Updated Side-by-Side
For Sale
$169,900
504 N Monroe St, Bay City, MI 48708
Two separate residences with private outdoor areas, dedicated utility systems, and substantial basement storage.
Property Size1,786 SF
Price / SF$95.13
Days on Market63
Property Features for 504 N Monroe St
General Information
Standard status
Active
Size
1,786 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,382
Amenities
on-site laundry
porch
fenced backyard
fire pit
Listing Agency:
EXP Realty
(888) 501-7085
Listed By:
Brooklynn Luckhurst
(989) 534-6118
Source:
Exprealty
Added: Aug 31
Changed: Oct 25
Last Checked: Oct 30 at 6:41PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
Built in 1913, this side-by-side duplex contains two 2-bedroom, 1-bath residences with approximately 1,786 sf of finished above-grade space. The property also includes 1,600 sf of basement storage, on-site laundry, and an additional basement toilet. Each unit has separate electrical subpanels, GFCI protection, a gas meter, hot water heater, and dryer outlet, while water and sewer are shared. Refrigerators and ranges remain in both apartments.
The homes offer distinct interior character and layouts. Unit A includes hardwood flooring, 9-foot ceilings, original woodwork and staircase, a breakfast bar, clawfoot tub, and a large front window. Unit B features bay windows, a skylight, a spacious living room, and a single-level floor plan. Exterior improvements include fresh paint, a 3-year-old asphalt roof on the house, and a metal garage roof. The site has a 22x24 two-car garage, paved off-street parking for 3 cars, porches, and a mostly fenced backyard with a small fire pit.
Located at 504 N Monroe St in Bay City’s historical district, the property is within walking distance of downtown Bay City, the Historic Masonic Temple, Center Street, and the Uptown/riverfront districts. BikeScore is 62 and WalkScore is 67.
The homes offer distinct interior character and layouts. Unit A includes hardwood flooring, 9-foot ceilings, original woodwork and staircase, a breakfast bar, clawfoot tub, and a large front window. Unit B features bay windows, a skylight, a spacious living room, and a single-level floor plan. Exterior improvements include fresh paint, a 3-year-old asphalt roof on the house, and a metal garage roof. The site has a 22x24 two-car garage, paved off-street parking for 3 cars, porches, and a mostly fenced backyard with a small fire pit.
Located at 504 N Monroe St in Bay City’s historical district, the property is within walking distance of downtown Bay City, the Historic Masonic Temple, Center Street, and the Uptown/riverfront districts. BikeScore is 62 and WalkScore is 67.
Key Highlights
- Two 2‑bedroom, 1‑bath units with approximately 1,786 sf finished above grade
- 1,600 sf of additional storage, on‑site laundry, and a basement toilet
- 22x24 two‑car garage plus paved off‑street parking for 3 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,442
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,840
$208.8K
Cap Rate 7%
$149,171
$149.2K
Cap Rate 9%
$116,022
$116.0K
Market Conditions
NOI Build-Up for 1,786 SF
Gross rent
$16.1K $9.00/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$14.9K $8.35/SF
− OpEx
−$4.5K −$2.51/SF
NOI
$10.4K $5.85/SF
Area
Bay County, MI
Vacancy
7.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,840
Cap Rate 7%
$149,171
Cap Rate 9%
$116,022
Alternative Uses
Best Use
Multifamily LT 5
$149.2K
$130.5K – $174.0K
NOI $10,442 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$140.2K
$122.7K – $163.6K
NOI $9,813 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$323.3K
$282.9K – $377.2K
NOI $22,632 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
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Business Placement
Demographics for 48708, MI
25,860
Population
12,625
Households
2
Avg Household Size
41
Median Age
17%
College-Educated
89%
High-School Grad
29.1 sq mi
ZIP Area
889
Density / Sq Mi
$50,216
Median Household Income
$31,978
Median Earnings
$703
Median Rent
$98,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences with private outdoor areas, dedicated utility systems, and substantial basement storage.
Where is this duplex located?
The property is located at 504 N Monroe St Bay City, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units with approximately 1,786 sf finished above grade; 1,600 sf of additional storage, on‑site laundry, and a basement toilet; 22x24 two‑car garage plus paved off‑street parking for 3 cars
