Two-Unit Residential Income
218 Lincoln Street Chesaning, MI 48616
For Sale
$129,000
MULTI_FAMILY - Other - Chesaning, MI
Property Size1,394 SF
Lot Size0.20 Acres
Price / SF$92.54
Days on Market46
Property Features for 218 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Basement, Bathroom 2
Patio and Porch features
Porch
Interior features
Cable/Internet Avail.
Exterior features
Porch, Sidewalks
Appliances
Range/Oven, Refrigerator
Standard status
Active
APN
13-09-3-16-0387-000
Size
1,394 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3161
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
RE/MAX New Image
(989) 790-0890
Listed By:
Janet Kovach · License #6502138651
(989) 262-7007
Added: Jun 15
Changed: Jul 29
Last Checked: Jul 30 at 3:06AM
MLS# 50211457
Copyright © 2026 Saginaw Board of Realtors MLS. 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.
This two-unit residential income property offers long-term rental history and a practical split of utility responsibility: tenants pay for heat and electric, and the owner pays for water. The main-floor apartment includes a dedicated laundry room that could be converted into a second bedroom, providing flexibility in layout.
Located at 218 Lincoln Street in Chesaning, Michigan 48616, the property sits on a 0.2-acre lot. The total building size is 1,394 square feet.
With two separate rental units and an existing utility structure already in place, the property may appeal to buyers looking for an income-focused setup with straightforward day-to-day cost allocation.
Located at 218 Lincoln Street in Chesaning, Michigan 48616, the property sits on a 0.2-acre lot. The total building size is 1,394 square feet.
With two separate rental units and an existing utility structure already in place, the property may appeal to buyers looking for an income-focused setup with straightforward day-to-day cost allocation.
Key Highlights
- Investment property with a long‑term rental history
- Tenants pay heat & electric; owner pays water
- Year built 1920 with forced‑air heat
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.7k | $9.12 |
| − Vacancy | −$915 | −$0.66 |
| EGI | $11.8k | $8.46 |
| − OpEx | −$3.5k | −$2.54 |
| NOI | $8.3k | $5.92 |
1,394 SF · lease $9.12/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$118.0K
$103.2K – $137.7K
NOI $8,259 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$112.1K
$98.1K – $130.7K
NOI $7,844 @ 7.0% cap · market cap 6.08%
Theoretical Best
Specialty Retail
$257.6K
$225.4K – $300.5K
NOI $18,029 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex-style rental with tenant-paid heat and electric, while the owner covers water.
Where is this duplex located?
The property is located at 218 Lincoln Street Chesaning, MI.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: Investment property with a long‑term rental history; Tenants pay heat & electric; owner pays water; Year built 1920 with forced‑air heat
