
Yes
Interior features
Smoke Alarm, Cable Available, Circuit Breakers, Fuses, Laundry Facility, High Spd Internet Avail
Exterior features
Private Entry
Subdivision
Jg Prays Whitmore Lake
Elementary school district
Whitmore Lake
Middle school district
Whitmore Lake
High school district
Whitmore Lake
Directions
East Shore to Walnut turn right on Front Dr to house
Standard status
Active
APN
B00205386017
Size
1,190 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
OWNER REQUEST **FROM 0205386014 05/29/92 **FROM 0205386015 05/29/92 **FROM 0205386016 05/29/92 NO 43-10-19-21 LOTS 10,19 & 21 J.G. PRAY'S WHITMORE LAKE SUBDIVISION.
Tax Annual Amount
2668
Legal Description
OWNER REQUEST **FROM 0205386014 05/29/92 **FROM 0205386015 05/29/92 **FROM 0205386016 05/29/92 NO 43-10-19-21 LOTS 10,19 & 21 J.G. PRAY'S WHITMORE LAKE SUBDIVISION.
Utilities
Heating system
Forced Air, Wall Furnace
Cooling system
Window Unit(s)
Water source
Well
Water front features
Beach Access, Lake
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Building materials
Vinyl
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
KW Realty Livingston · Keller Williams Realty
(810) 227-5500
Listed By:
Rick Beaudin · License #6501292587
(810) 533-4343
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 9 at 10:06AM
MLS# 20261059943
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 1,190-square-foot ranch property is currently arranged as a duplex with four bedrooms and two full bathrooms. The larger unit includes three bedrooms, a kitchen, step-down family room, basement laundry area, and washer and dryer. The second living area has its own entry, one bedroom, a bathroom, kitchen, and family room. Vinyl construction, forced-air and wall-furnace heating, window-unit cooling, and a well serve the property. Built in 1935, the home also includes a 0.2-acre corner lot with mature trees.
The sale includes the parcel across the street, providing additional space for parking, boat storage, or a garden. The property offers beach access to Whitmore Lake and convenient connections to US 23 and I-96, with shopping and dining nearby.
The sale includes the parcel across the street, providing additional space for parking, boat storage, or a garden. The property offers beach access to Whitmore Lake and convenient connections to US 23 and I-96, with shopping and dining nearby.
Key Highlights
- Duplex configuration with 3‑bedroom and 1‑bedroom living areas
- 1,190 square feet with 4 bedrooms and 2 full bathrooms
- Sale includes the parcel across the street
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
$10,840
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
4.03%
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%
$216,800
$216.8K
Cap Rate 7%
$154,857
$154.9K
Cap Rate 9%
$120,444
$120.4K
Market Conditions
NOI Build-Up for 1,190 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
$16.4K $13.80/SF
− Vacancy
−$936 −$0.79/SF
EGI
$15.5K $13.01/SF
− OpEx
−$4.6K −$3.90/SF
NOI
$10.8K $9.11/SF
Area
Livingston County, MI
Vacancy
5.70%
Lease Rate
$13.80 /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%
$216,800
Cap Rate 7%
$154,857
Cap Rate 9%
$120,444
Alternative Uses
Best Use
Multifamily LT 5
$154.9K
$135.5K – $180.7K
NOI $10,840 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$142.4K
$124.6K – $166.1K
NOI $9,967 @ 7.0% cap · market cap 3.71%
Theoretical Best
Healthcare Medical
$189.5K
$165.9K – $221.1K
NOI $13,268 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 48189, MI
14,038
Population
6,196
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
97%
High-School Grad
34.2 sq mi
ZIP Area
410
Density / Sq Mi
$82,433
Median Household Income
$48,223
Median Earnings
$1,228
Median Rent
$286,200
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 living quarters provide separate kitchens, family rooms, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 128 Front Drive Northfield Twp, MI.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Duplex configuration with 3‑bedroom and 1‑bedroom living areas; 1,190 square feet with 4 bedrooms and 2 full bathrooms; Sale includes the parcel across the street
