Historic Duplex with Updated
For Sale
$160,800
Pending
468 Colfax Avenue, Benton Harbor, MI 49022
Two-tenant residential property with preserved character, renovated building systems, and separate kitchens.
Property Size880 SF
Days on Market313
Property Features for 468 Colfax Avenue
General Information
Standard status
Pending
Size
880 SF
Property subtype
Residential Income / Multi Family
Taxes and HOA fees
Annual Taxes
$1,868
Amenities
Window Unit(s), Yes
Forced Air, Yes
Yes
Forced Air
Natural Gas
Window Unit(s)
Laundry Room
0.0
Composition
Sep Electric Meter, Sep Gas Meter, Sep Water Meter, Tenant Storage
Paved, Public
Full
Vinyl Siding
All Sports, Public Access 1 Mile or Less, View
Building Details
Year Built
1930
Units
2
Listing Agency:
Siriano Realty
Listed By:
Dawn Munoz Lamas · License #6501445459
(269) 588-2287
Source:
Compass
Added: Dec 9, 2025
Changed: Oct 16
Last Checked: Oct 16 at 10:50AM
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 Siriano Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1930 duplex occupies a historic home with two long-term tenants on month-to-month leases. Original woodwork, high ceilings, and wood flooring retain the building’s period character, while the roof, siding, windows, furnace, mechanical systems, and electrical service have been updated. Separate kitchens add functional flexibility for the existing residential arrangement. Tenants pay all utilities.
The property is located at 468 Colfax Ave in Benton Harbor, positioned on elevated ground overlooking the surrounding area toward the St. Joe River. It is approximately 5 minutes from Lake Michigan, downtown St. Joe, and Harbor Shores Resort. The building may also be converted to single-family use, subject to applicable requirements.
The property is located at 468 Colfax Ave in Benton Harbor, positioned on elevated ground overlooking the surrounding area toward the St. Joe River. It is approximately 5 minutes from Lake Michigan, downtown St. Joe, and Harbor Shores Resort. The building may also be converted to single-family use, subject to applicable requirements.
Key Highlights
- Duplex with 2 long‑term tenants on month‑to‑month leases
- 1930 construction with original woodwork, high ceilings, and wood flooring
- Updated roof, siding, windows, furnace, mechanical systems, and electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,049
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$160,980
$161.0K
Cap Rate 7%
$114,986
$115.0K
Cap Rate 9%
$89,433
$89.4K
Market Conditions
NOI Build-Up for 880 SF
Gross rent
$12.1K $13.80/SF
− Vacancy
−$646 −$0.73/SF
EGI
$11.5K $13.07/SF
− OpEx
−$3.4K −$3.92/SF
NOI
$8.0K $9.15/SF
Area
Berrien County, MI
Vacancy
5.32%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$160,980
Cap Rate 7%
$114,986
Cap Rate 9%
$89,433
Alternative Uses
Best Use
Multifamily LT 5
$115.0K
$100.6K – $134.2K
NOI $8,049 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$102.6K
$89.8K – $119.7K
NOI $7,182 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$185.2K
$162.0K – $216.0K
NOI $12,962 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 49022, MI
30,143
Population
14,484
Households
2.1
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
67.3 sq mi
ZIP Area
448
Density / Sq Mi
$39,859
Median Household Income
$29,530
Median Earnings
$797
Median Rent
$140,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-tenant residential property with preserved character, renovated building systems, and separate kitchens.
Where is this duplex located?
The property is located at 468 Colfax Avenue Benton Harbor, MI.
What is the asking price?
The asking price for this property is $160,800.
What are key features of this property?
This property features: Duplex with 2 long‑term tenants on month‑to‑month leases; 1930 construction with original woodwork, high ceilings, and wood flooring; Updated roof, siding, windows, furnace, mechanical systems, and electrical service
