Listing Agency: Re/max TriCounty Show Phone

Listed By: Richard Righi · License #6501342322 Show Phone

Source: Jimdehaan

Added: Apr 27 Changed: Oct 7 Last Checked: Oct 23 at 6:20AM

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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 / Yr

$11,861

Cap Rate

7.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$237,220 $237.2K

Cap Rate 7%

$169,443 $169.4K

Cap Rate 9%

$131,789 $131.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,002 SF

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 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 (±1% cap)

NOI $11,861 @ 7.0% cap · market cap 7.91%

Second Best

Apartment 5plus

$160.9K

$140.8K – $187.8K (±1% cap)

NOI $11,266 @ 7.0% cap · market cap 7.52%

Theoretical Best

Specialty Retail

$369.9K

$323.7K – $431.5K (±1% cap)

NOI $25,892 @ 7.0% cap · market cap 17.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 307 N Line Street 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.