Updated Two-Unit
For Sale
$159,900
7562 Miller Rd, Swartz Creek, MI 48473
Live in one unit and rent the other in an updated, ready-to-go two-unit duplex in Swartz Creek.
Property Size1,000 SF
Days on Market51
Property Features for 7562 Miller Rd
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,607
Building Details
Building Size
1,000 SF
Year Built
1930
Units
2
Listing Agency:
American Associates Inc
(810) 733-3333
Listed By:
Zachary Caldwell · License #6501230158
(810) 733-3333
Source:
Elliman
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 9 at 6:39AM
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 American Associates Inc
Investment Insights
Based on property information with market context.
This two-unit duplex offers a straightforward owner-occupant setup: you can live in one unit while renting the other. The property is described as updated and ready to go, making it well-suited for buyers looking for a working income-residential configuration without extensive immediate work.
Located in downtown Swartz Creek, the duplex benefits from a moderately walkable and somewhat bikeable area, based on the provided Walk Score of 51 and Bike Score of 41. The listing information does not specify additional building details such as layout specifics, improvements beyond “updated,” or unit features, so prospective buyers should confirm all property and condition details during due diligence.
For investors and owner-occupants, the practical appeal here is the ability to offset housing costs through a second rental unit while keeping ownership simple within a single asset. If you’re shopping for a residential income property with a built-in live-and-lease arrangement, this duplex is presented as updated and available for purchase.
Located in downtown Swartz Creek, the duplex benefits from a moderately walkable and somewhat bikeable area, based on the provided Walk Score of 51 and Bike Score of 41. The listing information does not specify additional building details such as layout specifics, improvements beyond “updated,” or unit features, so prospective buyers should confirm all property and condition details during due diligence.
For investors and owner-occupants, the practical appeal here is the ability to offset housing costs through a second rental unit while keeping ownership simple within a single asset. If you’re shopping for a residential income property with a built-in live-and-lease arrangement, this duplex is presented as updated and available for purchase.
Key Highlights
- Two‑unit duplex in downtown Swartz Creek
- Built in 1930
- Live in one unit and rent the other
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
$8,589
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
5.37%
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%
$171,780
$171.8K
Cap Rate 7%
$122,700
$122.7K
Cap Rate 9%
$95,433
$95.4K
Market Conditions
NOI Build-Up for 1,000 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
$13.0K $12.96/SF
− Vacancy
−$689 −$0.69/SF
EGI
$12.3K $12.27/SF
− OpEx
−$3.7K −$3.68/SF
NOI
$8.6K $8.59/SF
Area
Genesee County, MI
Vacancy
5.32%
Lease Rate
$12.96 /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%
$171,780
Cap Rate 7%
$122,700
Cap Rate 9%
$95,433
Alternative Uses
Best Use
Multifamily LT 5
$122.7K
$107.4K – $143.2K
NOI $8,589 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$109.5K
$95.8K – $127.7K
NOI $7,663 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$210.4K
$184.1K – $245.5K
NOI $14,730 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
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?
Duplex - Live in one unit and rent the other in an updated, ready-to-go two-unit duplex in Swartz Creek.
Where is this duplex located?
The property is located at 7562 Miller Rd Swartz Creek, MI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two‑unit duplex in downtown Swartz Creek; Built in 1930; Live in one unit and rent the other
