Duplex with Laundry
218 Lincoln Street, Chesaning, MI 48616
For Sale
$115,900
MULTIFAMILY, Chesaning, MI
Property Size1,394 SF
Lot Size0.20 Acres
Price / SF$83.14
Days on Market148
Property Features for 218 Lincoln Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Exterior features
Appliances
Lot features
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Architectural style
Listing Agency:
RE/MAX New Image · RE/MAX International
(989) 790-0890
Listed By:
Janet Kovach · License MI #6502138651
(989) 262-7007
Added: Jun 15
Changed: Nov 8
Last Checked: Nov 9 at 8:06PM
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.
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Investment Insights
Based on property information with market context.
This 1,394-square-foot duplex was built in 1920 and sits on a 0.2-acre lot. The main-floor apartment has a laundry room with the potential to be converted into a second bedroom. The property also includes a porch, public water, forced-air heating, and ceiling fans.
The rental history is described as long-term. Tenants pay for heat and electricity, while the owner covers water.
The rental history is described as long-term. Tenants pay for heat and electricity, while the owner covers water.
Key Highlights
- 1,394‑square‑foot duplex on a 0.2‑acre lot
- Built in 1920
- Main‑floor apartment has a laundry room that could become a second bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,259
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,180
$165.2K
Cap Rate 7%
$117,986
$118.0K
Cap Rate 9%
$91,767
$91.8K
Market Conditions
NOI Build-Up for 1,394 SF
Gross rent
$12.7K $9.12/SF
− Vacancy
−$915 −$0.66/SF
EGI
$11.8K $8.46/SF
− OpEx
−$3.5K −$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 Rate 5%
$165,180
Cap Rate 7%
$117,986
Cap Rate 9%
$91,767
Alternative Uses
Best Use
Multifamily LT 5
$118.0K
$103.2K – $137.7K
NOI $8,259 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$112.1K
$98.1K – $130.7K
NOI $7,844 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$257.6K
$225.4K – $300.5K
NOI $18,029 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
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Business Placement
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Saginaw County, MI
Properties on Market for Duplexes in Saginaw County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The main-level residence includes a laundry room that could be reconfigured as a second bedroom.
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 $115,900.
What are key features of this property?
This property features: 1,394‑square‑foot duplex on a 0.2‑acre lot; Built in 1920; Main‑floor apartment has a laundry room that could become a second bedroom
