Two-Unit Duplex with Fenced
For Sale
$425,000
8721 N 2nd Street, Brighton, MI 48116
Separate entrances and dedicated heating and hot water systems serve each unit.
Property Size2,041 SF
Lot Size0.27 Acres
Days on Market16
Property Features for 8721 N 2nd Street
General Information
Standard status
Active
Size
2,041 SF
Total Parking Spaces
5
Lot size
0.27 Acres
Property subtype
Residential Income
Zoning
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Building Size
2,041 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Real Broker, LLC
(586) 212-4866
Listed By:
Charles Younkin
(586) 212-4866
Source:
Homesforsaleinmich
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 11 at 2:09PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this two-story duplex contains two distinct residential units, each accessed through its own exterior entrance. Electric and gas service are divided between the units, with two furnaces and two hot water heaters providing separate mechanical systems.
The property occupies a 0.27-acre fenced lot at 8721 N 2nd Street in Brighton, Michigan. Parking is supported by an oversized pad positioned beside the building along with two additional driveways, providing substantial off-street capacity. The property is zoned Multi-Family.
The property occupies a 0.27-acre fenced lot at 8721 N 2nd Street in Brighton, Michigan. Parking is supported by an oversized pad positioned beside the building along with two additional driveways, providing substantial off-street capacity. The property is zoned Multi-Family.
Key Highlights
- Two‑story duplex with two separate residential units
- Each unit has its own outside entrance
- Split electric and gas utilities
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
$18,592
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
4.37%
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%
$371,840
$371.8K
Cap Rate 7%
$265,600
$265.6K
Cap Rate 9%
$206,578
$206.6K
Market Conditions
NOI Build-Up for 2,041 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
$28.2K $13.80/SF
− Vacancy
−$1.6K −$0.79/SF
EGI
$26.6K $13.01/SF
− OpEx
−$8.0K −$3.90/SF
NOI
$18.6K $9.11/SF
Area
Livingston County, MI
Vacancy
5.70%
Lease Rate
$13.80 /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%
$371,840
Cap Rate 7%
$265,600
Cap Rate 9%
$206,578
Alternative Uses
Best Use
Multifamily LT 5
$265.6K
$232.4K – $309.9K
NOI $18,592 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$244.2K
$213.7K – $284.9K
NOI $17,094 @ 7.0% cap · market cap 4.02%
Theoretical Best
Healthcare Medical
$325.1K
$284.5K – $379.3K
NOI $22,757 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 48116, MI
26,942
Population
12,230
Households
2.2
Avg Household Size
45
Median Age
51%
College-Educated
97%
High-School Grad
36.9 sq mi
ZIP Area
730
Density / Sq Mi
$109,606
Median Household Income
$59,173
Median Earnings
$1,229
Median Rent
$355,800
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 - Separate entrances and dedicated heating and hot water systems serve each unit.
Where is this duplex located?
The property is located at 8721 N 2nd Street Brighton, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑story duplex with two separate residential units; Each unit has its own outside entrance; Split electric and gas utilities
