Brick Duplex with Attached
For Sale
$259,900
2955 Whitfield Dr, Saginaw, MI 48603
Two-bedroom units offer private patios, shared backyard space, and convenient on-site storage.
Property Size1,889 SF
Price / SF$137.59
Days on Market42
Property Features for 2955 Whitfield Dr
General Information
Standard status
Active
Size
1,889 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private patio
partially fenced backyard
on-site storage shed
Building Details
Year Built
1957
Construction
brick
Listing Agency:
Century 21 Signature Realty
(989) 239-2895
Listed By:
Connie Reppuhn · License #6501253246
Source:
Vmrealestatemichigan
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 30 at 5:56PM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
This 1957 brick duplex contains two residential units, each with 2 bedrooms, 1 full bathroom, an attached one-car garage, and a private patio. The property also includes a large partially fenced backyard shared by the units and a storage shed for lawn and garden equipment. Residential zoning supports the existing duplex configuration.
Located at 2955 Whitfield Drive in Saginaw Charter Township, Michigan, the property provides a defined two-unit layout with separate water heaters replaced in 2020 and 2024. A 14-month home warranty is included at closing.
Located at 2955 Whitfield Drive in Saginaw Charter Township, Michigan, the property provides a defined two-unit layout with separate water heaters replaced in 2020 and 2024. A 14-month home warranty is included at closing.
Key Highlights
- Two‑unit brick duplex built in 1957
- Each unit includes 2 bedrooms and 1 full bathroom
- Attached one‑car garage and private patio for each unit
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
$11,191
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
4.31%
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%
$223,820
$223.8K
Cap Rate 7%
$159,871
$159.9K
Cap Rate 9%
$124,344
$124.3K
Market Conditions
NOI Build-Up for 1,889 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
$17.2K $9.12/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$16.0K $8.46/SF
− OpEx
−$4.8K −$2.54/SF
NOI
$11.2K $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%
$223,820
Cap Rate 7%
$159,871
Cap Rate 9%
$124,344
Alternative Uses
Best Use
Multifamily LT 5
$159.9K
$139.9K – $186.5K
NOI $11,191 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.2K
NOI $10,630 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$349.0K
$305.4K – $407.2K
NOI $24,430 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 48603, MI
27,492
Population
13,367
Households
2.1
Avg Household Size
43
Median Age
37%
College-Educated
94%
High-School Grad
18.2 sq mi
ZIP Area
1,511
Density / Sq Mi
$65,690
Median Household Income
$41,661
Median Earnings
$1,019
Median Rent
$181,800
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 - Two-bedroom units offer private patios, shared backyard space, and convenient on-site storage.
Where is this duplex located?
The property is located at 2955 Whitfield Dr Saginaw, MI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1957; Each unit includes 2 bedrooms and 1 full bathroom; Attached one‑car garage and private patio for each unit
