Two-Unit Duplex with Updated
For Sale
$149,900
1913 Olds St, Saginaw, MI 48602
Two-level duplex with separate living areas, eat-in kitchens, and basement utility hookups.
Property Size1,404 SF
Price / SF$106.77
Days on Market10
Property Features for 1913 Olds St
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,291
Amenities
washer/dryer hookups
basement storage
Building Details
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices
(989) 790-9292
Listed By:
Chris Leibinger
(989) 385-0754
Source:
Exprealty
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 10 at 1:15PM
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 Berkshire Hathaway HomeServices
Investment Insights
Based on property information with market context.
This two-unit duplex contains one 1-bedroom, 1-bath apartment on each level. Both units include separate living rooms and eat-in kitchens. The lower apartment has recently refreshed carpet and paint, high ceilings, and a window A/C unit. The basement adds storage and washer and dryer hookups.
Exterior improvements completed in 2026 include new siding and doors. The property also has a new sump pump, updated grading, and gutters supporting water drainage. The furnace and hot water heater are newer. Located in Saginaw Township, the property has a Bike Score of 56 and a Walk Score of 26, characterized as Car-Dependent.
Exterior improvements completed in 2026 include new siding and doors. The property also has a new sump pump, updated grading, and gutters supporting water drainage. The furnace and hot water heater are newer. Located in Saginaw Township, the property has a Bike Score of 56 and a Walk Score of 26, characterized as Car-Dependent.
Key Highlights
- Two 1‑bedroom, 1‑bath units arranged across two levels
- New siding and doors installed in 2026
- Basement includes washer and dryer hookups plus additional storage
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
$8,318
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
5.55%
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%
$166,360
$166.4K
Cap Rate 7%
$118,829
$118.8K
Cap Rate 9%
$92,422
$92.4K
Market Conditions
NOI Build-Up for 1,404 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
$12.8K $9.12/SF
− Vacancy
−$922 −$0.66/SF
EGI
$11.9K $8.46/SF
− OpEx
−$3.6K −$2.54/SF
NOI
$8.3K $5.92/SF
Area
Saginaw County, MI
Vacancy
7.20%
Lease Rate
$9.12 /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%
$166,360
Cap Rate 7%
$118,829
Cap Rate 9%
$92,422
Alternative Uses
Best Use
Multifamily LT 5
$118.8K
$104.0K – $138.6K
NOI $8,318 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$112.9K
$98.8K – $131.7K
NOI $7,901 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$259.4K
$227.0K – $302.6K
NOI $18,158 @ 7.0% cap · market cap 12.11%
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
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 48602, MI
27,613
Population
12,286
Households
2.2
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
7.8 sq mi
ZIP Area
3,540
Density / Sq Mi
$46,068
Median Household Income
$29,611
Median Earnings
$902
Median Rent
$70,200
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-level duplex with separate living areas, eat-in kitchens, and basement utility hookups.
Where is this duplex located?
The property is located at 1913 Olds St Saginaw, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units arranged across two levels; New siding and doors installed in 2026; Basement includes washer and dryer hookups plus additional storage
