Side-by-Side Duplex with
For Sale
$249,900
432-434 E Oliver St, Owosso, MI 48867
Two residential units combine period character with separate basements and updated finishes in one unit.
Property Size3,064 SF
Price / SF$81.56
Days on Market40
Property Features for 432-434 E Oliver St
General Information
Standard status
Active
Size
3,064 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Tenancy
Single
Listing Agency:
Michigan Dream Homes, LLC
(734) 822-6006
Listed By:
NextHome Evolution
(734) 822-6006
Source:
Nhevolutionmi
Added: Jul 23
Changed: Aug 31
Last Checked: Aug 30 at 4:36PM
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 Michigan Dream Homes, LLC
Investment Insights
Based on property information with market context.
This 1920 duplex at 432-434 E Oliver St in Owosso, MI contains two side-by-side three-bedroom units, each with its own basement. Interior features include hardwood floors, classic architectural details, and substantial living areas. One unit is occupied, while the other has been updated with a new kitchen, fresh paint, and new carpeting. The renovated unit is ready for an owner-occupant or tenant. A newer roof adds to the property's existing improvements. Residents are responsible for gas and electric, while the owner provides water and sewer service.
Key Highlights
- Two side‑by‑side three‑bedroom units
- Each unit includes its own basement
- One unit is currently occupied
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
$22,520
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
9.01%
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%
$450,400
$450.4K
Cap Rate 7%
$321,714
$321.7K
Cap Rate 9%
$250,222
$250.2K
Market Conditions
NOI Build-Up for 3,064 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
$44.1K $14.40/SF
− Vacancy
−$3.2K −$1.04/SF
EGI
$40.9K $13.36/SF
− OpEx
−$18.4K −$6.01/SF
NOI
$22.5K $7.35/SF
Area
Shiawassee County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$450,400
Cap Rate 7%
$321,714
Cap Rate 9%
$250,222
Alternative Uses
Best Use
Multifamily LT 5
$359.7K
$314.7K – $419.6K
NOI $25,176 @ 7.0% cap · market cap 10.07%
Second Best
Apartment 5plus
$321.7K
$281.5K – $375.3K
NOI $22,520 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$584.2K
$511.1K – $681.5K
NOI $40,891 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
737
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 - Two residential units combine period character with separate basements and updated finishes in one unit.
Where is this duplex located?
The property is located at 432-434 E Oliver St Owosso, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two side‑by‑side three‑bedroom units; Each unit includes its own basement; One unit is currently occupied
