Two-Unit
3200 N Averill Avenue, Genesee, MI 48506
For Sale
$139,900
Both residences are rented and have separate gas and electric meters.
Property Size1,392 SF
Price / SF$100.50
Days on Market191
Property Features for 3200 N Averill Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Amenities
laundry room
5
Natural Gas
No
Yes
2
Public Sanitary
0.21
61x150
Basement
Building Details
Year Built
Listing Agency:
(989) 613-7355
Listed By:
Jodi Schempp
Source:
Parkplacehomesonline
Added: May 3
Changed: Nov 8
Last Checked: Nov 8 at 2:19AM
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 Jodi Schempp
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Investment Insights
Based on property information with market context.
This 1,392-square-foot duplex, built in 1955, contains a three-bedroom, two-bath residence and a separate two-bedroom unit. Both units are rented. Gas and electric service are separately metered, and the property includes a dedicated laundry room.
The property is in Genesee Township and the Kearsley School District. The site measures 0.21 acres, with listed dimensions of 61 by 150 feet.
The property is in Genesee Township and the Kearsley School District. The site measures 0.21 acres, with listed dimensions of 61 by 150 feet.
Key Highlights
- 1,392‑square‑foot duplex built in 1955
- Unit mix includes a 3‑bedroom, 2‑bath residence and a 2‑bedroom unit
- Both units are rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,573
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,460
$251.5K
Cap Rate 7%
$179,614
$179.6K
Cap Rate 9%
$139,700
$139.7K
Market Conditions
NOI Build-Up for 1,392 SF
Gross rent
$19.2K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$18.0K $12.90/SF
− OpEx
−$5.4K −$3.87/SF
NOI
$12.6K $9.03/SF
Area
Lansing, MI
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,460
Cap Rate 7%
$179,614
Cap Rate 9%
$139,700
Alternative Uses
Best Use
Multifamily LT 5
$179.6K
$157.2K – $209.6K
NOI $12,573 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$161.3K
$141.1K – $188.2K
NOI $11,289 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$286.5K
$250.7K – $334.3K
NOI $20,057 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Genesee County, MI
Properties on Market for Duplexes in Genesee County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are rented and have separate gas and electric meters.
Where is this duplex located?
The property is located at 3200 N Averill Avenue Genesee, MI.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 1,392‑square‑foot duplex built in 1955; Unit mix includes a 3‑bedroom, 2‑bath residence and a 2‑bedroom unit; Both units are rented
