Occupied 3-Unit
3226 N Water Street, Bay City, MI 48708
For Sale
$152,000
All three residential units are occupied, and the property includes natural gas service and a basement.
Property Size1,592 SF
Price / SF$95.48
Days on Market51
Property Features for 3226 N Water Street
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Tenant in Place
Amenities
4
Natural Gas
No
Yes
850
750
3
Alley
Vinyl Siding
Public Sanitary
0.11
50x100
Basement
Building Details
Year Built
Listing Agency:
Bay Valley Realty
(989) 613-7355
Listed By:
Shelley Park Cluff
Source:
Parkplacehomesonline
Added: Sep 20
Changed: Nov 8
Last Checked: Nov 8 at 10:41PM
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 Bay Valley Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-unit residential property is fully occupied and contains 1,592 square feet. Built in 1900, it has natural gas service, a basement, and vinyl siding. Public sanitary service is listed for the property.
The parcel is 0.11 acres, measuring 50x100, and includes alley access. The property is at 3226 N Water Street in Bay City, Michigan.
The parcel is 0.11 acres, measuring 50x100, and includes alley access. The property is at 3226 N Water Street in Bay City, Michigan.
Key Highlights
- All 3 units are occupied
- 1,592 square feet; built in 1900
- 0.11‑acre parcel measuring 50x100
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,307
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,140
$186.1K
Cap Rate 7%
$132,957
$133.0K
Cap Rate 9%
$103,411
$103.4K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$14.3K $9.00/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$13.3K $8.35/SF
− OpEx
−$4.0K −$2.51/SF
NOI
$9.3K $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 Rate 5%
$186,140
Cap Rate 7%
$132,957
Cap Rate 9%
$103,411
Alternative Uses
Best Use
Multifamily LT 5
$133.0K
$116.3K – $155.1K
NOI $9,307 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$125.0K
$109.3K – $145.8K
NOI $8,747 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$288.2K
$252.2K – $336.2K
NOI $20,174 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 48708, MI
25,860
Population
12,625
Households
2
Avg Household Size
41
Median Age
17%
College-Educated
89%
High-School Grad
29.1 sq mi
ZIP Area
889
Density / Sq Mi
$50,216
Median Household Income
$31,978
Median Earnings
$703
Median Rent
$98,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - All three residential units are occupied, and the property includes natural gas service and a basement.
Where is this triplex located?
The property is located at 3226 N Water Street Bay City, MI.
What is the asking price?
The asking price for this property is $152,000.
What are key features of this property?
This property features: All 3 units are occupied; 1,592 square feet; built in 1900; 0.11‑acre parcel measuring 50x100
