110 S Auburn Street Pending Save Request In-Person Tour Request Virtual Tour
Auburn,MI 48642
Key Details
Property Type Commercial
Sub Type Apartments
Listing Status Pending
Purchase Type For Sale
Square Footage 1,326 sqft
Price per Sqft $169
MLS Listing ID 61050142935
Originating Board Saginaw Board of REALTORS®
Year Built 1947
Annual Tax Amount $4,000
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 153 x 297
Property Description
This property is not just a building but a turnkey solution for steady cash flow and low maintenance concerns, all set in a bustling downtown area. Bringing in $3,000 a month. Ideal for investors seeking a blend of steady income and growth potential or a business owner looking for a prime location with added rental income. Monthly Expenses:Taxes:Summer: $3,400Winter: $600Annual Taxes: $3,400 + $600 = $4,000Monthly Taxes: $4,000 / 12 ˜ $333.33Total Monthly Expenses:Taxes: $333.33Insurance: $129Lawn care: $40Gas: $170Water (quarterly divided by 3): $88Total Monthly Expenses: $760.33Net Operating Income (NOI):Monthly NOI:NOI = Total Monthly Rent Income - Total Monthly ExpensesNOI = $3,000 - $760.33 ˜ $2,239.67Annual NOI:Annual NOI = Monthly NOI * 12Annual NOI = $2,239.67 * 12 ˜ $26,876.04Return on Investment (ROI):ROI:ROI = (Annual NOI / Initial Investment) * 100ROI = ($26,876.04 / $260,000) * 100 ˜ 10.34%SummaryMonthly Net Operating Income (NOI): $2,239.67Annual Net Operating Income (NOI): $26,876.04Annual ROI: Approximately 10.34%This updated calculation incorporates the correct tax information and confirms the property's profitability with an annual return on investment of about 10.34%. **VIRTUAL TOUR* https://next-door-photos.vr-360-tour.com/e/PgYBj5uWZHE/e?accessibility=false&dimensions=false&hidelive=true&share_button=false&t_3d_model_dimensions=false
Location
State MI
County Bay
Area Auburn
Zoning Commercial
Interior
Hot Water Natural Gas
Heating Hot Water
Heat Source Natural Gas
Exterior
Pool No
Utilities Available Employee Lunch/Lounge,220V Available,Smoke Alarm
Waterfront no
Roof Type Metal
Road Frontage Paved
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Block/Concrete/Masonry,Brick Veneer (Brick Siding),Vinyl
Schools
School District Bay City
Others
Tax ID 15002340031000
Ownership Corporate/Relocation,Short Sale - No
Acceptable Financing Cash,Conventional,FHA,Other
Listing Terms Cash,Conventional,FHA,Other
Financing Cash,Conventional,FHA,Other
Special Listing Condition Full Service