Duplex with Large
New
For Sale
$399,900
11701 Schuilling Dr, Sparta, MI 49345
Two-unit residence with a substantial outbuilding near Camp Lake recreational amenities.
Property Size1,524 SF
Price / SF$262.40
Days on Market2
Property Features for 11701 Schuilling Dr
General Information
Standard status
Active
Size
1,524 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 4BR
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
RE/MAX Of Grand Rapids (Stndl)
(616) 791-0110
Listed By:
Beyond MI Realty
(989) 214-2240
Source:
Beyondmirealty
Added: Sep 18
Last Checked: Sep 19 at 8:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Of Grand Rapids (Stndl)
Investment Insights
Based on property information with market context.
This 1940-built duplex includes two separate residential units on close to an acre, along with a large outbuilding. The lower unit contains 1,524 square feet, three bedrooms, and 1 1/2 baths. The upper unit offers 1,616 square feet and four bedrooms.
The property is within the Camp Lake Resort community, with a golf course, community park, and public boat launch for Camp Lake located in close proximity. The address is 11701 Schuilling Dr NE, Algoma Township, Kent County, Michigan.
The property is within the Camp Lake Resort community, with a golf course, community park, and public boat launch for Camp Lake located in close proximity. The address is 11701 Schuilling Dr NE, Algoma Township, Kent County, Michigan.
Key Highlights
- Two‑unit home on close to an acre
- Lower unit: 1,524 square feet, 3 bedrooms, and 1 1/2 baths
- Upper unit: 1,616 square feet and 4 bedrooms
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
$16,605
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
4.15%
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%
$332,100
$332.1K
Cap Rate 7%
$237,214
$237.2K
Cap Rate 9%
$184,500
$184.5K
Market Conditions
NOI Build-Up for 1,524 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
$25.1K $16.44/SF
− Vacancy
−$1.3K −$0.87/SF
EGI
$23.7K $15.57/SF
− OpEx
−$7.1K −$4.67/SF
NOI
$16.6K $10.90/SF
Area
Kent County, MI
Vacancy
5.32%
Lease Rate
$16.44 /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%
$332,100
Cap Rate 7%
$237,214
Cap Rate 9%
$184,500
Alternative Uses
Best Use
Multifamily LT 5
$237.2K
$207.6K – $276.8K
NOI $16,605 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$206.2K
$180.4K – $240.6K
NOI $14,433 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$272.6K
$238.5K – $318.0K
NOI $19,080 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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Business Placement
Demographics for 49345, MI
13,734
Population
5,074
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
263
Density / Sq Mi
$84,918
Median Household Income
$44,051
Median Earnings
$968
Median Rent
$261,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residence with a substantial outbuilding near Camp Lake recreational amenities.
Where is this duplex located?
The property is located at 11701 Schuilling Dr Sparta, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit home on close to an acre; Lower unit: 1,524 square feet, 3 bedrooms, and 1 1/2 baths; Upper unit: 1,616 square feet and 4 bedrooms
