New Davison Duplex
For Sale
$318,000
3367 Meadowridge, Davison, MI 48423
New duplex-style condos in Richfield Township, ready May 2025.
Property Size1,266 SF
Days on Market488
Property Features for 3367 Meadowridge
General Information
Standard status
Active
Size
1,266 SF
Property subtype
Condominium
Amenities
Forced Air
Central A/C
Building Details
Building Size
1,266 SF
Year Built
2025
Stories
2
Listing Agency:
The Brokaw Group
(810) 600-2060
Listed By:
Bethany A Brokaw
(810) 600-2060
Source:
Kw
Added: Apr 21, 2025
Changed: Aug 12
Last Checked: Aug 20 at 7:29PM
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 The Brokaw Group
Investment Insights
Based on property information with market context.
Forest Creek West, a new development by Johnsons Developments, offers duplex-style condos in Richfield Township, minutes from Davison amenities. These end-unit condos are attached only at the garage, ensuring privacy. Base pricing for full basement units with egress starts at $304,000. Daylight units start at $314,000, and walkout units are priced from $334,000 (or $350,000 for walkout units with a finished third bedroom and bathroom in the basement). The properties are scheduled to be ready for occupancy May 1st 2025. Standard features include durable luxury plank vinyl flooring, granite counters, and Kraftmaid cabinetry. Customize and build your dream condo.
Key Highlights
- New construction condo in Davison's Forest Creek West, ready May 1st, 2025.
- End‑unit duplex design attached only at the garage, maximizing privacy.
- Located in a rural setting (Richfield Township) yet close to Davison amenities.
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
$10,874
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
3.42%
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%
$217,480
$217.5K
Cap Rate 7%
$155,343
$155.3K
Cap Rate 9%
$120,822
$120.8K
Market Conditions
NOI Build-Up for 1,266 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
$16.4K $12.96/SF
− Vacancy
−$873 −$0.69/SF
EGI
$15.5K $12.27/SF
− OpEx
−$4.7K −$3.68/SF
NOI
$10.9K $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 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%
$217,480
Cap Rate 7%
$155,343
Cap Rate 9%
$120,822
Alternative Uses
Best Use
Multifamily LT 5
$155.3K
$135.9K – $181.2K
NOI $10,874 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$138.6K
$121.3K – $161.7K
NOI $9,702 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$266.4K
$233.1K – $310.8K
NOI $18,648 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 48423, MI
33,801
Population
15,248
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
524
Density / Sq Mi
$64,096
Median Household Income
$40,463
Median Earnings
$953
Median Rent
$209,400
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 - New duplex-style condos in Richfield Township, ready May 2025.
Where is this duplex located?
The property is located at 3367 Meadowridge Davison, MI.
What is the asking price?
The asking price for this property is $318,000.
What are key features of this property?
This property features: New construction condo in Davison's Forest Creek West, ready May 1st, 2025.; End‑unit duplex design attached only at the garage, maximizing privacy.; Located in a rural setting (Richfield Township) yet close to Davison amenities.
