Saint Charles Investment
For Sale
$174,900
710 Chesaning St, Saint Charles, MI 48655
Four-unit residential property in Saint Charles, investment opportunity.
Property Size2,716 SF
Lot Size0.61 Acres
Days on Market165
Property Features for 710 Chesaning St
General Information
Standard status
Active
Size
2,716 SF
Lot size
0.61 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,929
Building Details
Building Size
2,716 SF
Year Built
1900
Units
4
Listing Agency:
Century 21 Signature Realty
(989) 781-6979
Listed By:
Mark Greskowiak · License #6506036834
(989) 781-6979
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 20 at 9:05AM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
This four-unit residential property in Saint Charles presents an investment opportunity. The building contains two first-floor apartments, each featuring two bedrooms and one bathroom. Additionally, there are two upstairs units, each with one bedroom and one bathroom. Currently, three of the four units are occupied.
Key Highlights
- Four‑unit building provides immediate rental income potential.
- Three out of four units are currently occupied.
- Two first‑floor apartments each feature 2 bedrooms and 1 bathroom.
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property in Saint Charles, investment opportunity.
Where is this quadplex located?
The property is located at 710 Chesaning St 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 building provides immediate rental income potential.; Three out of four units are currently occupied.; Two first‑floor apartments each feature **2 bedrooms and 1 bathroom**.
