Building Details

Year Built 1971

Units 2

Listing Agency: Cressy & Everett Real Estate m***@cressyeverett.com Show Phone

Listed By: Michael Barber · License #6506046456 Show Phone

Source: Compass

Added: Nov 17, 2025 Changed: Aug 7 Last Checked: Jul 24 at 1:04PM

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Investment Insights

Based on property information with market context.

This well-maintained duplex features two residential units configured as a 3-bedroom home on one side and a 2-bedroom home on the other. Updates reported for both sides include a new roof installed approximately three years ago, siding installed approximately two years ago, and additional improvements such as updated windows, flooring, kitchen cabinets, and furnaces since approximately 2010 or later. The 2-bedroom unit includes a front deck and a larger kitchen and living room, and both units share a back patio area.

The property is located near Eau Claire High School and its athletic field, with proximity to other offerings in southwest Michigan.

With its separate unit layouts and recent exterior and interior updates, the duplex can support an owner-occupied arrangement while also providing rental income from the second unit.

Key Highlights

• Well‑maintained duplex built in 1971 with two updated units (3‑bedroom on one side, 2‑bedroom on the other)
• New composition roof (3 years ago) and siding replaced (2 years ago)
• Updates since ~2010 include windows, flooring, kitchen cabinets, and furnaces

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

$7,683

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

3.07%

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%

$153,660 $153.7K

Cap Rate 7%

$109,757 $109.8K

Cap Rate 9%

$85,367 $85.4K

Market Conditions

NOI Build-Up for 840 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

$11.6K $13.80/SF

− Vacancy

−$617 −$0.73/SF

EGI

$11.0K $13.07/SF

− OpEx

−$3.3K −$3.92/SF

NOI

$7.7K $9.15/SF

Area

Berrien County, MI

Vacancy

5.32%

Lease Rate

$13.80 /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%

$153,660

Cap Rate 7%

$109,757

Cap Rate 9%

$85,367

Alternative Uses

Best Use

Multifamily LT 5

$109.8K

$96.0K – $128.1K (±1% cap)

NOI $7,683 @ 7.0% cap · market cap 3.07%

Second Best

Apartment 5plus

$97.9K

$85.7K – $114.3K (±1% cap)

NOI $6,856 @ 7.0% cap · market cap 2.74%

Theoretical Best

Office A

$176.8K

$154.7K – $206.2K (±1% cap)

NOI $12,373 @ 7.0% cap · market cap 4.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Furniture & Home Goods Building Supply Grocery & Convenience Store Pharmacy (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

82

Businesses Nearby

Explore this area Business Placement

Demographics for 49111, MI

3,506

Population

1,600

Households

2.2

Avg Household Size

45

Median Age

20%

College-Educated

91%

High-School Grad

43.4 sq mi

ZIP Area

81

Density / Sq Mi

$65,702

Median Household Income

$39,119

Median Earnings

$617

Median Rent

$164,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex offers two updated units with a shared back patio and separate outdoor decks.

Where is this duplex located?

The property is located at 6175-6177 Aubill Drive Eau Claire, MI.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: Well‑maintained duplex built in 1971 with two updated units (3‑bedroom on one side, 2‑bedroom on the other); New composition roof (3 years ago) and siding replaced (2 years ago); Updates since ~2010 include windows, flooring, kitchen cabinets, and furnaces