Updated Duplex with
For Sale
$325,000
30 SW Putnam St City Of, Grand Rapids, MI 49507
Renovated electrical, plumbing, kitchens, bathrooms, flooring, and interior finishes throughout.
Property Size2,446 SF
Price / SF$132.87
Days on Market58
Property Features for 30 SW Putnam St City Of
General Information
Standard status
Active
Size
2,446 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Listing Agency:
RE/MAX Leading Edge
(313) 277-7777
Listed By:
In Network Real Estate Group
(248) 655-7955
Source:
Innetworkrealestate
Added: Aug 23
Changed: Sep 29
Last Checked: Oct 19 at 7:19AM
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 RE/MAX Leading Edge
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Investment Insights
Based on property information with market context.
This duplex at 30 Putnam St SW in Grand Rapids, Michigan, combines a residential income configuration with extensive recent improvements. Work includes updated electrical and plumbing systems, refreshed kitchens and bathrooms, new flooring, and upgraded interior finishes throughout the property. A recent roof replacement adds another completed capital improvement. The building was constructed in 1915 and includes a two-stall garage that provides additional storage space. The property is positioned for residential occupancy, with the renovated building systems and interiors already addressed.
Key Highlights
- Duplex property at 30 Putnam St SW, Grand Rapids, MI 49507
- Updated electrical and plumbing systems
- Renovated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,935
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,700
$518.7K
Cap Rate 7%
$370,500
$370.5K
Cap Rate 9%
$288,167
$288.2K
Market Conditions
NOI Build-Up for 2,446 SF
Gross rent
$39.6K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.0K $15.15/SF
− OpEx
−$11.1K −$4.54/SF
NOI
$25.9K $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 Rate 5%
$518,700
Cap Rate 7%
$370,500
Cap Rate 9%
$288,167
Alternative Uses
Best Use
Multifamily LT 5
$370.5K
$324.2K – $432.3K
NOI $25,935 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$331.7K
$290.2K – $387.0K
NOI $23,218 @ 7.0% cap · market cap 7.14%
Theoretical Best
Specialty Retail
$567.6K
$496.7K – $662.3K
NOI $39,735 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
754
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated electrical, plumbing, kitchens, bathrooms, flooring, and interior finishes throughout.
Where is this duplex located?
The property is located at 30 SW Putnam St City Of Grand Rapids, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex property at 30 Putnam St SW, Grand Rapids, MI 49507; Updated electrical and plumbing systems; Renovated kitchens and bathrooms
