Grand Rapids Condo with
476 Barkwood Ct, Grand Rapids, MI 49534
Two-bedroom condo with new deck, water heater, and in-unit laundry.
Type:Condominium
Property size:
1,100 SFPrice / SF:
$175/SF- Added:
- Aug 25, 2025
- Days on Market:
- 270
- Last Refresh:
- May 19 at 8:30 pm
Property Features for 476 Barkwood Ct
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 1974
Listing agent Jonathan Kwekel License #6501429494 (616) 396-1400
Listing office RE/MAX Lakeshore (616) 396-1400
Listing date Aug 25, 2025
Source Kw
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 Lakeshore
HighLights
- Immediate possession available
- Includes covered and uncovered parking spaces
- In‑unit laundry for your convenience
- New deck and water heater
- Air conditioning tuned recently
- Convenient location: Less than 6 miles to Grand Rapids amenities
Overview
Located on the northwest side of Grand Rapids, this second-level condo at 476 Barkwood Court is available for immediate occupancy. The unit features two bedrooms and 1.5 bathrooms, along with the convenience of in-unit laundry. Recent updates include a new deck and a new water heater. The air conditioning system has been tuned within the last year. Additional storage space is provided via a personal storage locker. The property includes one covered parking space and one uncovered parking space. Situated less than 6 miles from downtown Grand Rapids, the location offers convenient access to dining, shopping, banking, and public transportation. The property size is 1100 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$116.0K
NOI $10,441 @ 9.00% cap · cautious / downside scenario
Moderate
$149.2K
NOI $10,441 @ 7.00% cap · market / base-case scenario
Aggressive
$208.8K
NOI $10,441 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.2k | $18.36 |
| − Vacancy | −$1.2k | −$1.10 |
| EGI | $19.0k | $17.26 |
| − OpEx | −$8.5k | −$7.77 |
| NOI | $10.4k | $9.49 |
1,100 SF · lease $18.36/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$149.2K
$130.5K – $174.0K
NOI $10,441 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$255.3K
$223.4K – $297.8K
NOI $17,870 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.76419
- Latitude
- 42.973557
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two-bedroom condo with new deck, water heater, and in-unit laundry.
Where is this apartment building located?
The property is located at 476 Barkwood Ct Grand Rapids, MI.
What is the asking price?
The asking price for this property is $192,500.
What are key features of this property?
This property features: Immediate possession available; Includes covered and uncovered parking spaces; In‑unit laundry for your convenience
