Updated Side-by-Side
223 SUMMIT Ridge White Lake, MI 48386
For Sale
$450,000
Side-by-side duplex with two bedrooms per unit, full basements, one-car garages, and separately metered gas and electric.
Property Size2,100 SF
Price / SF$214.29
Days on Market528
Property Features for 223 SUMMIT Ridge
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1988
Listing Agency:
Real Estate One
(248) 625-0200
Listed By:
Ernest L Gavrilides · License #6501348603
(248) 625-0200
Source:
Exitrealty
Added: Feb 12, 2025
Changed: Jul 23
Last Checked: Jul 24 at 8:34AM
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 Real Estate One
Investment Insights
Based on property information with market context.
This updated side-by-side duplex offers two comfortable bedrooms and bathrooms in each unit, including a full bath and a half bath, along with ample closet space. Both units also feature a full basement, one-car garage, and access to a deck. Heating and cooling are supported by gas and electric utilities that are metered separately, and both units have A/C.
The property is located in White Lake Township, MI, at 223 SUMMIT Ridge.
The duplex configuration provides two independent living units within the same building, each with its own basement, garage, and separately metered utilities.
The property is located in White Lake Township, MI, at 223 SUMMIT Ridge.
The duplex configuration provides two independent living units within the same building, each with its own basement, garage, and separately metered utilities.
Key Highlights
- Side‑by‑side duplex built in 1988 in White Lake, with 2 bedrooms per unit
- Each unit includes a full basement and a one‑car garage
- Gas and electric are metered separately 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 | $41.6k | $19.80 |
| − Vacancy | −$1.9k | −$0.89 |
| EGI | $39.7k | $18.91 |
| − OpEx | −$11.9k | −$5.67 |
| NOI | $27.8k | $13.24 |
2,100 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$397.1K
$347.5K – $463.3K
NOI $27,796 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 5.72%
Theoretical Best
Specialty Retail
$453.0K
$396.3K – $528.5K
NOI $31,707 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Side-by-side duplex with two bedrooms per unit, full basements, one-car garages, and separately metered gas and electric.
Where is this duplex located?
The property is located at 223 SUMMIT Ridge White Lake, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1988 in White Lake, with 2 bedrooms per unit; Each unit includes a full basement and a one‑car garage; Gas and electric are metered separately for each unit
