Duplex Rental
For Sale
$309,000
727 NW 6th Street NW, Grand Rapids, MI 49504
MULTI_FAMILY - Grand Rapids, MI
Property Size2,412 SF
Lot Size0.14 Acres
Price / SF$128.11
Days on Market26
Property Features for 727 NW 6th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
Parking
1
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Standard status
Active
APN
41-13-24-302-021
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 11 BLK 3 EX COM AT SW COR OF SD LOT TH E ALONG S LINE OF SD LOT 1.5 FT TH N TO A PT ON N LINE OF SD LOT WHICH IS 26 INCHES E FROM NW COR OF SD LOT TH W TO NW COR OF SD LOT TH S TO BEG * VANBUREN & TURNERS ADDITION
Tax Annual Amount
2270
Legal Description
LOT 11 BLK 3 EX COM AT SW COR OF SD LOT TH E ALONG S LINE OF SD LOT 1.5 FT TH N TO A PT ON N LINE OF SD LOT WHICH IS 26 INCHES E FROM NW COR OF SD LOT TH W TO NW COR OF SD LOT TH S TO BEG * VANBUREN & TURNERS ADDITION
Utilities
Heating system
Forced Air
Building Details
Year built
1918
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Coldwell Banker Woodland Schmidt · Coldwell Banker Real Estate
(616) 396-5221
Listed By:
JJ Lozano
(616) 422-3077
Added: Jul 29
Changed: Aug 17
Last Checked: Aug 23 at 4:06PM
MLS# 26042665
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.
Investment Insights
Based on property information with market context.
Built in 1918, this duplex contains approximately 2,412 square feet with four bedrooms, two bathrooms, and a basement. Vinyl siding and forced-air heating are among the noted building features. The property is currently operating as a rental and is offered in as-is condition, with rental history available upon request.
The property is located at 727 NW 6th Street NW in Grand Rapids, within the West Grand neighborhood. It is described as being minutes from downtown Grand Rapids and near Bridge Street shops and restaurants, Grand Rapids Community College, John Ball Zoo, and major highway corridors. The 0.14-acre lot and existing rental operation provide the basic physical and operational profile for review by prospective buyers.
The property is located at 727 NW 6th Street NW in Grand Rapids, within the West Grand neighborhood. It is described as being minutes from downtown Grand Rapids and near Bridge Street shops and restaurants, Grand Rapids Community College, John Ball Zoo, and major highway corridors. The 0.14-acre lot and existing rental operation provide the basic physical and operational profile for review by prospective buyers.
Key Highlights
- Approximately 2,412 square feet with four bedrooms and two bathrooms
- Duplex currently operating as a rental
- Built in 1918 on a 0.14‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,574
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$511,480
$511.5K
Cap Rate 7%
$365,343
$365.3K
Cap Rate 9%
$284,156
$284.2K
Market Conditions
NOI Build-Up for 2,412 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.1K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$36.5K $15.15/SF
− OpEx
−$11.0K −$4.54/SF
NOI
$25.6K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$511,480
Cap Rate 7%
$365,343
Cap Rate 9%
$284,156
Alternative Uses
Best Use
Multifamily LT 5
$365.3K
$319.7K – $426.2K
NOI $25,574 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$327.1K
$286.2K – $381.6K
NOI $22,895 @ 7.0% cap · market cap 7.41%
Theoretical Best
Specialty Retail
$559.8K
$489.8K – $653.1K
NOI $39,183 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bath duplex with four bedrooms, basement space, vinyl siding, and forced-air heating, offered in as-is condition.
Where is this duplex located?
The property is located at 727 NW 6th Street NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Approximately 2,412 square feet with four bedrooms and two bathrooms; Duplex currently operating as a rental; Built in 1918 on a 0.14‑acre lot
