Remodeled Brick
For Sale
$275,000
708 Upton Ave, Springfield, MI 49037
Two-unit property offers central air, updated systems, and separate living spaces.
Property Size2,658 SF
Price / SF$103.46
Days on Market67
Property Features for 708 Upton Ave
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
central air
Building Details
Year Built
1945
Construction
brick
Listing Agency:
Pearse Realty, Inc.
Listed By:
Scott Keith Hisler · License #6501381876
(269) 274-2234
Source:
Findmichiganhomelistings
Added: Aug 22
Changed: Oct 25
Last Checked: Oct 26 at 4:36PM
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 Pearse Realty, Inc.
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Investment Insights
Based on property information with market context.
This brick duplex contains 2,658 square feet and was built in 1945. Recent improvements include resurfaced hardwood floors, new windows, updated plumbing and electrical systems, fresh paint, a blacktop driveway, and a new concrete patio. Central air serves both units, with 200 AMP electrical service and newer appliances, including gas stoves.
Both basements feature new egress windows, expanding the usable space. Unit 708 is the larger residence and includes a small recreation room, a small bedroom, an additional toilet, and a second shower. The property is located at 708 Upton Ave in Springfield, Michigan.
Both basements feature new egress windows, expanding the usable space. Unit 708 is the larger residence and includes a small recreation room, a small bedroom, an additional toilet, and a second shower. The property is located at 708 Upton Ave in Springfield, Michigan.
Key Highlights
- 2,658‑square‑foot brick duplex built in 1945
- Central air in both units with 200 AMP service
- Recent updates include plumbing, electrical, windows, paint, and hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,253
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,060
$465.1K
Cap Rate 7%
$332,186
$332.2K
Cap Rate 9%
$258,367
$258.4K
Market Conditions
NOI Build-Up for 2,658 SF
Gross rent
$35.1K $13.20/SF
− Vacancy
−$1.9K −$0.70/SF
EGI
$33.2K $12.50/SF
− OpEx
−$10.0K −$3.75/SF
NOI
$23.3K $8.75/SF
Area
Calhoun County, MI
Vacancy
5.32%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,060
Cap Rate 7%
$332,186
Cap Rate 9%
$258,367
Alternative Uses
Best Use
Multifamily LT 5
$332.2K
$290.7K – $387.6K
NOI $23,253 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$288.6K
$252.6K – $336.7K
NOI $20,204 @ 7.0% cap · market cap 7.35%
Theoretical Best
Healthcare Medical
$31.53M
$27.59M – $36.79M
NOI $2,207,110 @ 7.0% cap · market cap 802.59%
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
200
Businesses Nearby
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Business Placement
Demographics for 49037, MI
21,427
Population
9,971
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
1,110
Density / Sq Mi
$42,598
Median Household Income
$32,024
Median Earnings
$843
Median Rent
$90,600
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 - Two-unit property offers central air, updated systems, and separate living spaces.
Where is this duplex located?
The property is located at 708 Upton Ave Springfield, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,658‑square‑foot brick duplex built in 1945; Central air in both units with 200 AMP service; Recent updates include plumbing, electrical, windows, paint, and hardwood flooring
