Ranch-Style Residential Income
For Sale
$309,900
1435 Luxington Drive, Lapeer, MI 48446
A newly built condominium pairs single-level living with an attached garage and a full basement.
Property Size1,298 SF
Price / SF$238.75
Days on Market33
Property Features for 1435 Luxington Drive
General Information
Standard status
Active
Size
1,298 SF
Total Parking Spaces
2
Property subtype
Condominium,Duplex
Additional Details
HOA Fee
$215
Highway Access
Yes
Multifamily Units
1
Building Details
Year Built
2026
Listing Agency:
The Brokaw Group
(810) 600-2060
Listed By:
Bethany Brokaw · License #6502406551
(810) 444-5874
Source:
Tilleryrealtygroup
Added: Oct 2
Changed: Nov 3
Last Checked: Nov 3 at 8:58AM
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 The Brokaw Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2026 ranch-style condominium offers 1,298 square feet of living space, vaulted ceilings, and 9-foot ceilings. The kitchen and bathrooms feature granite countertops and upgraded cabinetry. A walk-in closet serves the primary suite, while the full basement has an egress window. The home also includes a two-car attached garage and professional landscaping maintenance.
Set among ponds in the City of Lapeer, the property has access to healthcare, shopping, dining, I-69, and M-24. A one-year builder’s warranty is included.
Set among ponds in the City of Lapeer, the property has access to healthcare, shopping, dining, I-69, and M-24. A one-year builder’s warranty is included.
Key Highlights
- 1,298‑square‑foot condominium built in 2026
- Ranch‑style layout with vaulted and 9‑foot ceilings
- Granite countertops and upgraded cabinetry in the kitchen and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,796
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,920
$235.9K
Cap Rate 7%
$168,514
$168.5K
Cap Rate 9%
$131,067
$131.1K
Market Conditions
NOI Build-Up for 1,298 SF
Gross rent
$21.9K $16.86/SF
− Vacancy
−$438 −$0.34/SF
EGI
$21.4K $16.52/SF
− OpEx
−$9.7K −$7.44/SF
NOI
$11.8K $9.09/SF
Area
Lapeer County, MI
Vacancy
2.00%
Lease Rate
$16.86 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,920
Cap Rate 7%
$168,514
Cap Rate 9%
$131,067
Alternative Uses
Best Use
Apartment 5plus
$168.5K
$147.5K – $196.6K
NOI $11,796 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$212.6K
$186.0K – $248.0K
NOI $14,879 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - A newly built condominium pairs single-level living with an attached garage and a full basement.
Where is this residential income property located?
The property is located at 1435 Luxington Drive Lapeer, MI.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 1,298‑square‑foot condominium built in 2026; Ranch‑style layout with vaulted and 9‑foot ceilings; Granite countertops and upgraded cabinetry in the kitchen and bathrooms
