Updated Duplex with Private
New
For Sale
$139,000
346 Weiss Street, Saginaw, MI 48604
Multifamily, 2 Story, Carrollton Twp, MI
Property Size1,948 SF
Lot Size0.20 Acres
Price / SF$71.36
Days on Market2
Property Features for 346 Weiss Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2
Pets allowed
Yes
Interior features
Laundry Facility
Subdivision
John J Weiss Add To Saginaw City
Elementary school district
Carrollton
Middle school district
Carrollton
High school district
Carrollton
Directions
North of Michgain right to Weiss
Standard status
Active
APN
11124052381000
Size
1,948 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
LOT 1 EXC E 70FT ALSO S 20 FT OF LOT 2 EXC E 70 FT THEREOF BLK 5 JOHN J WEISS ADD TO THE CITY OF SAGINAW SEC 13 T12N R4E
Tax Annual Amount
1729
Legal Description
LOT 1 EXC E 70FT ALSO S 20 FT OF LOT 2 EXC E 70 FT THEREOF BLK 5 JOHN J WEISS ADD TO THE CITY OF SAGINAW SEC 13 T12N R4E
Utilities
Heating system
Forced Air
Water source
Public
Amenities
private laundry room
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Building materials
Wood
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams First · Keller Williams Realty
(810) 515-1503
Listed By:
Bahia M Jarrah · License #6501324031
(810) 813-7260
Added: Sep 9
Last Checked: Sep 10 at 4:06PM
MLS# 20261072824
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,948-square-foot duplex contains two three-bedroom, one-bath units, each with a separate living area and private laundry room. The wood-frame building was constructed in 1960 and has received extensive recent improvements, including a new roof, new siding, interior paint, and a new kitchen in one unit. One apartment includes a full appliance package, while the other has a refrigerator and stove. Forced-air heating, an asphalt roof, and public water serve the property.
The 0.2-acre property is located at the corner of Weiss Street and Eddy Street in Carrollton Twp, Michigan. One unit is leased at $1,000 per month, while the second unit is vacant and available for occupancy or leasing. The property is zoned Multi-Family and includes a 1948-square-foot building.
The 0.2-acre property is located at the corner of Weiss Street and Eddy Street in Carrollton Twp, Michigan. One unit is leased at $1,000 per month, while the second unit is vacant and available for occupancy or leasing. The property is zoned Multi-Family and includes a 1948-square-foot building.
Key Highlights
- Two 3‑bedroom, 1‑bath units in a 1,948‑square‑foot duplex
- 0.2‑acre property at the corner of Weiss Street and Eddy Street
- Recent improvements include new roof, siding, interior paint, and one new kitchen
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer separate living spaces, private laundry rooms, and flexible occupancy for an owner or tenants.
Where is this duplex located?
The property is located at 346 Weiss Street 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 in a 1,948‑square‑foot duplex; 0.2‑acre property at the corner of Weiss Street and Eddy Street; Recent improvements include new roof, siding, interior paint, and one new kitchen
