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 Market72
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
Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Parking features
Driveway, Garage
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
on-site storage shed
partially fenced backyard
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 29
Last Checked: Oct 2 at 3:06PM
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 1957 brick ranch duplex contains 1,889 square feet across two residences. Each unit has two bedrooms, one full bathroom, an attached one-car garage, and a private patio. The property also includes a partially fenced backyard and a storage shed. Separate water heaters were replaced in 2020 and 2024.
The 0.31-acre parcel is served by public water. Forced-air heat and central air are among the building’s mechanical features.
The 0.31-acre parcel is served by public water. Forced-air heat and central air are among the building’s mechanical features.
Key Highlights
- Two‑unit property with 1,889 square feet of building area
- Each residence has 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
4.48%
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, a full bath, and an attached garage.
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: Two‑unit property with 1,889 square feet of building area; Each residence has 2 bedrooms and 1 full bathroom; Attached one‑car garage and private patio for each unit
