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    3419 W Michigan Avenue Kalamazoo, MI 49006

    View on Map
    For Sale
    $415,000

    MULTI_FAMILY - Kalamazoo, MI

    Lot size:
    0.43 Acres
    Added:
    Sep 6, 2025
    Days on Market:
    208
    Last Refresh:
    Apr 1 at 5:06 pm

    Property Features for 3419 W Michigan Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    11
    Rooms
    Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 6, Basement, Bathroom 5, Bedroom 9, Bedroom 10, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 11, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 8
    Parking
    10
    Basement
    Full
    Standard status
    Active
    APN
    06-19-447-001
    Lot size
    0.43 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    G19-4 SECTION 19 T2S R11W BEG IN THE S LI OF THE W 1/2 OF THE NE 1/4 OF THE SE 1/4 OF SECT 19, 82.5FT W OF THE SE COR THEREOF; TH N 89DEG 54MIN W 75.37FT ALG SD S LI; TH N 5DEG 04MIN W 225.07FT TO THE S LI OF WEST MICHIGAN AVENUE; TH N 68DEG 10MIN E 86.98FT ALG SD S LI; TH S 3DEG 15MIN E 257.2FT TO BEG. EXCLUDING BEG AT A PT ON THE S LI OF WEST MICHIGAN AVENUE, SD PT BEING 157.87FT W AND 225.07FT
    TaxAnnualAmount
    10111

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1927
    Number of units
    2
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Dustin J Phillips

    Listing agent Dustin J Phillips

    Listing office Michigan Top Producers 5250 Lovers Ln Ste 120, Kalamazoo, MI

    Listing date Sep 6, 2025

    MLS# 25045736

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Kalamazoo Multifamily Investment Opportunity

    This multifamily property, located in Kalamazoo, MI, presents an opportunity for investment-minded buyers. The property has a proven rental history and a prime location within walking distance of Western Michigan University. Previously operated as student housing for up to 11 tenants, the property is projecting $62,700-$79,200 annually at the new $415,000 price point. Certified with the City of Kalamazoo through October 2026, the property features two connected dwellings joined by a lockable enclosed corridor, allowing use as one large dwelling or two separate spaces. Together, the dwellings offer 11 bedrooms, 5 baths, updated flooring, modern kitchens with newer appliances and countertops, and in-unit laundry in each dwelling. The property sits on a 0.43-acre lot and includes 10 parking spots and full basements. This turnkey property offers excellent student housing potential in the WMU corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.631702
    Latitude
    42.278333

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    FAQs

    What type of property is this?
    Multifamily property - Certified rental property near Western Michigan University with strong cash flow.
    Where is this multifamily property located?
    The property is located at 3419 W Michigan Avenue Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Certified rental property with strong cash flow potential (11‑15% cap rate).; Prime location within walking distance of Western Michigan University (WMU).; Two connected dwellings offering 11 bedrooms and 5 bathrooms, can be used as one large unit or two separate units.
    (770) 882-6025
    We can help!
    Listing Contact
    Dustin J Phillips
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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