Well-Maintained Duplex in Eberwhite
For Sale
$499,900
1716 Orchard Street, Ann Arbor, MI 48103
Desirable duplex with updated features in a prime location.
Property Size1,440 SF
Price / SF$347.15
Days on Market170
Property Features for 1716 Orchard Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi Family
Listing Agency:
The Charles Reinhart Company
(734) 769-3800
Listed By:
Jean Wedemeyer
(734) 604-2523
Source:
Blueowlprop
Added: Apr 11
Changed: Sep 26
Last Checked: Sep 26 at 6:06AM
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 Charles Reinhart Company
Investment Insights
Based on property information with market context.
This well-maintained duplex presents an opportunity for both owner-occupants and investors. Located in a desirable west side neighborhood within the Eberwhite School District, each unit features 2 bedrooms and 1 bath, with approximately 720 sq ft of living space. The first-floor unit includes a spacious eat-in kitchen equipped with a dishwasher, in-unit washer and dryer, a bright living room with large windows, newer flooring, and a classic tiled bath. The upper unit features vaulted ceilings throughout, a skylight in the bathroom, newer flooring, a dishwasher, a washer and dryer, and a private second-floor porch. Two driveways provide off-street parking for up to 4 cars. The property also includes a nice-sized backyard. Additional highlights include a new boiler (2025), two water heaters (new 2022 & 2026), wall-mount A/C units in each unit, separately metered electricity, and updated double-pane windows. A Certificate of Compliance is valid through September 2028. The bike score is 68, indicating it is bikeable, the walk score is 42, indicating it is car-dependent, and the transit score is 41, indicating some transit options are available.
Key Highlights
- Desirable location in the Eberwhite School District.
- Well‑maintained duplex, ideal for owner‑occupant or investor.
- Each unit has in‑unit washer and dryer and a dishwasher.
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
$18,661
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
3.73%
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%
$373,220
$373.2K
Cap Rate 7%
$266,586
$266.6K
Cap Rate 9%
$207,344
$207.3K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$26.7K $18.51/SF
− OpEx
−$8.0K −$5.55/SF
NOI
$18.7K $12.96/SF
Area
Ann Arbor, MI
Vacancy
6.50%
Lease Rate
$19.80 /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%
$373,220
Cap Rate 7%
$266,586
Cap Rate 9%
$207,344
Alternative Uses
Best Use
Multifamily LT 5
$266.6K
$233.3K – $311.0K
NOI $18,661 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$234.1K
$204.8K – $273.1K
NOI $16,384 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$318.0K
$278.3K – $371.0K
NOI $22,262 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Desirable duplex with updated features in a prime location.
Where is this duplex located?
The property is located at 1716 Orchard Street Ann Arbor, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Desirable location in the Eberwhite School District.; Well‑maintained duplex, ideal for owner‑occupant or investor.; Each unit has in‑unit washer and dryer and a dishwasher.
