Updated Duplex in Breton
For Sale
$439,900
2561-2563 Burton St SE, Grand Rapids, MI 49546
Turnkey duplex in desirable Breton Village, ideal for investors.
Property Size2,000 SF
Price / SF$219.95
Days on Market120
Property Features for 2561-2563 Burton St SE
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,545
Building Details
Year Built
1973
Units
2
Listing Agency:
Grand Rapids North Market Center, LLC
(616) 287-3162
Listed By:
Tammy Jo Budzynski · License #6506043034
(616) 287-3162
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 21 at 7:47AM
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 Grand Rapids North Market Center, LLC
Investment Insights
Based on property information with market context.
This updated duplex, situated in the highly desirable Breton Village, provides nearly 2,000 square feet of living space. Each unit includes 2 bedrooms and 1 full bathroom, featuring thoughtfully renovated interiors and functional layouts. The property offers ample parking. It is currently fully leased with reliable tenants, ensuring immediate rental income. The location is near shopping, dining, and amenities. The property presents an opportunity for investors or owner-occupants.
Key Highlights
- Prime Breton Village Location: Highly desirable area near shopping, dining, and amenities.
- Turnkey Condition: Beautifully updated interiors requiring no immediate renovations.
- Strong Rental History & Immediate Income: Currently fully leased with reliable tenants.
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
$21,206
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
4.82%
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%
$424,120
$424.1K
Cap Rate 7%
$302,943
$302.9K
Cap Rate 9%
$235,622
$235.6K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.3K $15.15/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.2K $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%
$424,120
Cap Rate 7%
$302,943
Cap Rate 9%
$235,622
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.1K – $353.4K
NOI $21,206 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,984 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$464.1K
$406.1K – $541.5K
NOI $32,490 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 49546, MI
35,536
Population
13,561
Households
2.6
Avg Household Size
38
Median Age
61%
College-Educated
96%
High-School Grad
17.9 sq mi
ZIP Area
1,985
Density / Sq Mi
$97,386
Median Household Income
$48,008
Median Earnings
$1,275
Median Rent
$389,100
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 - Turnkey duplex in desirable Breton Village, ideal for investors.
Where is this duplex located?
The property is located at 2561-2563 Burton St SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Prime Breton Village Location: Highly desirable area near shopping, dining, and amenities.; Turnkey Condition: Beautifully updated interiors requiring no immediate renovations.; Strong Rental History & Immediate Income: Currently fully leased with reliable tenants.
