Plainwell Duplex: Stable Income
143 Floral Avenue Plainwell, MI 49080
For Sale
$249,999
Pending
MULTI_FAMILY - Plainwell, MI
Property Size2,112 SF
Lot Size0.32 Acres
Days on Market121
Property Features for 143 Floral Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Parking
4
Parking features
Paved or Surfaced
Basement
Crawl Space
Standard status
Pending
APN
55-300-003-00
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOTS 6 & 7 EXC A TRIANGULAR PARCEL IN NE COR LOT 7 DEEDED TO CITY ALSO EX W 10' OF LOTS 6 & 7 AS MEASURED ALG MARIETTE ST SCOTT'S ADDITION
Tax Annual Amount
6067
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1980
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Coldwell Banker Realty
(269) 469-3950
Listed By:
Will Howson · License #6501387256
(269) 615-5660
Added: Apr 1
Changed: Jul 25
Last Checked: Jul 30 at 2:06AM
MLS# 26012929
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.
This well-maintained duplex in Plainwell offers a stable cash flow with long-term tenants in place through 2027. Unit 145 rents for $1,120 per month, and Unit 143 rents for $1,075 per month, providing immediate and reliable income with potential for future rent increases. Constructed in 1980, this property features two spacious 2-bedroom, 1-bath units, each approximately 1,056 square feet, making it desirable for tenants seeking comfortable living space. Each unit includes in-unit laundry, separate utilities, and efficient layouts that support long-term tenancy. Situated on a corner lot with public water and sewer, and natural gas, tenants cover all major utilities, which keeps owner expenses low. Located within the Plainwell school district and close to downtown amenities, parks, and major roadways, this property presents a turnkey investment opportunity with strong in-place income, minimal management burden, and clear upside through strategic rent growth.
Key Highlights
- Well‑maintained duplex built in 1980 with two spacious 2‑bedroom, 1‑bath units
- Approx. 1,056 SF per unit; rents $1,120/month (Unit 145) and $1,075/month (Unit 143)
- Long‑term tenants in place through 2027
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.6k | $11.16 |
| − Vacancy | −$1.3k | −$0.59 |
| EGI | $22.3k | $10.57 |
| − OpEx | −$6.7k | −$3.17 |
| NOI | $15.6k | $7.40 |
2,112 SF · lease $11.16/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$223.2K
$195.3K – $260.4K
NOI $15,621 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$193.6K
$169.4K – $225.9K
NOI $13,553 @ 7.0% cap · market cap 5.42%
Theoretical Best
Hotel Hospitality
$19.83M
$17.35M – $23.14M
NOI $1,388,370 @ 7.0% cap · market cap 555.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with long-term tenants and strong cash flow.
Where is this duplex located?
The property is located at 143 Floral Avenue Plainwell, MI.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Well‑maintained duplex built in 1980 with two spacious 2‑bedroom, 1‑bath units; Approx. 1,056 SF per unit; rents $1,120/month (Unit 145) and $1,075/month (Unit 143); Long‑term tenants in place through 2027
