Updated Duplex with Two
For Sale
$394,000
7228 S M 88 Hwy, Bellaire, MI 49615
Two-level property includes remodeled kitchens, bathrooms, windows, plumbing, electrical systems, and laundry accommodations.
Property Size1,784 SF
Price / SF$220.85
Days on Market58
Property Features for 7228 S M 88 Hwy
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Residential
Property Condition
Severity
Repairs Needed
Evidence
One lower-level bedroom is currently non-conforming
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,737
Amenities
laundry accommodations
Building Details
Buildings
1
Listing Agency:
Keller Williams Northern Michigan
Listed By:
Julia Pietrowicz · License #6502372398
(231) 360-0739
Source:
Exprealty
Added: Aug 20
Changed: Oct 15
Last Checked: Oct 14 at 11:48PM
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 Keller Williams Northern Michigan
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Investment Insights
Based on property information with market context.
This 1,784-square-foot duplex contains two units with updated interiors and separate laundry arrangements. Improvements include wood, tile, and LVP flooring, replacement windows, upgraded plumbing and electrical systems, modernized kitchens with newer appliances, and remodeled bathrooms. Laundry is located in the upstairs bathroom, while the lower unit has a separate laundry room. One lower-level bedroom is currently non-conforming; an egress window could be added to improve its functionality.
The property is located at 7228 S M 88 Hwy in Bellaire, across from a campground. The residence currently shares a parcel with a retail building and pole building, and the seller will split the property before closing.
The property is located at 7228 S M 88 Hwy in Bellaire, across from a campground. The residence currently shares a parcel with a retail building and pole building, and the seller will split the property before closing.
Key Highlights
- 1,784 SF duplex configured with two residential units
- Recent updates include windows, plumbing, electrical, flooring, kitchens, appliances, and bathrooms
- Laundry accommodations serve both levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,064
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,280
$281.3K
Cap Rate 7%
$200,914
$200.9K
Cap Rate 9%
$156,267
$156.3K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$23.3K $13.08/SF
− Vacancy
−$3.2K −$1.82/SF
EGI
$20.1K $11.26/SF
− OpEx
−$6.0K −$3.38/SF
NOI
$14.1K $7.88/SF
Area
Antrim County, MI
Vacancy
13.90%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,280
Cap Rate 7%
$200,914
Cap Rate 9%
$156,267
Alternative Uses
Best Use
Multifamily LT 5
$200.9K
$175.8K – $234.4K
NOI $14,064 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$192.1K
$168.1K – $224.2K
NOI $13,449 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$317.5K
$277.8K – $370.4K
NOI $22,224 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 49615, MI
4,161
Population
3,575
Households
1.2
Avg Household Size
57
Median Age
44%
College-Educated
97%
High-School Grad
68.4 sq mi
ZIP Area
61
Density / Sq Mi
$78,750
Median Household Income
$38,635
Median Earnings
$775
Median Rent
$257,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-level property includes remodeled kitchens, bathrooms, windows, plumbing, electrical systems, and laundry accommodations.
Where is this duplex located?
The property is located at 7228 S M 88 Hwy Bellaire, MI.
What is the asking price?
The asking price for this property is $394,000.
What are key features of this property?
This property features: 1,784 SF duplex configured with two residential units; Recent updates include windows, plumbing, electrical, flooring, kitchens, appliances, and bathrooms; Laundry accommodations serve both levels
