Two-Unit Duplex with
New
For Sale
$149,900
1913 Olds Street, Saginaw, MI 48602
MULTIFAMILY, Saginaw, MI
Property Size1,404 SF
Lot Size0.10 Acres
Price / SF$106.77
Days on Market3
Property Features for 1913 Olds Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Laundry Room, Basement
Patio and Porch features
Porch
Interior features
Sump Pump
Exterior features
Porch
Appliances
Dishwasher, Microwave, Range/Oven, Refrigerator
Lot features
Dead End
Elementary school district
Saginaw Twp Community School
Middle school district
Saginaw Twp Community School
High school district
Saginaw Twp Community School
Subdivision
Saginaw Twp (73020)
Standard status
Active
APN
23-12-4-14-2111-000
Size
1,404 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
2292
Utilities
Heating system
Forced Air
Cooling system
Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Contemporary
Listing Agency:
Berkshire Hathaway HomeServices
(989) 790-9292
Listed By:
Chris Leibinger
(989) 385-0754
Added: Sep 1
Last Checked: Sep 3 at 6:06PM
MLS# 50220424
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this 1,404-square-foot duplex contains two separate one-bedroom, one-bath residences. Each unit includes its own living room and eat-in kitchen, while the lower apartment has updated carpet and paint, high ceilings, and wall-mounted or window cooling. A basement adds storage capacity and washer and dryer hookups. Appliances include a dishwasher, microwave, range/oven, and refrigerator, with forced-air heating serving the property.
The 0.1-acre parcel includes a porch and public water service. Exterior improvements scheduled for 2026 include new siding and doors, along with a replacement sump pump, adjusted grading, and gutters intended to direct water away from the structure. The furnace and hot water heater are newer, providing additional updates to the building's core systems.
The 0.1-acre parcel includes a porch and public water service. Exterior improvements scheduled for 2026 include new siding and doors, along with a replacement sump pump, adjusted grading, and gutters intended to direct water away from the structure. The furnace and hot water heater are newer, providing additional updates to the building's core systems.
Key Highlights
- Two 1‑bedroom, 1‑bath units within a 1,404‑square‑foot duplex
- Each residence has a separate living room and eat‑in kitchen
- Basement includes washer and dryer hookups plus storage space
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
Property Profile
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
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 - Income-producing residential property with separate one-bedroom units, individual living areas, eat-in kitchens, and shared laundry hookups.
Where is this duplex located?
The property is located at 1913 Olds Street 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 within a 1,404‑square‑foot duplex; Each residence has a separate living room and eat‑in kitchen; Basement includes washer and dryer hookups plus storage space
