Duplex with Full
508 Glenwood Avenue SE, Grand Rapids, MI 49506
For Sale
$399,900
Multi Family, Grand Rapids, MI
Property Size1,944 SF
Lot Size0.12 Acres
Price / SF$205.71
Days on Market17
Property Features for 508 Glenwood Avenue SE
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Basement
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Legal Description
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Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams GR North · Keller Williams Realty
(616) 447-9100
Listed By:
Meghan GeBott
(616) 498-0031
Added: Oct 29
Changed: Nov 11
Last Checked: Nov 14 at 2:06AM
MLS# 26059784
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.
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Investment Insights
Based on property information with market context.
This two-story duplex contains two separate living units and approximately 1,944 square feet. A full basement adds storage space, and three off-street parking spaces serve the property. The building dates to 1910 and sits on a 0.12-acre lot measuring 40' x 132'. One unit is currently rented.
The property is in Grand Rapids’ Eastown area, near the Wealthy Street corridor and its restaurants, shops, entertainment, and parks. Downtown Grand Rapids is also nearby.
The property is in Grand Rapids’ Eastown area, near the Wealthy Street corridor and its restaurants, shops, entertainment, and parks. Downtown Grand Rapids is also nearby.
Key Highlights
- Two‑story duplex with two separate living units
- Approximately 1,944 square feet
- 0.12‑acre lot measuring 40' x 132'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,612
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,240
$412.2K
Cap Rate 7%
$294,457
$294.5K
Cap Rate 9%
$229,022
$229.0K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$31.5K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$29.4K $15.15/SF
− OpEx
−$8.8K −$4.54/SF
NOI
$20.6K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,240
Cap Rate 7%
$294,457
Cap Rate 9%
$229,022
Alternative Uses
Best Use
Multifamily LT 5
$294.5K
$257.7K – $343.5K
NOI $20,612 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$263.6K
$230.7K – $307.6K
NOI $18,453 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$451.1K
$394.8K – $526.3K
NOI $31,580 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
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Business Placement
Demographics for 49506, MI
33,050
Population
13,262
Households
2.5
Avg Household Size
34
Median Age
67%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
4,527
Density / Sq Mi
$112,287
Median Household Income
$48,631
Median Earnings
$1,305
Median Rent
$338,600
Median Home Value
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Market
Properties on Market for Duplexes in Grand Rapids
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a flexible layout in Grand Rapids’ Eastown area.
Where is this duplex located?
The property is located at 508 Glenwood Avenue SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑story duplex with two separate living units; Approximately 1,944 square feet; 0.12‑acre lot measuring 40' x 132'
