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    Turnkey Duplex Investment Opportunity Title is generated by Realmo AI

    344 Monroe Avenue, Muskegon, MI 49441

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    New
    For Sale
    $275,000

    MULTI_FAMILY - Muskegon, MI

    Lot size:
    0.22 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 344 Monroe Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Basement, Bedroom 2
    Parking
    8
    Parking features
    Driveway
    Basement
    Full
    Standard status
    Active
    APN
    24-205-369-0011-00
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CITY OF MUSKEGON REVISED PLAT OF 1903 E 1/2 LOT 10 BLK 369 & WLY 10 FT OF LOT 11 BLK 369 ALSO THAT PART OF LOT 11 BLK 369 DESCRIBED AS COM AT SW COR LOT 11 TH NELY ALG SLY LN OF LOT 11 10 FT FOR POB TH NWLY & PAR TO WLY LN OF LOT 11 83.34 FT TO A PT THAT IS 50 FT SLY OF NLY LN LOT 11 TH ELY & PAR TO NLY LN OF LOT 11 45.69 FT TH SLY 83.26 FT TO A PT ON SLY LN OF LOT 11 TH WLY 44.67 FT TO POB
    Tax Annual Amount
    2147

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Eric P Sikkenga

    Listing agent Eric P Sikkenga

    Listing office Keller Williams GR East 1555 Arboretum Dr. SE Ste 101, Grand Rapids, MI

    Listing date Jun 2, 2026

    MLS# 26026543 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 at 344 Monroe Avenue in Muskegon with two separate living units
    • Each unit features 2 bedrooms and 1 bathroom
    • Additional side lot included for more parking or a future building site
    • Built in 1900; vinyl siding exterior and a composition roof
    • Forced‑air heating and driveway parking
    • Utilities include cable available

    Overview

    This well-maintained duplex at 344 Monroe Avenue offers a straightforward income setup with two separate, spacious units. Each unit features two bedrooms and one bathroom, providing functional layouts and plenty of natural light. The property also includes an additional side lot, which can support more parking today or offer potential for a future building site as plans evolve.

    Located near downtown Muskegon, the home is positioned for convenient everyday access. It’s close to schools, shopping, restaurants, parks, and Lake Michigan attractions, which can be a practical advantage for both renters and owner-occupants who want to stay connected to the area’s daily amenities.

    The property is well suited to investors looking for a turnkey rental asset, with separate living spaces that support strong rental appeal. It also offers an appealing live-in option for buyers who want to occupy one unit while generating rental income from the other. With its established duplex configuration and added outdoor lot utility, this is a compelling choice for those seeking a residential income property in Muskegon.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.252318
    Latitude
    43.229774

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with two 2-bedroom, 1-bath units and an additional side lot for expanded parking or future site potential.
    Where is this duplex located?
    The property is located at 344 Monroe Avenue Muskegon, MI.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Duplex at 344 Monroe Avenue in Muskegon with two separate living units; Each unit features 2 bedrooms and 1 bathroom; Additional side lot included for more parking or a future building site
    (231) 730-0989
    We can help!
    Listing Contact
    Eric P Sikkenga
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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