Two-Unit Duplex with Separate
For Sale
$425,000
8721 N 2nd Street, Brighton, MI 48116
Multifamily, 2 Story, Brighton, MI
Property Size2,041 SF
Lot Size0.27 Acres
Price / SF$208.23
Days on Market50
Property Features for 8721 N 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Parking
5
Pets allowed
Yes
Interior features
Circuit Breakers, Laundry Facility
Exterior features
Fenced
Fencing
Fenced
Elementary school district
Brighton
Middle school district
Brighton
High school district
Brighton
Directions
S/B Cross to E/B 2nd Street. Residence is on the left.
Subdivision
Brighton
Standard status
Active
APN
1830100030
Size
2,041 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
SEC 30 T2N R6E PART OF THE SW 1/4 OF NW FRAC 1/4 OF SEC, BEG 24 RODS & 15 LINKS W OF THE W LINE OF GRAND RIVER AVE, TH W 9 RODS & 5 LINKS TO THE E LINE OF SECOND ST, TH N4 RODS, TH E 9 RODS & 5 LINKS, TH S 4 RODS TO POB. ALSO BEG AT A PT 4 RODS N OF A PT WHERE THE E & W 1/4 LINE OF SEC 30 JOIN THE E LINE OF SECOND ST, TH E 168 FT, TH N 10 FT, TH W 168 FT, TH S 10 FT TO POB. LOCATION: 8721 N. SECOND DDA 3
Tax Annual Amount
8134
Legal Description
SEC 30 T2N R6E PART OF THE SW 1/4 OF NW FRAC 1/4 OF SEC, BEG 24 RODS & 15 LINKS W OF THE W LINE OF GRAND RIVER AVE, TH W 9 RODS & 5 LINKS TO THE E LINE OF SECOND ST, TH N4 RODS, TH E 9 RODS & 5 LINKS, TH S 4 RODS TO POB. ALSO BEG AT A PT 4 RODS N OF A PT WHERE THE E & W 1/4 LINE OF SEC 30 JOIN THE E LINE OF SECOND ST, TH E 168 FT, TH N 10 FT, TH W 168 FT, TH S 10 FT TO POB. LOCATION: 8721 N. SECOND DDA 3
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Charles Younkin
(586) 212-4866
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 15 at 10:06PM
MLS# 20261058496
Copyright © 2026 Realcomp Limited II. 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 two-story duplex contains two distinct residential units, each accessed through its own exterior entrance. The property provides 2,041 square feet of building area, with bedrooms, bathrooms, basement space, laundry facilities, circuit breakers, forced-air heating, and window-unit cooling. Each unit has its own furnace and hot water heater, while electric and gas service are separately metered.
The improvements sit on a 0.27-acre fenced lot at 8721 N 2nd Street in Brighton, Michigan. Exterior features include aluminum construction, an asphalt roof, a well water source, an oversized parking pad, and two additional driveways. The property was built in 1900 and carries Multi-Family zoning.
The improvements sit on a 0.27-acre fenced lot at 8721 N 2nd Street in Brighton, Michigan. Exterior features include aluminum construction, an asphalt roof, a well water source, an oversized parking pad, and two additional driveways. The property was built in 1900 and carries Multi-Family zoning.
Key Highlights
- Two‑story duplex with 2 separate units and dedicated exterior entrances
- 2,041 square feet of building area on a 0.27‑acre fenced lot
- Separate electric and gas metering for 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
$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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Duplex with individually metered electric and gas service, plus separate heating and hot water systems for 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 2 separate units and dedicated exterior entrances; 2,041 square feet of building area on a 0.27‑acre fenced lot; Separate electric and gas metering for each unit
