Side-by-Side Duplex
For Sale
$145,000
3509 Ridgecliffe Dr, Flint, MI 48532
Two occupied units each include a full basement, with separate configurations and ample parking plus a fenced backyard.
Property Size1,563 SF
Days on Market48
Property Features for 3509 Ridgecliffe Dr
General Information
Standard status
Active
Size
1,563 SF
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,196
Building Details
Building Size
1,563 SF
Year Built
1965
Units
2
Listed By:
Jaime Vasquez · License #6501376674
(810) 836-4304
Source:
Elliman
Added: Jul 20
Changed: Aug 31
Last Checked: Sep 5 at 1:27PM
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 Jaime Vasquez
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two independently laid out units, each with its own full basement. Unit 1 features 1 bedroom and 1 full bathroom with a spacious living room, and Unit 2 features 2 bedrooms and 1 full bathroom with a large living room.
Both units are currently occupied. Tenants are responsible for gas and electric, while the owner currently pays water. The property includes ample parking and a fenced backyard.
Located in the Carman-Ainsworth School District, the duplex provides convenient access to shopping, dining, and major roadways. Photos reflect the vacant unit, and the occupied unit may be viewed and inspected upon submission of an accepted offer. Buyer and buyer’s agent to verify all information in this listing.
Both units are currently occupied. Tenants are responsible for gas and electric, while the owner currently pays water. The property includes ample parking and a fenced backyard.
Located in the Carman-Ainsworth School District, the duplex provides convenient access to shopping, dining, and major roadways. Photos reflect the vacant unit, and the occupied unit may be viewed and inspected upon submission of an accepted offer. Buyer and buyer’s agent to verify all information in this listing.
Key Highlights
- Side‑by‑side duplex built in 1965 with both units currently occupied
- Unit 1: 1 bed, 1 full bath; rented for $700/month; includes a full basement
- Unit 2: 2 beds, 1 full bath; rented for $850/month; includes a separate full basement
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
$11,978
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
8.26%
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%
$239,560
$239.6K
Cap Rate 7%
$171,114
$171.1K
Cap Rate 9%
$133,089
$133.1K
Market Conditions
NOI Build-Up for 1,563 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
$23.1K $14.76/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$21.8K $13.93/SF
− OpEx
−$9.8K −$6.27/SF
NOI
$12.0K $7.66/SF
Area
Genesee County, MI
Vacancy
5.60%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$239,560
Cap Rate 7%
$171,114
Cap Rate 9%
$133,089
Alternative Uses
Best Use
Multifamily LT 5
$191.8K
$167.8K – $223.8K
NOI $13,425 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,978 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$328.9K
$287.8K – $383.7K
NOI $23,023 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 48532, MI
19,247
Population
9,093
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
88%
High-School Grad
16.0 sq mi
ZIP Area
1,203
Density / Sq Mi
$58,118
Median Household Income
$34,361
Median Earnings
$929
Median Rent
$157,300
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 - Two occupied units each include a full basement, with separate configurations and ample parking plus a fenced backyard.
Where is this duplex located?
The property is located at 3509 Ridgecliffe Dr Flint, MI.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1965 with both units currently occupied; Unit 1: 1 bed, 1 full bath; rented for $700/month; includes a full basement; Unit 2: 2 beds, 1 full bath; rented for $850/month; includes a separate full basement
