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    Plainwell Duplex: Stable Income Property Title is generated by Realmo AI

    143 Floral Avenue, Plainwell, MI 49080

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    Claim this Listing
    Pending
    $249,999

    MULTI_FAMILY - Plainwell, MI

    Property size:
    2,112 SF
    Lot size:
    0.32 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    83
    Last Refresh:
    Jun 22 at 3:06 pm

    Property Features for 143 Floral Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
    Parking
    4
    Parking features
    Paved or Surfaced
    Basement
    Crawl Space
    Standard status
    Pending
    APN
    55-300-003-00
    Size
    2,112 SF
    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

    We can help!

    Listing Contact
    Will Howson

    Listing agent Will Howson

    Listing office Coldwell Banker Realty 10 N Whittaker Street, New Buffalo, MI

    Listing date Apr 1, 2026

    MLS# 26012929 Listing URL

    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.

    HighLights

    • Duplex built in 1980 with vinyl siding, composition roof, and forced‑air heating
    • Two spacious 2‑bedroom, 1‑bath units, approx. 1,056 SF each
    • Current rents: Unit 145 at $1,120/month and Unit 143 at $1,075/month
    • In‑unit laundry in both units with separate utilities
    • Corner lot with public water/sewer and natural gas; parking on paved/surfaced areas
    • Cable available; connected to public sewer

    Overview

    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.

    Local 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 (±1% cap)
    NOI $15,621 @ 7.0% cap · market cap 6.25%
    Second Best
    Apartment 5plus
    $193.6K
    $169.4K – $225.9K (±1% cap)
    NOI $13,553 @ 7.0% cap · market cap 5.42%
    Theoretical Best
    Hotel Hospitality
    $19.83M
    $17.35M – $23.14M (±1% cap)
    NOI $1,388,370 @ 7.0% cap · market cap 555.35%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plainwell
    County
    Allegan
    State
    Michigan
    Longitude
    -85.634949
    Latitude
    42.444377

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    FAQs

    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: Duplex built in 1980 with vinyl siding, composition roof, and forced‑air heating; Two spacious 2‑bedroom, 1‑bath units, approx. 1,056 SF each; Current rents: Unit 145 at $1,120/month and Unit 143 at $1,075/month
    (269) 615-5660
    We can help!
    Listing Contact
    Will Howson
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