3-Unit Multifamily
For Sale
$199,900
827 S Farragut Street, Bay City, MI 48708
Three updated two-bedroom rentals share one parcel, with separate utilities and long-term tenants in place.
Property Size2,280 SF
Price / SF$87.68
Days on Market77
Property Features for 827 S Farragut Street
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-Family
Zoning
Multi-Family
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Amenities
6
Natural Gas
No
Yes
500
525
550
3
Public Sanitary
0.35
50 x 120
Basement,Crawl
Building Details
Year Built
1901
Listing Agency:
Berkshire Hathaway HomeServices, Bay City
(989) 613-7355
Listed By:
Jodi Schempp
Source:
Parkplacehomesonline
Added: Aug 16
Changed: Oct 29
Last Checked: Oct 29 at 2:47PM
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, Bay City
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Investment Insights
Based on property information with market context.
This city-certified rental property comprises three two-bedroom units on a single parcel at 827 and 829 S Farragut Street. The interiors and exteriors have been updated, and each unit has its own utilities. Long-term tenants currently occupy the units.
The property was built in 1901 and is zoned Multi-Family.
The property was built in 1901 and is zoned Multi-Family.
Key Highlights
- Three city‑certified rental units on one parcel
- All three units have two bedrooms and updated interiors and exteriors
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,527
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,540
$250.5K
Cap Rate 7%
$178,957
$179.0K
Cap Rate 9%
$139,189
$139.2K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$24.1K $10.56/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$22.8K $9.99/SF
− OpEx
−$10.2K −$4.50/SF
NOI
$12.5K $5.49/SF
Area
Bay County, MI
Vacancy
5.40%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,540
Cap Rate 7%
$178,957
Cap Rate 9%
$139,189
Alternative Uses
Best Use
Apartment 5plus
$179.0K
$156.6K – $208.8K
NOI $12,527 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$412.7K
$361.2K – $481.5K
NOI $28,892 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 48708, MI
25,860
Population
12,625
Households
2
Avg Household Size
41
Median Age
17%
College-Educated
89%
High-School Grad
29.1 sq mi
ZIP Area
889
Density / Sq Mi
$50,216
Median Household Income
$31,978
Median Earnings
$703
Median Rent
$98,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three updated two-bedroom rentals share one parcel, with separate utilities and long-term tenants in place.
Where is this multifamily property located?
The property is located at 827 S Farragut Street Bay City, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Three city‑certified rental units on one parcel; All three units have two bedrooms and updated interiors and exteriors; Separate utilities for each unit
