Duplex with Private
For Sale
$159,000
801 Corunna Ave, Owosso, MI 48867
Single-story income property with dedicated off-street parking for both residences.
Property Size1,536 SF
Price / SF$103.52
Days on Market9
Property Features for 801 Corunna Ave
General Information
Standard status
Active
Size
1,536 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry closet
Building Details
Year Built
1995
Buildings
1
Stories
1
Listing Agency:
RE/MAX Platinum
(248) 655-7955
Listed By:
In Network Real Estate Group
(248) 655-7955
Source:
Innetworkrealestate
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 30 at 4:32PM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
Built in 1995, this single-story duplex contains 1,536 square feet across two separate apartments. Each residence includes two bedrooms, one full bathroom, a living room, an eat-in kitchen, and a laundry closet integrated into the kitchen area.
Private driveways serve the individual units and provide dedicated off-street parking. The functional floor plans and maintained condition support continued residential occupancy, with the property suited to multifamily ownership or an owner-occupant arrangement.
Private driveways serve the individual units and provide dedicated off-street parking. The functional floor plans and maintained condition support continued residential occupancy, with the property suited to multifamily ownership or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex with 1,536 square feet total
- Each apartment offers 2 bedrooms and 1 full bathroom
- Eat‑in kitchens include dedicated laundry closets
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
$12,621
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
7.94%
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%
$252,420
$252.4K
Cap Rate 7%
$180,300
$180.3K
Cap Rate 9%
$140,233
$140.2K
Market Conditions
NOI Build-Up for 1,536 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
$19.4K $12.60/SF
− Vacancy
−$1.3K −$0.86/SF
EGI
$18.0K $11.74/SF
− OpEx
−$5.4K −$3.52/SF
NOI
$12.6K $8.22/SF
Area
Shiawassee County, MI
Vacancy
6.84%
Lease Rate
$12.60 /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%
$252,420
Cap Rate 7%
$180,300
Cap Rate 9%
$140,233
Alternative Uses
Best Use
Multifamily LT 5
$180.3K
$157.8K – $210.4K
NOI $12,621 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$161.3K
$141.1K – $188.2K
NOI $11,289 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$292.8K
$256.2K – $341.7K
NOI $20,499 @ 7.0% cap · market cap 12.89%
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
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
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 - Single-story income property with dedicated off-street parking for both residences.
Where is this duplex located?
The property is located at 801 Corunna Ave Owosso, MI.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet total; Each apartment offers 2 bedrooms and 1 full bathroom; Eat‑in kitchens include dedicated laundry closets
