St. Charles Ranch
For Sale
$275,000
225 Charles St, Saint Charles, MI 48655
Charming duplex with income potential in St. Charles, Michigan.
Property Size1,566 SF
Days on Market144
Property Features for 225 Charles St
General Information
Standard status
Active
Size
1,566 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,685
Building Details
Building Size
1,566 SF
Year Built
1984
Units
2
Listing Agency:
(586) 932-2194
Listed By:
Tami Laduke
(586) 932-2194
Source:
Elliman
Added: Apr 10
Changed: Aug 27
Last Checked: Aug 30 at 5:31PM
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 Tami Laduke
Investment Insights
Based on property information with market context.
This ranch duplex is located on a corner lot in St. Charles. Each unit includes 2 bedrooms, 1 full bathroom, a kitchen, and a living area. One unit features updated flooring and stainless steel appliances. The property also includes a laundry room located off the heated, finished garage, well-maintained landscaping, a storage shed, and a fenced yard. The property is located close to restaurants, shopping, and everyday amenities. The property offers an investment opportunity or the option for owner-occupancy. The bike score is 39, indicating it is somewhat bikeable, and the walk score is 33, indicating car dependence.
Key Highlights
- Income‑generating potential: Live in one unit and rent out the other.
- Updated unit features modern flooring and stainless steel appliances.
- Two units, each with 2 bedrooms and 1 full bathroom.
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
$9,278
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
3.37%
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%
$185,560
$185.6K
Cap Rate 7%
$132,543
$132.5K
Cap Rate 9%
$103,089
$103.1K
Market Conditions
NOI Build-Up for 1,566 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
$14.3K $9.12/SF
− Vacancy
−$1.0K −$0.66/SF
EGI
$13.3K $8.46/SF
− OpEx
−$4.0K −$2.54/SF
NOI
$9.3K $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%
$185,560
Cap Rate 7%
$132,543
Cap Rate 9%
$103,089
Alternative Uses
Best Use
Multifamily LT 5
$132.5K
$116.0K – $154.6K
NOI $9,278 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$125.9K
$110.2K – $146.9K
NOI $8,812 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$289.3K
$253.2K – $337.6K
NOI $20,253 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 48655, MI
6,033
Population
2,469
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
94%
High-School Grad
93.9 sq mi
ZIP Area
64
Density / Sq Mi
$64,615
Median Household Income
$43,918
Median Earnings
$633
Median Rent
$157,100
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 - Charming duplex with income potential in St. Charles, Michigan.
Where is this duplex located?
The property is located at 225 Charles St Saint Charles, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Income‑generating potential: Live in one unit and rent out the other.; Updated unit features modern flooring and stainless steel appliances.; Two units, each with 2 bedrooms and 1 full bathroom.
