For Sale
$149,900
Pending
307 N Line, Chesaning, MI 48616
Duplexes
Property Size2,002 SF
Days on Market142
Property Features for 307 N Line
General Information
Standard status
Pending
Size
2,002 SF
Property subtype
Multi-Family
Amenities
Ceiling Fan(s)
Forced Air
Range/Oven
Refrigerator
Building Details
Year Built
1900
Listing Agency:
Re/max TriCounty
(989) 323-2161
Listed By:
Richard Righi · License #6501342322
(989) 323-2161
Source:
Kw
Added: Apr 7
Changed: Aug 23
Last Checked: Aug 21 at 6:18AM
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 Re/max TriCounty
Investment Insights
Based on property information with market context.
Key Highlights
- Strong, profitable rental history makes this duplex a smart investment.
- Well‑maintained duplex featuring two units, perfect for tenants or owner‑occupancy.
- Enjoy the convenience of separate driveways and separately metered utilities 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
$11,861
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
7.91%
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%
$237,220
$237.2K
Cap Rate 7%
$169,443
$169.4K
Cap Rate 9%
$131,789
$131.8K
Market Conditions
NOI Build-Up for 2,002 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
$18.3K $9.12/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$16.9K $8.46/SF
− OpEx
−$5.1K −$2.54/SF
NOI
$11.9K $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%
$237,220
Cap Rate 7%
$169,443
Cap Rate 9%
$131,789
Alternative Uses
Best Use
Multifamily LT 5
$169.4K
$148.3K – $197.7K
NOI $11,861 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$160.9K
$140.8K – $187.8K
NOI $11,266 @ 7.0% cap · market cap 7.52%
Theoretical Best
Specialty Retail
$369.9K
$323.7K – $431.5K
NOI $25,892 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this duplex located?
The property is located at 307 N Line Chesaning, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Strong, profitable rental history makes this duplex a smart investment.; Well‑maintained duplex featuring two units, perfect for tenants or owner‑occupancy.; Enjoy the convenience of separate driveways and separately metered utilities for each unit.
