Duplex With Private
New
For Sale
$139,000
346 Weiss St, Saginaw, MI 48604
Recently renovated two-unit property with one leased residence and one available for occupancy or rent.
Property Size1,948 SF
Price / SF$71.36
Days on Market6
Property Features for 346 Weiss St
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
private laundry room
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Homecraft Real Estate
(734) 329-0123
Listed By:
Oak & Stone Real Estate
(248) 266-0584
Source:
Oakandstonerealestate
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 15 at 7:23AM
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 Homecraft Real Estate
Investment Insights
Based on property information with market context.
This 1,948-square-foot duplex contains two separate three-bedroom, one-bath residences, each with its own laundry room and living area. Recent work includes a new roof, new siding, fresh interior paint, and a new kitchen in one unit. Appliance packages vary: one residence includes a full set, while the other has a refrigerator and stove.
One unit is leased, while the second is vacant and available for an owner occupant or a new tenant. The property sits at the corner of Weiss and Eddy and offers access to major roads, shopping, restaurants, schools, and everyday amenities. Built in 1960, the duplex provides a combination of updated building components and flexible occupancy options.
One unit is leased, while the second is vacant and available for an owner occupant or a new tenant. The property sits at the corner of Weiss and Eddy and offers access to major roads, shopping, restaurants, schools, and everyday amenities. Built in 1960, the duplex provides a combination of updated building components and flexible occupancy options.
Key Highlights
- Two 3‑bedroom, 1‑bath units totaling 1,948 SF
- Private laundry room in each residence
- New roof, siding, and interior paint completed recently
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
$11,541
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
8.30%
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%
$230,820
$230.8K
Cap Rate 7%
$164,871
$164.9K
Cap Rate 9%
$128,233
$128.2K
Market Conditions
NOI Build-Up for 1,948 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
$17.8K $9.12/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$16.5K $8.46/SF
− OpEx
−$4.9K −$2.54/SF
NOI
$11.5K $5.92/SF
Area
Saginaw County, MI
Vacancy
7.20%
Lease Rate
$9.12 /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%
$230,820
Cap Rate 7%
$164,871
Cap Rate 9%
$128,233
Alternative Uses
Best Use
Multifamily LT 5
$164.9K
$144.3K – $192.4K
NOI $11,541 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$156.6K
$137.0K – $182.7K
NOI $10,962 @ 7.0% cap · market cap 7.89%
Theoretical Best
Specialty Retail
$359.9K
$314.9K – $419.9K
NOI $25,193 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Recently renovated two-unit property with one leased residence and one available for occupancy or rent.
Where is this duplex located?
The property is located at 346 Weiss St Saginaw, MI.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units totaling 1,948 SF; Private laundry room in each residence; New roof, siding, and interior paint completed recently
