Two-Home Multifamily
New
For Sale
$315,000
13915 West St, Cedar Springs, MI 49319
Two manufactured residences on HC-zoned acreage provide an existing residential configuration with future commercial land-use considerations.
Property Size2,400 SF
Lot Size4.86 Acres
Price / SF$131.25
Days on Market5
Property Features for 13915 West St
General Information
Standard status
Active
Size
2,400 SF
Lot size
4.86 Acres
Property subtype
Multi-Family
Zoning
HC
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1978
Buildings
2
Construction
manufactured home
Listing Agency:
National Realty Group Inc.
Listed By:
Michael R Massa
(616) 957-9800
Source:
Metrodetroithomeguide
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 3:03PM
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 National Realty Group Inc.
Investment Insights
Based on property information with market context.
This multifamily property comprises two standalone manufactured homes totaling 2,400 SF on 4.86 acres. The residence at 13915 West St includes three bedrooms and one bathroom, while the home at 13879 West St has two bedrooms and one bathroom and is currently vacant. Both residences are part of the sale, offering a two-home residential setup within a larger tract.
The property is located in Solon Township and carries HC, or Highway Commercial, zoning. Commercial land-use possibilities and permitted uses are subject to verification with Solon Township. The site was built in 1978 and is addressed along West St in the 49319 ZIP code.
The property is located in Solon Township and carries HC, or Highway Commercial, zoning. Commercial land-use possibilities and permitted uses are subject to verification with Solon Township. The site was built in 1978 and is addressed along West St in the 49319 ZIP code.
Key Highlights
- Two standalone manufactured homes on 4.86 acres
- 2,400 SF total property size; built in 1978
- 13915 West St: 3‑bed, 1‑bath manufactured home
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
$22,728
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
7.22%
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%
$454,560
$454.6K
Cap Rate 7%
$324,686
$324.7K
Cap Rate 9%
$252,533
$252.5K
Market Conditions
NOI Build-Up for 2,400 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
$43.8K $18.24/SF
− Vacancy
−$2.5K −$1.02/SF
EGI
$41.3K $17.22/SF
− OpEx
−$18.6K −$7.75/SF
NOI
$22.7K $9.47/SF
Area
Kent County, MI
Vacancy
5.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
45.00%
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%
$454,560
Cap Rate 7%
$324,686
Cap Rate 9%
$252,533
Alternative Uses
Best Use
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,728 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 49319, MI
17,391
Population
7,150
Households
2.4
Avg Household Size
38
Median Age
20%
College-Educated
94%
High-School Grad
86.4 sq mi
ZIP Area
201
Density / Sq Mi
$78,247
Median Household Income
$44,041
Median Earnings
$1,060
Median Rent
$247,600
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?
Multifamily property - Two manufactured residences on HC-zoned acreage provide an existing residential configuration with future commercial land-use considerations.
Where is this multifamily property located?
The property is located at 13915 West St Cedar Springs, MI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two standalone manufactured homes on 4.86 acres; 2,400 SF total property size; built in 1978; 13915 West St: 3‑bed, 1‑bath manufactured home
