Duplex with Upper-Level
703 E Main St, Owosso, MI 48867
For Sale
$134,900
Interior French doors provide a connection between the floors, alongside a separate one-bedroom, one-bathroom unit upstairs.
Property Size1,676 SF
Price / SF$80.49
Days on Market15
Property Features for 703 E Main St
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
The Home Office Realty LLC
Listed By:
Morgan Beilfuss · License MI #6501277052
(989) 277-7860
Source:
Vmrealestatemichigan
Added: Oct 27
Changed: Nov 3
Last Checked: Nov 8 at 7:12AM
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 The Home Office Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1930, this 1,676-square-foot duplex has a renovated main floor with a large living room, formal dining room, primary bedroom, updated bath, and laundry. The kitchen includes appliances, recessed lighting, and crown molding. French doors connect the main floor to the upper apartment, which has one bedroom, one bathroom, a kitchen, and a landing room. The property has rental certification and could also function as a single-family home.
Vinyl siding and blown-in insulation are among the building features. The roof and furnace and A/C date to 2010; the A/C condenser was updated in 2025. Plumbing updates and main-floor appliances are from 2025, while the water heater dates to 2019 and upper-level appliances to 2019.
Vinyl siding and blown-in insulation are among the building features. The roof and furnace and A/C date to 2010; the A/C condenser was updated in 2025. Plumbing updates and main-floor appliances are from 2025, while the water heater dates to 2019 and upper-level appliances to 2019.
Key Highlights
- 1,676‑square‑foot duplex with rental certification
- Upper apartment includes 1 bedroom, 1 bathroom, a kitchen, and a landing room
- Main floor has a large living room, formal dining room, primary bedroom, and laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,318
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,360
$246.4K
Cap Rate 7%
$175,971
$176.0K
Cap Rate 9%
$136,867
$136.9K
Market Conditions
NOI Build-Up for 1,676 SF
Gross rent
$24.1K $14.40/SF
− Vacancy
−$1.7K −$1.04/SF
EGI
$22.4K $13.36/SF
− OpEx
−$10.1K −$6.01/SF
NOI
$12.3K $7.35/SF
Area
Shiawassee County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,360
Cap Rate 7%
$175,971
Cap Rate 9%
$136,867
Alternative Uses
Best Use
Multifamily LT 5
$196.7K
$172.1K – $229.5K
NOI $13,771 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$176.0K
$154.0K – $205.3K
NOI $12,318 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$319.5K
$279.6K – $372.8K
NOI $22,367 @ 7.0% cap · market cap 16.58%
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
709
Businesses Nearby
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Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
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 - Interior French doors provide a connection between the floors, alongside a separate one-bedroom, one-bathroom unit upstairs.
Where is this duplex located?
The property is located at 703 E Main St Owosso, MI.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: 1,676‑square‑foot duplex with rental certification; Upper apartment includes 1 bedroom, 1 bathroom, a kitchen, and a landing room; Main floor has a large living room, formal dining room, primary bedroom, and laundry
