Updated Two-Unit
433 Joslyn Rd, Lake Orion, MI 48362
For Sale
New
$274,999
Two separate residences provide two-bedroom layouts, recent interior improvements, and deeded access to Square Lake.
Property Size1,390 SF
Lot Size0.35 Acres
Days on Market2
Property Features for 433 Joslyn Rd
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
deeded lake access
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Keller Williams Realty Macomb-St. Clair Market Center
Listed By:
Justin Gazdick · License #6506048702
(586) 876-0372
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 2:58PM
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 Keller Williams Realty Macomb-St. Clair Market Center
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Investment Insights
Based on property information with market context.
This ranch-style duplex contains two single-story units, each with two bedrooms and one full bathroom. Both residences received updates within the past four years, including kitchen cabinets, granite countertops, appliances, and bathrooms. The property was built in 1950 and occupies approximately 0.35 acres. Mechanical improvements include an air conditioning unit installed in May 2024 and a hot water tank added in May 2023. Forced-air heating and natural gas serve both units; the building has a crawl-space foundation.
Deeded lake access to Square Lake is included. The property is located in Pleasant View Park in Lake Orion, Michigan.
Deeded lake access to Square Lake is included. The property is located in Pleasant View Park in Lake Orion, Michigan.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- Approximately 0.35 acres
- Both residences updated within the past 4 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,398
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,960
$368.0K
Cap Rate 7%
$262,829
$262.8K
Cap Rate 9%
$204,422
$204.4K
Market Conditions
NOI Build-Up for 1,390 SF
Gross rent
$27.5K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$26.3K $18.91/SF
− OpEx
−$7.9K −$5.67/SF
NOI
$18.4K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,960
Cap Rate 7%
$262,829
Cap Rate 9%
$204,422
Alternative Uses
Best Use
Multifamily LT 5
$262.8K
$230.0K – $306.6K
NOI $18,398 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$243.6K
$213.1K – $284.2K
NOI $17,050 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$299.8K
$262.3K – $349.8K
NOI $20,987 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
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Business Placement
Demographics for 48362, MI
15,001
Population
6,428
Households
2.3
Avg Household Size
42
Median Age
44%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
1,485
Density / Sq Mi
$108,667
Median Household Income
$51,826
Median Earnings
$1,095
Median Rent
$313,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Oakland County, MI
Properties on Market for Duplexes in Oakland County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide two-bedroom layouts, recent interior improvements, and deeded access to Square Lake.
Where is this duplex located?
The property is located at 433 Joslyn Rd Lake Orion, MI.
What is the asking price?
The asking price for this property is $274,999.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; Approximately 0.35 acres; Both residences updated within the past 4 years
