Duplex with Garage
For Sale
$625,000
1327 Fraternity Village Dr, Kalamazoo, MI 49006
Two leased residences include in-unit laundry, appliances and additional off-street parking near Western Michigan University.
Property Size4,048 SF
Price / SF$154.40
Days on Market44
Property Features for 1327 Fraternity Village Dr
General Information
Standard status
Active
Size
4,048 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 5BR/3BA, 1 x 6BR/3BA
Multifamily Units
2
Amenities
laundry room
washer and dryer
garage parking
off-street parking
stove
refrigerators
dishwasher
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
i-VEST Real Estate Group
Listed By:
Bonnie k Granado · License #6502348468
(269) 323-7771
Source:
Vmrealestatemichigan
Added: Aug 24
Changed: Oct 6
Last Checked: Oct 5 at 7:29PM
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 i-VEST Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2008, this 4,048-square-foot duplex has two residences totaling 11 bedrooms and six full bathrooms. One unit offers five bedrooms and three bathrooms; the other has six bedrooms and three bathrooms. Each residence includes a laundry room with a washer and dryer, one stove, two refrigerators and one dishwasher. Garage parking and additional off-street parking are provided. The property is certified with the City of Kalamazoo.
Both residences have leases in place. The home at 1327 Fraternity Village Dr has a one-year lease, and 1329 Fraternity Village Dr has a two-year lease. Western Michigan University is within walking distance.
Both residences have leases in place. The home at 1327 Fraternity Village Dr has a one-year lease, and 1329 Fraternity Village Dr has a two-year lease. Western Michigan University is within walking distance.
Key Highlights
- Two‑unit duplex totaling 11 bedrooms and 6 full bathrooms
- Unit 1 has 5 bedrooms and 3 full bathrooms; Unit 2 has 6 bedrooms and 3 full bathrooms
- 4,048 square feet; built in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,806
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,120
$476.1K
Cap Rate 7%
$340,086
$340.1K
Cap Rate 9%
$264,511
$264.5K
Market Conditions
NOI Build-Up for 4,048 SF
Gross rent
$36.4K $9.00/SF
− Vacancy
−$2.4K −$0.60/SF
EGI
$34.0K $8.40/SF
− OpEx
−$10.2K −$2.52/SF
NOI
$23.8K $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%
$476,120
Cap Rate 7%
$340,086
Cap Rate 9%
$264,511
Alternative Uses
Best Use
Multifamily LT 5
$340.1K
$297.6K – $396.8K
NOI $23,806 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$312.4K
$273.3K – $364.4K
NOI $21,865 @ 7.0% cap · market cap 3.50%
Theoretical Best
Warehouse
$1.06M
$926.9K – $1.24M
NOI $74,150 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 49006, MI
25,119
Population
12,093
Households
2.1
Avg Household Size
27
Median Age
44%
College-Educated
91%
High-School Grad
6.0 sq mi
ZIP Area
4,187
Density / Sq Mi
$45,617
Median Household Income
$18,710
Median Earnings
$991
Median Rent
$198,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences include in-unit laundry, appliances and additional off-street parking near Western Michigan University.
Where is this duplex located?
The property is located at 1327 Fraternity Village Dr Kalamazoo, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 11 bedrooms and 6 full bathrooms; Unit 1 has 5 bedrooms and 3 full bathrooms; Unit 2 has 6 bedrooms and 3 full bathrooms; 4,048 square feet; built in 2008
