Duplex with Finished Walkout
For Sale
$369,900
1362/1366 Sauter St, Muskegon, MI 49442
Two residential units offer finished lower-level space, fenced yards, decks, and well-fed in-ground sprinkling.
Property Size2,918 SF
Price / SF$126.76
Days on Market8
Property Features for 1362/1366 Sauter St
General Information
Standard status
Active
Size
2,918 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fenced-in backyard
deck
in-ground sprinkling
walkout basement
finished basement
Building Details
Year Built
1993
Listing Agency:
Real Estate One Inc
(734) 662-8600
Listed By:
In Network Real Estate Group
(248) 655-7955
Source:
Innetworkrealestate
Added: Sep 20
Changed: Sep 26
Last Checked: Sep 26 at 6:51AM
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 Inc
Investment Insights
Based on property information with market context.
Built in 1993, this duplex contains two residential units with 2,918 square feet of total property size. Each side includes 3 bedrooms, 2 full bathrooms, a walkout basement, and finished basement space that can support additional living, recreation, or storage needs. Fresh interior paint appears throughout both units, while the basement at 1362 Sauter features new carpeting.
Both residences have fenced backyards with decks, providing separate outdoor areas for each unit. In-ground sprinkling is supplied by a separate well. Located at 1362/1366 Sauter St in Muskegon Twp, MI 49442, the property offers a two-unit layout suitable for rental occupancy or owner-occupant use.
Both residences have fenced backyards with decks, providing separate outdoor areas for each unit. In-ground sprinkling is supplied by a separate well. Located at 1362/1366 Sauter St in Muskegon Twp, MI 49442, the property offers a two-unit layout suitable for rental occupancy or owner-occupant use.
Key Highlights
- Two‑unit duplex with 2,918 square feet of total property size
- Each unit has 3 bedrooms and 2 full bathrooms
- Walkout basements with finished space on both sides
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
$28,313
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
7.65%
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%
$566,260
$566.3K
Cap Rate 7%
$404,471
$404.5K
Cap Rate 9%
$314,589
$314.6K
Market Conditions
NOI Build-Up for 2,918 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
$42.7K $14.64/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$40.4K $13.86/SF
− OpEx
−$12.1K −$4.16/SF
NOI
$28.3K $9.70/SF
Area
Muskegon County, MI
Vacancy
5.32%
Lease Rate
$14.64 /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%
$566,260
Cap Rate 7%
$404,471
Cap Rate 9%
$314,589
Alternative Uses
Best Use
Multifamily LT 5
$404.5K
$353.9K – $471.9K
NOI $28,313 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$361.0K
$315.9K – $421.2K
NOI $25,271 @ 7.0% cap · market cap 6.83%
Theoretical Best
Hotel Hospitality
$27.40M
$23.98M – $31.97M
NOI $1,918,212 @ 7.0% cap · market cap 518.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer finished lower-level space, fenced yards, decks, and well-fed in-ground sprinkling.
Where is this duplex located?
The property is located at 1362/1366 Sauter St Muskegon, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,918 square feet of total property size; Each unit has 3 bedrooms and 2 full bathrooms; Walkout basements with finished space on both sides
