Two-Unit Duplex with
For Sale
$149,900
Pending
811 N Fayette St, Saginaw, MI 48602
Well-maintained two-unit duplex with private washer-dryer hookups, full basements, patios, and rear parking for convenient daily living.
Property Size1,822 SF
Days on Market78
Property Features for 811 N Fayette St
General Information
Standard status
Pending
Size
1,822 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,583
Building Details
Building Size
1,822 SF
Year Built
1976
Units
2
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(989) 753-4929
Listed By:
Bob Scharich · License #SBR-6502413068
(989) 753-4929
Source:
Elliman
Added: Jun 14
Changed: Aug 27
Last Checked: Aug 29 at 1:05PM
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 Berkshire Hathaway HomeServices Michigan Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex offers separate living spaces with private washer and dryer hookups in each unit, along with full basements that provide additional storage. The property is described as well maintained, and the currently vacant unit has been refreshed with new flooring and fresh paint for move-in readiness. Outdoor space includes patios for both units, with a fenced backyard on one side. An alley provides additional access, and there is ample rear parking for residents and guests.
Located near local hospitals in Saginaw, Michigan, the property benefits from everyday convenience for tenants who need reliable access to nearby services. Tenants are responsible for snow removal and lawn care, while the owner pays water, which helps define day-to-day operating responsibilities.
The layout is well suited for investors or owner-occupants looking for a two-unit configuration with individual laundry connections, basement storage, and outdoor space. With one unit refreshed and ready, the property supports straightforward occupancy planning, while the rear parking and alley access add practical convenience for residents and visitors.
Located near local hospitals in Saginaw, Michigan, the property benefits from everyday convenience for tenants who need reliable access to nearby services. Tenants are responsible for snow removal and lawn care, while the owner pays water, which helps define day-to-day operating responsibilities.
The layout is well suited for investors or owner-occupants looking for a two-unit configuration with individual laundry connections, basement storage, and outdoor space. With one unit refreshed and ready, the property supports straightforward occupancy planning, while the rear parking and alley access add practical convenience for residents and visitors.
Key Highlights
- Well‑maintained two‑unit duplex built in 1976
- Each unit has private washer/dryer hookups plus a full basement for additional storage
- Vacant unit has new flooring and fresh paint for immediate move‑in readiness
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
$10,794
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
7.20%
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%
$215,880
$215.9K
Cap Rate 7%
$154,200
$154.2K
Cap Rate 9%
$119,933
$119.9K
Market Conditions
NOI Build-Up for 1,822 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
$16.6K $9.12/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$15.4K $8.46/SF
− OpEx
−$4.6K −$2.54/SF
NOI
$10.8K $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%
$215,880
Cap Rate 7%
$154,200
Cap Rate 9%
$119,933
Alternative Uses
Best Use
Multifamily LT 5
$154.2K
$134.9K – $179.9K
NOI $10,794 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$146.5K
$128.2K – $170.9K
NOI $10,253 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$336.6K
$294.6K – $392.7K
NOI $23,564 @ 7.0% cap · market cap 15.72%
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
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 48602, MI
27,613
Population
12,286
Households
2.2
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
7.8 sq mi
ZIP Area
3,540
Density / Sq Mi
$46,068
Median Household Income
$29,611
Median Earnings
$902
Median Rent
$70,200
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 - Well-maintained two-unit duplex with private washer-dryer hookups, full basements, patios, and rear parking for convenient daily living.
Where is this duplex located?
The property is located at 811 N Fayette St Saginaw, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Well‑maintained two‑unit duplex built in 1976; Each unit has private washer/dryer hookups plus a full basement for additional storage; Vacant unit has new flooring and fresh paint for immediate move‑in readiness
