Two-Unit Duplex with Private
For Sale
$159,000
Pending
801 Corunna Avenue, Owosso, MI 48867
MULTIFAMILY, Owosso, MI
Property Size1,536 SF
Lot Size0.20 Acres
Days on Market11
Property Features for 801 Corunna Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4
Appliances
Range/Oven, Refrigerator
Elementary school district
Owosso Public Schools
Middle school district
Owosso Public Schools
High school district
Owosso Public Schools
Subdivision
Owosso (78018)
Standard status
Pending
APN
050-710-001-008-00
Size
1,536 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3478
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Listing Agency:
Re/Max of Owosso
(989) 725-8119
Listed By:
Kim Omer · License #6501141258
(989) 723-7599
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 11:06PM
MLS# 50219461
Copyright © 2026 Greater Shiawassee Regional Board of Realtors. 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 one-story duplex contains 1,536 square feet arranged as two residential units. Each apartment offers 2 bedrooms, 1 full bathroom, a living room, an eat-in kitchen, and a laundry closet integrated into the kitchen area. Separate driveways provide off-street parking for both units.
Built in 1995, the property includes range/ovens, refrigerators, forced-air heating, central air, and public water service. The building occupies 0.2 acres at 801 Corunna Avenue in Owosso, Michigan, within Shiawassee County. Its two-unit configuration and similarly arranged apartments support both rental operation and owner-occupancy use.
Built in 1995, the property includes range/ovens, refrigerators, forced-air heating, central air, and public water service. The building occupies 0.2 acres at 801 Corunna Avenue in Owosso, Michigan, within Shiawassee County. Its two-unit configuration and similarly arranged apartments support both rental operation and owner-occupancy use.
Key Highlights
- 1,536 square feet configured as a two‑unit duplex
- Each apartment includes 2 bedrooms and 1 full bathroom
- Eat‑in kitchen with an in‑kitchen laundry closet in each unit
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
$12,621
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
7.94%
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%
$252,420
$252.4K
Cap Rate 7%
$180,300
$180.3K
Cap Rate 9%
$140,233
$140.2K
Market Conditions
NOI Build-Up for 1,536 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
$19.4K $12.60/SF
− Vacancy
−$1.3K −$0.86/SF
EGI
$18.0K $11.74/SF
− OpEx
−$5.4K −$3.52/SF
NOI
$12.6K $8.22/SF
Area
Shiawassee County, MI
Vacancy
6.84%
Lease Rate
$12.60 /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%
$252,420
Cap Rate 7%
$180,300
Cap Rate 9%
$140,233
Alternative Uses
Best Use
Multifamily LT 5
$180.3K
$157.8K – $210.4K
NOI $12,621 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$161.3K
$141.1K – $188.2K
NOI $11,289 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$292.8K
$256.2K – $341.7K
NOI $20,499 @ 7.0% cap · market cap 12.89%
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
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One-story duplex with matching layouts, in-unit laundry closets, and dedicated off-street parking for each residence.
Where is this duplex located?
The property is located at 801 Corunna Avenue Owosso, MI.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,536 square feet configured as a two‑unit duplex; Each apartment includes 2 bedrooms and 1 full bathroom; Eat‑in kitchen with an in‑kitchen laundry closet in each unit
