Four-Unit
For Sale
$174,900
710 Chesaning Street, Saint Charles, MI 48655
MULTIFAMILY, Saint Charles, MI
Property Size2,716 SF
Lot Size0.61 Acres
Price / SF$64.40
Days on Market341
Property Features for 710 Chesaning Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2
Subdivision
St Charles Township
Elementary school district
St Charles Community Schools
Middle school district
St Charles Community Schools
High school district
St Charles Community Schools
Standard status
Active
APN
24-10-3-05-0934-000
Size
2,716 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5929
Utilities
Heating system
Forced Air, Oil
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Mark Greskowiak · License #6506036834
(989) 781-6979
Added: Oct 5, 2025
Changed: Sep 5
Last Checked: Sep 10 at 11:06AM
MLS# 50190549
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,716-square-foot quadplex contains four separate apartments within a 1900-built residential property. Two first-floor units each offer two bedrooms and one bathroom, while the two upper-level apartments each include one bedroom and one bathroom. Three of the four units are currently occupied.
The property occupies 0.61 acres at 710 Chesaning Street in Saint Charles, Michigan. Building systems include forced-air heating fueled by oil, and the property is served by public water. The unit mix provides a combination of two-bedroom and one-bedroom apartments within one residential income property.
The property occupies 0.61 acres at 710 Chesaning Street in Saint Charles, Michigan. Building systems include forced-air heating fueled by oil, and the property is served by public water. The unit mix provides a combination of two-bedroom and one-bedroom apartments within one residential income property.
Key Highlights
- Four‑unit quadplex with 2,716 square feet
- Two first‑floor apartments with 2 bedrooms and 1 bathroom each
- Two upper‑level apartments with 1 bedroom and 1 bathroom each
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
$16,091
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
9.20%
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%
$321,820
$321.8K
Cap Rate 7%
$229,871
$229.9K
Cap Rate 9%
$178,789
$178.8K
Market Conditions
NOI Build-Up for 2,716 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
$24.8K $9.12/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$23.0K $8.46/SF
− OpEx
−$6.9K −$2.54/SF
NOI
$16.1K $5.92/SF
Area
Saginaw County, MI
Vacancy
7.20%
Lease Rate
$9.12 /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%
$321,820
Cap Rate 7%
$229,871
Cap Rate 9%
$178,789
Alternative Uses
Best Use
Multifamily LT 5
$229.9K
$201.1K – $268.2K
NOI $16,091 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$218.3K
$191.1K – $254.7K
NOI $15,284 @ 7.0% cap · market cap 8.74%
Theoretical Best
Specialty Retail
$501.8K
$439.1K – $585.4K
NOI $35,126 @ 7.0% cap · market cap 20.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 48655, MI
6,033
Population
2,469
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
94%
High-School Grad
93.9 sq mi
ZIP Area
64
Density / Sq Mi
$64,615
Median Household Income
$43,918
Median Earnings
$633
Median Rent
$157,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments include a two-bedroom layout and one-bedroom units, with three of the four apartments currently occupied.
Where is this quadplex located?
The property is located at 710 Chesaning Street Saint Charles, MI.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Four‑unit quadplex with 2,716 square feet; Two first‑floor apartments with 2 bedrooms and 1 bathroom each; Two upper‑level apartments with 1 bedroom and 1 bathroom each
