Building Details

Building Size 2,982 SF

Year Built 1965

Units 2

Listing Agency: Remerica United Realty - Brighton

Listed By: April R Seeburger Show Phone

Source: Elliman

Added: Aug 30 Changed: Oct 6 Last Checked: Oct 19 at 8:31AM

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Investment Insights

Based on property information with market context.

Built in 1965, this duplex property combines an updated primary residence with a separate two-bedroom apartment accessed through its own entrance. The main home offers an open-concept living area, two main-floor bedrooms, an updated bathroom, and a renovated kitchen with newer black stainless-steel appliances. A walkout lower level adds a half bath, two additional bedrooms with windows noted as non-egress, and a large recreation or entertaining area. The apartment includes a fully remodeled bathroom.

An extra lot accommodates a newer 2.5-car garage equipped with 220 service, keyless entry, an opener, and an 8 x 8 storage bump-out. Other updates include the roof, windows, water heater, and siding. The property sits on a dead-end street with mature trees and sidewalks connecting directly to the Fowlerville Schools Campus. A rear deck faces a wooded area, while boulder landscaping and a water feature enhance the outdoor entertaining area near the garage.

Key Highlights

• Separate 2‑bedroom apartment with its own entrance and fully remodeled bathroom
• Main residence includes an open floor plan, 2 bedrooms, renovated kitchen, and updated main‑floor bath
• Walkout lower level has a half bath, 2 bedrooms with windows noted as not egress, and recreation space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,164

Cap Rate

6.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,280 $543.3K

Cap Rate 7%

$388,057 $388.1K

Cap Rate 9%

$301,822 $301.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,982 SF

Gross rent

$41.2K $13.80/SF

− Vacancy

−$2.3K −$0.79/SF

EGI

$38.8K $13.01/SF

− OpEx

−$11.6K −$3.90/SF

NOI

$27.2K $9.11/SF

Area

Livingston County, MI

Vacancy

5.70%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,280

Cap Rate 7%

$388,057

Cap Rate 9%

$301,822

Alternative Uses

Best Use

Multifamily LT 5

$388.1K

$339.6K – $452.7K (±1% cap)

NOI $27,164 @ 7.0% cap · market cap 6.79%

Second Best

Apartment 5plus

$356.8K

$312.2K – $416.3K (±1% cap)

NOI $24,975 @ 7.0% cap · market cap 6.25%

Theoretical Best

Healthcare Medical

$475.0K

$415.6K – $554.2K (±1% cap)

NOI $33,249 @ 7.0% cap · market cap 8.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

2

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

233

Businesses Nearby

Explore this area Business Placement

Demographics for 48836, MI

14,183

Population

5,614

Households

2.5

Avg Household Size

39

Median Age

21%

College-Educated

94%

High-School Grad

94.0 sq mi

ZIP Area

151

Density / Sq Mi

$86,317

Median Household Income

$47,510

Median Earnings

$1,068

Median Rent

$262,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Updated duplex-style home with a separate two-bedroom apartment, walkout lower level, and newer major systems.

Where is this duplex located?

The property is located at 252 Pinewood Dr Fowlerville, MI.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Separate 2‑bedroom apartment with its own entrance and fully remodeled bathroom; Main residence includes an open floor plan, 2 bedrooms, renovated kitchen, and updated main‑floor bath; Walkout lower level has a half bath, 2 bedrooms with windows noted as not egress, and recreation space