Two-Unit Duplex with Full
For Sale
$75,000
395 East Burnham Street, Battle Creek, MI 49014
Occupied duplex with bedroom layouts spanning the main and upper levels, plus landlord-paid utilities.
Property Size400 SF
Price / SF$187.50
Days on Market139
Property Features for 395 East Burnham Street
General Information
Standard status
Active
Size
400 SF
Property subtype
Multi Family / 2 to 4 Units
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,413
Amenities
None, No
Steam, Yes
Yes
Steam
Natural Gas
In Basement
0.0
Composition
Paved
Full
Wood Siding
Building Details
Year Built
1920
Buildings
1
Units
2
Listing Agency:
Jaqua REALTORS
(269) 420-1265
Listed By:
Cindy Artis · License #6501365472
(269) 420-1265
Source:
Compass
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 4:56PM
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 Jaqua REALTORS
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1920, includes two bedrooms on the main level and one bedroom upstairs. The property also has a full basement with access from the main level. Steam heat and natural gas service are among the documented interior features, while the exterior includes wood siding and composition materials.
Both units are currently occupied. The landlord pays all utilities, and either unit may be made available with 30 days’ notice to vacate. The property is located at 395 East Burnham Street in Battle Creek, Michigan, with paved exterior areas.
Both units are currently occupied. The landlord pays all utilities, and either unit may be made available with 30 days’ notice to vacate. The property is located at 395 East Burnham Street in Battle Creek, Michigan, with paved exterior areas.
Key Highlights
- Two‑unit duplex built in 1920
- Two bedrooms on the main level and one bedroom upstairs
- Full basement accessible from the main level
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
$3,499
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
4.67%
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%
$69,980
$70.0K
Cap Rate 7%
$49,986
$50.0K
Cap Rate 9%
$38,878
$38.9K
Market Conditions
NOI Build-Up for 400 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
$5.3K $13.20/SF
− Vacancy
−$281 −$0.70/SF
EGI
$5.0K $12.50/SF
− OpEx
−$1.5K −$3.75/SF
NOI
$3.5K $8.75/SF
Area
Calhoun County, MI
Vacancy
5.32%
Lease Rate
$13.20 /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%
$69,980
Cap Rate 7%
$49,986
Cap Rate 9%
$38,878
Alternative Uses
Best Use
Multifamily LT 5
$50.0K
$43.7K – $58.3K
NOI $3,499 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$43.4K
$38.0K – $50.7K
NOI $3,040 @ 7.0% cap · market cap 4.05%
Theoretical Best
Healthcare Medical
$4.74M
$4.15M – $5.54M
NOI $332,146 @ 7.0% cap · market cap 442.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 49014, MI
21,505
Population
9,314
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
90%
High-School Grad
72.5 sq mi
ZIP Area
297
Density / Sq Mi
$63,383
Median Household Income
$40,061
Median Earnings
$997
Median Rent
$159,100
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 - Occupied duplex with bedroom layouts spanning the main and upper levels, plus landlord-paid utilities.
Where is this duplex located?
The property is located at 395 East Burnham Street Battle Creek, MI.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; Two bedrooms on the main level and one bedroom upstairs; Full basement accessible from the main level
