Two-Unit Duplex Near
For Sale
Under Contract
$229,900
29 Monroe Street, Hillsdale, MI 49242
Multi Family, Hillsdale, MI
Property Size2,852 SF
Lot Size0.18 Acres
Price / SF$80.61
Days on Market48
Property Features for 29 Monroe Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2
Parking
2
Lot features
Level, Corner Lot
Elementary school district
Hillsdale
Middle school district
Hillsdale
High school district
Hillsdale
Directions
NW corner of Manning and Monroe
Standard status
Active Under Contract
APN
3000622723008
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2832
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1915
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Christie Plemmons Realty
Listed By:
Christie M Plemmons · License #6505379808
(517) 398-0268
Added: Aug 20
Changed: Oct 2
Last Checked: Oct 6 at 2:06AM
MLS# 26044079
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 1915 duplex offers 2,852 square feet of interior space on a 0.18-acre lot, with a layout that supports either separate-unit occupancy or conversion to a six-bedroom single-family residence. The main level includes four bedrooms, a full bathroom, laundry, a living room, kitchen, dining area, and an additional kitchen area toward the rear. The rear portion connects to the upper level, where two more bedrooms, a second full bathroom, laundry, and a study or recreation area are located. A basement provides additional access and storage space.
The property is within walking distance of Hillsdale College and downtown Hillsdale. The front unit is leased for the 2026/2027 school year. Vinyl siding, composition roofing, forced-air heating, window-unit cooling, and natural gas availability are included among the property features.
The property is within walking distance of Hillsdale College and downtown Hillsdale. The front unit is leased for the 2026/2027 school year. Vinyl siding, composition roofing, forced-air heating, window-unit cooling, and natural gas availability are included among the property features.
Key Highlights
- 2,852 square feet of interior space on a 0.18‑acre lot
- Currently configured as a 2 unit duplex
- Layout can be converted to a 6 bedroom, 2 full bath single‑family residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,447
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,940
$388.9K
Cap Rate 7%
$277,814
$277.8K
Cap Rate 9%
$216,078
$216.1K
Market Conditions
NOI Build-Up for 2,852 SF
Gross rent
$29.1K $10.20/SF
− Vacancy
−$1.3K −$0.46/SF
EGI
$27.8K $9.74/SF
− OpEx
−$8.3K −$2.92/SF
NOI
$19.4K $6.82/SF
Area
Hillsdale County, MI
Vacancy
4.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,940
Cap Rate 7%
$277,814
Cap Rate 9%
$216,078
Alternative Uses
Best Use
Multifamily LT 5
$277.8K
$243.1K – $324.1K
NOI $19,447 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$258.1K
$225.9K – $301.2K
NOI $18,070 @ 7.0% cap · market cap 7.86%
Theoretical Best
Specialty Retail
$453.2K
$396.5K – $528.7K
NOI $31,721 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 49242, MI
14,812
Population
6,687
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
90.6 sq mi
ZIP Area
163
Density / Sq Mi
$57,813
Median Household Income
$28,886
Median Earnings
$770
Median Rent
$182,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible interior arrangement includes two kitchens, two full baths, laundry areas, and multiple living spaces.
Where is this duplex located?
The property is located at 29 Monroe Street Hillsdale, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 2,852 square feet of interior space on a 0.18‑acre lot; Currently configured as a 2 unit duplex; Layout can be converted to a 6 bedroom, 2 full bath single‑family residence
