Historic Duplex With Three-Story
For Sale
$379,900
327 Reid Rd, Grand Blanc, MI 48439
Remodeled two-residence property with separate kitchens, living areas, and entrances within a landscaped city setting.
Property Size2,192 SF
Lot Size1.01 Acres
Days on Market48
Property Features for 327 Reid Rd
General Information
Standard status
Active
Size
2,192 SF
Lot size
1.01 Acres
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,881
Building Details
Building Size
2,192 SF
Year Built
1873
Units
2
Construction
Gothic Revival
Listing Agency:
RE/MAX Edge
Listed By:
Tammy Lord · License #6501270470
(810) 397-3803
Source:
Elliman
Added: Sep 1
Changed: Oct 2
Last Checked: Oct 16 at 9:57AM
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 Edge
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Investment Insights
Based on property information with market context.
Built in 1873, this Gothic Revival residence is configured as a duplex with two independent living arrangements. The main-level unit includes three bedrooms, a kitchen, and living areas, while the upper unit offers two bedrooms, its own kitchen, and separate living space. A private entrance serves the upper residence, and the original interior staircase remains in place. Remodeling incorporates detailed moldings, period architectural elements, and updated comforts without removing the property's historic character.
The property encompasses 1.01 acres within the City of Grand Blanc, with mature trees, perennial gardens, a fountain, and covered porches. Additional improvements include a carriage house, greenhouse space, and a three-story barn that provide space for storage, hobbies, gardening, or other personal uses. The existing configuration supports duplex occupancy, while the preserved staircase provides a physical connection between the two residences.
The property encompasses 1.01 acres within the City of Grand Blanc, with mature trees, perennial gardens, a fountain, and covered porches. Additional improvements include a carriage house, greenhouse space, and a three-story barn that provide space for storage, hobbies, gardening, or other personal uses. The existing configuration supports duplex occupancy, while the preserved staircase provides a physical connection between the two residences.
Key Highlights
- Duplex configuration with 3‑bedroom main‑level and 2‑bedroom upper residences
- Built in 1873 with Gothic Revival architecture and historic interior details
- 1.01 acres within the City of Grand Blanc
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,828
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,560
$376.6K
Cap Rate 7%
$268,971
$269.0K
Cap Rate 9%
$209,200
$209.2K
Market Conditions
NOI Build-Up for 2,192 SF
Gross rent
$28.4K $12.96/SF
− Vacancy
−$1.5K −$0.69/SF
EGI
$26.9K $12.27/SF
− OpEx
−$8.1K −$3.68/SF
NOI
$18.8K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,560
Cap Rate 7%
$268,971
Cap Rate 9%
$209,200
Alternative Uses
Best Use
Multifamily LT 5
$269.0K
$235.4K – $313.8K
NOI $18,828 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.0K
NOI $16,798 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$461.3K
$403.6K – $538.1K
NOI $32,288 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
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Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-residence property with separate kitchens, living areas, and entrances within a landscaped city setting.
Where is this duplex located?
The property is located at 327 Reid Rd Grand Blanc, MI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Duplex configuration with 3‑bedroom main‑level and 2‑bedroom upper residences; Built in 1873 with Gothic Revival architecture and historic interior details; 1.01 acres within the City of Grand Blanc
