Brick Duplex with Private
For Sale
$249,900
2955 Whitfield Drive, Saginaw, MI 48603
MULTIFAMILY, Saginaw, MI
Property Size1,889 SF
Lot Size0.31 Acres
Price / SF$132.29
Days on Market50
Property Features for 2955 Whitfield Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Parking features
Garage, Driveway
Patio and Porch features
Patio
Interior features
Cable/Internet Avail.
Exterior features
Patio
Appliances
Range/Oven, Refrigerator
Subdivision
Reppuhn Subdivision
Lot features
Subdivision, Graded, Platted
Elementary school district
Saginaw Twp Community School
Middle school district
Saginaw Twp Community School
High school district
Saginaw Twp Community School
Standard status
Active
APN
23-12-4-15-1549-000
Size
1,889 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
4775
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
private patio
partially fenced backyard
on-site storage shed
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Architectural style
Ranch
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Connie Reppuhn · License #6501253246
(989) 239-2895
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 10 at 9:06PM
MLS# 50215975
Copyright © 2026 Multiple Listing Service MiRealSource. 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 1,889-square-foot brick duplex, built in 1957, contains two ranch-style units with a practical residential layout. Each unit offers 2 bedrooms, 1 full bathroom, an attached one-car garage, and a private patio. The property also includes a partially fenced backyard, storage shed, driveway parking, and public water service.
Located in Saginaw, Michigan, the duplex includes range/oven and refrigerator appliances, forced-air heating, central air, and ceiling fans. Separate water heaters were replaced in 2020 and 2024. A 14-month home warranty is included at closing, adding coverage alongside the recent mechanical updates.
Located in Saginaw, Michigan, the duplex includes range/oven and refrigerator appliances, forced-air heating, central air, and ceiling fans. Separate water heaters were replaced in 2020 and 2024. A 14-month home warranty is included at closing, adding coverage alongside the recent mechanical updates.
Key Highlights
- 1,889‑square‑foot duplex on a 0.31‑acre lot
- Each unit includes 2 bedrooms and 1 full bathroom
- Attached one‑car garage 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
4.48%
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 4.48%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.2K
NOI $10,630 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$349.0K
$305.4K – $407.2K
NOI $24,430 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two ranch-style rental units include attached garages and shared backyard space.
Where is this duplex located?
The property is located at 2955 Whitfield Drive Saginaw, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,889‑square‑foot duplex on a 0.31‑acre lot; Each unit includes 2 bedrooms and 1 full bathroom; Attached one‑car garage for each unit
