Residential Income Property with Pond
2429 Golden Shores Drive, Fenton, MI 48430
For Sale
$262,923
The 1,800-square-foot residence has a finished walkout lower level and a private patio.
Property Size1,800 SF
Price / SF$146.07
Days on Market37
Property Features for 2429 Golden Shores Drive
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
The Matt Ochs Real Estate Team, LLC
Listed By:
Matt Ochs · License #123287
(810) 691-7305
Source:
Tilleryrealtygroup
Added: Oct 3
Changed: Nov 7
Last Checked: Nov 7 at 9:39AM
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 The Matt Ochs Real Estate Team, LLC
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Investment Insights
Based on property information with market context.
This 1,800-square-foot condo offers three bedrooms, with a layout that can be adapted for a fourth, and full bathrooms on both levels. The kitchen has tile finishes and includes its appliances. A finished lower level opens to a private patio overlooking a pond, and the property has no association.
Key Highlights
- 1,800‑square‑foot condo
- Three bedrooms with potential conversion to a fourth
- Full bathrooms on both levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,794
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,880
$275.9K
Cap Rate 7%
$197,057
$197.1K
Cap Rate 9%
$153,267
$153.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$26.6K $14.76/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.1K $13.93/SF
− OpEx
−$11.3K −$6.27/SF
NOI
$13.8K $7.66/SF
Area
Genesee County, MI
Vacancy
5.60%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,880
Cap Rate 7%
$197,057
Cap Rate 9%
$153,267
Alternative Uses
Best Use
Apartment 5plus
$197.1K
$172.4K – $229.9K
NOI $13,794 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.8K
$331.4K – $441.9K
NOI $26,514 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
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Business Placement
Demographics for 48430, MI
39,594
Population
16,163
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
96%
High-School Grad
83.2 sq mi
ZIP Area
476
Density / Sq Mi
$99,755
Median Household Income
$53,447
Median Earnings
$1,382
Median Rent
$308,500
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Genesee County, MI
Properties on Market for Residential income properties in Genesee County
Frequently Asked Questions
What type of property is this?
Residential income property - The 1,800-square-foot residence has a finished walkout lower level and a private patio.
Where is this residential income property located?
The property is located at 2429 Golden Shores Drive Fenton, MI.
What is the asking price?
The asking price for this property is $262,923.
What are key features of this property?
This property features: 1,800‑square‑foot condo; Three bedrooms with potential conversion to a fourth; Full bathrooms on both levels
