Duplex with Updated
224 Charles Street Otsego, MI 49078
For Sale
$259,000
Pending
Duplex with recent exterior and mechanical updates, plus in-unit laundry and flexible bedroom/office space.
Property Size1,648 SF
Days on Market78
Property Features for 224 Charles Street
General Information
- Standard status
- Pending
- Size
- 1,648 SF
- Property subtype
- Residential Income / Multi Family
Building Details
- Year Built
- 1979
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 998-4833
Listed By:
Mark E DeLavern · License #6501288825
(269) 998-4833
Source:
Compass
Added: May 8
Changed: Jul 10
Last Checked: Jul 23 at 11:05AM
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 MI
Investment Insights
Based on property information with market context.
This duplex includes unit 224 1/2 with approximately 1,648 square feet and a layout featuring three bedrooms plus two additional rooms that can serve as an at-home office. The home includes a large kitchen and dining area, and a slider that opens to a shaded, privacy-fenced outdoor area with a 220 hot tub hookup. Laundry facilities are available with a washer and dryer noted as negotiable.
The front unit is described as having two bedrooms, a large living room, and a kitchen that includes appliances. The property also highlights multiple recent updates, including the roof, windows, siding, and furnace and A/C at 224 1/2.
For a buyer or investor, the duplex configuration supports an owner-occupy or rental strategy, with separate living spaces and the ability to offset expenses through tenant occupancy, depending on how the units are managed. With updates already completed to major components at 224 1/2, this property may appeal to those seeking a turnkey residential income asset with practical day-to-day comforts such as in-home laundry, appliance-included kitchen space, and functional interior room flexibility.
The front unit is described as having two bedrooms, a large living room, and a kitchen that includes appliances. The property also highlights multiple recent updates, including the roof, windows, siding, and furnace and A/C at 224 1/2.
For a buyer or investor, the duplex configuration supports an owner-occupy or rental strategy, with separate living spaces and the ability to offset expenses through tenant occupancy, depending on how the units are managed. With updates already completed to major components at 224 1/2, this property may appeal to those seeking a turnkey residential income asset with practical day-to-day comforts such as in-home laundry, appliance-included kitchen space, and functional interior room flexibility.
Key Highlights
- Duplex built in 1979 with separate utility meters: separate electric, gas, and water meters
- 224 1/2 features 1,648 SF with 3 bedrooms plus 2 additional rooms for an at‑home office
- Central air conditioning and forced‑air heating with natural gas; laundry room on the main level (washer/dryer negotiable)
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 | $18.4k | $11.16 |
| − Vacancy | −$978 | −$0.59 |
| EGI | $17.4k | $10.57 |
| − OpEx | −$5.2k | −$3.17 |
| NOI | $12.2k | $7.40 |
1,648 SF · lease $11.16/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$174.1K
$152.4K – $203.2K
NOI $12,189 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$151.1K
$132.2K – $176.3K
NOI $10,576 @ 7.0% cap · market cap 4.08%
Theoretical Best
Hotel Hospitality
$15.48M
$13.54M – $18.06M
NOI $1,083,350 @ 7.0% cap · market cap 418.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with recent exterior and mechanical updates, plus in-unit laundry and flexible bedroom/office space.
Where is this duplex located?
The property is located at 224 Charles Street Otsego, MI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Duplex built in 1979 with separate utility meters: separate electric, gas, and water meters; 224 1/2 features 1,648 SF with 3 bedrooms plus 2 additional rooms for an at‑home office; Central air conditioning and forced‑air heating with natural gas; laundry room on the main level (washer/dryer negotiable)
