Brick Duplex Investment
For Sale
$150,000
4253 Main Street, Brown City, MI 48416
MULTI_FAMILY - Other - Brown City, MI
Property Size1,792 SF
Lot Size0.11 Acres
Price / SF$83.71
Days on Market48
Property Features for 4253 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Pets allowed
Call
Interior features
Laundry Facility
Subdivision
R G Browns Sub
Elementary school district
Brown City
Middle school district
Brown City
High school district
Brown City
Directions
Southwest corner of Main and Lincoln
Standard status
Active
APN
30014000400100
Size
1,792 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
R. G. BROWNS DIV. OF BROWN CITY N 70 FT OF LOT 1 BLK 4
Tax Annual Amount
1900
Legal Description
R. G. BROWNS DIV. OF BROWN CITY N 70 FT OF LOT 1 BLK 4
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Elite Realty
(734) 513-2166
Listed By:
Rebecca Vincent
(734) 513-2166
Added: Jul 14
Changed: Aug 2
Last Checked: Aug 30 at 11:06AM
MLS# 20261054135
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 brick duplex features two rental units with long-term tenants. One side is set up as a beauty salon with fixtures and equipment that are owned by the salon operator. The other unit is a two-bedroom, one-bath apartment with in-unit laundry.
The property was built in 1945 and includes laundry facilities, baseboard heat, and window unit cooling. Water service is public. The building has been well maintained, including a new Duro-Last roof installed, plus a metal roof on the overhang and new soffits installed within the last few years.
Tenants rights apply to showings and possession. The duplex is positioned as a ready-to-rent investment with a two-part configuration supporting both commercial-leaning and residential use within the same building, under commercial zoning.
The property was built in 1945 and includes laundry facilities, baseboard heat, and window unit cooling. Water service is public. The building has been well maintained, including a new Duro-Last roof installed, plus a metal roof on the overhang and new soffits installed within the last few years.
Tenants rights apply to showings and possession. The duplex is positioned as a ready-to-rent investment with a two-part configuration supporting both commercial-leaning and residential use within the same building, under commercial zoning.
Key Highlights
- Two long‑term rented units: salon space plus a two‑bedroom, one‑bath apartment with in‑unit laundry
- New Duro‑Last roof installed; metal roof on overhang and new soffits installed within the last few years
- Brick duplex built in 1945
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
$9,875
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
6.58%
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%
$197,500
$197.5K
Cap Rate 7%
$141,071
$141.1K
Cap Rate 9%
$109,722
$109.7K
Market Conditions
NOI Build-Up for 1,792 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
$15.3K $8.52/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$14.1K $7.87/SF
− OpEx
−$4.2K −$2.36/SF
NOI
$9.9K $5.51/SF
Area
Sanilac County, MI
Vacancy
7.60%
Lease Rate
$8.52 /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%
$197,500
Cap Rate 7%
$141,071
Cap Rate 9%
$109,722
Alternative Uses
Best Use
Multifamily LT 5
$141.1K
$123.4K – $164.6K
NOI $9,875 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$124.4K
$108.8K – $145.1K
NOI $8,705 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$380.6K
$333.0K – $444.0K
NOI $26,641 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 48416, MI
4,906
Population
2,068
Households
2.4
Avg Household Size
42
Median Age
13%
College-Educated
88%
High-School Grad
113.8 sq mi
ZIP Area
43
Density / Sq Mi
$68,650
Median Household Income
$38,405
Median Earnings
$854
Median Rent
$212,700
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-unit duplex with long-term tenants, including a salon space and a two-bedroom apartment with in-unit laundry.
Where is this duplex located?
The property is located at 4253 Main Street Brown City, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two long‑term rented units: salon space plus a two‑bedroom, one‑bath apartment with in‑unit laundry; New Duro‑Last roof installed; metal roof on overhang and new soffits installed within the last few years; Brick duplex built in 1945
