2-Unit Duplex with Updated
For Sale
$184,900
418-420 Elm Street, Kalamazoo, MI 49007
Two-bedroom and three-bedroom residences are occupied, with tenants responsible for gas and electric service.
Property Size2,386 SF
Price / SF$77.49
Days on Market219
Property Features for 418-420 Elm Street
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Residential Income / Multi Family
Zoning
MULTI
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,300
Amenities
Forced Air, Natural Gas
true
Yes
Building Details
Year Built
1913
Buildings
1
Tenancy
Multi
Listing Agency:
Real Broker, LLC
Listed By:
Ahmed ''Ali'' Khalil · License #6501425556
(269) 569-4019
Source:
Compass
Added: Mar 24
Changed: Oct 28
Last Checked: Oct 28 at 11:01AM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 2,386-square-foot duplex, constructed in 1913, contains two separate residences: one with two bedrooms and another with three. The property has a newer roof, furnaces and water heaters, along with forced-air heating fueled by natural gas. It is zoned MULTI and holds city rental certification through January 30, 2027.
Both units are currently rented. Residents pay their own gas and electric utilities. The property is near downtown Kalamazoo, shopping, dining and other local amenities.
Both units are currently rented. Residents pay their own gas and electric utilities. The property is near downtown Kalamazoo, shopping, dining and other local amenities.
Key Highlights
- 2,386‑square‑foot duplex built in 1913
- Two‑bedroom and three‑bedroom unit mix
- Newer roof, furnaces and water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,032
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,640
$280.6K
Cap Rate 7%
$200,457
$200.5K
Cap Rate 9%
$155,911
$155.9K
Market Conditions
NOI Build-Up for 2,386 SF
Gross rent
$21.5K $9.00/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$20.0K $8.40/SF
− OpEx
−$6.0K −$2.52/SF
NOI
$14.0K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,640
Cap Rate 7%
$200,457
Cap Rate 9%
$155,911
Alternative Uses
Best Use
Multifamily LT 5
$200.5K
$175.4K – $233.9K
NOI $14,032 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$184.1K
$161.1K – $214.8K
NOI $12,888 @ 7.0% cap · market cap 6.97%
Theoretical Best
Warehouse
$624.4K
$546.3K – $728.4K
NOI $43,706 @ 7.0% cap · market cap 23.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
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Business Placement
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
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 - Two-bedroom and three-bedroom residences are occupied, with tenants responsible for gas and electric service.
Where is this duplex located?
The property is located at 418-420 Elm Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 2,386‑square‑foot duplex built in 1913; Two‑bedroom and three‑bedroom unit mix; Newer roof, furnaces and water heaters
