4-Unit Quadplex with Off-Street
New
For Sale
$439,900
513 CAYUGA, Bellaire, MI 49615
BELLAIRE, MI
Property Size1,700 SF
Lot Size0.34 Acres
Price / SF$258.76
Days on Market4
Property Features for 513 CAYUGA
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Elementary school
JOHN R RODGER ELEMENTARY SCHOOL
Middle school
BELLAIRE MIDDLE SCHOOL
High school
BELLAIRE PUBLIC HIGH SCHOOL
Subdivision
Kearney
Standard status
Active
Size
1,700 SF
Lot size
0.34 Acres
Additional Details
Tenant in Place
Yes
Building Details
Year built
1950
Listing Agency:
Bellaire · Coldwell Banker Real Estate
(231) 533-8641
Listed By:
Christopher Hale
(231) 676-3977
Added: Oct 27
Last Checked: Oct 30 at 6:06PM
MLS# 1951979
Copyright © 2026 Coldwell Banker Schmidt REALTORS. 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 1,700-square-foot quadplex on a 0.34-acre lot has four apartments: two one-bedroom units and two studios. Dedicated off-street parking serves the property, which is fully occupied.
The property at 513 Cayuga is a short walk from downtown Bellaire, including Short’s Brewing Company, local shops and eateries, and Richardi Park.
The property at 513 Cayuga is a short walk from downtown Bellaire, including Short’s Brewing Company, local shops and eateries, and Richardi Park.
Key Highlights
- Four units: two one‑bedroom apartments and two studios
- Fully occupied
- 1,700 square feet on a 0.34‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,402
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,040
$268.0K
Cap Rate 7%
$191,457
$191.5K
Cap Rate 9%
$148,911
$148.9K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$22.2K $13.08/SF
− Vacancy
−$3.1K −$1.82/SF
EGI
$19.1K $11.26/SF
− OpEx
−$5.7K −$3.38/SF
NOI
$13.4K $7.88/SF
Area
Antrim County, MI
Vacancy
13.90%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,040
Cap Rate 7%
$191,457
Cap Rate 9%
$148,911
Alternative Uses
Best Use
Multifamily LT 5
$191.5K
$167.5K – $223.4K
NOI $13,402 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$183.1K
$160.2K – $213.6K
NOI $12,816 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$302.5K
$264.7K – $353.0K
NOI $21,177 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 49615, MI
4,161
Population
3,575
Households
1.2
Avg Household Size
57
Median Age
44%
College-Educated
97%
High-School Grad
68.4 sq mi
ZIP Area
61
Density / Sq Mi
$78,750
Median Household Income
$38,635
Median Earnings
$775
Median Rent
$257,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The fully occupied building contains two one-bedroom apartments and two studio units.
Where is this quadplex located?
The property is located at 513 CAYUGA Bellaire, MI.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Four units: two one‑bedroom apartments and two studios; Fully occupied; 1,700 square feet on a 0.34‑acre lot
