Duplex with Separate
New
For Sale
$425,000
252 Pinewood Drive, Fowlerville, MI 48836
Multifamily, 1 Story, Fowlerville Vlg, MI
Property Size1,882 SF
Lot Size0.66 Acres
Price / SF$225.82
Days on Market5
Property Features for 252 Pinewood Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi-Family,Residential
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Basement, Bathroom 1
Pets allowed
Yes
Interior features
220 Volts, Circuit Breakers, ENERGY STAR(R) Qualified Window(s), Programmable Thermostat
Exterior features
Awning/Overhang(s), Lighting
Elementary school district
Fowlerville
Middle school district
Fowlerville
High school district
Fowlerville
Directions
Grand River to North on Benjamin to East on Devonshire to North on Pinewood. Home will be on your right.
Subdivision
Fowlerville Vlg
Standard status
Active
APN
0511305063
Size
1,882 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Description
SEC 11 T3N R3E VILLAGE OF FOWLERVILLE, ASSESSOR'S PLAT NO. 2 LOT 28 BEG S2*E 768.84 FT FROM CEN OF SEC FOR POB, TH S2*E 108.58 FT, TH W 135.85 FT TO R/W PINEWOOD DR,TH N12*W 111.12 FT ALG ARC L TH E 155.56 FT TO POB ALSO 2 FT LYING N THEREOF ALSO RIGHTS OF ESMT REMAINING AS EXC TO 305-073, 1/90 0.36 AC M/L
Tax Annual Amount
4325
Legal Description
SEC 11 T3N R3E VILLAGE OF FOWLERVILLE, ASSESSOR'S PLAT NO. 2 LOT 28 BEG S2*E 768.84 FT FROM CEN OF SEC FOR POB, TH S2*E 108.58 FT, TH W 135.85 FT TO R/W PINEWOOD DR,TH N12*W 111.12 FT ALG ARC L TH E 155.56 FT TO POB ALSO 2 FT LYING N THEREOF ALSO RIGHTS OF ESMT REMAINING AS EXC TO 305-073, 1/90 0.36 AC M/L
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s), Attic Fan
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Building materials
Vinyl
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Remerica United Realty-Brighton
(810) 202-1850
Listed By:
April R Seeburger
(517) 402-7349
Added: Aug 27
Changed: Aug 30
Last Checked: Aug 31 at 6:06AM
MLS# 20261069396
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,882-square-foot ranch-style duplex sits on a 0.66-acre parcel and includes a two-bedroom separate-entry apartment with a remodeled bathroom. The primary residence offers an open living arrangement, two main-floor bedrooms, an updated bathroom, and a renovated kitchen with newer black stainless-steel appliances. The lower level adds a walkout, half bath, two additional rooms with windows, and a large recreation area. A newer 2.5-car garage includes 220-volt service, keyless entry, an opener, and an 8-by-8-foot storage extension.
Additional improvements include a newer roof, windows, water heater, and vinyl siding. Central air, forced-air heat, an attic fan, and ceiling fans support year-round comfort. The property is zoned Multi-Family, Residential and was built in 1965. It is positioned on a dead-end street near sidewalks leading to the Fowlerville Schools Campus, with mature trees, wooded rear surroundings, and a large rear deck.
Additional improvements include a newer roof, windows, water heater, and vinyl siding. Central air, forced-air heat, an attic fan, and ceiling fans support year-round comfort. The property is zoned Multi-Family, Residential and was built in 1965. It is positioned on a dead-end street near sidewalks leading to the Fowlerville Schools Campus, with mature trees, wooded rear surroundings, and a large rear deck.
Key Highlights
- 1,882‑square‑foot ranch‑style duplex on 0.66 acres
- Separate‑entry 2‑bedroom apartment with remodeled bathroom
- Newer 2.5‑car garage with 220‑volt service and 8 x 8 storage bump out
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
$17,144
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
4.03%
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%
$342,880
$342.9K
Cap Rate 7%
$244,914
$244.9K
Cap Rate 9%
$190,489
$190.5K
Market Conditions
NOI Build-Up for 1,882 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
$26.0K $13.80/SF
− Vacancy
−$1.5K −$0.79/SF
EGI
$24.5K $13.01/SF
− OpEx
−$7.3K −$3.90/SF
NOI
$17.1K $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 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%
$342,880
Cap Rate 7%
$244,914
Cap Rate 9%
$190,489
Alternative Uses
Best Use
Multifamily LT 5
$244.9K
$214.3K – $285.7K
NOI $17,144 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$225.2K
$197.0K – $262.7K
NOI $15,763 @ 7.0% cap · market cap 3.71%
Theoretical Best
Healthcare Medical
$299.8K
$262.3K – $349.7K
NOI $20,984 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible ranch layout includes a two-bedroom rental unit plus updated kitchen, bathrooms, windows, roof, water heater, and siding.
Where is this duplex located?
The property is located at 252 Pinewood Drive Fowlerville, 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: 1,882‑square‑foot ranch‑style duplex on 0.66 acres; Separate‑entry 2‑bedroom apartment with remodeled bathroom; Newer 2.5‑car garage with 220‑volt service and 8 x 8 storage bump out
