Two-Unit Residential Income
For Sale
$116,000
400 S Kiesel Street, Bay City, MI 48706
MULTI_FAMILY - Bay City, MI
Property Size1,629 SF
Lot Size0.14 Acres
Price / SF$71.21
Days on Market80
Property Features for 400 S Kiesel Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Interior features
Cable/Internet Avail.
Exterior features
Sidewalks, Street Lights
Appliances
Range/Oven, Refrigerator
Subdivision
FITZHUGH & KIESELS SUB
Lot features
Corner Lot, Platted
Elementary school district
Bay City School District
Middle school district
Bay City School District
High school district
Bay City School District
Standard status
Active
APN
160-020-354-009-00
Size
1,629 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2647
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1919
Floors in Building
2
Number of units
2
Listing Agency:
Wilson Realty
(989) 793-5650
Listed By:
Nathon Wilson · License #6506042802
(989) 737-3411
Added: May 13
Changed: Jul 29
Last Checked: Jul 31 at 8:06AM
MLS# 50207370
Copyright © 2026 Saginaw Board of Realtors MLS. 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 two-unit residential income property includes two-bed/one-bath and one-bed/one-bath floorplans, with both units currently rented. According to the public remarks, the owner pays electricity and water, while gas is separated.
The property is located at 400 S Kiesel Street in Bay City, Michigan (48706). The building sits on a 0.14-acre lot.
For investors or owner-occupants seeking existing income, the current rental status and unit mix provide a straightforward residential configuration within a duplex-style multifamily asset.
The property is located at 400 S Kiesel Street in Bay City, Michigan (48706). The building sits on a 0.14-acre lot.
For investors or owner-occupants seeking existing income, the current rental status and unit mix provide a straightforward residential configuration within a duplex-style multifamily asset.
Key Highlights
- Duplex/multifamily with 2 units; both units are currently rented
- Unit mix includes two 2‑bed/1‑bath units and one 1‑bed/1‑bath unit
- Owner pays electric and water; gas is separated
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.7k | $9.00 |
| − Vacancy | −$1.1k | −$0.65 |
| EGI | $13.6k | $8.35 |
| − OpEx | −$4.1k | −$2.51 |
| NOI | $9.5k | $5.85 |
1,629 SF · lease $9.00/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$136.1K
$119.1K – $158.7K
NOI $9,524 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$127.9K
$111.9K – $149.2K
NOI $8,950 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$294.9K
$258.0K – $344.1K
NOI $20,643 @ 7.0% cap · market cap 17.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily building with occupied units and separately metered gas; owner pays electric and water.
Where is this duplex located?
The property is located at 400 S Kiesel Street Bay City, MI.
What is the asking price?
The asking price for this property is $116,000.
What are key features of this property?
This property features: Duplex/multifamily with 2 units; both units are currently rented; Unit mix includes two 2‑bed/1‑bath units and one 1‑bed/1‑bath unit; Owner pays electric and water; gas is separated
