Duplex with Deeded Lake
433 Joslyn Road, Orion Twp, MI 48362
For Sale
New
$274,999
MULTIFAMILY, Orion Twp, MI
Property Size1,390 SF
Lot Size0.38 Acres
Price / SF$197.84
Days on Market4
Property Features for 433 Joslyn Road
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Utilities
Heating system
Water source
Amenities
deeded lake access
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
KW Platinum · Keller Williams Realty
(586) 949-0200
Listed By:
Justin Gazdick · License #6506048702
(586) 876-0372
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 7 at 2:06PM
MLS# 50227015
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1950, this ranch-style duplex contains two units totaling 1,390 square feet. Each residence has two bedrooms and one full bathroom, with forced-air heating and natural gas. The units received updates within the past four years, including kitchen cabinetry, granite countertops, appliances, and bathroom improvements. A new air-conditioning unit was installed in May 2024, followed by a hot water tank replacement in May 2023.
The property at 433 Joslyn Road includes deeded access to Square Lake. It sits on a 0.38-acre parcel and has a crawl-space foundation and private water service.
The property at 433 Joslyn Road includes deeded access to Square Lake. It sits on a 0.38-acre parcel and has a crawl-space foundation and private water service.
Key Highlights
- Two units, each with two bedrooms and one full bathroom
- 1,390‑square‑foot duplex on 0.38 acres
- Deeded access to Square Lake
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 separately occupied residences each offer two bedrooms, one bathroom, and single-level living.
Where is this duplex located?
The property is located at 433 Joslyn Road Orion Twp, 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 two bedrooms and one full bathroom; 1,390‑square‑foot duplex on 0.38 acres; Deeded access to Square Lake
