Turnkey Duplex with Two
For Sale
$239,888
1021 Avondale Cir, Kalamazoo, MI 49048
Two separate 2-bedroom units with full basements, central air, and utilities paid by tenants.
Property Size1,400 SF
Price / SF$171.35
Days on Market107
Property Features for 1021 Avondale Cir
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,945
Building Details
Year Built
1956
Units
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Will Howson · License #6501387256
(269) 615-5660
Source:
Elliman
Added: Jun 22
Changed: Sep 20
Last Checked: Oct 5 at 7:37PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This turnkey duplex offers two spacious 2-bedroom, 1-bath units, each with its own full basement, separate heat system, and central air. The units are fully separated, with tenants paying all utilities (gas, electric, and water), supporting a true low-overhead ownership setup. Appliances are included, and interior finishes feature wood flooring and fresh paint. The property also includes a newer roof and newer mechanicals, along with a large back yard with two sheds.
Set in a quiet, established neighborhood within Kalamazoo Township, the home is described as minutes from everything, with residents relying primarily on cars based on the provided walk and bike scores.
For buyers seeking a house-hack opportunity, the separate systems and utilities create flexibility to live in one side while the other generates income. Alternatively, both units can be operated as rental properties, with current gross rents totaling $2,079 per month per the provided information. Appliances included and the unit separation details help reduce day-to-day friction for an owner-operator looking for straightforward management.
Set in a quiet, established neighborhood within Kalamazoo Township, the home is described as minutes from everything, with residents relying primarily on cars based on the provided walk and bike scores.
For buyers seeking a house-hack opportunity, the separate systems and utilities create flexibility to live in one side while the other generates income. Alternatively, both units can be operated as rental properties, with current gross rents totaling $2,079 per month per the provided information. Appliances included and the unit separation details help reduce day-to-day friction for an owner-operator looking for straightforward management.
Key Highlights
- 1956‑built duplex with two spacious 2‑bedroom, 1‑bath units (~700 SF each)
- Each unit has its own full basement plus a separate heat system and central air
- Fully separated utilities (gas, electric, water) with tenants paying ALL utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,233
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,660
$164.7K
Cap Rate 7%
$117,614
$117.6K
Cap Rate 9%
$91,478
$91.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$12.6K $9.00/SF
− Vacancy
−$838 −$0.60/SF
EGI
$11.8K $8.40/SF
− OpEx
−$3.5K −$2.52/SF
NOI
$8.2K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,660
Cap Rate 7%
$117,614
Cap Rate 9%
$91,478
Alternative Uses
Best Use
Multifamily LT 5
$117.6K
$102.9K – $137.2K
NOI $8,233 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$108.0K
$94.5K – $126.0K
NOI $7,562 @ 7.0% cap · market cap 3.15%
Theoretical Best
Warehouse
$366.4K
$320.6K – $427.4K
NOI $25,645 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
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 separate 2-bedroom units with full basements, central air, and utilities paid by tenants.
Where is this duplex located?
The property is located at 1021 Avondale Cir Kalamazoo, MI.
What is the asking price?
The asking price for this property is $239,888.
What are key features of this property?
This property features: 1956‑built duplex with two spacious 2‑bedroom, 1‑bath units (~700 SF each); Each unit has its own full basement plus a separate heat system and central air; Fully separated utilities (gas, electric, water) with tenants paying ALL utilities
