Building Details

Building Size 3,044 SF

Year Built 1884

Units 4

Listing Agency: Century 21 Signature Realty

Listed By: Angie Muehlfeld · License #6506047050 Show Phone

Source: Elliman

Added: Jul 12 Changed: Oct 15 Last Checked: Oct 16 at 11:04AM

Report an Issue

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 Century 21 Signature Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This four-unit multi-family rental building includes three units with two bedrooms and one bathroom, all currently rented. A separate one-bedroom, one-bath unit is vacant.

The property is located near Michigan and Court St in downtown Saginaw. WalkScore is listed as 61 (Somewhat Walkable), and BikeScore is listed as 53 (Bikeable).

The offering is for a four-unit apartment property with a mix of two-bedroom and one-bedroom configurations across the building.

Key Highlights

• Four‑unit multi‑family rental built in 1884
• Three units are 2‑bedroom, 1‑bath and currently rented
• One 1‑bedroom, 1‑bath unit is vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,034

Cap Rate

8.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$360,680 $360.7K

Cap Rate 7%

$257,629 $257.6K

Cap Rate 9%

$200,378 $200.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,044 SF

Gross rent

$27.8K $9.12/SF

− Vacancy

−$2.0K −$0.66/SF

EGI

$25.8K $8.46/SF

− OpEx

−$7.7K −$2.54/SF

NOI

$18.0K $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 Rate 5%

$360,680

Cap Rate 7%

$257,629

Cap Rate 9%

$200,378

Alternative Uses

Best Use

Multifamily LT 5

$257.6K

$225.4K – $300.6K (±1% cap)

NOI $18,034 @ 7.0% cap · market cap 8.59%

Second Best

Apartment 5plus

$244.7K

$214.1K – $285.5K (±1% cap)

NOI $17,129 @ 7.0% cap · market cap 8.16%

Theoretical Best

Specialty Retail

$562.4K

$492.1K – $656.1K (±1% cap)

NOI $39,368 @ 7.0% cap · market cap 18.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Electrical Service Parking Lot & Garage Accounting Firm Garden Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

75%

Occupancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

876

Businesses Nearby

Explore this area Business Placement

Demographics for 48602, MI

27,613

Population

12,286

Households

2.2

Avg Household Size

36

Median Age

15%

College-Educated

83%

High-School Grad

7.8 sq mi

ZIP Area

3,540

Density / Sq Mi

$46,068

Median Household Income

$29,611

Median Earnings

$902

Median Rent

$70,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Similar For Sale Nearby

See more

Medical Office with Private Suites

6000 Dixie Hwy, Saginaw, MI 48601

$175,000

3,260 SF

View details

Law Office Building with Basement

820 N Michigan Ave, Saginaw, MI 48602

$245,000

3,310 SF

View details

Duplex With One-Bedroom Addition

800 S Center Road, Saginaw, MI 48638

$244,900

2,746 SF

View details

Renovated Mixed-Use Property with Bar

5463 Dixie Highway, Saginaw, MI 48601

$269,900

2,579 SF

View details

Day Care Center with Fenced Yard

511 S Center Rd, Saginaw, MI 48638

$275,000

2,560 SF

View details

Saginaw Township Duplex For Sale

1525 Pius, Saginaw, MI 48638

$180,000

2,320 SF

View details

All-Brick Triplex with Laundry

623 S Warren Avenue, Saginaw, MI 48607

$99,000

3,296 SF

View details

Two-Unit Duplex with Newer Roof

6129 Weiss St, SaginawCharterTownship_, Saginaw, MI 48603

$279,900

View details

Occupied Triplex

407 S Porter Street, Saginaw, MI 48602

$114,900

2,610 SF

View details

8-Bay Self-Service Car Wash

5790 Dixie Hwy, Saginaw, MI 48601

$289,900

3,920 SF

View details

Vitamin Shoppe Investment Property

4875 Bay Rd, Saginaw, MI 48603

$1,340,000

3,096 SF

View details

Drive-Through Retail/Medical Building

6161 State St, Saginaw, MI 48603

$439,900

2,574 SF

View details

Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit multi-family rental with three two-bedroom units and one vacant one-bedroom unit.

Where is this quadplex located?

The property is located at 403 N Fayette St Saginaw, MI.

What is the asking price?

The asking price for this property is $209,900.

What are key features of this property?

This property features: Four‑unit multi‑family rental built in 1884; Three units are 2‑bedroom, 1‑bath and currently rented; One 1‑bedroom, 1‑bath unit is vacant