Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Well-Maintained Multifamily Property Near Downtown Title is generated by Realmo AI

    448 Houston Avenue, Muskegon, MI 49441

    View on Map
    Claim this Listing
    New
    Pending
    $159,900

    MULTI_FAMILY - Muskegon, MI

    Lot size:
    0.10 Acres
    Added:
    May 27, 2026
    Days on Market:
    5
    Last Refresh:
    May 31 at 8:06 am

    Property Features for 448 Houston Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Rooms
    Bedroom 3, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
    Parking
    4
    Basement
    Partial
    Standard status
    Pending
    APN
    24-205-347-0010-00
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CITY OF MUSKEGON REVISED PLAT OF 1903 W 1/2 LOT 10 BLK 347
    Tax Annual Amount
    1572

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air

    Building Details

    Year built
    1800
    Number of units
    2
    Building materials
    Aluminum Siding, Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Thomas A Serio
    Thomas A Serio

    Listing agent Thomas A Serio License #6502431119

    Listing office Real Estate West 875 Oak Ridge Road, Muskegon, MI

    Listing date May 27, 2026

    MLS# 26025072 Listing URL

    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.

    HighLights

    • Nicely renovated 2 bedroom 1 bath unit (renovated in 2025) with $1175 rent.
    • Well‑maintained 2‑unit property with positive cash flow.
    • Walking distance to downtown.
    • Separate gas and electric for each unit.
    • Ample parking: 1 car in front and 3 in the rear.
    • Tenants have separate basement access.

    Overview

    This well-maintained two-unit property is located within walking distance of downtown. The upper unit, featuring one bedroom and one bathroom, is currently rented for $775 to a long-term tenant. The second unit, which includes two bedrooms and one bathroom, was renovated in 2025 and is rented for $1175. The common entry area was refreshed in 2024. The property has separate gas and electric meters for each unit. Both tenants have separate access to the basement. Parking is available in the front for one car and in the rear for three additional cars. The lot size is 0.1 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.254681
    Latitude
    43.229643

    Nearby Similar for Sale

    • $599,900
      5,280 SF

      Move-in Ready Commercial Building

      High-visibility commercial building suitable for medical, retail, or office use.
      3044 Glade Street, Muskegon, MI 49444
      View Details
    • $1,200,000
      6,522 SF

      Muskegon Downtown Investment Opportunity

      Prime location near Muskegon Lake, suitable for restaurant/bar.
      1208 8th Street, Muskegon, MI 49440
      View Details
    • $334,900
      4,800 SF

      Craftsman Office Building Near Downtown

      Charming office building with original architectural details and flexible layout.
      1181 Ransom Street, Muskegon, MI 49442
      View Details
    • $549,900
      5,800 SF

      COMMERCIAL - Muskegon, MI

      3015 S Brooks Road, Muskegon, MI 49444
      View Details
    • $199,900
      2,800 SF

      Muskegon Commercial Property on 1.14 Acres

      1.14 acres in Fruitport Township, ready for your business.
      2115 E Sternberg Road, Muskegon, MI 49444
      View Details
    • $1,299,000
      14,985 SF

      Historic Landmark Building in Downtown Muskegon

      Restored Victorian building ideal for investment or owner-user opportunity.
      356 W Western Avenue, Muskegon, MI 49440
      View Details
    • $249,900
      2,512 SF

      Renovated Office Building in Muskegon

      Historic office building with modern updates and flexible floor plan.
      1715 Peck Street, Muskegon, MI 49441
      View Details
    • $399,000
      10,980 SF

      Pre-Engineered Steel Building Awaiting Completion

      10,980 SF building on 1.43 acres ready for customization.
      3009 E Laketon Avenue, Muskegon, MI 49442
      View Details
    • $319,900
      6,300 SF

      Versatile Commercial Space on M-46

      6,300 sq ft commercial space with development potential.
      3711 E Apple Avenue, Muskegon, MI 49442
      View Details
    • $174,900
      1,223 SF

      Single-Tenant Office Investment Opportunity

      Well-maintained office property with stable tenant in prime location.
      992 Witham Road, Muskegon, MI 49445
      View Details
    • $165,000
      5,120 SF

      Versatile Commercial Building on Apple Avenue

      Adaptable commercial building suitable for various business uses.
      3639 E Apple Avenue, Muskegon, MI 49442
      View Details
    • $199,900
      1,500 SF

      Versatile Commercial Unit Near Highway 31

      Immaculate 1500 SF commercial unit perfect for business or personal use.
      2695 Hein Road, Muskegon, MI 49445
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with updated units and long-term tenants.
    Where is this duplex located?
    The property is located at 448 Houston Avenue Muskegon, MI.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: Nicely renovated 2 bedroom 1 bath unit (renovated in 2025) with $1175 rent.; Well‑maintained 2‑unit property with positive cash flow.; Walking distance to downtown.
    (231) 286-0102
    We can help!
    Listing Contact
    Thomas A Serio
    Thomas A Serio
    Real Estate License ID: 6502431119
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    448 Houston Avenue, Muskegon, MI 49441
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!