Two-Story Duplex with Off-Street
New
For Sale
$425,000
8721 N 2nd St, Brighton, MI 48116
Two residences offer dedicated exterior access, with separate electric and gas utilities serving the unit layout.
Property Size2,041 SF
Lot Size0.27 Acres
Price / SF$208.23
Days on Market4
Property Features for 8721 N 2nd St
General Information
Standard status
Active
Size
2,041 SF
Lot size
0.27 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Real Broker, LLC
(586) 212-4866
Listed By:
Charles Younkin
Source:
Premiermichiganhomesearch
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 7:10PM
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 2,041 square feet and is arranged as two separate residences. Each unit has its own exterior entrance, while separate electric and gas utilities are supported by two furnaces and two hot water heaters.
The property is located at 8721 N 2nd St in Brighton, Michigan, on a 0.27-acre fenced lot. Parking improvements include an oversized parking pad positioned alongside the building and two additional driveways, creating multiple off-street parking areas for the property.
The property is located at 8721 N 2nd St in Brighton, Michigan, on a 0.27-acre fenced lot. Parking improvements include an oversized parking pad positioned alongside the building and two additional driveways, creating multiple off-street parking areas for the property.
Key Highlights
- Two‑story duplex with 2,041 square feet
- Two separate units, each with a dedicated 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
Property Profile
Current Use
Lease Details
2
Residential units
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 - Two residences offer dedicated exterior access, with separate electric and gas utilities serving the unit layout.
Where is this duplex located?
The property is located at 8721 N 2nd St 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 2,041 square feet; Two separate units, each with a dedicated outside entrance; Split electric and gas utilities
