Investment Duplex with Studio
For Sale
$120,000
Pending
310 N Mountain St, Bay City, MI 48706
Duplex offers a 3-bedroom home plus a furnished studio apartment, with basement, fenced yard, and 2-car garage.
Property Size1,100 SF
Days on Market61
Property Features for 310 N Mountain St
General Information
Standard status
Pending
Size
1,100 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Building Size
1,100 SF
Year Built
1940
Units
2
Tenancy
Multi
Listing Agency:
REO-TCFront-233021
(616) 890-6140
Listed By:
DeAnna M Fulco
(616) 890-6140
Source:
Elliman
Added: Jun 22
Changed: Aug 7
Last Checked: Aug 1 at 12:32PM
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 REO-TCFront-233021
Investment Insights
Based on property information with market context.
This income-producing duplex includes a 3-bedroom unit with approximately 1,100 square feet, along with a full basement. The property also features a furnished 650 square foot studio apartment, creating two separate living areas within the same building. Outside, there is a fenced backyard and a 2-car garage.
The property is located at 310 N Mountain St in Bay City, Michigan. WalkScore is reported as 67 (Somewhat Walkable) and BikeScore as 44 (Somewhat Bikeable).
For investors or owner-occupants, the layout supports flexibility by pairing a larger 3-bedroom residence with a separate furnished studio apartment. The presence of a full basement can add practical storage or utility space, while the fenced backyard and attached 2-car garage are useful for tenant convenience. Buyers looking for a small, manageable income property may find the dual-unit configuration a straightforward way to diversify rental income on one site.
The property is located at 310 N Mountain St in Bay City, Michigan. WalkScore is reported as 67 (Somewhat Walkable) and BikeScore as 44 (Somewhat Bikeable).
For investors or owner-occupants, the layout supports flexibility by pairing a larger 3-bedroom residence with a separate furnished studio apartment. The presence of a full basement can add practical storage or utility space, while the fenced backyard and attached 2-car garage are useful for tenant convenience. Buyers looking for a small, manageable income property may find the dual-unit configuration a straightforward way to diversify rental income on one site.
Key Highlights
- Income‑producing duplex with a 3‑bedroom unit plus a furnished 650 sq. ft. studio apartment
- 3‑bedroom unit offers 1,100 sq. ft. of living space
- Full basement provides additional storage or utility space
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
$6,431
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
5.36%
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%
$128,620
$128.6K
Cap Rate 7%
$91,871
$91.9K
Cap Rate 9%
$71,456
$71.5K
Market Conditions
NOI Build-Up for 1,100 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
$9.9K $9.00/SF
− Vacancy
−$713 −$0.65/SF
EGI
$9.2K $8.35/SF
− OpEx
−$2.8K −$2.51/SF
NOI
$6.4K $5.85/SF
Area
Bay County, MI
Vacancy
7.20%
Lease Rate
$9.00 /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%
$128,620
Cap Rate 7%
$91,871
Cap Rate 9%
$71,456
Alternative Uses
Best Use
Multifamily LT 5
$91.9K
$80.4K – $107.2K
NOI $6,431 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$86.3K
$75.6K – $100.7K
NOI $6,044 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$199.1K
$174.2K – $232.3K
NOI $13,939 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
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 - Duplex offers a 3-bedroom home plus a furnished studio apartment, with basement, fenced yard, and 2-car garage.
Where is this duplex located?
The property is located at 310 N Mountain St Bay City, MI.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Income‑producing duplex with a 3‑bedroom unit plus a furnished 650 sq. ft. studio apartment; 3‑bedroom unit offers 1,100 sq. ft. of living space; Full basement provides additional storage or utility space
