Two-Unit Duplex with
2114 Hanchett St, Saginaw, MI 48602
For Sale
$79,900
A full basement with an additional bathroom serves the first-floor residence.
Property Size1,272 SF
Price / SF$62.81
Days on Market9
Property Features for 2114 Hanchett St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
NextHome Greater Tri-cities
Listed By:
Coty Lewis · License #6505432312
(989) 239-7545
Source:
Vmrealestatemichigan
Added: Oct 31
Changed: Nov 4
Last Checked: Nov 6 at 9:09AM
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 NextHome Greater Tri-cities
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Investment Insights
Based on property information with market context.
This duplex contains two residences: a first-floor one-bedroom, one-bathroom unit and an upper-level unit with two bedrooms and one bathroom. The first-floor unit has access to a full basement with a second bathroom and potential for additional finished space. A detached garage accommodates two cars and provides storage space.
Built in 1920, the property is located at 2114 Hanchett St in Saginaw, Michigan.
Built in 1920, the property is located at 2114 Hanchett St in Saginaw, Michigan.
Key Highlights
- Two residential units: a 1‑bedroom, 1‑bathroom first‑floor unit and a 2‑bedroom, 1‑bathroom upper unit
- Full basement with an additional bathroom and potential for more finished space
- Detached garage with capacity for 2 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,158
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,160
$143.2K
Cap Rate 7%
$102,257
$102.3K
Cap Rate 9%
$79,533
$79.5K
Market Conditions
NOI Build-Up for 1,272 SF
Gross rent
$13.6K $10.68/SF
− Vacancy
−$571 −$0.45/SF
EGI
$13.0K $10.23/SF
− OpEx
−$5.9K −$4.60/SF
NOI
$7.2K $5.63/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,160
Cap Rate 7%
$102,257
Cap Rate 9%
$79,533
Alternative Uses
Best Use
Multifamily LT 5
$107.7K
$94.2K – $125.6K
NOI $7,536 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$102.3K
$89.5K – $119.3K
NOI $7,158 @ 7.0% cap · market cap 8.96%
Theoretical Best
Specialty Retail
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 20.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
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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
$70,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Saginaw, MI
Properties on Market for Duplexes in Saginaw
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - A full basement with an additional bathroom serves the first-floor residence.
Where is this duplex located?
The property is located at 2114 Hanchett St Saginaw, MI.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: Two residential units: a 1‑bedroom, 1‑bathroom first‑floor unit and a 2‑bedroom, 1‑bathroom upper unit; Full basement with an additional bathroom and potential for more finished space; Detached garage with capacity for 2 cars
