Brick Garden-Style
2311 22nd St Bay City, MI 48708
For Sale
$425,000
Four 2-bedroom units with full basements and separately metered, tenant-paid utilities near hospital, schools, and shopping.
Property Size3,132 SF
Price / SF$135.70
Days on Market56
Property Features for 2311 22nd St
General Information
- Standard status
- Active
- Size
- 3,132 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1962
Listing Agency:
homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #10311209448
(888) 400-2513
Source:
Elliman
Added: Jun 1
Changed: Jul 10
Last Checked: Jul 25 at 6:00AM
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 homecoin.com
Investment Insights
Based on property information with market context.
Purpose-built brick garden-style quadplex offering four spacious units configured as 2 bedrooms and 1 bath each. The property provides approximately 3,132 sq. ft. total, and each unit includes about 783 sq. ft. of living space plus a full basement with washer/dryer hookups.
Utilities are separately metered and tenant-paid, helping simplify ongoing operating administration. The property also features a gross rental income of approximately $48,000 per year, with taxes and insurance listed at approximately $5,500 per year. Set in a convenient Bay City area near a hospital, schools, shopping, and restaurants.
This layout is well suited for investors or owner-operators looking for a straightforward 4-unit residential income property. With consistent unit mix and in-unit basement laundry hookups, the building can support tenant convenience while maintaining a uniform floorplan across all four units. The separately metered utilities structure further aligns with hands-off day-to-day cost management for an income-focused ownership strategy.
Utilities are separately metered and tenant-paid, helping simplify ongoing operating administration. The property also features a gross rental income of approximately $48,000 per year, with taxes and insurance listed at approximately $5,500 per year. Set in a convenient Bay City area near a hospital, schools, shopping, and restaurants.
This layout is well suited for investors or owner-operators looking for a straightforward 4-unit residential income property. With consistent unit mix and in-unit basement laundry hookups, the building can support tenant convenience while maintaining a uniform floorplan across all four units. The separately metered utilities structure further aligns with hands-off day-to-day cost management for an income-focused ownership strategy.
Key Highlights
- Purpose‑built brick 4‑unit property built in 1962
- Approx. 3,132 SF total with four 2‑bedroom, 1‑bath units
- Each unit has approx. 783 SF of living space plus a full basement
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 | $28.2k | $9.00 |
| − Vacancy | −$2.0k | −$0.65 |
| EGI | $26.2k | $8.35 |
| − OpEx | −$7.8k | −$2.51 |
| NOI | $18.3k | $5.85 |
3,132 SF · lease $9.00/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$261.6K
$228.9K – $305.2K
NOI $18,311 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$245.8K
$215.1K – $286.8K
NOI $17,208 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$567.0K
$496.1K – $661.5K
NOI $39,689 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 2-bedroom units with full basements and separately metered, tenant-paid utilities near hospital, schools, and shopping.
Where is this quadplex located?
The property is located at 2311 22nd St Bay City, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Purpose‑built brick 4‑unit property built in 1962; Approx. 3,132 SF total with four 2‑bedroom, 1‑bath units; Each unit has approx. 783 SF of living space plus a full basement
