Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    468 Colfax Ave Benton Harbor, MI 49022

    Sponsored
    For Sale
    $188,800

    MULTI_FAMILY - Benton Harbor, MI

    Lot size:
    0.20 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 30 at 6:06 pm

    Property Features for 468 Colfax Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Bathroom 1, Basement, Bedroom 4, Bathroom 3, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 3
    Bedrooms
    4
    APN
    11-51-0801-0153-00-9
    Parking
    4
    Parking features
    Driveway
    Basement
    Full
    Lot size
    0.20 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1930
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Dawn Munoz Lamas

    Siriano Realty (269) 325-0039

    Listing agent Dawn Munoz Lamas (269) 588-2287

    Listing date Jan 30, 2026

    MLS# 25061491 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.

    Learn more

    Property Insight Report

    Overview

    Historic Home Overlooking St. Joe River

    This historic home in Benton Harbor offers views overlooking the area that extends to the St. Joe River. The property features original woodwork, high ceilings, flooring, and updated kitchens. A new roof, new siding, updated windows, and a new furnace have been installed. The property is situated above an area that is developing into a commercial corridor. The two tenants are long-term and on month-to-month leases, and they are responsible for all utilities. Mechanical and electrical systems have been updated. The property could be converted back to a single-family home. It is located approximately 5 minutes from Lake Michigan, downtown St. Joe, and Harbor Shores Resort. The lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nate Dogg Productions Graphic Designer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Benton Harbor
    County
    Berrien
    State
    Michigan
    Longitude
    -86.456516
    Latitude
    42.109436

    Nearby Similar for Sale

    • $680,000
      45,750 SF

      Historic House of David Hotel

      Heavily built concrete structure with restoration potential in Benton Harbor.
      93 W Wall St, Benton Harbor, MI 49022
      View Details
    • $397,500
      7,448 SF

      Versatile Commercial Building in Benton Harbor

      Well-maintained 7,448 SF commercial building ideal for various business operations.
      790 Nickerson Ave, Benton Harbor, MI 49022
      View Details
    • $920,000
      17,834 SF

      Versatile Commercial Property on M-139

      High-visibility commercial property with showroom, warehouse, and office spaces.
      2188 M-139, Benton Harbor, MI 49022
      View Details
    • $1,550,000
      20,380 SF

      Mixed-Use Building in Downtown Benton

      Massive mixed-use building with commercial spaces and apartment units.
      209-219 E Main St, Benton Harbor, MI 49022
      View Details
    • $849,900
      6,396 SF

      Benton Harbor Commercial Opportunity

      Turnkey winery and distillery with tasting room lease takeover.
      641 S Crystal Ave, Benton Harbor, MI 49022
      View Details
    • $99,999
      0.21 Acres

      Triplex Investment Opportunity

      Three income-producing units with new roof.
      561 Heck Ct, Benton Harbor, MI 49022
      View Details
    • $475,000
      11,613 SF

      Benton Harbor Commercial Condo

      Commercial/retail condo with many potential uses in growing area.
      2467 M-139, Benton Harbor, MI 49022
      View Details
    • $39,900
      0.06 Acres

      Benton Harbor Multifamily Opportunity

      Multifamily property near parks and entertainment in Benton Harbor.
      410 Division St, Benton Harbor, MI 49022
      View Details
    • $225,000
      0.79 Acres

      Benton Harbor Multifamily Investment Opportunity

      Four-unit building with potential for additional income.
      180 Emery Ave, Benton Harbor, MI 49022
      View Details
    • $120,000
      0.14 Acres

      Turnkey Duplex in Benton Harbor

      Updated duplex with strong rental potential in Benton Harbor, MI.
      1188 Union Ave, Benton Harbor, MI 49022
      View Details
    • $425,000
      10,390 SF

      Napier Avenue Showroom and Storage

      10,390 SF showroom, office, and storage on 1.6 acres.
      1126 E Napier Ave, Benton Harbor, MI 49022
      View Details
    • $1,500,000
      27,289 SF

      Benton Harbor Commercial Building

      27,289 SF commercial building in Benton Harbor, Michigan for sale.
      1134 S Crystal Ave, Benton Harbor, MI 49022
      View Details

    FAQs

    What type of property is this?
    Duplex - Stunning historic home with updated features and tenant income.
    Where is this duplex located?
    The property is located at 468 Colfax Ave Benton Harbor, MI.
    What is the asking price?
    The asking price for this property is $188,800.
    What are key features of this property?
    This property features: - Updated mechanicals, electric, roof, siding, windows, and furnace.; - Potential for conversion back to a single-family home.; - Prime location: **5 minutes from Lake Michigan, downtown St. Joe, and Harbor Shores Resort.**
    (269) 588-2287
    Request Owner's contact information
    468 Colfax Ave Benton Harbor, MI 49022
    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.
    468 Colfax Ave
    Benton Harbor, MI 49022
    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
    468 Colfax Ave Benton Harbor, MI 49022
    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

    We can help!
    Listing Contact
    Dawn Munoz Lamas
    (269) 588-2287
    Learn more
    Google sign-in failed. Please try again or use another login method.