Side-by-Side Duplex with
For Sale
$219,900
1714 Eastern Avenue Southeast, Grand Rapids, MI 49507
Two-bedroom units offer separate utilities, private basements, replacement windows, and durable vinyl siding.
Property Size716 SF
Price / SF$307.12
Days on Market124
Property Features for 1714 Eastern Avenue Southeast
General Information
Standard status
Active
Size
716 SF
Property subtype
Multi Family / 2 to 4 Units
Zoning
Res
Taxes and HOA fees
Annual Taxes
$2,318
Amenities
Forced Air, Yes
Yes
Forced Air
Natural Gas
0.0
Composition
Paved
Full
Aluminum Siding, Vinyl Siding
Building Details
Year Built
1950
Units
2
Listing Agency:
Compass Realty Services
(616) 633-9445
Listed By:
Allison V Koetsier · License #6502378425
(616) 633-9445
Source:
Compass
Added: Apr 30
Changed: Aug 29
Last Checked: Aug 31 at 12:31AM
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 Compass Realty Services
Investment Insights
Based on property information with market context.
This side-by-side duplex was built in 1950 and features a ranch-style layout with two residential units. Each unit contains two bedrooms, one bathroom, a private basement, hardwood flooring, replacement windows, and forced-air heating. Vinyl siding and composition roofing provide durable exterior finishes, while separate utilities support independent unit operation.
The property is located at 1714 Eastern Avenue Southeast in Grand Rapids, Michigan. Both units are currently leased, with total monthly rents of $2,220. The configuration combines matched unit layouts with distinct utilities and basement storage, creating a straightforward multifamily setup.
The property is located at 1714 Eastern Avenue Southeast in Grand Rapids, Michigan. Both units are currently leased, with total monthly rents of $2,220. The configuration combines matched unit layouts with distinct utilities and basement storage, creating a straightforward multifamily setup.
Key Highlights
- Side‑by‑side duplex with two 2‑bedroom, 1‑bath units
- Each unit includes a private basement
- Separate utilities for each unit
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
$7,592
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
3.45%
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%
$151,840
$151.8K
Cap Rate 7%
$108,457
$108.5K
Cap Rate 9%
$84,356
$84.4K
Market Conditions
NOI Build-Up for 716 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
$11.6K $16.20/SF
− Vacancy
−$754 −$1.05/SF
EGI
$10.8K $15.15/SF
− OpEx
−$3.3K −$4.54/SF
NOI
$7.6K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$151,840
Cap Rate 7%
$108,457
Cap Rate 9%
$84,356
Alternative Uses
Best Use
Multifamily LT 5
$108.5K
$94.9K – $126.5K
NOI $7,592 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$97.1K
$85.0K – $113.3K
NOI $6,796 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$166.2K
$145.4K – $193.9K
NOI $11,631 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
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?
Duplex - Two-bedroom units offer separate utilities, private basements, replacement windows, and durable vinyl siding.
Where is this duplex located?
The property is located at 1714 Eastern Avenue Southeast Grand Rapids, MI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two 2‑bedroom, 1‑bath units; Each unit includes a private basement; Separate utilities for each unit
