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$250,000

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2 Baths

1,620 SqFt

Active

398 N Saginaw ST Pontiac, MI 48342

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Mark Schmansky

[email protected] +1(248) 701-0207

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Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Rent

Square Footage 1,620 sqft

Subdivision Pound Add

MLS Listing ID 20261009177

Style Colonial,EarlyAmerican

Full Baths 2

Year Built 1910

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type MultiFamily

Property Description

Turnkey 2-unit income property capable of producing a 10% + cap rate in the heart of Pontiac! The return on investment (ROI) makes this building profitable. This well-laid-out up and down flat features two separate units furnished, each offering 2 bedrooms and 1 full bath, providing excellent rental potential and strong cash-flow opportunity. Ideal for buy-and-hold investors or owner-occupy whole property or house hack by living in one unit and leasing out the other to offset their mortgage. Possible Airbnb and or VRBO venture for income versatility. Each unit includes its own kitchen and living space, creating functional, desirable layouts for tenants. A full basement adds additional storage potential, and the 2.5-car detached garage provides valuable parking and utility a major tenant bonus. This property presents an attractive entry point pricing for investors looking to expand their portfolio in a high-demand rental area. Conveniently located near Downtown Pontiac, I-75, M-59, Great Lakes Mall, local amenities and restaurants. Secure a multi-unit property with built-in income potential. Creative financing. Land contract terms are available with $75,000 down payment at 7% interest with a monthly payment of $1904.72 over the course of 11 years with no pre-payment penalty. One year home warranty included for maintenance free living. This property qualifies for all of these incentives 0–3% Down Payment – Making homeownership more accessible. No PMI (Private Mortgage Insurance) = Lower monthly payments. $3,500–$10,500 in Down Payment Grants that are fully forgiven after 5 total but 20%
after each year. NOTE: PLEASE SEE CAP CALCULATOR IN THE LAST 4 PHOTOS THAT SHOWS THE POTENTIAL

Location

State MI

County Oakland

Area Area02142Pontiac

Rooms

Basement Full, Unfinished

Interior

Interior Features EntranceFoyer

Heating Forced Air, Natural Gas, Separate Meters

Cooling Ceiling Fans

Fireplace No

Exterior

Exterior Feature Lighting, PrivateEntrance

Parking Features Garage, Lighted, OnStreet, Oversized, Paved

Fence Back Yard, Fenced, Fencing Allowed

Pool None

Community Features Sidewalks

Utilities Available AboveGroundUtilities, CableAvailable, UndergroundUtilities

View Y/N No

Roof Type Asphalt

Garage true

Building

Foundation Basement, Poured, Stone

Sewer Public Sewer

Water Other

New Construction No

Schools

High Schools Pontiac

School District Pontiac

Others

Senior Community false

Acceptable Financing Cash, Contract, Conventional, FHA, Trade1031Exchange, VaLoan

Listing Terms Cash, Contract, Conventional, FHA, Trade1031Exchange, VaLoan

Special Listing Condition AgentOwned, ShortSaleNo

Pets Allowed Yes

Listed by James J Toma of Brookstone, Realtors LLC

NEARBY SCHOOL & BUSINESS

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Mark Schmansky

Founder/Associate Broker | License ID: 6501380043

+1(248) 701-0207

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398 N Saginaw ST Pontiac, MI 48342

Mark Schmansky

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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398 N Saginaw ST